operation. The reason why co-operation in production is exceedingly difficult, and indeed is not possible except in the highest and rarest conditions of education and culture amongst artisans, is that workmen cannot undertake an enterprise without capital, and that capital always means the fruits of prudence and self-denial already accomplished. The capitalist's profits, therefore, are only the reward for the contribution he has made to a joint enterprise which could not go on without him, and his share is as legitimate as that of the hand-worker.
The socialist assails particularly the institution of bequest or hereditary property, by which some men come into life with special protection and advantage. The right of bequest rests on no other grounds than those of expediency. The love of children is the strongest motive to frugality and to the accumulation of capital. The state guarantees the power of bequest only because it thereby encourages the accumulation of capital on which the welfare of society depends. It is true enough that inherited capital often proves a curse. Wealth is like health, physical strength, education, or anything else which enhances the power of the individual; it is only a chance; its moral character depends entirely upon the use which is made of it. Any force which, when well used, is capable of elevating a man, will, if abused, debase him in the same proportion. This is true of education, which is often and incorrectly vaunted as a positive and purely beneficent instrumentality. An education ill used makes a man only a more mischievous scoundrel, just as an education well used makes him a more efficient, good citizen and producer. So it is with wealth; it is a means to all the higher developments of intellectual and moral culture.
