The Ashburton Guardian. Magna est Veritas, et Prævalebit. TUESDAY, AUGUST 17, 1886. The Settled Land Bill.

Ashburton Guardian, Volume V, Issue 1317, 17 August 1886, Page 2

The Ashburton Guardian. Magna est Veritas, et Prævalebit. TUESDAY, AUGUST 17, 1886. The Settled Land Bill.

One of the worst evils of the old world in relation to the tenure of the land is “ the power of the dead hand,” that is to say, the system of en ail which enables those who have aggregated enormous landed possessions during their lifetime to tie them up by will so that they cannot be subdivided after their death. It is this that has largely conduced to the landed monopoly which is the curse of England, and it is well that in this colony we have taken warning in time and placed upon our Statute book a measure which will effectually prevent the reproduction of a like evil in New Zealand. For some four or five years past Mr Conolly, Sir Fredrick Whitaker, and others have endeavored to procure the passage of a Bill to prevent entail, and this session the Settled Land Bill, introduced by Sir F. Whitaker, has passed both Houses and only awaits the Governor’s assent to become law. It is a very distinct advance in liberal legislation, and will be one of the land marks of a very important session, Ihe Bill, which is founded upon that drawn up by Lord Cairns, provides that a tenant for life of any settled land, that is to say, of any land which is the subject of a settlement by will or deed and which is limited to or held in trust for any persons by way of succession, may sell such lands or any part thereof provided the consent of the Supreme Court be first obtained. The proceeds obtained by sale must, however, be invested for the purposes of the trust in Government securities or upon mortgage of real property. Power is also given to the trustees under any settlement when the person entitled to possession is an infant or lunatic, to exercise the power of sale of settled property, subject to like provision of the Court. As to investment of proceeds very careful regard has been had throughout the Bill to the necessity of hedging atout these powers with all due precautions, and the measure as passed seems to leave little or nothing to be desired. It effectually prevents the possibility of immense estates, which have been acquired by individual owners in various parts of New Zealand, becoming permanent barriers to the extention of settlement, as those owners cannot tie them up by deed or will and cannot hold them after death by the power of “ the dead hand.” No matter what may be the terms of any testamentary disposition, their successors can divest themselves of the whole or any part of the estate if they so desire, subject always to the approval of the Supreme Court, and, hence it follows that the locking up of the land will very rarely extend beyond a single life. This is as it should be and it is well that so liberal a measure has been passed before the evil system of entail which has been and is the bane of older States has had time to take root among us. Sir F. Whitaker, as drafter of the Bill, deserves the thanks of the colony and so also do Mr Garrick and Sir R. Stout by whom the measure was greatly im- I proved in Committee. I

It will bo noticed from our report of the proceedings in the House of Repro seutatives yesterday, that the vote of £2OOO to Sir William Fox for services in connection with the West Coast Settlement Act was, as wo anticipated in our last issue, carried by a fair majority.