Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1873-02-18


beneficial both to the landlord and tenant.
The practical working of the system is as fol-
lows: One man owns lots, which he is unable or
unwilling to improve. Another wants house
and has the means of building, but has not cap
ital enough (or if he has it, cannot spare it from
his business,) to buy lot. The landlord, there
fore, agrees with the party who wants the house,
that he may build on his lot and pay perpetual
ground-rent, or with the privilege, at stipulated
time, of extinguishing the ground-rent by the
payment of a sum in gross
The advantages are three-fold. First, to the
public in having the property improved, and
thereby adding to the taxable property of the
city Second, the owner of the land gets mod
crate income from the prop erty, which other
erwise would have been unproductive; and
third, the man who wants the house gets it, with
out encroaching too much on his active capital,
and when his fortune improves, he can extin-
guish the incumbrance by the payment of the
stipulated sum in gross.
By this system, Baltimore, Philadelphia and
other Northern cities, have been greatly enlarg-
ed. Ground-rents constitute one of the safest
investments that can be found for the benefit OF
widows and orphans. They are not subject to
any fluctuations or hazards of bonds or
stocks, for they are liens on real-estate. This
system constitutes sort of partnership or COM
mon inserest between the land-holder and the
tenant, which is advantageous to both. Another
good effect is, that it promotes building and ena-
bles Industrious young men to get homes Tor
their families at an earlier day, and on easier
terms than they could otherwise obtain them
Its tendency also is to keep capital at home,
thereby comforting benefits on home people.
In the absence of this system, the owner of the
lot would either let it lie idle, bringing him no
revenue, or he would sell it, receive the price,
and send it off to be invested in distant railroad
or other bonds or stocks. The benefit of SO much
active capital is thereby withdrawn and invested
in such way as to stimulate enterprise and indus
try in distant quarters; whereas if thelot- owner
and house wanter could come to terms, the house
would go up, the money would be kept at home,
homo mechanics would be employed, home mar
kets would be encouraged, home labor would re-
ceive wages, and the three-fold advantages to
the public, the landowner and the house builder.
above referred to, would be realized.
Some such system would be beneficial under
all circumstances, but situated as we of
the South now are-wanting the use of all the
active capital we can co,nmand-it would be es-
pecially advantageous, as it would be safe way
of extending long credit to industrious men of
small means.
Some may object, that they do not fancy the
idea of having such an incumbrance hanging
over their property. We like to hear men rea-
son in that way. It shows they mean to pay
It shows that they have the right spirit, and that
they are made of the right stuff.
But to all such we respectfully say, that this
sort of incumbrance is better than a deed of
trust or vendors lien for purchase money, under
which, in case of inability to pay, you may be
sold out of house and home. Purchase money
comes at short interest and in large instalments,
which you may find it difficult to meet. The
ground-rent distributes the credit over long Sc
ries Of years, or is payable in amounts which
you can readily meet, and if fortune favors you,
you can wipe out the whole incumbranee IN or
10 or 20 years, as may suit you, and thus have
clear title.
We are free to say that this system strikes us
favorably, and we commend it to the careful
consideration of our fellow-citizens of Staunton.
-~-
HEART EcHoEs.-We have received a copy
of Heart Echoes by "Meta" MRS. Mary Lewis,
of Virginia), published by Turnbull Brothers,
Baltimore. The authoress is we'll known in this
county, and many of her sweet poems are famil-
lar to the readers of the county papers, for which
she has often contributed. She is daughter Of
Rev. DIR. Francis Mcfarland, Of Augusta coun-
ty, Presbyterian minister of great eminence
and who. for many years, was Secretary OF the
Presbyterian Board of Publication at Philadel-
phia.
There is pathos and tenderness in these po-
ems that could only come from true and low
ing heart. The mournfulness that pervades
many of them confirms the authors words:
These thoughts were born of grief"
For beauty of thought and poetic merit the
poem, Were Glorious in the Dust cannot be
surpassed. It glows with patriotic spirit that
must meet responsive thrill in every Southern
heart. The poem "We Brought Thee Home to
Die, Brother" is full of love and tenderness
It fills our heart with sadness and gentle SYM
pathy for the many in our land to whom it brings
home the memory of like bereavement. These
are merely specimens of the beautiful poems
which fill this little volume, and are truthtully
STYLED Heart Echoes We know Of no book
more suitable for present than this handsome
ly bound little volume. It can be had at Mrs.
Cowans and at Hunter & Co.'s. Price $3.50.
THANKs.-To DE-. n. Wayt & Bro. for home
preparation for the Hair, which has never
yet failed to restore the worst cases-and for ma
ny other favors They keep fully abreast of the
times in their line.
W. T. Jewell, express agent, Lexington, lays
us under renewed obligations for sending Litho-
graphic stone, now in our Office from an esteem
edsfriend. and other favors. He is 'jewer'-of
an agent.
Dick" Richmond DispatcRs Staunton CORES
pondent will accept our best bow, for the appre-
citation his letters show of the facts contained in
our 'local" IF he does not say "by your leave, +"
he knows what's what and where to look for news
of interest.
We are obliged to the young lady who sent US
the valentine about ''nows the time to marry
wife and several results of the course she urges
are the only impediments to our following her
advice but we have handed the document to our
handsome friend, Jack Doyle, and advise him to
Ego in and win"
Theo T. Shuey, of y. s. Senate Reportorial
Corps, will accept thanks for valuable documents
received last Friday. He couldn't have confer
red greater favor at this time.
LIVE MEN.-The Peytohs, fully up to the Sea-
son before them at the White, have already COM
menced preparing to accommodate the vast
crowds that will pour in upon them. Geo. L.
Pevton was in our city last week and as busy as