Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1878-04-24
Chicago Journal.
Rusiness Interests and Congress


The business public look forward to
the prospective adjournment of Con-
gress with satisfaction. Ifthe adjourn
ment were to occur with the close of
the present week, the people would
be glad of it. OF course there remains
some legislation for the Government,
as mechanism which must he per-
fected. The appropriation bills must
be passed, or the machine would come
to standstillafterJ July /. There are,
also, two bills relating to the interests
of the people, which are regarded
with interest, namely, the Senate SUBJ
stitute for the bill to repeal the Re-
sumption act, and the bill for the re-
peal of the Bankrupt act. The for
mer ought to pass just as it stands.
The latter ought to be modified some
what and then passed.
This prejudice against Congress is
natural, for SO long as that body is in
session uncertainty holds tho h,'sianss
too1nnIunity back from legitimate en-
terprise. This has been the case for
years, ever since in fact the hard times
set in. But there is really no more to
fear from that source. That body is
no longer peril. The drift ofevents
has taken the country beyond that
now. We know for an absolute GER
tainty that there will be no step back
wark. The journey toward "honest
money" is now too near it's conclusion
to admit of any reasonable apprehen-
sion. Several of our banks have re-
sumed alredy, and almost all of them
are in a position to do so, in case
there were any public or corporate
advantage to be gained. They would
surely come to the front with their
coin reserves if that were needed to
prevent any retrogression. Speaking
of the attitude of the banks, the New
York Times of Tuesday says:
The fashion of the hour is an inter-
change of congratulations based upon
our apparent nearness to specie pay
ment. So small a fraction divides
gold and greenbacks that there is
disposition to disregard the difference
and anticipate the period of resump-
ton. The exceptional cases in which
this was done yesterday at Chicago
and Cincinnati are noticeable mainly
as proofs that in those centers of the
reconciliation craze some faith in
honest money yet remains. The dis
cussion of the subject in other places,
and the vague inclination to end doubt
by taking at once the decisive step,
have wider significance. They would
be satisfactory if they had indicated
nothing but the cordial cooperation
of the banks with the Treasury in
perfecting the preliminaries which
equally concern both. But in truth,
the circumstances suggest much more.
Their occurrence would be impossible,
despite Mr.. Sherman's bargain with
the syndicate, if the feeling were not
abroad that the various adverse influ-
ences which in the aggregate have
made hard times are to large extent
exhausted The corner believed to
have been turned, and though finan-
ciers still lack confidence, and bust
ness men, warned by experience, are
not entirely without misgivings, faith
and hope among both classes are WISH
bly, on theincrease. Things are sound
er than before. The condition of
trade is better. The odds in the mar
kets Of the world are on ourside. The
crop prospects are good. The process
of material development goes on.
And though none of these indications
is of itself sufficient to Tighten the flu
ture, they are, taken all together, rea-
sonable ground for the improved spir-
it that is manifest. The country feels
that it is gettiug better, and its con-
sci0usness of the fact marks real adj
vance toward a cure.