St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-07-07
GEN. COXEY ON MONEY!
RE TALKS ON HAYMkRKET SQUARE TO
5000 PEOPLE.
FULL LEGAL TENDER MONEY.

That Is What He Wants and Pro-
poses to Have - Non-Interest
Bond Bill-A Wausau Hotel
keeper. in Search of His Son,
Finds He Has Married His
Dining Room Girl.
CoXey was in his glory again last
night. He spoke to fully 5000 people
on Haymarket square. He began to
speak at about 1880 and continued until
after $3.50. For two mortal hours he
drummed into that audience the neceS-
sity OF having a change in the monetary
system Of the country. His subject
was the same as the one he elaborated
on July 4; in fact, he can talk Of moth
ing else than money, money" He
told his auditors last night how the hard
times were brought about and what
they must do to remedy them. The
two bills he had In congress, he said,
would settle the whole trouble.
These bills are the one declaring for
the issuance of full legal tender money,
and the other the non-interest bond
bill. These two bills if passed. he said.
will give employment to the unem-
ployed, and money will be created upon
the value OF the public improvements,
the full legal tender money TO be good
for all debts and practical purposes. If
the government could stop the rebel
lion by issuing full legal tender money.
there was no reason the present state of
affairs cannot be bettered.
The general spoke at great length
on the benefit the issuing of the full
legal tender money would bring about
to the country at large, and explained
the purposes of the bills he referred to
so that all those who listened to him
understood them. He referred incl
IDENTIFY to the great strike now in prog
reSS. stating that it was but surface
indication Of the existing condition of
things. The strikers might win their
fight, but the real evil, the root of it all
in fact, lay in Washington, and it is
there the assault must be made.
Then, in speaking of the railroads in
general, he roasted the system OF bonds
and stocks which allowed for SO much
water" The men who built the rail-
roads had nothing when they COM
menced to lay plans for the cOnStruc-
ton of their roads. When. however,
the roads were built they had not only
the railroads, but the bonds, stocks and
money, while the public got the
water"
In speaking further on the subject of
full legal tender, he stated that there
is no subject so little understood as that
which involves money and banking,
with the exception perhaps of the sys-
TEN of land tenure. The power to Issue
money by the banks was pernicious
one. he said, and should be taken from
them. Then he went on to relate how,
according to the terms of the national
banking act of 1868, government bonds
were made basis for national bank
currency. They were bought with
greenbacks corrupted by the ''eXcep-
ton" clause at 35 cents on the dollar.
They called for, semi-annually in ad-
vance, 100 cents Oh the dollar in gold
and accrUing interest. likewise in gold.
Besides this, they got back 80 cents on
every dollar for their own use. But
these bills, CoXey said, are not legal
tender, and cannot be used for the pay
ment of import duties. The govern
ment, however, will take them tor in
ternal revenue duties. This system is
the one Coxey and his commonwealers
want abolished.