(Hear, hear.) I have for years
felt that the law of England in that respect, which we brought with us,
required amendment. In looking also to the laws of other countries with
respect to the transfer, mortgage, or encumbrance of real property, I
have come to the conclusion that the law of England is inferior to most
of them with regard to cost and security of title. The old Conservative
feeling of England adheres with a sort of veneration to laws and usages
respecting title which originated under the feudal system, and is loath
to abandon them for a system adapted to the requirements of modern
civilization. I would illustrate my views by observing that, in ancient
times, before the Wars of the Roses, a baron, or even a yeoman, would
surround his residence with a moat to be crossed only by a drawbridge,
and instead of the convenient door of modern times, he would have a
portcullis, which he would raise or let fall to admit a friend, or
exclude a foe. A visitor, too, would have instead of gaining immediate
access, to sound a horn at an outer gate, and hold parley with a warder
upon a lofty tower, before he could gain admission.
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