a term of years supposed to be sufficient to secure
to the inventor a reward for his exertion. The patent laws of the United
States protect the rights of an inventor for seventeen years, entitling
him to damages upon proof in the proper court of infringement upon his
patent. Such protection extends, of course, only throughout the territory
under the same government. It may be secured, however, in foreign nations
under special regulation, so as to cover the most of the civilized world.
The copyright serves the same purpose, and is limited in much the same
way, for securing to the products of thought or of taste a proper reward
for the powers exerted. It gives to an author control over publication of
his thoughts during a period of twenty-eight years, in order that the
users of his thoughts may actually pay what they are worth. This, too, is
confined to the limits of the government issuing it, unless by agreement
an international copyright is provided by the laws of the several
countries.

_Franchises._--A still more noticeable monopoly is granted by
municipalities under what is called a franchise for the establishment and
maintenance of water supply, public means of artificial lighting and
heating, or means of public transportation. These are under government
control usually in cities, because they employ the public streets for
carrying on the enterprise. The franchise is really an extension of the
license in particular directions. This is usually issued with the
expectation of great public benefit from a large investment of capital
which would not be made without relief from competition, because not
immediately profitable. The franchise usually carries with it certain
restrictions as to use of public highways and limitation to a term of
years. It necessarily involves the right of government inspection and
control for the general welfare.

_Difficulties from monopoly privileges._--All of these monopolies are
granted for the purpose of conferring upon the whole community benefits
that could not otherwise be secured. They are wise only so far as they
secure this result. If the patent right system wastes the energies of
inventors in contrivance of useless devices, there is loss; if it builds
up a class of mere speculators, there is waste; if it fosters monopoly
beyond the giving of a fair reward for invention, it is robbery. The exact
limit of time during which a patent is good stimulates to the utmost
exertion for wide in