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Show REDUCE THE INTEREST RATE Numerous Plans for Accomplishing This by State and Private Aid Have Been Advanced. "The farmer, like every other business busi-ness man, should reduce the interest rate paid on his borrowed capital to the lowest possible point," says Dean F. B. Mumford of the Missouri college of agriculture. NumerouB plans for accomplishing this by state and private aid have been advanced, but many of them are omitting the Torrens and similar Bystems of land title registration registra-tion which will reduce the expense of obtaining land mortgage loans. After all possible help has been secured by other means, there will still be the possibility of obtaining further relief by this system If It has not been adopted. Either the system mentioned by Dean Mumford, or some similar system, sys-tem, is in use in Germany, Austria and France; so they can be said to agree on this point, whether on others or not. Under these systems, the expense ex-pense of abstract of title and of the lnspectim of titles by lawyers when land is sold, or a loan is secured by a mortgage, are avoided. Only the recorder's re-corder's fee is paid and there should be no occasion for securing an abstract ab-stract of title, having the lawyer inspect in-spect the title, or having a title guarantee guar-antee company insure your title. Every land owner would be practically practic-ally in the position of holding an original orig-inal patent from the government, and there would be no possibility that he would lor- his title through any earlier ear-lier faulty transfer as in case of failure fail-ure to secure the proper written consent con-sent of the heirs of the estate. In case the government has made a mistake mis-take which deprives the heirs or others oth-ers of land which rightfully belongs to them, it makes good the loss from a fund obtained by levying a very small tax at the time of registration. In Australia, where the Torrens system sys-tem was instituted in 1857, a tax of about one-fifth of one per cent of the value of the land has taken care of this part of the work. In other words, it would seem that mistakes were made which necessitated such a payment pay-ment for about one for every 500 farms registered. Naturally, there will be fewer compensations of this kind to be paid after the system has been thoroughly established than at the first, and the system can bo established es-tablished more readily in such new countries as Canada which has it just across our border, than in older countries coun-tries like England; yet in the county of London, England, between 1899 and 1909 319,300 such registrations took place as compared with only 4,236 separate sep-arate titles during the period preceding preced-ing 1895 in both England and Wales. Missouri has real estate valued at more than three and a quarter billiou dollars, and anything which will simplify, sim-plify, cheapen and make more secure -the handling; of titles to this vast wealth will be a great blessing. The Torrens system and similar systems are practically as cheap . i'nose I whereby stocks and bonds are regis-j regis-j tered on the books of the company issuing them and regarded as the property prop-erty of those in whose names they are registered. |