New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-11
The rIcDnnnsh Trust.

it aside as null and void The telegraph carried
hut brief description Of its contents to Balti-
more and before the full paper could possibly be
transcribed and sent the lightning brings back
notice that the heirs there viii also contest the
viii. Tic testator is but Eve days dead, AMI his
carefully prepared schemes intended for perpetui-
ty are assdileG on all sides as visionary aCd IN
practicable and contrary to publierght and public
policy. The millions which he boarded with 50
much care during seltdanyiug lifetime. and
which he had so disposed of as he thought that his
control over them should last forever are evident.
ly destined to furnish q rich harvest for host of
lawyers officers OF courts, and agents uuth0ught
OF by him and perhaps TO be dstributedin entire
disregard the plans whcht had been the study
and the passion Of his life to devise.
We are not sufficiently learned in the iaw to be
able to state the points Of legaltorm and substance
in which the viii is said to be defective. The
opinion Of its invaidity which we have heard ex-
pressed BY members OF tue profession is grounded
on principles OF lazy and decisions OF Courts aad
can be supported, we doubt not, by formidable
array OF lega learning. Theymay not be success
tH loriaw IS proverbialiy uncertain; butthe spirit
OF the age the prevailing ideas as to natural rights
and the repugnauce which in this country exists
and Is growing toward oyorgrown landed estates
and all immortal and teudal perpetuitics are
against the policy OF allowing such wills as this
to stand, il 1t he possible to set them aside with
out violations of law. Every State in the Union
mas we DCiIcNS. bbtlIsItt tuldt!St IGultNGu uit
impedimeuts upon the alienation and distribution
OF lands and Legislated to encourage partition and
subdivision. The holding of lands by corporations
at all is carefully guarded and jealousy watched
as departure from the genius Of our system,
even where the amount is comparatively light and
the dangerot engrossing unreasonable quantities
to the detrment of the general interest and IN
danger to the institutions eft the commonwealth IS
remote and coHiectur8
There is no State in the Union in which there
is not some principle established with which this
grand scheme of Mr. McDonogh's will does not
come into conflict in spirit if not in terms Eyen
in Great Britain where estates can be strictly
eutailed, the law discountenances the creation OF
estates ike this, whereby lands are conveyed in
trust to be increased by the annual accumuatons
and made perpetUally lnaeu8bte That jealousy
was shown iii the remarkable case OF Thelusson
about fifty years ago, in which testa0r attempt
ed BY extending his devises OF property much
less than this of McDonogh, TO accumulate pro
digious estate for one OF bis remote descendants.
Though the trust was TO cease within period
comparatively short, it produced quite an alarm
i'm the country The Will was established but
rev statute was made TO prevent any such tesla
mcnts thereafter. The testatOr, In that case, was
merchant named Peter Ihclusson, who had &C
cumulated large fortune IN trade and beng
smitten with the passion to make millionaire OF
one Of bis pOsterity made a Will III winch, alter
providing moderately for his wife and children, lie
left the bulk of his property, amounting TO about
$500 000 sterling, to be invested IN lands, and the
revenues and rents to be continually relnyested
in lands which were to be inaiienable. The &C
cumulQtions were to be conveyed to his eldest
male descendants In 4 certain line, we believe IN
the fourth generation, with such cross limitations
that twas supposed the whole would center in
one individual. In iact the helrshlp apparent Is
now in a single person. The VIII was disputed
as against law and public policy, but confirmed
by the Court of Chancery, and on appeal the de-
cision was affirmed in the House OF Lords. In
the pleadires it was estimated that the trust thus
established upon tGOo, QUO would lase ABOUT soy
entY wears, and the estimate Ct the product at the
end of the longest term at the rate OF interest IN
England, would exceed t32, 100000 sterling,
which is more than hundred and sixty mil
lions of dollars
| tons have fallen vastly below the anticipatons-
Every act of the trustees has to go through ex-
pensive course of law, and we have seen 1t stated
that the fees paid to courts and lawyers have
amounted to more than half a million sterling. In
the meantime the descendants OF the testator have
been living in very Strengthened circumstances
and we think that Lord Redlesham who is IN the
right line of Inheritance is OF the poorest peers
and has made application to chancery for some al
lowance out Of the estate, which like most other
funds managed by trusts. has paid betterdlyldends
to the trustees, lawyers and agents tha4 TO the
! estate Still the Accommodations have made n very
large property, to be paid over one day to the Tor
| tunatc heir The example was, however, consd-
cred so peruicious in England, that statute since
framed, has very muchresricted the power to tes
tators to lock up property by trusts
The estate bequeathed by Mr.. McDonogh is
much larger than that OF Thelusson--lts growth
must be vastly greater and more Fapld-and the
duration is perpetual. Ii the English nation to
whom vast landed estates are congenial become
alarmed at the consequences OF the power eXer
/ cised by Thelusson, much more will the plan OF
McDonoghs will for yesting such immense por
tons OF real estate in this city and nelghborhood,
inalienably forever, be treated as highly lnexPedl
ent, and utterly at variance with the genus OF our
/ political system.
The law in such cases IS bound to carry out as
far as practicable the main purposes OF the tesla,
tor so far as they do not conflict with the rights OF
society and the principles OF good goYernment.--
| Aud if we understand the will and are correctly
informed Of its legal effect it provides within It
self the means Of executing all Its benevolent
PURPOSES even if its provisions tof creating vast
monopoly of land shall be pronounced null.
THE ROBBERY or Mr. MtDoSoGHs HOUSE ~
LoUIsIAsA-Tbe New. Orleans Bee Of the 3Ist
ult. las the following particulars Of tie robbery
Of Mr. McDonogh's house
a large robbery, the actual extent of which has
not vet been ascertained was perpetrated on the
PREMISES OF the late John McDonogh, on the OPP
positc side OF the river, on Monday night last
Singular It may appear, it was not until yester-
day evening that some details connected with the
m0dllS 0perandt OF the transaction leaked cut. At
an early hour on Tuesday morning, James Thorn
ton black man and the confidential servant of
the deceased heard that one Jerry. a slave whom
Mr. McDonogh had owned for eight years past,
had been seen n town handling considerable
quantity of money. The slave was arrested, and
dvuleed the fact that the robbers. five in number.
had broken in at II o'clock at night had gathered
together very large quantity OF gold and silver,
OF which they gave him portion to hush up and
had then proceeded to break open two iron boxes
containing number Of bank notes, papers. &c.
The amount OF money stolen is quite conectu-
rail- though it is believed to be from 5000 to
$4,000 at least James Thornton the contiden
tiaI servant alluded to- states that bis master had