The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1896-04-03
Silver and Geld.

AUGUSTA Ga, March 3I.-At II: 80
p. m. the three hours debate between
Secretary Hoke Smith and ex-Speaker
Crisp on the financial question had been
completed and the champions of each
were claiming the better of the argu-
ment for the man of their choice. Both
were applauded to the echo when the
sentiment enunciated met with endorse
ment, and it was noticeable that the
same men applauded either speaker.
There mas no such division of senti-
ment as forbade champions Of Mr.. Crisp
to applaud Democratic sentiment ut
tered by Mr.. Smith, and no advocacy
of the gold standard precluded ap-
plause for popular sentiments declared
by Mr.. Crisp. 1t was a Democratic
audience, and both speakers we're re-
cognized as honored Georgians and
distinguished Democrats, discussing
party policy in the house oftheir friends
1t is worthy of note that the greatest
applause of the evening followed
commendatory reference to President
Cleveland by Secretary Smith. Though
Democrats may not approve all of Mr..
Cleveland's acts, there is no other
name that can so electrify Demo.
cratic audience from one end of the
country to the other as that of Grover
Cleveland.
The scene which greeted Secretary
Smith and ex-Speaker Crisp when the
curtain rose in the Grand Opera Honse
tonight was one calculated to inspire
them to their best efforts.
AS arranged, there was seating room
for 2.1oo people. There had been no
invitation issued to the ladies, as it
was desired to have all the available
space for voters. There was no en-
barge upon their coming, however,
and the boxes on both sides were filled
by them while many occupied seats in
different parts of the house.
Exactly at go o'clock Chairman
Doughty, of the Richmond. county
Democratic Executive Committee stat
ed the terms of the debate. Mr.. Crisp
tosopen the discussion in one hour and
ten minutes, Mr.. Smith to follow in
one hour and thirty minutes, and Mr..
Crisp to conclude in twenty minutes.
AS Mr.. Crisp arose, he was greeted
by storm of applause lasting many
seconds. He began by saying this is
somewhat unusual spectacle for Geor-
gia. But unusual conditions exist and
we hope that these conditions will
justify the spectacle that is presented.
Mr.. Smith and myself are both Demo-
Gratis and both expect to stand loyalty
by the Democratic national platform.
[Applause. But now, in advance Of
our National Convention, Democratic
policies are being discussed among
ourselves, and Mr.. Smith and 1 differ
upon one important question that is
before the country. We differ on the
subject of money. 1t is our purpose to
deal frankly with you in this discussion
and help you to proper conclusion.
To begin with you must know money
is medium Of exchange and measure
of deferred payments. Price is deter
mined, other things being equal, by
the amount Of primary money in the
world.
Value is determined by the law of !
supply and demand. This is general
law and applies to money as well as
commodities. If the amount of cotton
in the world at the current price was
just enough to balance all the money
in the world and you should increase
the supply of cotton you would di-
minish the price, and if you decrease
the supply you would increase the
price. Likewise, if you increased
the volume of money you would in
crease prices, and if you contracted
the amount of money you would lower
prices by increasing the value ofmoney.
This is called the quantitative theory
of money. Now, prior to 1873, gold
and silver were used as the two money!
metals at a ratio fixed b.: tAu
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