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

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as you know bonds are supposed 10
be the safest thing in the business
world
Now a word as to why the constita-
ton of Oklahoma should be amended
and want TO say in that connection
that from the floor OF the Scquoyah
convention ] had this provision put. in
10 the Sequoyah constitution From
the floor OF the constitutional conven-
tion of Oklahoma tried 10 have U.
put into the constitution OF our staie,.
but failed because didn't have votes
enough. To establish the system
rightly requires the establishment OF
a court. II necessary. with power OF
both original and supreme Jurisdiction,
a court for that specific work II re.
quires the express authority Of con
ferring certain semi-judicial functions
upon the keeper Of the tides; 1t re-
duires express authority for thg stale
10 guarantee title All OF these diff
ferent requirements are at least
questionable under the Oklahoma con
stitutiOn and certainly the constiiu-
lion prohibits the creation of any
court except courts inferior 10 The su-
prcine cOut.
Now a woid to the guaranty prop.
osiiio1. one might say that 1t is sub.
icei. and the charge has becn made,
to liability OF bankruptcy Itself 10
guarantee thesc titles. The method
If guarantee Is similar to the bank
guarantee law enacted by this logis-
laturc, that Is. when the suit is filed
20 clear the lille certain very small
icr cent (ln Massachusetts, obe.half .d
one mllO OF tiic value OF the land IS
put into . fund known as q "Torrens
lnaraniy Fund" and remaius there
yith which TO pay the owner should
he court make q mistake Ia the land
lftcr It Is registered The real owner
night turn up and prove that the
,ourt erred in its decision. but he
would have TO do this in The limit or
inc lin most laws within two vrars)
Jr he Is forever barred from bringing
,hc suit /. II he should do so he cani
recover lhe land but from lhis guar
snty fund he is paid tho value tilat
S placed upon the land AZ the time
he title was cleared up By the court
NC continue the present method
nd we win have to do SO unless we
mend the state constitution, OF loan.
ng the school fund on real estate We
viii run into extreme danger of los
ng lot OF that fund unless we had a
cry certain System such as the Tor
ems Land System would afford us
We need the system In Oklahoma for
nat reason more than any other. For
mother reason the titles are young
nat IS, transfers have been made but
short time. we could start out issu-
1g certificates upon the three million
cres OF school land and by that
means start big heavy acreage under
he system at practically no expense
We could take the allotted lands and
TO the same way SO there would be
bsolute certainty as to their title al1
within a generation every piece OF
md In the state would be carried
alto The court and its title cleared up
~ itself when the school fund being
oaned upon that would thus be pro-
ected. In brief the Torrens hand
system Is a quick, inexpensive GET
ain method OF ascertaining titles and
quick easy method OF transfer.
You will observe that the amend
nent proposed In this resolution does
OF compel the legislature or the peo-
lie of the state to enact the system
U this state. merely gives the legisia-
ure power to do II. or the people 10
10 It by initiative petition If the logis.
ature refuse. and thereby render II
anstituiional and give the system TO
t, not crippled as It Is IN Ohio. MI
lois aud as il is in some of the other
states. but In all its force and Figor
40 that IL will In fact benefit the
state.
Now ! desire TO read the resolution
ust as ! request It to be submitted
the people. IT would become Soc
ion 81. of article 5. OF the constitu-
ion aud would read as follows:
Section 81. The legislature shall
have power to provide for system
,f adiudicatlng laud titles and deterin-
iniug the rightful owners Of real es'
,ate, aud shall have power to create
The necessary court or courts with
Jurisdiction original. exclusive and sii-
premc or concurrent: and also TO pro-
iide for the registration OF land titles
and to guarantee the same and -
empower any department OF state or
,f any legal subdivision thereof 10
keep records Of land titles and shall
rurther haze powor TO create the roc