The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-13
IN EVENTFUL DAP.
for Passing the Ftnan-
cial Bills-Tho License BtH-more
Amendments.
rraox OUR OWN CORRESPONDENCE

- fFROE OUR OWN CORRESPONDENT
COLOMBO, March IL.
This day has been, beyond doubt, the most
critical and most eventful period In the histo-
ry, thus far, of the present Legislature. It
has been season OF alternate hopes and
fears with the State officers, because it has
been the crisis Of the fate of that cap-stone of
their financial schemes-the validating bill" !"
which having been passed trtumphantly by
the Eouse had been received by the Senate
with strategem that threatened to defeat the
measure without even chance Of its con-
sIderatlon. 1t will be remembered that the
validating bill, as soon as 1t had passed the
House and gone to the Senate, was made the
special order for Wednesday next, and In view
of the TACT that the Assembly Is to adjourn on
"Wednesday, and that no bill can receive Its
final passage on the day of adjournment, this
action, unless revoked, was equivalent TO lib
defeat. Under another rule Of the Senate
motion to reconsider this action could not be
entertained after to-day, and thus 1t happened
that unless By the action Of the Senate Today
they should extricate the bill from Its former
position, the bill would be doomed.
Under all these circumstances, 1t may well be
believed that the time elapsing between the
adjournment of the Senate, on Saturday, and
It's reassembling, at noon to-day, has been
very industrionsly occupied by the friends OF
the bill in completing the arrangements for Its
rescue and success to-day. The amount Of
lobbying that has been done, and the threats,
caiolery and promises that have been en-
pluyed, have been enormous; but success has
at last crowned the efforts OF the T1ugieaders,
and the passage of the validating bill may
now be looked upon as settled. Of the other
oobonooo which form the urOuD of financial
legislation dictated by the State officials, Two
more came up to. o.night-the license law and
the settlement bill-and, of these, the first
went through triumphaDty, and the ether
was practically killed by the adoption of q
substitute which is about as different from the
original as could we'll be imagined.
The Senr'e at Its morning session did moth
ing of importance beyond what has been
already sent by telegraph. night session
was held, however, for the purpose OF clear
ing the decks for adjournment, and the three
first things considered was the general license
law. which came up for It's second reading.
A rur:uer of amendments were adopted, Of
which the following were the most important:
The fees on banking capital were reduced fifty
per cent. all through, and the fees 10 be ex-
acted from railroad companies we're Increased
twenty-five per cent; the uniform fee OF five
dollars for phosphate companies was retained,
and a similar fee was prescribed for agencies
In this State who ship phosphates to manufac.
turers outside ofthe STATE; the period for MAX
ing the returns, which was from January lsC
to March 1st, In each year, was altered to the
neriod between April 1st and June lst of each
year. and the county ireasurers were required
10 nav over the moneys collected under the
act monthly, ipstea,. Of yearly. with these
amendments the bill was passed to It's third
reading by a vote oil seventeen to eleven. -,
The next thing was the "Settlement Dill,