The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1913-01-07
THE SYSTEM.
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be enabled to collect her taxes
promptly and nc mans land, when
thus registered. can be sold for de-
linQuent taxes without his knowledge.
Everybody who deals in real estate
will be benefited. The cost of trans
actions in realty will be lessened. The
market will be stimulated and enlarg-
ed and values will, OF curse, be great
ly increased. An influx of immlgra-
ton will be a result.
The small investor will be greatly
encouraged to deal in real estate, for
he will then be able to procure small
loans on short time with trif1ing ex-
pense, whereas now the same is i'm
possible. 1t should be made SO that a
man can use his real property in like
n as his stocks or bonds or notes
or accounts-Quickly-at little eX-
pense, for short time, and for such
moun as his demands require.
I estimate to have the title to real
property in North Carolina registered
under the Torrens System should
average about $4,000, Plus the prem
ium of. say. $500 for insurance or
guarantee. The cost Of future trans
fers should be only about one-tenth
Of one per cent upon the value Of
the property transferred, to. pay for
transfer and insurance charges.
The Introduction Of the Torrens
System in North Carolina YOU mean
to the people and the banks an in
crease in bankable resources Of three
hundred million dollars, six times the
present Of all u banking
institutions, and [ believe the aving
in a fe wyears would be a sum suff-
cient to m~acadamize every country
road in the State.
The greatest good to be derived,
however. is encouraging the purchase
of land, for the small land holders
are the most precious part Of a
State"
The State claims to be the owner,
the original and ultimate owner of all
of her lands. This ownership first
appear in her land grants n is
rights Of eminent domain, escheat
and the levying Of taxes. Claiming
and exercising these original rights
and sovereign powers it is the duty
Of the State to grant good titles to
her citizens and to enable them to
administration Of equitable land laws.
This plain duty has never heretofore
been performed by the State, and the
time has now come when she should
meet her high obligation in this re-
gard.
The system proposed is no new and
untried one. It's basic principle is the
registration Of the title to land in
stead of registering, as the presen,
system requires, the evidence Of such
title. The constitutionality Of the
Torrens law as enacted by several OF
our states has been passed favorably
pon by the Supreme court of the
United States. The system has work
ed successfully elsewhere. It can be
made to work successfully here.
Though difficulties will ~undoubted-
ly be encountered, in bringing abou
the desired change in an old system
which has been In operation for 81
, many years, the great benefit to tn,
> public in the economy Of time, labor
. and money, and the absolute estab
!, lishment of titles to our lands will
very much more than outweigh them
This is not a party measure. I
appeals to the members Of all parties
and is intended to benefit all Of on
people.
It is not proposed to make the ney
system compulsory, but optional. lie
those who desire to do SO conform
to the present laws, and let thos
who prefer the new system have tn
opportunity Of availing themselve
d Of il.
6 | hope soon after the converting &
r the Legislature a strong Joint commit
q tee from the Senate and the Hous
II VIII be appointed to consider an
e draft such a bill az Will meet tn
needs and wishes Of our people.
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