The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-17
A GREAT THING FOR CHICAGO.
Adoption OF Torrens Title system VIII
Stimulate Trade.

Adoption OF Torrens Title system VIII
Stimulate Trade.
New York Sun.
a question CT some moment 20 the well
fare OF Chicago was answered IN the az
iirmatiye on Tuesday by the voters OF that
city. The question was whether the Tor
rsns laa1 title system should be adopted,
and the proposal was accepted by the hand
some majority OF 1869. Many OF our states
have borrowed their ballot systems from
Australia, but the city and county OF Chi
cago Is the first American community to
recognize how powerful a stimulus 70 rapid
ana extensive development would be given
~ the application OF another Australian
Invention, namely, the Torrens scheme for
the guaranteeing as well as registering OF
the titles 10 real estate.
IL Is no fault Of ours that the merits OF
such a system were not long ago appreciat-
ed and turned to account in the state Of
New York. In the proposed Civil Code, OF
which the late David Dudley Field was the
chief author and advocate. he wished to IN
corporate provisions assimilatns real 70
personal property, and conveying tito
thereto by methods substantially Identical;
but on this point he was overruled by his
colleagues on the commission, Alexander
W. Bradford and William Curtis Noyes.
Some eighteen years ago we pointed out
that the objections 10 the workableness or
Mr.. Fields proposal were not well taken,
for the reason that othes English-speaking
communities, which hitherto had lived IN
der the English common law, had carried
out IN practice Mr.. Fields idea by causing
the state TO guarantee as well as register
titles to realty, and making the certified
proof thereof as easily and quickly nego-
table for purposes OF conveyance or mort
gage as commercial paper. II any legis-
lator had come forward and acted with
vigor and success upon the suggestion, he
would have acquired a hold on the voters
OF the Empire commonwealth scarcely II
at all surpassed by that OF De Witt Clin-
ton; for aImOA. every citizen either Is or
desires TO become the owner Of home,
and is only deferred therefrom by the eX-
cesslve expenses and the annoying delay
now incident 20 the transferring and ell
numbering OF real property. But no legls-
lator came forward, and the only visible
effect Of our suggestion was the establish
ment in the city OF New York or two prl-
waite corporations for searching and guar
anteeing titles TO real estate. We have no
wish 10 underrate the usefulness or these
companies. but their intelligent directors
will be the first 10 acknowledge that any
function they are able to perform is but
poor substitute for that which might be
discharged by a state or municipality, ne
cause, first, no purchaser or mortgage Is
bound 10 accept their search or guarantee,
and. secondly. the double service, for which
can be secured in Australia for a few
pence.
What ia the land title scheme. which
from the name OF its deviser has become
known all over the neutrality-suspicious. world
as the Torrens system? The tundamental
motive OF the plan is colled deep about the
roots Of indivldualism as opposed TO social
ism 1t IS based on the conviction that II
IL the interest OF n decentralzed, SELF
governing, truly democratic state to pro-
mote the multiplication OF homes owned
by their occup4ers. or, in other words, 10
give the largest possible number or clti-
zens a stake IN the country. To that ehd
an obvious means would be the removal or
the causes which IN nglish-speaking COM
munitles have rendered real estate much
less desirable investment than personal
property for the savings OF poor men or
men OF modest incomes. owing partly u
the heavy incidental expenses connected
with all dealings IN the former species OF
property. and partly 10 the vastly greater
ease and rapidly with which the latter
species could be sold or used as security
for a loan. All the causes which tend 10
hold back the mass of a people from plac-
ing their surplus in real estate We're swept
away at a stroke by the s0-caIed TorTens
land act, which first became a law IN
South Australia. but which, as its benefits
became incontestable, was rapidly adopted
by other Australian colonies. Under this
LEGISLATION the state, through officers des-
ignated for the purpose. undertakes an
exhaustive and careful registration OF the
titles 10 all lands within It's boundaries.
The registration completed, short con-
else certificate Is issued TO every land
owner. and to him, his heirs and assigns.
the validity OF the title certified Is guar
antced by the state against Impeachment.
Furnished with this certificate. a land
owner who wishes 20 sell or mortgage his
property goes TO the nearest registration
ofiice-there IS one for every small fraction
OF the popula tion--aud here the registrar
inseribes in the proper book and on the
back OF tho certificate the name OF tho
grantee II a sale Is intended. or, Ina ease
or a mortgage, the name OF the mortgagee
ana the amount o. money loaned. The
transferring or REMEMBERING OF title IS CT
fected IN few minutes. about as long as
10 would take % procure tie d-scouutns
CT a note at a bank. Now for Tie fee
This was intended not only 20 reimburse
the state, proportonatcly Tor the original
cost oE searching anu Tor the current eX-
pcuse q maintaining corps OF registrars.
but also 20 provide an Insurance t0nd
against the results Of the discovery ar
flaws IN the titles guaranteed From the
outset the belief was entertained and
n ted on. that zee or a shilling CT two
for each transaction would be ample Tor
all purpose. But * turned out ~ every
colony where the Icrrcns system Was
adcpted. that the losses threatened - the
state through defects N the titles guar
auteed had been much overgatcd while
the revenue flowing fCon the regis ,ration
Offices. owing 20 the tremendous multiple
cation of transactions. had been as sig
Dallv underestimate. The result has been
that the fee for the Transferring or en-
,.nn,berfng OF titles has been everywhere
ems down frora shIlngs % pence AS
things nov are an Australian can con-
Vev or rnortrage A piece q land worth
millions a. dollars .u t1e space ot five uin-
utes and f1r the prise ~ a cigar.
such d the mcttei lf dealing with Land
titles which has been adopted nv the city
and county OF Chicago. The rtsultz WI
rrohah,v 10 m'red CT al Americans by
the opening o. tae twentieth century. No
doubt Ca.car0 is wide awake % IS oUH
Interests. wlua some o. its rivals seem