The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1855-02-16
The Permanently of the Farmers
Property.

The following remarks from Holcomb's Address
before the Montgomery County Agricultural Soci.
ETY. IN Maryland is designed 10 exhibit the supe.
roriry Of the farmers properly, so lar at least as
It's permanence is concerned, as compared with
other kinds Of Investments:
The value Of a fund depends upon its perpe.
tuity; the continuance OF its existence. man
seeks TO earn what will support and serve him
and his posterity. He would desire 10 have tho
estate or property descend, as well as his name
10 his lineage, TO his children, grandchildren, and
great grandchildren for generations. This is the
object of his TOLL VIVA, then is the safest fund
in which to invest in this country? What is tho
only fund that experience OF the last fifty wears
has shown, with very few exceptions, would not
be quite unsafe as provision for heirs =! Suppose
the most prudent man in the country, fifty years
ago, had assumed trust TO him and his heirs oG
fifty thousand dollars, to be kept invested in stocks
Of any description for fifty years, the trustee and
his heirs, at the expiration of the trust to account
for the iund. Can any one doubt that the chances
are ninety nine in hundred that the fund would
be lost, and The trustee and his family ruined
o., If a like proposition was 20 be m1de 10 Il re-
sponsible trustee now with handsome commits
sion for the risk, pruden: man WOULD probably
decline the trust and avoid the reSpOns biiily. Yet
many are willing to trust themselves during their
lifetime TO manage this description OF property for
the mseIves, and they may, with good luck, be
equal 10 the task. But The O. esiion still occurs.
W hat is the probable duration Of such fund il
families? What is the safety of the fund Itself
invested in the current stocks of the country, and
next, what is the safety Of so available, Tangible,
transmutabIc a fund in the hands OF heirs There
are no statistics that | an aware OF, showing tho
probable continuance Of estates in land in families,
and estates in personal property. such as stocks,
But the remark OF gentleman connected with
large banking institution shows practically how it
works. He observed that he had noticed !hat an
heir was no sooner left stock in the bank than The
first thing he generally did was to sell and trans
fer ii, and was often the first notice they had Of
the decease Of the former holder.
I" Real esate-lands in preierence-or a fund
secured by real estate, is unquestonably not only
the highest security, but in the hands OF heirs it is
the only one likely to serve n single generation.
Hence The wisdom OF the common law, that nrnhcr
permits the guardian to sell the lands Of his ward.
or even the court, in its discretion, 10 grant III"
authority for their sale, but only upon good and
sufficient grounds shown, a necessity for rails
| ing fund for the support and education Of tho
ward. Even Lord Chancellor can only touch
so sacred fund for this or similar reasons. Aud
the common law is wise this subject most
others. 1t is the experience and observation OF
mankind thht such fund is the safest, and hence
| The provision Of the law.
"Those who acquire personal property then,
acquire only what will last about a generation.
longer or shorter; it perish"s, il passes away, and
is gone. There is undoubtedly more prrmanrncy
in real estate. 1t is not easily transferred /; it
is not so secretly transferred; the law has its Ger
emones to be observed before il can be transferred
and often the consent Of more than one person il
necessary, and OireD too when all other guards
| fail, carly memories will come iE-mpmorics Of
The orchard the meadow, the dccptangled wild wood,
| And every loved spot which infancy knew,
| that will make even the prodgal pause before part
! ing with his portion of his inheritance"