Jones Memorial Terrace was erected in 1957 by George and Jessie Jones in loving memory of their son, Earl E. Jones, an Ashland College student in 1920-21 who died in 1921. Located in front of Founders Hall, it was dedicated to the pleasurable growth and development of the young people who attend Ashland College and features three major events in the college's history: a stone engraved "1881" for the first class to graduate from Ashland College, a stone bench engraved "1904" for the first four-year class after the reopening of the college, and the keystone and corner stone saved from the original Founders Hall, engraved "1878." Heritage remembered and respected is an effective prologue to both present and future.