Word: coughlinism
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...Union in 1860. William Jennings Bryan chose the rostrum of old Madison Square Garden to launch his first Presidential campaign in 1896. Such job-seekers as Herbert Hoover, Alfred E. Smith and Franklin D. Roosevelt have counted New York the climax of their speaking tours. Similarly Rev. Charles E. Coughlin of Royal Oak, Mich., after opening the membership drive for his National Union for Social Justice before an apathetic audience in Detroit, followed by a triumph in Cleveland, last week put himself to the critical test in Manhattan...
...Father Coughlin's economics, the U. S. has plenty of everything except money, and since only $5,250,000,000 worth of currency is in daily circulation, he reasons that an additional two billion worth of greenbacks would be amply covered by the nine billion gold & silver reserve in the Treasury. To hear Father Coughlin expound this theory, 18,000 New Yorkers packed into Madison Square Garden's Auditorium. Just before the meeting the box office dropped the price of $2 seats to 50?, thus ruining speculators who had loaded up. Nevertheless, an overflow crowd...
...audience may not have understood the nature of Father Coughlin's National Union for Social Justice. But it did feel the emotional appeal of the sweating orator on the platform. At will the plump priest changed boos for the "prostituted press" to resounding cheers for assembled newshawks. In a phrase he switched catcalls at Senator Wagner's vote against the Bonus to huzzahs for Senator Wagner, "the friend of Labor...
...Father Coughlin got some of his biggest applause when he shouted out against President Roosevelt's new relief wage scale: "Think of it-a meagre $50 a month for administrative work! . . . There is an American standard of living. My friends, if we are forced to see $19 or even $50 paid for such work in what we call a New Deal, then this plutocratic, capitalistic system must be constitutionally voted out of existence...
...Father Coughlin and the financial Left have demanded it. Franklin Roosevelt and his New Dealers had hitherto smilingly shaken their heads and denied that they intended going so far. But steadily the New Deal has marched in that direction: centralized some Federal Reserve powers under the Emergency Banking Act; put at the head of the Reserve System a banker specially selected because of his approval of New Deal monetary theories; by a straight party vote got the House to pass a bill centralizing full control of the Reserve System in the Administration's hands...