I have inherited an old MARANTZ audio system from the 70s-80s. It all there, i can learn/experiment with setting up the cable.

BUT, I no longer have the origional BIG speakers, I have some sony speakers which look like they accept the output from the mixing gear, an exposed wire type thingy.

But the speakers when I last tried setting it up didnt work to well, and eventually a smoke smell filled the room when I used it, Does this mean what I think it does and that the speakers are simply to weak to handle the output from the gear?

I wanna get it working to I can hook up the old turntable and here my Vynals again
Well, are you sure the Marantz audio system actually works? Those stereo's seem too last forever - but are still subject to a hifi death. It is quite old.

If it indeed does work, you should be able to simply plug 2 wires for each speaker/system. Make sure the red goes to plus and black to negative. What kind of connectors do your speakers' have? From what you described it sounds like a bannana plug. If so, you may have shorted the + and - wires causing the smoke/smell. That would be a bad thing.

So need to know the following:

What connectors does your speakers have?
What Ohms (resistance) are your speakers and system?
How many Watts is your audio system to each speaker?
How many Watts can your speakers handle?