Rensselaer Semi-Weekly Republican, Volume 40, Number 10, Rensselaer, Jasper County, 11 October 1907 — “Gen.” Coxey's New Crusade. [ARTICLE]

“Gen.” Coxey's New Crusade.

“Gen.” J. S. Coxey, who some yearsago led a sensational march on Washington, is now out with a new scheme, the main feature of which is the absorption and operation i)y the State of railroads and other utilities necessary to the peoDlo’s welfare. lls idea is to have these holdings taken over by the States, payment being made by the issue of longterm bonds, these latter being deposited with the federal government in return for an issue of currency to the face value of Ihe securities less 1 per cent for the expense of flotation. lie thinks that this loan could be repaid and the entire expenses of the State met by the revenues accruing from the operation of the public utilities, thus making a direct tax levy on private property unnecessary. lie would in a similar manner extend his idea to counties and municipalities. lie declares the idea of controlling the b»S corporations while their ownership rests with private interests absurd, and says that public ownership will be the veritable salvation of the country. Coxey is said to have amassed considerable property.. sinceJiis famous “march.”