We mean thereby the principle, potentiality, embodied in the axe, the spade, the plough, the steam-engine, tools of all kinds, books or pictures, bequeathed by thinkers, writers, inventors, discoverers, and other labourers of the past, a social growth to which all individual claims have lapsed by death, but from the advantages of which the masses are virtually shut out for lack of means.

The very best definition of government, even that of to-day, is that it is the agency of society which procures title to this treasure, stores it up, guards and gives access to it to every one, and of which all must make the best use, first and foremost by education." The conscious socialist is he who, recognizing in theory the nature of this social property inherent in all forms of capital, aims consciously at getting possession or control of it for society, in order to solve the problem of poverty by making the wage-earner not only a joint-owner of the social property in land but also in capital.
In other words, it signifies that the community refuses to sanction any absolute property on the part of any of its members, recognizing that a large portion of the value of each individual's work is due, not to his solitary efforts, but to the assistance lent by the community, which has educated and secured for the individual the skill which he puts in his work; has allowed him to make use of certain pieces of the material universe which belongs to society; has protected him in the performance of his work; and lastly, by providing him a market of exchange, has given a social value to his product which cannot be attributed to his individual efforts.

In recognition of the co-operation of society in all production of wealth, the community claims the right to impose such conditions upon the individual as may secure for it a share in that social value it has by its presence and activity assisted to create.

The claim of the theoretic socialist is that society by taxing or placing other conditions upon the individual as capitalist or workman is only interfering to secure her own.

Since it is not possible to make any satisfactory estimate of the proportion of any value produced which is due to the individual efforts, and to society respectively, there can be no limit assigned to the right of society to increase its claim save the limit imposed by expediency.