Evening star., 1933-11-28
RIVAL MEETINGS
CLASH ON MONEY
Father CoughIin Defends
Ro0SeveIt-CruSaderS De-
mand "Sound" Policy.
BY the Associated Press.

BY the Associated Press.
NEW YORK, November 28.-Two
schools OF monetary thought played
oratorical tug-o'-war with the American
dollar at rival mass meetings last night.
On one side was Rev. Charles E.
Coughlin, radio priest" of Royal Oak,
Mich, defending at the Hippodrome the
Roosevelt money policies. On the other
were the Crusaders, urging sound"
money and decrying imitation.
Coincident with the two meetings a
manifesto signed by 81 Columbia Uni
versity professors was made public. 1t
urged an expeditions" return to the
gold standard by the United States.
Still another element was added to
the difference of opinion concerning
the administrations money policies by
which James p Warburg, banker. sug..
gested a "modernized" international
gold standard.
Attacks Wall Street.
The mass meeting at the Hippodrome
attracted a crowd which police estl-
mated at 10000, only $500 of whom
were able to obtain entry. A force OF
176 policemen had difficulty In keeping
trafhc lanes open, and several persons
Father COughlin, pointing his orat0Fy
at Wall Street, the "Tory press" Alfred
E. smith. J. P, Morgan and and all sEsd critics
Of ths sis addqesn
temporaneous) to the sound money
meeting at Carnegie Hall, saying:
there and 500 Of them are my friends.
That meeting was intended 10 rum
ROOSEVELT and build up Oggie Mills
ogden Mills. former Secretary OF the
treasury for President in 1886
During the course of Father Cough
Inns address the name OF Al Smltn,
long the political princeling OF Ne"
York City voters, was booed.
Smiths the Crackpot."
The Hippodrome audience, which
oyerflowed onto the stage and into the
aisles, frequently interrupted the Mich
igan priest with questions and with
answers to the questions Father Cough
lin himself propounded. Once when ne
said President Roosevelt's enemies hao
damned him tts q crackpot," voice
from the crowa cried:
Smiths the orackpot. >,
The priest scored the TORY press,
and when a voice from the audience
!, asked who are they?" Father Coughnn
answered:
you can tell them by reading the
papers that support the Wall Street
gang; those that are trying TO rum
Roosevelt and build up Ogden Mills 1ol
President in 1886"
When he was asked how to overcome
the Tory press" he replied:
If you buy them, by not patronlzlng
their advertisers
He denied that he was indorsing in
flation.
I'VE are against it." he said. THAT
is a trick word. We are in reality the
Sound money men. 1t is they who
are the nflationists-debt inflationlsts
, who burned the country with stocks
| and bonds"
Meeting Adopts Resolution.
The meeting adopted a resolution. Of
fered by Father Coughlin, urging the
President to restore the 1926 price level
Henry Morgenthau, father OF the
Acting Secretary of the Treasury, pre-
sided at the meeting.
At the Carnegie Hall meeting tine
speakers denouncing imitation included
Matthew Woll, vice president of the
American Federation of Labor; Martin
| w. Littleton, New York attorney; FREQ
G. Clark, commander in chief OF the
Crusaders, and DR.. Walter Spahr, New
York University economist.
In contrast to the Hippodrome meet
ing, where the crowd appeared to be OF
| a single mind in its support OF the
| opinions expressed from the platform
there was booing and kissing at the
sound money meeting. Police were
| sent down the aisle to silence one mar
who told them he hissed because I die
not like what Matthew Woll was saying.
Woll said that "of all the contrivances
| for cheating the laboring classes oi
mankind, none has been more effective
than that which Geluded them with
| paper money"
The letter of Warburg to Senator
Borah, made public last night, said thai
! a "modernized" international golc
standard would provide that gold coir
be withdrawn from circulation, thai
holdings of monetary gold be confined
| to central banks or banks of issue, that
note issues be redeemable in gold bull
lion for export only, and that gOlC
miners be compelled to offer their out
put to their respective monetary au-
thorities and be allowed to sell to othel
persons only If they are licensed to buy
| AS an immediate measure Warburg
! who until recently had been regarded a:
a financial adviser to the President
suggested that present monetary Tex
| periments' be abandoned.