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produced the great middle class of modern times; and the elements in it have been property, science, and liberty. The first and chief of these, however, is property; there is no liberty without property, because there is nothing else without property on this earth. How can any one dispute this who will think for a moment that property means food and shelter—the first things necessary that we may exist at all; and that we use the word property rather than wealth or goods when we mean to refer to their appropriation to the exclusive use of individuals? Therefore liberty and property are not inseparable, and if they are separated it is property which is fundamental and permanent, and not liberty.

Hence the proposition which we undertook to examine does not bear analysis well. The dictum that no man can be free without property is entirely true or false as we construe it one way or another. Freedom and property, I say, are not inseparable, and if they are separated, it is liberty and not property which is the adjunct. If they are united, they do not simply coalesce, but their combination belongs to a new and higher order of civilization, calling for new social knowledge and for wisdom to maintain it.

Liberty and Opportunity

Among popular beliefs whose existence is manifested in current discussion and which ought not to pass unchallenged, is the notion that a chance in life is a positive and certain gain or advance. A chance, however, is a chance, and nothing more. Every chance involves a possibility of two opposite issues. If a chance or opportunity is used one way it results in gain or advantage; if it is used the other way it issues in loss or disadvantage. A