The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1910-08-16

Carolina is the Torrens system OF
Land Registration" said Mr.. john a.
WiIkerson, of Relhaven, who is doing
more to drain and put fertile land
on the market than any ma in East
ern North Carolina.
Mr.. Wilkerson is right, and large
experience in buying and selling lana
makes his opinion of value. proceed
ing upon the necessity of this great
reform Mr.. Wilkerson said: IF l own
$1,000 worth of bank stock or stock
in any railroad or industrial corpora
ton I can AXE that stock to any bank,
deposit it as security, and borrow
money on it. It costs me nothing to
do SO and the fact that I am borrow
ing is known only to me and the bank
or Individual lending me the money.
But if I have $1,000 worth Of land
or more. or own a little home or
on it I have to pay an attorney to ex-
anime the title, / have to pay him
to write a mortgage, and the fact
that I have borrowed the money is
put on RECORD in the courthouse, thus
advertising my private business. And
this trouble, expense and publicity
are made necessary every time [ wish
to borrow money on land It is a
hardship and a burden upon owners
Of land that makes dealing in land
slow and costly whereas it is to the
interest Of the State that land trans
fers should be so easy and inexpen-
slve hat everybody will wish to in
vest their money in and"
La the old times when practically
b only dealings i'll land were in the
purchase OF g. home or a farm by a
man who expected to live there dur
Ing his whole life, the present sys-
tenn was tolerated. but in this day
when all property should be SO 1t can
be exchanged with celebrity so as to
promote business and make an invest
ment in land as desirable as an invest
ment IN q corporation or in a bank 1t
Is out Of date.
Not long ago Mr.. Eugene c. Mas
sic, Of Richmond, Va, discussed at
length the Torrens system. The Tray
elhers Protective Association, which
favored the Torrens system. requested
Mr.. MasSie to prepare a brief state
r'eut showing the wisdom of that
system. In response to that reeuest
Mr.. Massie wrote the following ad-
In1faoie, succinct and comprehensive
summary OF the argument for the Tor |
rens system:
The State claims to be the owner-i
the original and ultimate owner-ef
all her ands. This ownership first
appear in her land grants, and is
now found IN the exercise OF the
right Of eminent domain. or escheats
and in the levying of taxes.
. Claiming and exercising these orig
tnai rights and sovereign powers,
it is the duty Of the State to grant
good titles to her citizens and to en-
able them to keep their titles good
equitable land laws,
This plain duty has never hereto
tore been performed by the State, and
.tme has now come when she
must meet her high obligation.
Tn 1900 there were 1o3,8o6 male
eftzers of the Commonwealth as
sscssed for taxes on real estate, val
ned, in each instance, al not less than
$30o. these citizens represent the
thrift and intelligence of the Com
mon"ealth, and their rights must be
respected by our law makers
The real estate Of Virginia is as
sessed at 343 Sd millions, or nearly
three times as much as all the per-
sona1 property returned for taxation
In the State.
You can sell your personal proper
ty or borrow money on it quickly and
at little expense You DO not have to
employ a lawyer to examine the title
10 your horse or cow, to your oats
and hay, nor to your stocks and bonds.
IF O try to sell your land or Dor
row money on it, the first question is:
Have you got a good title?
mo one Will buy nor lend you
money without being Statistic ed about
your title. 1t must be examined by a
lawyer, and YOU hav to pay the bill.
NIt dnAc not M tor hnW alton fba