Page:An essay on the transfer of land by registration.djvu/39

 Mr. Gawler has also furnished a model register and forms of instruments, together with explanatory remarks, showing in minute detail the machinery by which settlements are effected under the system. These will be found in the Blue Book of the 8th May, 1876, pages 186—201.

I have next to deal with a class of objectors authoritative from their position, and persistent in putting forward fallacies which have again and again been exposed. Their contention is that, even if the system of registration of titles were applicable to this country (which they deny), it would be inoperative because titles are of two classes, viz., bad and good. The bad could not get on the register, and the owner of the good would have no object in placing them there, being perfectly satisfied as they stood. (See Article by Professor Jevons, Fortnightly of March last.) The fallacy here lies in limiting the classification of titles to two. There are, in fact, three—namely, bad titles, blistered or holding titles, and marketable or perfect titles. To place the first on the register with indefeasible title would simply be to steal land—a thing which nobody, so far as I am aware, advocates or proposes. As regards the second class (a very considerable section; some will say as much as 20 per cent, of the whole), the indefeasible title affords an enormous inducement, by restoring land to its natural value, relieved from technical objections and doubts induced by the present system of conveyancing. The holders of perfect titles, far from being "content as they are," have a powerful inducement to place their lands under the system which would save the expense and delay of subjecting it to be re-examined and approved by the solicitor of his transferee or mortgagee every time the property is dealt with. In short, the case of land with a perfect marketable title is analogous to that of a nugget or ingot of gold. It requires to be re-weighed and re-assayed on the occasion of each transfer, for which purpose a piece is chopped off. But, once passed through the Mint, the sovereign-stamp passes it freely from hand to hand