Now, the curious thing with regard to "X" is that he is all along assuming this fundamental fact himself; though he utterly fails to put two and two together, and see how this fact conflicts with the omnipotence which he ascribes to legislation. Let us go back to the assertion, which embodies his whole practical argument, that the majority of the voters in New York State could, without interfering with the activity of any one of its citizens, limit incomes in any manner they pleased, and alienate with even greater ease the property of every man at his death; and let us see what he hastens to say as the sequel to this oracular utterance. These powers of the sovereign majority, which he is apparently so anxious to invoke, would, he says, be practically much less formidable in their action than timid persons might anticipate. And why should they be less formidable? "Because," says "X," "although each man, by reason of his manhood alone, has an equal voice with every other man in making the laws governing their common country, and regulating the distribution of the common property ... yet immense and incalculable differences exist in men's natural capacities for rendering honest service to society. Encouragement should, therefore, be given to every man to use all the gifts which he possesses to the fullest extent possible; and, accordingly, reasonable accumulations and the descent of these should be respected." They should, he says, be respected. Yes--but for what reason? Because they encourage exceptional men, whose services are essential to society, to develop and use their capacities to "the fullest extent possible"; and this is merely another way of saying that, without the motive provided by the possibility of accumulation and bequest, the exceptional faculties would not be developed or used at all. Moreover, the amounts which may be accumulated and bequeathed, although they will be strictly limited, must, "X" says, be considerable. He suggests that incomes should be allowed up to L8,000, and bequeathable property up to L200,000. And here we come to a question which is still more pertinent than the preceding. Why must the permissible amounts of income and of bequeathable property be of proportions such as those which he contemplates? Why does he not take his bill and write down quickly L200 of income instead of L8,000, and limit bequeathable property to L2,000 instead of L200,000? Because he evidently recognises that the men whose possible services to society are "immensely and incalculably greater" than those of the majority of their fellow citizens would not be tempted by a reward which, reduced to its smallest proportions, would not be very largely in excess of what was attainable by more ordinary exertions. In his formal statement of his case, he says that the amount of the reward would be entirely determined by what _ought_ to be sufficient for the purpose in the estimation of