The Washington times., 1894-05-13
COXEY AND HIS BILLS.
A Proper Understanding of Them Would
Be a Good Thing for the People.

A Proper Understanding of Them Would
Be a Good Thing for the People.
The following is the substance of a conver-
sation held u few evenings since in a friendly
social gathering:
Where was at the last meeting, do you
ask? 1 went to hear Coxey speak, to learn oil
his two bills. And I assure you that since
understand them like them very much.
"Do tell us about them?" responded lady
in the center of a large group.
"well. they provide for the issuing and
disposition Of all money by the general gov
ernment."
"What, do away with all banks?"
"Well, they say nothing about banks, but
you see, as provided by one Of the bills, the
government agrees to buy state and muni-
cipal misunderstanding bonds, really fur
nishing money on these bonds for twenty-five
years without interest, the principal being re-
turned to the government ut the rate Of per
cent. annually. You see at this rate it takes
just twenty-five years to pay the principal,
and, thanks to Mr.. Coxey and the people back
OF him, there will be no interest to pay. Al
though nothing is said about banks, YOU
readily see why no banks or private capital
lists would take these bonds. So interest
taking would be reduced to a kind OF pawn
shop business. and confined to those not pos
sessed of real security. This practical sus-
pension OF interest paying will be OF i'm
mense benefit to 80 per cent. OF the people
of our whole country. 1t practically takes
US out of the tyrannous hands of the capital
lists, who are really debating almost our every
important law and interest. Under these
bills the people become law unto them
oolr hov of Ito
tators, the capitalists "
"Tell us, please how 1t will work to the
benefit OF the people"
"Well. for instance. you live In some city
where you have to pay S1.50 or s2 per 1000
feet for gas. Your city government deeming
the price extortionate. proceeds to issue $780,
900 MISUNDERSTANDING bonds, turn them
over to the general government, and receive
$685. 900 cash in hand for twenty-five years on
the terms already stated. With this they
erect a gas plant. and. having no interest to
pay and no profits to pay to any one, they are
able to provide gas at say IS cents per thou
sand, instead o. S1.50."
"Well. that would be very nice. am sure we
could not object to that"
mo, presume not. No one will object to
this except those who are living off the inter-
est of their money, and they surely will OBJ
ject.''
II would like 10 inquire Just how this would
help the average working MANI?
.'Wel. I will tell you. One of Coxey's bills
is a direct provision tor the unemployed 1t
provides for the issuing of $50, 900, 900 each
month, to be proportioned to the various
states and territories, to be expended in re-
claiming lands or improving roads. or such
other improvements as the respective states
may deem desirable. paying for eight hours
labor not less than S15O per day.
"But both of these bills alike reach the
fbrnu IN .hta ;a;n
and nation. The average people to man
will say: Let our city government issue its
bonds, receive this money without interest,
buy or build gas plant and electric light
plant. street railroads. etc, and let our fares
On the street cars be cents, instead of or
5, and everything else at the same ratio and
the people of a state will say in like manner,
Let US build or buy the railroads and reap
like benefits.
"And the citizens OF a nation will saw Let
US reclaim the millions on millions OF acres OF
arid lands OF the western half of the United
States before they fall under the bane Of cap
ital, whereby the millions yet unborne would
be required to pay tribute to capital forever
"Now this great expenditure OF capital
upon public improvements. whereby the vast
army of the unemployed may find work, will
also teach the professional tramp that If he
will not work he shall not eat. And the in
crease to our money now in circulation to the
extent OF twenty or thirty millions monthly,
whereby the purchasing power of money is
lessened and prices of al that money buys
advanced, will have wonderfully stimulat-
ing effect upon business of every kind. With
all at work, all will become consumers. Mer-
chants will be busy, and their orders will go
to the wholesale houses and to the manufac-
turers, and all wheels OF industry will roll
You see, this would be practical way of
saying good-by to our panic and hard times
'.These, my friends. believe to be the final
outcome of these bills When the millions of
people catch glimpse of the mighty power
for good in these bills, and OF their own op-
portunity in these bills to provide themselves
with work. and In the same act break the |
shackles of the money power that would |
thrust our civilization back to barbarism- |
when they thus see the real greatness of this |
move they will rise: yes. the millions from
ocean to ocean will rise and demand of their |
this righteous legislation
'.But what about the few gaining possess |
sion of everything again in a few years2 And |
what about making money out OF paper hay- |
ing no intrinsic value?"
80, yes, these are the old questions. and, Of |
course, have to be answered, but you can |
hardly expect me to do SO now. Yet I will |
,ay relating to the former, that the few will re-
gain possession just as soon and as fast as the |
masses Of the people will allow them. Yet If |
he people wake up to wise legislation and |
egislate in behalf Of the people it will be
lever.
.sRelating to the latter # may be observed
hat every dollar that goes abroad goes as