THE PUBLIC TRUST OFFICE.

Nelson Evening Mail, Volume XVI, Issue 50, 28 February 1881, Page 4

THE PUBLIC TRUST OFFICE.

(N.Z. Times.) In these days of progress, were it not for the gropa and almost criminal negligence displaced, it might be thought scarcely necessary to remind persons that they have duties to perform which, if neglected, not only bring disaster of the most serious character on whole families, but prove that those who fail to discharge these duties are wholly wanting in the very qualities which they assume, and would fain lead others to believe that they abundantly possess. "Want of ordinary forethought, lack of common prudence, are deOciencies which such persons exhibit in a lamentable degree. Ninety-nine persons out of every hundred appear to consider the great business of life is to make money, but the proportion of those who consider how money should be used when made, might be more correctly estimated by the odd one of the hundred. Money, in common with other blessings, is given to us for our own benefit and for that of these entrusted to our care. It is a frustration of the intentions of the Giver, if we wilfully neglect to provide fsr those of our own household. We do not refer so much to the mere provision for present wants as to the provid ing for the requirements of those who may at any moment be rendered destitute of the very necessaries of life, if these wise precautions be neglected. Mere selfishness induces energy while life and health last, and impels men to use their utmost exertions to secure prosperity, or at least to live decently in the world, but a reckless carelessness with respect to the future causes them to forget or neglect the duty of saving against the day of death or adversity. There are other pretexts for the heedlessness with respect to the future. It is said by one, " I have to work for my living ; let my children, after I am gone, work for theirß." By another it is said, " What is the use of my saving for others ; ten to one it will only be squandered by them." To the first of these it may be replied, u How do you know your children will be of age to work when you are taken from them ?" To the second we answer, " It is mere assumption on your part that your hard-earned savings will be squandered ; but, in order to prevent this, make such provision as shall preclude the possibility of it. You have the power of putting your property in the hands of your friends, who, after your death, will look after it, and eee that your wife and children do not want." You reply, " There are certain things with which I never trust my friends during my lifetime, when I can exercise a certain control over them ; one of these is my money ; certainly 1 will not trust them with it when I am no longer able to exercise my control. Besides, when I remember A.B. and C, men esteemed aa highly respectable and deeply religious until tbftt (for them) nnfortunate exposure of the way in which they mismanaged certain trusts committed to them, I am not inclined thus to hazard my bard-earned savings. Nor do I wish my friends, ■who love and respect me cow, 10 consider me a bore after my death, or regret that I bad entailed so much trouble arid responsibility upon them." There is a great deal of good comtnor, sense in all this. Tb*re is no doubi that trustees do experience trouble and difficulty in connection with private trusts, wfeilst thoee beneficiully ir>terested in them are liablo to be defrauded and deceived. We can read almost daily of instances of iraud, of family quarrels snd embezzlement it cocneeUon with privale trust?, and these things show Low difficult it is to obtain persons properly qualified to undertake the dutus of trustees. Ihe Government of the colony, recognising all this as true, although one of England's lateßt acquired poeseesions, bee taken a step far in advance of other colonies, and even the mother country herself, by providing for the administretion of estates and trust properties, without the slightest fear of loss or even risk, either from incapacity ol mind or diahoneety of purpose. We allude to the appointment of a Public Trustee, whose special office is to administer all estates of which he may be appointed executor by will. Besides this be is empowered to take charge of all kinds of money trusts, such as those nnder marriage settlements; some to be invested for the benefit of minors, or bequeathed for charitable purposes; moneys, the title to which is in dispute, or the legal owner of which is unknown; to administer all intestate estates, of which letters of adminstration bave not been granted to relatives or other persons entitled thereto; the realisation and distribution of the residues after the payment of all just debte. The edministration of the estates of lunatio patients also devolves on the Public Trustee bs well as the protection of all lands, lying waste, of which the owner is unknown, or has been absent from the colony for ten years without having left any known agent. Thus it will be seen that the number of cases needing tbe appointment of private trustees most be very limited, if not absolutely reduoed to nil. No one can poseibly object with reason to entrust his property to ehe care of tbe Public Trustee. The whole colony it responsible for tbe due fulfilment of all trusts, and for the safe custody of tbe property placed under the charge of this officer ; and by one judge at least it has been expressed that it is a satisfaction to the Court to be able to appoint • public officer to discharge certain dutieß (which the Court has power to do) inßtead of having tbe name of some person proposed into whose fi.'ness for tbe office the Court would have to enquire. It must be added, that whilst for the protection of persons placisg property in tbe Publio Trust Office, the colony is made ultimately responsible, to preserve the public funds ae far bb possible from lose, no trust cen be received, nor any property parted witb, wiibont tbe consent of a board, of which tfc<- ColcDiul Treasurer and the Attormy-Gtnerul of the colony are members ; nor can tny noiey be issued without tbe epprovul of ihe Auditor and Controller- General.

* It has been decided to make Portsmouth a Roman Catholic See, and the Bishop of Southwark recently laid the foundation stone of a cathedral in the town. The estimated . OBt •« the building is £24,000