The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-10-07

! perhaps by reason of not being able
TO get The loan when he had landed
security he meets with financial ruin.
Now, the Torrens' system is the re-
verse, IL is not registration of deeds
and evidence OF title, 1t is an absolute
register of title. First, however, the-e
must be trial TO determine the
ownership and then all deeds are can.
cellcd and all except loans or liens
upon the land; a certificate Is issued
TO the owner fer the decree and after
that there is never but ono outstand.
Ing certificate and that certificate
shows every condition of title. ANY
man as soon as he sces the ccrtifi
cate and II Is marked "Torrens' Land"
snows that 1t Is good Il Is Just rs
sound and as safe as buying n govern.
msut bond: IN feet. the Wall Street
Journal last spring said That the
Torrens' Land Certificate Is the safest
security that could be made by law .
| have but recently letter from the
Governor General OF Ontario, In one
Of the provinces of Canada, In which
he said: "Of all the many things OF
which we are proud IN this province
wo arc most proud Of cur Torron's
Land Law Now. suppose tho hold
or Of n Torrcns' Certificate desired p
borrow some money upon tract OF
l60 acres of land, say $4,000 and ho'G
go 20 Representative briggs bank
over there ana shy / desire TO borrow
10000 MIR. Briggs would say. Is youl
land abstract land or Torrcns'?' II
he should reply abstract Al-. IIrigls
would say would like TO submit thai
to my attorney first; and perhaps a.
he end OF n week he might get az
opinion and then refuse the loan, bin
II he said It's Torrens' he would "a
( 'ct me see the certificate The mo
mcnt he looked upon the certificate
lc knew every condition OF The TIL
without a single cent or expense. NoT
The only thing ne would want to knon
would be the kind of iand or abou
what the land was worth. II he knev
II the land lie would be ready ther
rs he would ever be, to make the loaI
| because he would know the whole
power of the state was behind tha'
property TO protect he title. Nov
suppose he would loan the $4,000
he owner would have that certificate
'aneelled on the clerks records aud
new one issued to the owner, whom
we win suppose to be Representative
Rainey here. ON the face of that ces
tificate issued to Rainey, would be
this statement &c. w. Briggs hold.
a first lien for the sum of $4,000 or
this tract OF land" Then II Mr.
Rainey would show that certificate t
anyone II could be seen easily whs
the condition OF the title Is, that Is /,
say that the title in fee belonged t.
& NJ Rainey, of Atoka. but that G
W. Briggs. of Granite, holds firs
len of $4,000. Now suppose NJ
lainey at 4 later date would desll,
o borrow $4,000 and he should so (;
representative Robert gohuson's ban
the town Of Cbickasha. Mr.. John
sou would ask what kind OF land Is II
abstract" or "Torrens'2'' Mr. Raiue
sould answer II Is ATorreps." The
10 would ask 10 SEQ the certificate
gbep johnson looked al the certificate
10 would know he coudiiion OF N,
itlc aud the only question: that b.
would want 10 know Is whether or 10
he lsud would stand Que more hU1
lrcd dollars. II he know. from trave.
ug over the land or from bis persoI
kDowledge previously gained, il {.
20 valuable land be would be AS read
hou as be ever would DC TO loan ol
hat piece OF land. Should be max
| BE- loan that certificate would be can
clled and new one Issued showlnl
! that land belonged to II. NJ. Rainey
that the first Hen was held by &, W
| 3riggs for $4,000, aud that a seconi
len was hold by Robert H. Johusoi
'or Slo000 Now rs AIR. Ralucy lfaic
III that lieu the same process OF car
ceiling the certificate and the issu
Anco of uow ones eliminating the paS
ncAis until All bad leen paid ard ~
lens existing. there would mol be am
mortgages filed. but an liens wouh
,ltow themselves on the laco OF ih.
certificate. The transfers made wopie
ost the ordinary fe OF 80 cents Q
100. of getting certificates Of an,
natter or copies of ordinary ccrtid
atcs OF any matter Of record, II J,
ist simple, and indeed works on tn,
anic plan OF transferring stock IN !;
| corporation on the books of the com
amy, except the land Is transferred
Onthe books of tho Torrcns' Land Rec
ords by bonded officer OF The stats
usually made by the register of deeds
Now opponents OF this system whcl
they make an argument against Il they
begin to reciie that II Is declared un
constitutional ia Illinois and OhiD