The times. [volume] (Richmond, Va.) 1890-1903, 1896-10-09
JOINT DISCUSSION Ar ASHLAND.
&. NJ. Wallace, Dr., for Free silver and
Nyndham II. Meredith for sound honey.

&. NJ. Wallace, Dr., for Free silver and
Nyndham u. Meredith for sound Money.
ASHLAND, VA. oct. S-Special.-
Probably no place IN Virginia is more
thoroughly aroused on the currency qucs-
lion than Ashland, nor is the work Of
the sOund-mOney men anywhere more
apparent They are at work here like
beavers. ana claim that their labors are
not in vain. The SOund-Monoy League
is aiding ia the enlightenment OF the
people by arranging a series OF Joint
debates ON the currency question. To-
night such a discussion took place between
Messrs. Wyndham r.. Meredith and c. NJ.
Wallace. Jr., Of Richmond.
Mr. j. 81. Leakc presided, and first IN
troduced mir. Wallace the advocate OF
free silver. Mr.. Wallace began his dis
cussion Of the subject by defining money.
lie then argued at length upon the quail
tive theory of money, declaring tnat the
prices Of everything were ehected ,ac-
cording to the expansion or contraction
of money. lie claimed that the prevailing
low prices Is the result OF the contraction
OF money. and that the restoration or
silver would cause the decided rise in
prices. -.
Comparing the present financial system
10 a pyramid risen on its apex, the SPEAK
er declared that the credit money Vl
this country Is resting on too sinal4 Il
foundation. and under the single staho-
ard the expansion Of money would nee
essarily be increased. Then the whole
structure would topple over, ana cause
wreck and ruin. Such financial struc-
ture. be claimed. is unsound, and there
fore the name of sound money given gold
was wrong, and silver, he declared, was
the only solid financial basis upon Whlch
10 build.
MR.. MEREDITH.
Mr.. Meredith was introduced as one
of the unterrihcd Democracy and was
greeted with prolonged applause. In
opening his speech he referred TO the
sadness 1t gave him 10 note the absence
OF Honest Dick Beirne. whose defence of
sound Democracy and sound money
were at this time so much needed.
Mr. Meredith then wadcd into the ar
guments Of his opponents with gloves Off.
lie said the principles Of sound money
were as Oll as the Democratic party and
that the Democracy of to-day ought 10
keep step with the training Of the faith
crs. jefferson. the father Of De-
mOcracy, whose ideas were very differ
ent from what The silverites wished TO
do coined gold and silver at their COM
mercial ratios.
lie ihen proved py history tnat upon the
slightest difference in the commercial
values of the two metals the dcarer i'm
mediatcly was withdrawn from circula-
tion and that in 1851. silver practically
demoneuzed itself as from that period 10
1873. none was coined. Said he. since 1873
more than four hundred millions had bee.
coined and before that period only eight
millions had been coined. How then.
asked the speaker, could there have been
any injustice done silver? IL the use Of
silver as money, general rise in prices
is caused, prices ought 10 be higher now
than at any period Of our history, as il
the last month more silver was coined in
60 money than during the whole time
prior 10 It's alleged demonetizatisn.
Hc claimed that improved machinery
had much 10 DO with low prices. and that
the financial question had nothing to do
with thcm.
I'm subsnnuation OF this claim, he
quoted MIR Bryan I'm speech before Con-
rrcss.
Mr. Mcredith's speech was a brilliant
cnort and was roundly applauded.