Beckford v tobin Nov construction of will interest of legacy from death of  testator on the manifest intent as to maintenance see Crickett v dolby Ves  Mitchell v bow ibidem sitwell v Bernard Ves Gibson v Bott Ves c see also I Sch  and Lef and Lambert v Parker coop Rep Ch supplement p sir James tobin have a  estate in south sea and eastindia stock leasehold and some share in ship by  his will give pound to two trustee to be pay and apply in such manner as he  shall by write under hand and seal order and direct make they and two other  person executor afterward by a codicil he direct the trustee to apply the  pound to the use of a boy call Michael age five year and then live with John  tobin and his maintenance and education to be pay out of the interest of that  pound this be a appeal from a decree in for the appellant interest for this  legacy shall commence from the death of the testator and as to the rate in  general where it be out of personal estate it stand as a debt on the estate  and therefore be a debt which will bear the legal course of interest as even a  voluntary bind will so a contract for any sum with interest mean legal  interest and here the word interest be mention in several case his lordship  have determine that a general legacy vesey senior without mention of interest  or any time shall bear five per cent and it be the constant rule where out of  personal estate unless a intent show to carry less than the legal interest but  not so where out of land as no real estate common speak produce more than foar  this be the whole provision for a infant and by one oblige by nature to  provide for he as his illegitimate son the testator have give interest and the  court will construe it legal interest which take it out of the discretion of  the court as much as if the testator have give legal interest No laches can be  impute as he be a infant at the time of the decree for the residuary legatee  there be no direction in the will to pay the interest vesey senior er p from  the death of the testator nor any thing to take it out of the common case of a  legacys not be Payable till one yea after the presumption in favour of a  legitimate child not hold in the case of one who be a mere stranger have a  legacy the time of make the will in be material for from thence to the time of  the decree no more than four can be get till the exigency of the government  upon the war with Spain raise the value of money and then the court where out  of personal estate give five because the value of money be five in government  security there be also particular circumstance to distinguish this legacy and  to give but four per cent although five shall be give for the other legacy in  the will the trustee actual have the money in their own hand if then they do  not place it out as they ought the court will make they by that interest which  can have be get if place out beyond which they can be charge the court do not  supply in favour of natural child by the same rule as for legitimate child  such as the defect of surrender and the mother S covenant to stand seize to  the use of her natural child be void there be no blood it can be reduce to a  certain rule here what interest shall be give for a legacy no more than at law  what damage a jury shall give wherever the thing exceed the demand for it the  price be low so in money as well as other commodity exigency will vary the  rate of interest and there be several case where four have be give though out  of a personal fund the best rule to go by be what interest can in general be  get at that time and there be no fund then upon which five can be get land or  government security be the only two thing upon which the trustee can fair lie  it out unless perhaps by small sum to tradesman upon which if any failure the  court will make they suffer the infant only acquiesce under a order without  complain that he have a low rate of interest than he ought vesey senior Lord  chancellor as to the first question I be of opinion that in this particular  case there ought to be interest from the death of the testator and not only  from the end of one year after note legacy Payable within a year legatee have  no notice of the legacy till the executor publish it in the gazette no  interest shall be pay pre Chan the rule be true that the interest of a general  legacy for which no time be appoint be from the end of one year vide Ves c Ves  Sch and Lef c which be strengthen by the statute of distribution give one year  in the case of intestacy to distribute the same reason hold where there be a  will and executor yet that rule be not find upon that statute be a rule of  this court before who take it from the ecclesiastical court which give the  executor a year to get in the estate and pay the legacy before he shall be  compel to give a account c and as this court have a concurrent jurisdiction in  the case of legacy it have follow that rule that there may be no variance in  the rule of justice and allow that time of a year where no certain time be  mention yet there be exception thereto one of which be the case of a legacy by  a father or mother to a legitimate child whether by way of portion or not if  it be give general the court will give interest from the death to create a  provision for its maintenance and if Payable at a certain age and the child  not otherwise provide for the court will give interest in the mean time before  that age but the court have not extend this to a natural child for two reason  first from the rule of law consider a natural child as no relation have indeed  no civil blood second that it be not fit for a court of justice to give the  same countenance to such child as in the case of legitimate child and to  discountenance practice of that kind the court have take they to be out of all  such provision as the supply defect of surrender for they c but the ground of  the present case be from the word of the will and codicil although nothing  particular can be infer from the pen of that clause in the will unless as it  take in the act he do afterward otherwise there be no pretence that it shall  carry interest before the end of the year but in the construction of the  legacy the court must take in the codicil which must make part of and have the  same effect as if it have be in the will and then it amount to a legacy in  trust the trust explain the intent govern and direct every thing relative and  consequent the time of payment as where the trust import a fee it shall be so  construe although the word of the devise will not carry it then consider what  direction this codicil leaves as to the time of payment No particular time for  the commencement of the maintenance and education which must be mean continue  throughout and during that whole time the pound must carry some interest the  court have say vesey senior er p that interest shall follow the principal as  the shadow the body and that in the case of collateral relation as in Vernon v  Acherly bro p c and ed it carry interest before the time of payment vesey  senior come although the testator direct payment at the time of marriage and  great stress be lie on a case in Lord nottingham time where there be a  indication of separate it from the bulk of the estate but there be something  decisive here that unless the court make this construction this child if he  die within the year will have no maintenance then no one can expend any thing  thereout for he and whoever have maintain he will have lose his money as to  the next question in general the court exercise as large a discretion as to  the rate of interest upon legacy where interest be not particular give as in  any case and difficult to reduce it to a certain rule I do not know that where  the testator have say interest the court have hold itself so bind as insist  upon for the appellant to give the legal interest but suppose for argument  sake it be so the testator have take for grant the pound will carry interest  it be to be consider as take out of the bulk of the estate to be place out by  the trustee in who hand the codicil have consider it distinct from the other  two executor there can be a strong implication than that his intent be such  and their duty be to have place it at interest as soon as possible and  thereout his maintenance be to come which be his view and no direction of that  kind mention so as to confine the court to legal interest then what discretion  be to be use the general rule have be between interest of legacy charge on  land and on personal estate and where nothing more the court have say that  land never produce profit equal to the interest of money and will follow the  course of thing and give interest where charge on land one per cent low than  the legal interest so it be when the legal interest be at six but in general  where a legacy be out of personal estate the court give five note not so now  the court allow but per cent vide Ves c and unless that be take to be a sort  of rule there will be no distinction between they I agree that notwithstanding  this after the great fall of the value of money and rate of interest in many  case where the court be to give interest by discretion four only be give when  upon personal estate as believe sir Joseph Jekyl do yet the court lie hold on  some particular reason although perhaps not in every case general on some  inquiry upon what kind of fund or security the testator estate be place out  and in some case send it to the master to inquire and where they find it do  not produce more than four direct but four there be thenno certain rule I will  not vary this decree as to the rate of interest it be true the appellant be a  infant at the time of the decree and not preclude by the order make yet his  make no complaint be a kind of waiver it now come before I on the general  report of the master and it appear on what kind of fund the estate stand out  which believe compute round do not make quite four the dividend on the share  of vesey senior ship be mere contingent but there be another reason for not  vary the decree from the intention of separate this from the bulk which if the  trustee have then do and place out it can not have produce more than four  which be a good rule to go by but as to the time of commencement the decree  shall be vary Reg lib a fol this be the rule if the legacy be out of the  personalty unless the time of payment be mention but if out of the realty it  carry interest from testator death as the land yield profit wms atk interest  from a year after testator death if specific from the death Vol