What is the Right of Property?

7 12 2006

Property is simply wealth, that is possessed- that has an owner; in contradistinction to wealth, that has no owner, but lies exposed, unpossessed, and ready to be converted into property, by whomsoever chooses to make it his own. All property is wealth; but all wealth is not property. A very small portion of the wealth in the world has any owner. It is mostly unpossessed. Of the wealth in the ocean, for example, of an infinitesimal part ever becomes property. And occasionally takes possession of a fish, or a shell, leaving all tile rest of the ocean’s wealth without an owner.