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8 THE 1L1MENTS OF BAH11H0*
*
include them all,
and this general term we find in the
word PROPERTY. And when we undrrHtand tht meaning; of the
word PROPERTY, we shall find that it will throw a flood of light
over the whole of Economic Science and in fuel il in wholly
impossible to understand the science of Banking without it*
Most persons in modern timea, when they pt.k or of
Property, think of some material things, mich AH money t house*,
lands, corn, timber, cattle, etc. But that In not the* true3
! mean-
an< *
ing of the word Property.
P 8 W
** *""**
sense is not a material thiiig,
but tho J^KIHT tn HnmniTimg.
*TnT!^ th almnluto wnc*rin
anything, as well as the thing itwif, w;ii called Mjw*/-
because it was supposed to Iw acquired hj tho tit rang
hand, and if not kept with a very firm gravp, would probably
bit
lost again.
As civilisation, advanced, the ownership of things
centred in the family or Domu$ ;
but tho head of the
alone exercised all Mights over it ;
h&xcc this Right WIIH
waw l.4cl t
Dominium^ no other member of the family could have any
individual Eight. Domniwn was then adopted in Kottmti law iw
the term for the absolute ownership of anything.
Afterwards, in the days of the early emporora, the tjxtrmm*
rigour of the patria potestas was relaxed, and th individual
members of the family were allowed to have exclusive* Higlitii U>
things ;
and then this right was called PHOPIUKTA^ hucavm; it
was restricted to the individual, aud excluded civery one lo.
"Dominium id est Proprietas," says Neratiuu, a jtiriit of tho g
of Trajan and Hadrian.
\h
',
therefore,
of any one
not believe that the word Proprtotas m Ionian law wait vr
applied to the things themselves.
^ word Property was always used exclusively in this
sense by early English writers. Thus
" grand old Ij^yj^f layit :
They made Pr P ert y of Costly goods, where no Property
tt my
be ;
and professed to have no Property in worldly goods, when
alone Property is lawfol."
tl10
So fia^ invariably usii Property to
-?MU^3J^?g. He says one of the mm of lit