On Hand For Work

WASHINGTON, UOC. 3. - X lie SOCOIU1 session of the Fifty-third congress 1) "jan at noon today with the vioe president in tho chatr iu the senate and rijeaker Crisp wielding the gavol in the house. Kor some time before the session was called to order tho members of both houses were gathering in tho ehambers, collecting in knots and discusslng tho recent political cyclone, as a general thing, but in sonie i cases talking of coming legislation. Among the members of the dominant party in the house, over half of whom were defeated for re-election, there is a great deal of febling against tho administration for real or fancied grievances. It will be the purpose of tho Democratie leaders to curb as far as possible the display of resontment. Finanoes Will Give the Chance. If the president outlines a financia! seheme in his message, as anticipated, it will probably furnish the opponents of his banking and financial views theirdesii'ed opportunity. The senate will be largely governed as woü as the house, so far as liveliness is concerncd, by the financial recommendations, for tlicro are many senators who have no use for those view gencrally aocepted as held by tho administration. Without the flnances, how ever, there is plenty of business to keep both houses employed for some weeks, and this question may aot oome up until after the holidays some timo. In faot it is almost cortain uot to come up until that time, and it is doiibtfiil if mach business of any kind will l)o Uuuo before Christin as. üejiorr of Comptroller Hekels. The financia! quostiim as presentod by tho suppoaed views of the administration is largely a question of banks and paper currency, and that being the case the report of Comptroller Eokels is likely to present the ideas that prevail in administración eircles. The report is out and is largely devoted to the question. The comptroller says that the defects of the currency exist in the note-issuing powers of the natlonal banks and he holds tliat - "no section of the law shouldbe dlsturbod whicli cannot be materially iniproved upou and no amondment engrafted inless sueli iiincndmont will work out botter results than flow from t.he existing order of thülga. As for the present lawit must ba conceded it has been successful in eve'-v nuiterial feature, excepting iu the matter of bank note issues, and here the fuiluro bas been bui a partiMono. The notes issuod by the banks lindel' governmont supervision have boen uniform in appearance, 1111 1 imd'T any and all circumstanees (,f &tí fuU f vuio value which thoy purport to carrj'. 1' l:tsticity the One Thing W'aiitjn. "They havo tssosscd tlie lirsc requisita of m giiml bank note issue - mmediate convertiiiiiiry lntoeuiu presen tthn. It Is prolable thac there could be ño botter plan for sunply insuring tlie note holder against loss than the present requiremenfi of ii deposit of bands to secure a bank 's circulation; but it is equally certain that a tnethod could be devised not leas safe In tliis veñjiect and in oddition thereto possoselng that whioh is essenti'al and is now wholly wanting - elasticity oí issue. The coraplaint, therefpre. made against tho proseut system is that lacking in elasticicy of igpue it faüs to meet as f ully lus it ought the varying wants of tho country's tnv.'.e aud commerco.