Columbia University Libraries Digital Collections: The Real Estate Record

The Record and guide: v. 39, no. 990: March 5, 1887

Text version:

March 5, 1887 The Record and Guide. 287 THE RECORD AND GUIDE, Published every Saturday. 191 Broad^w^ay, 3Sr. "ST. Our Telephone Call is - - - - - JOHN 370. TERMS: ONE YEAR, in advance, SIX DOLLARS. Communications should be addressed to C. W. SWEET, 191 Broadway, J. T. LINDSEY, Busiuess Manager. Vol. XXXIX. MARCH 5, 1887. No. 990 spent $400,000,000 on the navy and then left us without a ship tha* was of the slightest value for offense or defense, cannot very well ask to be restored to power. A reconstruction of parties is inevit¬ able, and the old leaders on both sides must give place to younger men who are abreast of the times. The war of the indexes still rages. To-day we publish a commu¬ nication from Mr. Max Fast, whose voluminous article on the Prus¬ sian land laws enriched our pages some months back. Mr. Fast, it will be seen, believes neither in the lot nor the block system of indexing. He favors a survey of existing estates, not lots, and then all that subsequent deeds would call for would be the transfer of the particular plot designated on the official map. This is in substance the Torrens' plan, which has worked so well in the British colonies of the South Pacific. It also conforms to the Prussian system. This indexing would get rid of all the legal verbiage now employed to describe the property which is conveyed. The scenes of confusion which have prevailed in the House of Representatives during the past week shows the necessity of a radical change in the constitution of that body. The members care little or nothing for the public opinion of the country so long as tbey are secure of the approval of their several districts. At least one-third of the House should be chosen at large by the whole nation, or else they should represent groups of States. This would bring to bear a public opinion from the country at large on what would prove to be the most important third of the House. For, as our history shows, the larger the are i of territory covered the more likelihood is there of a better class of representatives. Then some provision should be made by which all the appropriation biUs should not be crowded into the very last week of the session. We have published a great deal on thifs subject of Land Transfer and the proper method of indexing the records. Our readers can form their own judgment on the various views presented. Every¬ one admits that the present system is intolerable. It is costly, wasteful of time and insecure. All admit that a reform is needed. Lot indexing is ideally the most perfect system, but to begin with there should be a survey of every piece of property now owned in the city. This would be so costly that the public would not stand it. But we fear that lot indexing without this preliminary survey would involve endless confusion, as the buyer and seller would not only have to describe the premises to be conveyed but the adjoining premises; hence the block system is so far preferable, as giving " defined boundaries," within the limits of which it would be com¬ paratively easy and inexpensive to furnish perfect titles. Business prospects are not quite so good as they have been. There is less demand for iron and steel. The grain and cotton growers are discouraged by the low prices they get for their products, and then the labor strikes have so far failed, which has led to a disposition to economize on the part of the working classes. These various depressing incidents affect retail trade and decrease the consumptive demand for goods. The laboring people in this neighborhood lost heavily by the unsuccessful strikes against the coal roads and the shipping lines. Stocks have been depressed, but the market for securities looks better as the week closes. The most promising interest just now is real estate. All dealers in realty speak cheerfully of the prospects for the rest of the year. It would greatly advantage the Democratic party if there was some way of retiring Messrs. Randall and Holman to private life. These gentlemen belong to a type of party leaders who are out of date. They are dominated with the idea that the United States is a bankrupt concern, and that its salvation depends on cutting down appropriations and being intolerably mean to all who enter its service. What this country really needs is that larger business talent which realizes that the truest economy is in liberal but wise expenditure. Our country has wonderful possibilities—it covers an immense area; but it needs many and large improve¬ ments to transact its possible business. It could spend anywhere from two to five hundred millions within the next five years with very great advantage. At the end of that time, steamers with a draft of thirty feet could enter New York harbor. The Erie could be riiade a ship canal. The waters of the lakes could be joined to the Mississippi. We could have great guns, ships and armored forts to defend our seacoast cities. Then we ought to have twenty powerful steamships that would be commerce destroyers in case of war, while in peace they might be employed under contract with private corporations in transporting our products to distant foreign ports. It is statesmen of this kind who will yet rule this country. The Democratic party can never hope to remain permanently in power while it is led by men who are bitterly opposed to every •expenditure! designed to protect the nation or add to its business uOacilities. In this criticism of tjie Democratic party leaders we have no intentipn o:f helping the old IJepublican party. That organization /iff morihuftd, Its fnissioii wap ended when the reconstruction of |ilie y^i9Q pn 9XL anti^s|ayery basis was