"I absolutely insist on protecting private property. It is natural and salutary that the individual should be inspired by the wish to devote a part of the income from his work to building up and expanding a family estate. Suppose the estate consists of a factory. I regard it as axiomatic, in the ordinary way, that this factory will be better run by one of the members of the family that it would be by a State functionary—providing, of course, that the family remains healthy. In this sense, we must encourage private initiative."