A capacitor's function depends on how it is connected in a circuit. In a power supply (including a battery powered circuit), the capacitor's job is to help regulate the voltage by opposing changes. If the DC voltage goes up, the capacitor charges, taking on more energy. If the applied voltage goes down, the capacitor discharges, releasing energy attempting to hold voltage constant. This has no effect on sound, unless, of course, the capacitor fails.
In a signal path, however, the capacitor behaves differently. In a coupling hookup, the capacitors job is to pass AC frequencies while blocking DC voltage. In this application, the capacitor presents a frequency-variable 'resistance' to the AC signal. The lower the frequency, the more 'resistance'. It's really called capacitive reactance. At zero Hertz (DC) it's reactance approaches infinity. In this sense, a capacitor behaves like a frequency-variable resistor.
In a passive tone control (typically a low-pass filter), the capacitor has reference to ground through a potentiometer. Because reactance reduces as frequency increases, more high frequencies are passed to ground, thereby making the remaining signal contain more low frequencies (This makes the sound more and more bassy as the resistance of the potentiometer is decreased.) Increasing resistance of the potentiometer allows less signal through the capacitor, thereby making the tone contain more high frequencies.
In signal path/tone control circuits, the larger capacitor can pass the lower frequencies.
Hope this helps,
Omar