Year: 1874

Congress will adjourn OF II o'clock To-.
day, and thus OF last we shall zee an end
Of the first session oI the Forty.Third
Congress, 1Imet on the first Monday In
December and has been in session six
months and q hall. Five months Of the
session were spent in talk. The real work
has been done In the past slx weeks. Had
the members worked during the winter
as they have worked since the passage of
the resolution to adjourn to-day, they
might have gone home early In the spring
and relieved The country. Of much painful
doubt and anxiety. But thus 1t has al
ways been, and no doubt always will be-.
Endless talk first and work afterwards
"antimmense deal Of sack to half penny
worth Of bresd"-is the established order
at Washington.


But let us be thankful that the end has
come at last. We owe q debt Of graft
tude to the hot weather and coming elec-
tlons. Especially to the latter do we owe
the final passage Of q currency bill that
the President could sign: To go before
the country with nothing to show for q
session of six months and o half but
dreary and interminable speeches on the
currency question, filed the breasts Of
Oongressmen with lorebodings as to what
ought to be the verdict Of the people.
Hence they made haste at the eleventh
hour to agree upon bill that tho Presi-
dent willingly or unwillingly, consented
to sign. This bill we publish in Iull this
morning; A careful reading ol 1t will
show that 1t postpones indefinitely the
question Of resumption, and thus puts TO
one side bugaboo that since the Presl-
dents veto has brooded like nightmare
on the minds OF the debtor class Of the
country. While 1t is not On imitation
bill, in the sense that the bill which the
President vetoed in April was an initiation
bill, yet 1t actually expands the currency
many millions Of dollars, in that 1t re-
leases the National bank reserves on cir.
culation, except five per cent, and thus
enables them to put into circulation money
heretofore held in their own vaults or in
those Of their redemption agencies. 1t
also prevents the Secretary Of the Treas
ury from playing fast and loose with the
30 called reserve" and enacts that the
S2eO0O0O0 now out shall stay out, aud
that hereafter the total greenback circula.
ton shall stand, as it now Is, 1885,, 900, 900.


AS to the effect Of the passage and sign.
Ing Of this bill on the country at large, 1t
Is yet Zoo early, Of course, to form
an opinion. Its immediate effect in
Wall street Yesterday was to pro-
duce decidedly buoyant feeling.
There was a marked advance in nearly
all classes Of securities. We presume
that more or less OF this feeling Of relief
and reaction pervaded business circles
generally. Indeed It Is difficult TO see
why therC should not be a reliable
improvement from this time on. 1t Is
certain that the present Congress, which
holds over next session, will do nothing
in regard to resumtpg specie payments In
the near future, and as all the paper
money that was in existence a year ago.
aud more too, Is now saoat, there Is no ex.
cuse as regards the wherewithsl 10 do
business with. There never was more
abundant supply Of money IN the country
than exists at this time. The probability
Is that 1t will soon mako lie
appearance in the channels Of trade with
an increased flow, and that as fast as there
u q tair chance to employ 1t the opportun.
ity will be improved. Finding that green
backs are not goingto to suddenly turn to
specie in their hands, those who have
been holding them In anticipation Of such
an event will naturally become anxious
to put them to earning profits in some
other direction. This feeling alone will
stimulate a revival in business, Upon
the whole then the adjournment Of Con.
gress and the final passage Of the bill pub.
llshed this morning may be looked upon
as likely TO lead 10 a better feeling from
this time on.


sIT IA ,probablv a mild wav Of stating I,