The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-08
THE VALIDATING BILL.
How 1t Passed the House.

The Columbia Union (Radical) gives the fol-
lowing report Of the circumstances attending
the passage of the valuation bill In the House
OF Representatives on Wednesday night:
The bill relating to the bonds of the State
of Sonth Carolina, making valid all the bonds
and obligations Issued In behalf Of the State,
as mentioned and set forth In the report OF the
treasurer of the State 10 the General Assem-
bly,, ratifying and confirming all the issues,
and declaring the bonds 10 be legal and valid,
for the payment oil which the faith, credit and
funds of the State are pleged, was the signal
for another long test OF strength of the several
factions. A part of the minority fought the
bill with all their might, and another portion
sat apparently satisfied with the uselessness
of contending against 1t, Mr.. Yocum voeiier-
ously endeav0ring to get the ear of the chair.
Failing to do This, he continually called "Mr.
Speaker" as each vote was recorded, until
compelled to take his seat by The ruling of
the chair.
Section eleven was reconsldered and mo-
ton made to strike out, which was carried.
CATION or loan should be created without q
two-thirds vote Of the legal voters OF the
State, except for the purpose OF meeting Its
existing obligations. The bill was passed to q
third reading.
The following protest was made by part of
the opposers, and an additional one on the
part OF the opposing Republicans, 1t Is said,
will be prepared:
"Upon passing the bill relating to the bonds
OF the State OF South Carolina to it's third
reading, We vote no upon every section and
line, tor the following reasons:
"Under this bill, tax Of six mills, in addi-
tion to all other taxes, must be levied to pay
the interest on the amount of Slate debt as
reported by the treasurer. This will swell the
toz tn1 hn la 20 ,tr,
mills, exclusive OF the lax levied under the
license law and stamp bill, which can and we
fear will be passed BY The same Instrumental
ties that secured the passage of this bill; this
tax, amounting In the aggregate to twenty
nine mills, our people cannot pay. and cannot
be necessary for any legitimate purposes of an
honest government. Besides, II the stocks
and bonds heretofore Issued, the total amonntt
oil which is an unknown quantity, were Issued
In conformity to and by the authority of laws
already passed, then they are already legal,
and need no further law to validate them. If
they were not issued by authority Of law, then
they shonld not be made legal by the passage
of this bill.
IA demand for bill to declare the bonds
and stocks already Issued legal is q clear con-
fession that all of them are not legal, which
is further confirmed by the provisions of the
bill. which eXonerates the officers who issued
them from all legal responsibility for any vio-
latlon of law and good faith. OF which they
may have been guilty. Hence, we solemnly
protest, In the name of the people, against
the passage OF bill which we hold to be ur-
necessary, unjust and burdensome, and to the
people we will appeal directly"
Signed by ]. E. Hagood, John c. Sellers, l..
Williams, S. 8. Crttenden, G. W. Taylor, T.
r Bass. Joel Allen, F. A. Miles, o. III. Doyle,
J. n. Shanklin, John Wilson, NJ. D., J. L.
Woford, D. r. Duncan, r. N. Smith, j. E. Du-
senberry, B. G. Yocum. A. P. Holmes,