Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-05-15

BelyIderc Hall had asked him not 10 vote
for free silver because II would result dis-
astrously 20 the working-classes. VIM"
another gentleman had urged him 10
vote for II because IL would lower the
purchasing quality OF his wages. and 10
leave 10 her how he should cast his
ballot, and he Meredith) would be salts
field with the result. (Applause)
HE WOULD BE WITH THEM.
MY friends" said Mr.. Meredith. you
have been very much edited by the elo-
quent address OF Mr.. Bailey. but next
winter be will be drawing his fat salary.
and III! have 10 be here with you and
see your misery. He can eat his eggs,
and his chickens. ana his vegetables, while
your Locomotive Works and Tredegar
VIII be closed"
voice in the audience: '"The Trede-
gar Is closed now"
Mr.. Meredith said that this was due to
the very fact that people were holding
UP this free-sllver bugbear and frighten-
ing capital. Then turning his remarks
again to Mr. Bailey. Mr.. Meredith said:
You have Put yourself up here as
follower of Jefferson and Hamilton. II
you follow Jefferson, why don't you take
free coinage at the ration OF Is TO !?
Why did you vote for ratios Of II to l,
is to !. 10 to /, % to 1-anythng you
could get? II 16 ounces OF silver Is equal
TO one ounce of gold 20 ounces Of sill
Yer should buy more than one ounce Of
gold. Jefferson fixed the ratio OF silver
az Is 20 because that was the value
Of silver then. jefferson went according
to the intrinsic value Of silver"
The reason for the change from this,
Mr.. Meredith said. was that gold had
been driven out OF the country. There
was not man who had ever read any
thing about the history OF our financial
system but knew that the basis OF 16 to
1 was adopted in order TO have a stable
currency. The speaker said that from
1894 to 1860 we had enough money to carry
on our business.
WHAT DROVE GOLD OUT?
what drove gold out of the country?'
inquired Mr.. Bailey Of the speaker.
why, when we had used all that was
necessary for our uses, we shipped it
away just as we ship wheat away when
we have exhausted all that Is necessary
for our own uses" was Mr.. Merediths
reply, amid loud applause Mr.. Meredith
said we had tried silver twice and under
the most favorable circumstances
conceivable, and had failed 10 ac-
complish anything with it. and
asked If any argument had been
made TO show that it should be tried a
third time. He said any man who be-
lieved that he could 20 into Congress and
pass an act which would raise a 80 cent
dollar up TO a 100 cent valuation was
entitled TO have a commission Of lunacy
held over him. Q-aughterD The PROPOSE
ton Of the gentleman from Texas was
that we should take a metal that is worth
just one-thirtieth what another was and
try to hold It up to the value of the more
valuable metal.
Mr. Meredith went on 10 say that he had
heard that a great many people here were
under the impression that the free COIN
age OF silver meant that 16 silver dollars
should be coined TO / gold dollar. He
explained that free coinage meant that
the western mine-owners could take the
product Of their mines 90 the United
States minis, have il coined, 50 cents
worth. into a dollar. free OF charge, there
by robbing the people Of the United
States out OF 45 cents I'm every dollar
coined This was the plain case. These
silver dollars now were only worth s.
cents each: 1t was the credit Of the ma
ton back Of them which made
them pass for 100 cents. While
the western silver miners would
be benefited, the Virginia merchant.
mechanic and farmer would simply have
the purchasing power Of their money re-
duced one half Mr.. Meredith made a
strong appeal for the restoration OF STATE.
banks. and for an undivided Democracy
for a gold standard.
The meeting was a big success In every
way, and lasted from $50 o'clock until /
after midnight.