The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-06
THE ,o..isrNs ~ TEN.

THE ,OatiENS ~ TEN.
IN another column we publish a very
interesting interviaw with Mr. Eugene c
MasSie in regard 10 the Torrens system
This system has been in use in Queens
land for tairty-eight years and for forty
one years in South Australia.
1t has recently been introduced into Mas
sacnusetts. where it is giving the creates
satisfaction. Ii was attempted by some
properly owners in Massachusetts to have
this system of Registering of land titles
declared TO he unconstitutional, but tbs
Springfield Republican, III a special lette,
tom Boston, says HAT the United States
Supreme Court has declared t:lat the
question of registration OF land was one
taat did not affect the Constitutional
rights Of a ciIlzen, and that the act at
for6ed sufficient opportunity for fair
hearing before the Massachusetts, courts
and offered 10 ground for tie interference
of the Federal courts. We quote from
the Springfield Republican:
TIE great aayaHtage OF tie system for
business purposes is Illustrated by Record
or Smith Iii Il case which occurred the
ether day, showing how The man who
wants 10 oUc.uw and the man or inStitu
ton Uitl money to lend are botn pene-
fted a man with real estate in the North
End OF Boston, which was valued at
about $l0.ogV had registered It under the
TOrrens law He vent to the bank am
wanted TO borrow on the certificate Tie
representative Of the bank saw The prop
erty III the morning, and the papers were
al. passed and the TRANSACTION finished
about i O'Clock the same day, instead OF
covering two or three weeks with the
search OF the title and other delays. Tae
certificate of land ownership can be used
for borrowing upon, just The same as a
certificate of stock, and the State guar
antees the title.
The court has been doing about all the
business gu ing the last year Tor VII en-
it has facilities. Most Of the business
comes nom The metropolitan district.
though there are cases from Lowell and
other cities at a distance. The western
part of the State has not been much repre-
presented in the petitions presented. Only
one case has come down from Springfield.
and that has not yet been passed upon
Recorder Smith says that ii is not TO be
expected that there viii be a sudden in
crease of business in consequence of this
practical decision ~ 40 United States SD
,-eme Court sustaining the Massac!lu-
sets Supreme Court in uphodine the con-
stitutionality of the law but it is to be
expected that the public will gradually
show a preference for the Torrens system
as it5 advantages over the old system
come 10 be familiar TO them.
While the case has been pending con-
siderable business has been transacted
by the T0rrens court. The aggregate OF
fees turned into the State Treasury dur
ing ..le last quarter was greater than IN
any other quarter since the establishment
OF the court. For the last two years
The record Of fees paid over quarterly
as follows: January. 1899, Slsl.6' April
S5ll5S; July. sa4a G2: October. s6SS.91: jan
uary. 1900 $250C2: April, s90S.S5: July,
SSS7.S9: October, $1,1540S Comparing the
corresponding quarters Of the two years,
II appears that every one of 1860 had a
material increase over 1899. except that
there was a small decline in July. while
the October increase was very large. me
entire assessed value Of the land covered
hy petitions presented to the court since
rs formation both the cases settled and
those still pending. amounts to s1.43o55I,
Recorder Smith. of Massachusetts, who
has Charge of the Central Land Court,
which busies' Itself entirely with registra-
ton and protection of land titles
that il is no. ~ be expected that there
viii be any sudden increase of business
under this act but that it will inevitably
produce a steady growth in the public
mind of a sentiment of confidence in
titles SO registered and that as corollary
TO the growth Of confidence Will come
appreciation on the part of the public
that viii render their ownership of real
estate a readily available asset for col
lateral or for sale.
We cannot but believe that the day will
soon come when the historian will regard
our curnbrous forms of land law at pres
ent with the same superior smile Of con-
descension that we now give to the ages
When contracts were tried with swords IL,
closed lists by wager Of battle. and the
right of ownership on the part of the heir
depended more on bis powess with weapons
Of war than on any imminent or title or
right of BIRTH
The enormous increase of the investment
OF public capital in the joint stock COM
panies of the world is a direct outcome
of the fact that money so invested is
easily transferable. and it is remarkable
thing that the most valuable asset that
mankind has land. the very source OF our
ifc itself, Should be hedSed about with
difficulties that make dealings in it mat
tiers that are perilous even for the most
experienced lawyers and careful agents.
There Will be few minor questions before
the Constitutional Convention that will
merit their attention and give better pros
pect Of benefit to the State than the
adoption OF some system similar 10 that
embodied under the name of Torrens sys-
TEN.
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