The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-01
SOUTH CAROLINA.

Important Resolution in the Legisl ature- The
General Assembly Hereafter Forbidden to
Increase the Debt al the Stale kept for
Meeting listing Observation-Disclosures Be-
tween the Governor and the Legislature.
COLUMBIA, s. u, Fen. 20, 1871
An important JOINT resolution was introduced In
both houses to-day proposing an amendment to the
constitution TO be submitted to the voters OF tho
State for ratification at the next general election.
The following Is the amendment:-
To the end that the public debt may not hereafter
be increased without uue consideration and free
consent OF the people OF the state, the General Az
sembly Is hereby forbidden to create any further
DEBT or obligation, eltner by the loan OF the credit
OF the State, by guarantee, endorsement or other.
wise, except for the purpose OF meeting Its
obligations, or IN and Tor the ordinary and current
business OF the State, without first submitting the
creation OF any sucn new debt guarantee, endorse
ment or loan OF It's credit to the people of the State
at general State election, ana unless twO-thlrds Of
the qualified voters OF the State vote on the Ques-
uOn, who snail be In favor OF further debt, guar
anlee, endorsement or loan OF Its credit. no such
debt or obligation snail be created or made"
The measure will probably be adopted without
serious opposition.
bill has passed both houses repeating the act
creating what Is known as the sterling funded debt
OF South Carolina
Legislative troubles seem TO thicken day BY day
The bill In aid of the Blue Ridge Railroad, having
passed both houses, Is now waiting the Governors
signature. The belief Is that he Will veto IT, and all
day the members OF both houses have gathered In
the Hobbies, discussing the probabilities, and
threats OF the impeachment OF Governor
Scott are both loud and Deep As the bill
passed both houses OF the General Assembly
by over q three.fOurths vote there Is but little
question OF It's easy passage over the Governors
vetO The License bill was laid on the table last
night In the House OF Representatives. The passage
OF this bill would have brought III considerable
revenue, but it was Objectionable tc the merchants
throughout the State. A committee from the Cham
Der OF Commerce OF Charleston waited on the ways
and Means Committee strongly Directing to its
be reported by the committee ut about six mills on
the dollar for State purposes.
The committee have entirely ignored any permis-
sion for meeting the interest on the state debt as
the six millions TO be reported Will hardly collect
revenue sufficient to deirav the running State .ex-
penses. The Tax Levy AS originally introduced was
seventeen mills on the dollar. The validating bill
seems TO hang nre and IRON appearances there can
be but little hope OF It's passage II proposes to
validate the issue OF oil bonds, and the charge Of
Over-Issue Of about SIX millions having
never been satisfactorily denied. many
imagine with great deal OF truth
that the passage OF the bill Is to cover the same
illegal issues. The Legislature have agreed to ad.
J0urn on the 7th Of March, and, although the ses-
sion has lasted over three months, little has been
accomplished towards relieving the State from Its
financial embarrassment, and only SUCH measures
have been enacted as tend to increase 1t. Governor
Scott has done all In his power TO settle these Ques-
tons OF finance, but with little avail.