The times. [volume] (Richmond, Va.) 1890-1903, 1896-05-15
GOLD OR FREE SILVER.
MISSES. ROrdLL AND MERfDTTH
AND CONGRESSMAN BAILEY
Discuss the Matter Gold Men Pre-
sent Facts, While the silvcri'
Deals la Gcucraiities.

The Joint discussion OF the currency
question last night before thc Clay Ward
Active at RclViderc Hall, participated in
ly Mcssrs William J.. Royal and q. y.
Meredith in behalf OF gold basis ana
Congressman Joseph W. Bailey for the
Mhlle metal was an occasion OF general
interest. and drew a large crowd. work
n.mcn. merchants. bankers, and every
Zinc of business bcinp well represented.
Mr. Royairs pcecl was carefully pre-
par,d. concise. and fairly frlstled with
l.cf.. A capable Of suhstanuaion by rel
eroncc u the history and official records
OF thc country
The frce-slNcr advocate, Congressman
Bailey. a most pleasing speaker WIN
flowing locks. elongated coat-ialls' ana
Nyild-West hat but an af,onisninsiy
small fund of facts. replied TO Mr. Royal
and his address caught the fancy OF tie
majority of the audience. who cheered
him wildly.
Nir. G.. v. Meredith. who spoke last
although badly handicapped 10y the lale-
moss of the hour and the waning att,n-
lion OF the audience. literally tore the
argument of Mr.. Bailey TO shrcds ana
yrung unwilling applause from ardent
advocates of free silver.
The meeting was called TO order at $50
o'clock by Mr. Evan Snead, president OF
n
ee1tef Governor o'Fcrrau, Mayor K. NJ.
,r.vlor Hon. W. T. Rcddy. Hon. Addison
,'unIu Mr. Everett Waddey, Captain
samuel Rcgcstcr. Hon. J. Aiston Caheh
Hon conway r. Sands. and a number OF
others.
MIR. EOYALLS SPEECH.
THE debate was opened 10y Mir. W. i.
Eoyau in a ringing argument IN iaNoi
of honest money, who cuntehIeu lh"t i-
WAS ol che most vital importance that the
country should cleaNe To- gold basis.
Hr Royau was loudly applauded at va
rIons point. n his speech. and when he
declared that "State banks must Doe re-
stored 10 the country DC was accorded
perfect ovation. c..
Tbe air OF the hall W. stitling. SO hot
WAS Ill that Nr. Royal, aitcr spe""ihs
f,r. several mui tes declared tnat he Vas
almost overcome by heat and feared me
would be unable 10 proceed. Shou'o
ll. to- take off my coat. DE sald.
Th.ra we're cricsi Of certainty. Oei'"ll-
f,.rr and the speaker shed that uselu
Garment amid "a perfect storm oil chee'S
,I l.nrhter. After expressing ms ac-
1,.,ci,lument of the kindness OF the au-
lt.,.. Air Roval proceeded win DIS
sn.e.h. ne spoke, in part as lolIoMs.
,. ,to,,u nrst entered into cil'lO"l
.,aniratton Of the science oI "i'"'
.rd and what constituted money az"
,.nat function money plays I'D D"9'ii.s, ~.
mas conclusion WIS uhit hiui'e'' IN. I'M,
..,..r,thfup else. depended for us F"luc
~ ,t. ,oior REQUIRED to produce H.
, ,r.t os d. only took halt as much
,.,.,, ., dig a silver dollar out OF tho
..r.,rt as n took TO dig a gOid ooiiai
nrt th, silver dollar could not be WoI'l
moro than haif AS much as lHc e0'"
dollar. ,..,, a SILVER
dollar Was worth JJ cents and so'" No'-
lar lVJ cents .,
air. Royal next argued that the pIe'@-
lent idea that business was sales OIL com
,noaltio- Tor money was utterly euoh-
eor-. Business was exchange ol c"i'i"o-
olfIrs effected by exchanging the baIiN
credits given upon the commodities as
security. lie argued. therefore That me
irrportaut thing was not as the Iit'-
eoincrs contonded. that there should ne
great quantity of money, but thaI l"ei:
should ne perfectly Tree ana untram-
melted opportunity for every man 10 s,I
credit on what he had, and TO assign
and transfer that credit to anybody VINO
would take Do. ln TINS CohheDlo" "o
.4iI ,,h,. Nc wa%tcj was money that
never ,,.Iiei. and state banks Ihat ,o.''i'-
cd 1000 IL people whose notes sho'iu oe
.te.a.. rcaeemable ON demand IN the
money tn1t never varies.
In,n MON miLnt raise and assign tner
credits as lney pleased and these cfed's
., l. tr. r,.l money of the people.
... .......rt.nt tbfns. he said. was to have
80. ,...,.,,.i,.- standard of value and nher-
,..,.-,or. 90 promise to deliver that
...re.rf of value ass hc chooses He
n,Ni argued free coinage would make
.u..r t,0.omoutalism. though Gresham
mv (Which meant thc cncap money
....i.t .l,,,.. ir.., ont the dear because
.,,.... ,...,It .lv.ate nav in the cheap
,srr.r man tne dear money. II Il man,
.... ~, .-ll ,,.bat on. ounce makes.
e. . ...r.. of rod ho win. under
,-.. ...a... .,,.p 81 for thirty-two
ounce. or .nfor ana coin sixteen of those
orr.. futo ku.t.e-lD. pav his debt. and
have sixteen ounces over for proht.
TIE FACTS.
Ia. fn.n showed l.w we started at lo
tn1 vI..n urIsrratci gold by : l-S cents
d.. r,. t.I.r ANA drove if out OF clrcula-
+,., ....f .r l,.t-s- v. reduced the gold
tn IN. .od dollar To- make Do To ]. and
-r.r .lf.rraf.l oliver. which am left
me- c.untre Ihis remained unu 1873.
,,D0u ve provided There should Doe no
49,. ..l...r ..u.rs p,t yre never had
,.ir.l luf s,uIIuJ of tn,m. which had
Ii.ft fna. rountrr. Ne coined S5ZWuUuU
.ffsi,..s and quarters up TO 1903. but. as
tn.y .,.r. fuu narts of "a dollar all Ql
th.n lpft tho country between 1897 and
1913. ln 1855 we reduced me SILVER in
s1heIIi4rr coinage. SO that Two halves
or t.ur amrters we're worth less than
Gold dollar aud our small silver staiG mere