We know nowadays that the nineteenth century expended a great wealth of intelligence upon a barren controversy between Individualism and Socialism. They were treated as mutually exclusive alternatives, instead of being questions of degree. Human society has been is and always must be an intricate system of adjustments between unconditional liberty and the disciplines and subordinations of co-operative enterprise. Affairs do not move simply from a more individualist to a more socialist state or vice versa; there may be a release of individual initiative going on here and standardization or restraint increasing there. Personal property never can be socially guaranteed as the extremer individualists desired, nor can it be "abolished" as the extremer socialists proposed. Property is not robbery, as Proudhon asserted; it is the protection of things against promiscuous and mainly wasteful use. Property is not necessarily personal. In some cases property may restrict or forbid a use of things that could be generally advantageous, and it may be and is frequently unfair in its assignment of initiative, but the remedy for that is not an abolition but a revision of property. In the concrete it is a form necessary for liberty of action upon material, while abstracted as money, which is a liquidated generalized form of property; it is a ticket for individual liberty of movement and individual choice of reward.
The economic history of mankind is a history of the operation of the idea of property; it relates the conflict of the unlimited acquisitiveness of egoistic individuals against the resentment of the disinherited and unsuccessful and the far less effective consciousness of a general welfare. Money grew out of a system of abstracting conventions and has been subjected to a great variety of restrictions, monopolizations, and regulations. It has never been an altogether logical device, and it has permitted the most extensive and complex developments of credit, debt, and dispossession. All these developments have brought with them characteristic forms of misuse and corruption. The story is intricate, and the tangle of relationships, of dependence, of pressure, of interception, of misdirected services, crippling embarrassments, and crushing obligations in which we live to-day admits of no such simple and general solutions as many exponents of socialism, for example, seem to consider possible.
But the thought and investigations of the past century or so have made it clear that a classification of property, according to the nature of the rights exercisable and according to the range of ownership involved, must be the basis of any system of social justice in the future.
Certain things, the ocean, the air, rare wild animals, must be the collective property of all mankind and cannot be altogether safe until they are so regarded, and until some concrete body exists to exercise these proprietary rights. Whatever collective control exists must protect these universal properties, the sea from derelicts, the strange shy things of the wild from extermination by the hunter and the foolish collector. The extinction of many beautiful creatures is one of the penalties our world is paying for its sluggishness in developing a collective common rule. And there are many staple things and general needs that now also demand a unified control in the common interest. The raw material of the earth should be for all, not to be monopolized by any acquisitive individual or acquisitive sovereign state, and not to be withheld from exploitation for the general benefit of any chance claims to territorial priority of this or that backward or bargaining person or tribe.
In the past, most of these universal concerns have had to be left to the competitive enterprise of profit-seeking individuals because there were as yet no collectivities organized to the pitch of ability needed to develop and control these concerns, but surely nobody in his senses believes that the supply and distribution of staple commodities about the earth by irresponsible persons and companies working entirely for monetary gain is the best possible method from the point of view of the race as a whole. The land of the earth, all utilizable natural products, have fallen very largely under the rules and usages of personal property because in the past that was the only recognized and practicable form of administrative proprietorship. The development both of extensive proprietary companies and of government departments with economic functions has been a matter of the last few centuries, the development, that is to say, of communal, more or less impersonal ownership, and it is only through these developments that the idea of organized collectivity of proprietorship has become credible.
Even in quite modern state enterprises there is a tendency to recall the rôle of the vigilant, jealous, and primitive personal proprietor in the fiction of ownership by His Majesty the King. In Great Britain, for example, Georgius Rex is still dimly supposed to hover over the Postmaster General of his Post Office, approve, disapprove, and call him to account. But the Postal Union of the world which steers a registered letter from Chile to Norway or from Ireland to Pekin is almost completely divorced from the convention of an individual owner. It works; it is criticized without awe or malice. Except for the stealing and steaming of letters practised by the political police of various countries, it works fairly well. And the only force behind it to keep it working well is the conscious common sense of mankind.
But when we have stipulated for the replacement of individual private ownership by more highly organized forms of collective ownership, subject to free criticism and responsible to the whole republic of mankind, in the general control of sea and land, in the getting, preparation, and distribution of staple products and in transport, we have really named all the possible generalizations of concrete ownership that the most socialistic of contemporaries will be disposed to demand. And if we add to that the necessary maintenance of a money system by a central world authority upon a basis that will make money keep faith with the worker who earns it, and represent from first to last for him the value in staple commodities he was given to understand it was to have, and if we conceive credit adequately controlled in the general interest by a socialized world banking organization, we shall have defined the entire realm from which individual property and unrestricted individual enterprise have been excluded. Beyond that, the science of social psychology will probably assure us that the best work will be done for the world by individuals free to exploit their abilities as they wish. If the individual landowner or mineral-owner disappears altogether from the world, he will probably be replaced over large areas by tenants with considerable security of tenure, by householders and by licensees under collective proprietors. It will be the practice, the recognized best course, to allow the cultivator to profit as fully as possible by his own individual productivity and to leave the householder to fashion his house and garden after his own desire.
Such in the very broadest terms is the character of the world commonweal towards which the modern imagination is moving, so far as its direction and economic life are concerned. The organization of collective bodies capable of exercising these wider proprietorships, which cannot be properly used in the common interest by uncorrelated individual owners, is the positive practical problem before the intelligent portion of mankind to-day. The nature of such collective bodies is still a series of open questions, even upon such points as whether they will be elected bodies or groups deriving their authority from other sanctions. Their scope and methods of operation, their relations to one another and to the central bureau of intelligence, remain also to be defined. But before we conclude this essay we may be able to find precisions for at least the beginning of such definition.
Nineteenth-century socialism in its various forms, including the highly indurated formulae of communism, has been a series of projects for the establishment of such collective controls, for the most part very sketchy projects from which the necessary factor of a sound psychological analysis was almost completely wanting. Primarily movements of protest and revolt against the blazing injustices arising out of the selfishly individualistic exploitation of the new and more productive technical and financial methods of the eighteenth and nineteenth centuries, they have been apt to go beyond the limits of reasonable socialization in their demands and to minimize absurdly the difficulties and dangers of collective control. Indignation and impatience were their ruling moods, and if they constructed little they exposed much. We are better able to measure the magnitude of the task before us because of the clearances and lessons achieved by these pioneer movements.