Excerpt from Principles of Property in Land
At a time when the Conditions on which Property in Land should be held are being brought under consideration, it seems desirable to examine the Principles on which such Property rests, as well as the practical results of our present laws affecting Land.
The preliminary inquiry into Principles is the more necessary, because very conflicting theories respecting the Institution of Property are put forward by defenders and opponents of the existing system of law. On the one side we have assertions of the sacredness of Property in private hands; on the other we have the doctrine that Property can vest only in the community, and that its appropriation to individuals is a moral wrong and an economic blunder.
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