"Socialism proposes no adequate substitute for the motive of the enlightened selfishness that today is at the basis of all human labor and effort, enterprise, and new activity."
William Howard Taft, 26th President, 1909-1913
-from his book, "Popular government: its essence, its permanence and its perils", Chapter IV, page 91.Taft, a Republican, was elected President in 1908 following on the popularity of Theodore Roosevelt. After his Presidency he served as Chief Justice of the Supreme Court, from 1921 to 1930, a post he enjoyed much more than that of being President. He was born and raised near Cincinnati, Ohio. His father also served in government as Secretary of War and Attorney General under Ulysses S. Grant. Taft, a large man, was nicknamed "Old Bill" at Yale University and was that school's intramural wrestling champion. He also possessed a sharp mind, graduating second in his class. In this work, Taft speaks of the possible despotism, or unlimited power, not only of government over citizens, but also despotism of the majority over a smaller number of people. He specifically refers to the majority of a population limiting the rights to own and control wealth and property by the wealthy.-"...It is sufficient for me now to say that next to the right of liberty, the right of property is the most important individual right guaranteed by the Constitution and the one which, united with that of personal liberty, has contributed more to the growth of civilization than any other institution established by the human race. If it is to be eliminated from the rights secured to the individual, then we shall see disappear from our community the mainspring of action that has led men to labor, to save, to invent, to devise plans...to increase production...we shall see a halt in thrift, providence, industry, mental and physical activity and energy because they will no longer command the rewards that have heretofore stimulated them...There is reason to believe that the tendency of much of what has been termed "unrest" in society has been fed and stimulated by the jealousy of those who with envious eye are now looking upon the rewards of thrift and saving and enterprise enjoyed by others...I would not minimize the number of the unfortunate who in the struggle for existence have fallen behind...wherever the present law fails to square with the just requirement of modern conditions, I would amend it...at the same time dwelling upon their duties as citizens..."
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