The conservation of natural resources is the fundamental problem. Unless we solve that problem it will avail us little to solve all others - Theodore Roosevelt

[T]here should be a heavily progressive National inheritance tax on big fortunes. The really big fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. A heavily progressive inheritance tax on all such fortunes (heaviest on absentees) has the good qualities of an income tax, without its drawbacks; it is far more beneficial to the community at large, and far less burdensome to private individuals, as well as far more easily collected. A moderate, but progressive, income tax, carefully devised to fall genuinely on those who ought to pay, would, I believe, he a good thing; but a heavy and heavily progressive inheritance tax on great fortunes would be a far better thing.

No hard-and-fast rule can be laid down as to where our legislation shall stop in interfering between man and man, between interest and interest. All that can be said is that it is highly undesirable, on the one hand, to weaken individual initiative, and, on the other hand, that in a constantly increasing number of cases we shall find it necessary in the future to shackle cunning as in the past we have shackled force. It is not only highly desirable but necessary that there should be legislation which shall carefully shield the interests of wage-workers, and which shall discriminate in favor of the honest and humane employer by removing the disadvantage under which he stands when compared with unscrupulous competitors who have no conscience and will do right only under fear of punishment. Nor can legislation stop only with what are termed labor questions. The vast individual and corporate fortunes, the vast combinations of capital, which have marked the development of our industrial system create new conditions, and necessitate a change from the old attitude of the state and the nation toward property.

One of the prime dangers of civilization has always been its tendency to cause the loss of virile fighting virtues, of the fighting edge. When men get too comfortable and lead too luxurious lives, there is always danger lest the softness eat like an acid into their manliness of fibre. The barbarian, because of the very conditions of his life, is forced to keep and develop certain hardy qualities which the man of civilization tends to lose, whether he be clerk, factory hand, merchant, or even a certain type of farmer.