owning are impersonal and no ethical or moral laws can be applied to them. They are only physical forces and material things. The wind may push against a tree and overcome its resistance and the tree falls. That is merely an abstract force against a material thing. But when my energy is exerted against your tree and destroys it, then personal responsibility and personal rights must be considered. A righteous adjustment between labor and capital can never be arrived at without the consideration of the personal elements on both sides. The moral and ethical laws must be applied as well as the physical and economic.
Incorporated property, however, has eliminated from it the ethical and moral responsibility of personality and is regarded as possessed only of economic and physical qualities and restrained only by legal statutes.
Incorporated properties are not generally managed by those who own them. The managers are employed by the owners, who are ready to pay large compensation to those who have the tact and brain and nerve power and peculiar quality of conscience to