THE PUBLIC TRUSTEE AND EXECUTOR.
ITo THE EDITOR OF THE " SPECTATOR." .1 SIR,—On Wednesday next, New Year's Day, an Act comes into operation which cannot fail to be of the greatest interest and advantage to the readers of the Spectator. The great majority among them are vitally interested in the administra tion of trusts, whether under settlements for the benefit of wives, children, families, or institutions, or under wills. The
lamentable breaches of trust, which have been so common in these recent years of wild speculation, have come home to many suffering widows and orphans for whom ample provision had been made. But it is not given to mortals to see beyond their own lives, and power devolving upon a sole surviving trustee has been too often abused. Now full security is offered on the credit of the British nation to settlors, beneficiaries, and testators that their wishes and interest will be faithfully observed for all time, within the legal limit.
You may not approve of some of my views, but on this accomplished task I feel sure of your approbation and encouragement. It represents the constant effort of a score of weary Sessions. Bills were introduced and moved night after night. Sometimes success seemed hopeless, sometimes it seemed near. At length, thanks in large measure to the present Lord Chancellor, the Public Trustee and Executor lives. As such he can never die, never become incapacitated, never leave the country. His office is in Clement's Inn, London. A postcard sent thither will bring a pamphlet to any inquirer, fully explaining how trustees can get rid of their liability, and beneficiaries of trustees, and how testators can name the Public Trustee executor.—I am, Sir, &c., [Sir Howard Vincent and those who helped him are to be heartily congratulated on the fact that on January 1st, 1908, the Act due to their untiring efforts comes into operation. —ED. Spectator.]
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