The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-01
Mr.. Wyndham R. Meredith Addresses
Sound Money Club, No. 2.
EXPLODESTHE PREE-SlLYER PALLACY
And supports His Arguments with Facts
and Figures That speak for Them
selvos-Spoeci, by Mr. \. l.. Dodge
Advocating an Honest Currency

IIrIIf. AI.NIf was N"I''| t't'nttr
standing about the opening Of the h""'
and consequently the audience was NOT 50
large as It would have otherwise neen'
There was. however. O. goodiy representa-
non of the workinsmcn, and the meet
ine proved 20 Dee a highly Interesting oi'''
ghere were some thlr.y-hyc on iofty
members OF the club present
Air CHARLES j.. Johnson. president oi inc
c,ub. occupied the cnalr, ana Ie"u ''o
f,liownC before the club.
-,tcrti.m.n.- thank you for tne ho"oi
h,.t,,,cd upon me in elcctins me as y""l
nresldent OF Souud-M0ney CiuD NO. 90
,.nuot fully express my sentiments Oh
gratitude iu these few feeble r-naiAa'
int 1 VIII ondoayOr 90 preside over our
rne.flucs with fairness and Importantly
and do an / possibly can 20 fulnll the
duties OF the office
% do moss heartily ask your
aesIetaucc and cooperation. as 1 can 90
rofllug without this. / have no dount
fhat if We work together we viii make
a coed showing. as We have justice and
rl-ht 20 defend our cause. i also hope
that 1 may see each and every member
of this club hoist as their standard BAN
rcr 'sound-money' and use their m
fuence 20 theb est OF their ability 10
convert others 10 follow this banner
tIu closing my remarks. 1 wish 10 say
vou can always conisdor me your friend
I'm the cause Of sound money and The
Ibcrtics OF tho worltifNs-class OF tlis
country"
Mr.. MTREDITWS SPEECH.
IL then introduced 90 the club Mr.
Wyndham r. Meredith, who delivered an
nhlc and interesting address on the cur
rcncy question. AIR. Meredith said the
question al issue was whether OF not our
monetary system would remain on high
and honorable plane with tiat OF the
other most civilized nations or whether
We ere 10 allow II TO sink 20 the level
~ that OF China and other sami-civilized
nations Mr.. Meredith challenged any
one to deay that the question was some
thing more than ono OF policy or politics.
II was one that played the most inn
portaut part now before the people No
man could show him how dollar couldn {
lc gotten ont ~ nffv-threa cents worth
~ eflvcr. The free coinage or silver
would mean ruination and destruction 10
The interests OF the working men fv
tho wOrkinrmon DO did not mean the men
that worked with their hands. but every
1n1n who worked f0r n salary. whether
fh0t e0llrv Doc paid bv the day. week.
INNIINNNf 'i Nf'Ats '"t.'t'faN '
meant the reduction OF the purchasing
pioneer of the working mans salary.
Tho speaker slid ne was Interested IN
sustaining the highest standard Of living
among the workinemen possible. Tie had
lived in this community for nearly forty
wears and ho thought the working people
were wol onough acquainted with him
10 know that ho did not go about the
country or tho city pattinc worEngmen
fI.f a..a.t...
politics with them. Ito wanted 10 SEQ ths
standard ~ living OF the worhngmon
10 hc kept No the highest possible level.
FOR tho civilization and progress Of ma
tion was proportionafe with the hich
plane upon which its laboring people
stood
sIXTEEN TO ONE.
MI Meredith then went into a clear and
LOGICAL discussion Of ho currency ques-
ton. i'm explanation OK the sixteen-to-one
theory he stated that the silver collar
could he dropped into the fire and melted.
Is would then De worth some ffty-three
cents. on the other hand a gold dollar
might Doe dropped into the fire and melted.
Taken out iu the form OF bullion the yell
low metal would be worth dollar just
the same as when IL WAS a coin. "What
is the dlNerenco?' asked Mr.. Meredith.
|l |N. In ono case INt EWNri NIi4TAN rt1hll'
ie reliable and true. and i'm the other
che government stamp is n falsehood." q"
Mr Bryan and Mr.. ANYBODY else might
hc 0rmly convinced that silver and gold
would circulate side hv side 40 ratio
of 16 70 j. Put Mr.. Bryan's firm con-
viction did not mako tho thing true; for
history proved that this fixed parity, gov
crimcnt or no government could nor he
maintained. Some people ere equally as
firmly convinced" said the speaker. that
the world is coming TO an end every year
or two You sec their predictions in
the papers. But the world stays here
5ust the same. their convictions 10 the
contrary Notwithstanding
Continuing. Mr.. Meredith explained that
Thomas jefferson insisted that - -cir-r
laiion Of gom and silver as a national cur
rcncy was not q question OF legal ratio.
hut that their commercial ratio had TO he
asccrtaiucd. ana their respective values
fixcd accordingly. lle exTlainGd in a
clear and concise way how tho new silver
dollars were taken out Of the country in
1906 and foreign silver coins became more
or less n monetary basis for this country.
Mn jefferson had then stopped the coin
age of the new silver dollars. So much
more had the Congress OF tho country
a right 10 act as they did in 1873 by
bringing about what was known as the
"Crlfne or 1886. lseeauae or a olNercnce
OF one per cent said the speaker the
bulk OF the gold was run out Of the
country from 1892 10 1884 and we were
left on a silver basis From 1884 up 10
the present time. except during the war.
the country had been practically on gold
basis This was originally FOR the reason
that tho uarty was changed 20 as 20
MAKE the silver bullion In a dollar. half
dollar. and other silver coin worth more
than tho coin as such. The silver left
the country and marketing in small
way became almost crippled. BY an act
% Congress the silver bullion in the frac-
tlonal currency WAS reduced and more a.
lov put in.
This gave people fractional silver but
[ nothing was done 10 the silver dollar.
In 1853 silver was practically demone-
\ tiled hy an sct o. Congress which made
s;yer LEGAL tender only TO tho amount Of
CNGHANCEABIE LAWS
According 10 Cresham's law on cheap
f\onev would remain IN circulation That
lsl when there Is less bullion OF gold or
Esiver in ths coin than its real value, this
edin VII remain In circulation. IL IL
wAs impossible 20 keep gold and silver in
rigcslatton when their value varied only
frdm 1 10 3 per cent how arc we going
10 )keep them when silver is worth only
lrtle over one half Of Roid2 silver dor
ara pass as silver dollars now because
i. L. nv