The question of property is now again receiving the attention it needs. Catholics have for too long assumed that there is no difficulty about it. They have taken for granted that Communists and Socialists wished all the means of production, distribution and exchange to be public property and that Capitalists supported private property. They have taken for granted that it is a principle of Christian teaching that private property is a natural human right and that, therefore, Capitalists were on the whole in favour of Christianity, or at least that Capitalism was not anti-Christian. The development of Capitalism in the direction of large combines, cartels and monopolies has been so gradual that it has passed unnoticed that this development has involved the destruction of private property among the masses of the people. The growth of Communism and Socialism has therefore seemed to be mere wickedness.

But the events of recent years have opened our eyes. At last we are able to see that the development of Capitalism with its accompanying development of machine industry has in fact undermined and to a large extent destroyed the reality of private ownership and individual appropriation, and that, in consequence, the development of Communism and Fascism is inevitable, that in fact these movements are the logical conclusion and consummation of Capitalism.

Take as a simple example such a thing as the Great Western Railway. Before the coming of the railways there were the Stage Coach and the Carrier. Any man with a horse and cart could run a passenger service or could carry goods from town to town.