CHAPTER VIII 



COAL A NATIONAL TRUST 1 



IT has now become an axiom with all liberal thinkers 

 that complete freedom of exchange between nations and 

 countries of the various products each has in super- 

 abundance and can best spare, for others which it requires, 

 is for the benefit of both parties ; and this principle is 

 thought to be so universally applicable, that, even when it 

 produces positive injury to ourselves and is certain to 

 injure our descendants, hardly any public writer who pro- 

 fesses liberal views ventures 'to propose a limitation of it. 

 It seems clear, however, that there are limitations to its 

 wholesome application, and that there are certain com- 

 modities which we have no right to exchange away without 

 restriction, for others of more immediate use to the 

 individuals or communities who happen to be in possession 

 of them. These commodities may be briefly defined as 

 those natural products which are practically limited in 

 quantity, and which cannot be reproduced. 



What is meant may perhaps be best explained by 

 taking what may be considered a very extreme case as an 

 illustration. Let us suppose, for instance, a country in 

 which the springs or wells of water were strictly limited 

 in number, but sufficiently copious to supply all the actual 

 needs of the people, who had always had the use of 

 them on making a nominal payment to the owners of the 

 land on which they were situated. Acting on the princi- 



1 This article appeared in the Daily News of September 16th, 1873. 

 It is even more applicable to-day. 



