New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-10
REPUTATION IN COLORADO.

TO the. Ed1tOr or i n
Sir: Certainly the bankers, capitalists. rich mine
owners and trust companies OF this great prosperous
state cannot appreciate the immense injury that
Colorado has sustained and will continue to sustain
a rapidly Increasing scale by sanctionng repudin-
ton OF her State and county bonds and warrants.
Reputation Is subject which touches deeply the
ntcret and National pride OF American Citizen
Europe and Its great moneyed centres do not stop
to consider state lines and geographical sections
It is sufficient that Reputation In the United states
is going and that the people tolerate and sanction
It under pretexts that neither legal. creditabe or
honest. In the numerous cases In Colorado where
reputation was attempted the Supreme Court OF the
United states has rendered decisions ordering pay
ment to he made, but even under these declsiohs
vcxaoms delays have been intcrpcsed. the freeze
out process has been diligently worked and creditors
have not received o dollar either principal or IN
forest When Il community thus stains Itself with
acts like these no service be rendered to them
half so beneficial to their highest interests as TO 70
call them to an awakened sense of honor and en-
tighten self interest Reputation Is faint winch,
once firmly fastened upon State, county or city, Is
like a malignant cancer eating day and night into
It's vltals and destroying the confidence OF investors
in all enterprises.
Those best conversant with Colorado and its affairs
know that this Is exactly what Is taking place there
II capta IS sought in Eastern centres for development
OF the vast coal mines In GunnlsOn County or the
gold and silver mines Of Lake County, for the ir1
CATION works OF other portions OF the state Ior ahd
syndicates or for the building Of railroads, the
history OF reputation is certain to come mp, and
the enterprises are dropped by careful capitalists
Colorado stands in this position. Investors bought
Ter securities in perfect good faith and paid In cash
their full market value. The money thus received
was used for building schoOlhonses and other public
huildngs maintaining their county governments, sup
norng their charitable institutions, constructing Their
roads paying the salaries OF their judges, and for
other Indispensable purposes These securities were
purchased largely In England by widows, orphans
and clergymen, who. being kept out OF their money
for eleven years. have thereby endured great amOnt
OF actual suffering. Now, for great rlcn Stite 70
ottcmnt TO put money Into Its pocket ana actuaily
rob y dOws and orphans In these days OF prosperity
l. something that every citizen In the United states
Is bound TO resent and resist Inc Judges ana n tn0
courts Of the state responsible for these tmngs
The Legislature, the Governor and even tine senators
OF Colorado who occupy seats In tile Cni'eh STATES
Senate have a solemn duty to perform In nHlhS
Colorado ont Of the black list OF repudating states
II there was any defect In the laws under whIcn hese
securities issued 1t was me nrst ana most
pressing duty o. the people OF Colorado TO cure suc
defect Ly supplemental legislation, and not come INTO
court with their own negligence rs plea substantially
for out and out robbery-for certainly It cannot DC
called BY any other name under the circumstances
cited I'm the of the highest courts ana In the
nre,s generally. Tie Chambers OF commerce In the
State of Colorado the capitalists and bankers. cannot
NOS siby hold meetings for their own honor
and the credit Of the state and counties 10 settle
their long securities. principal ana interest,"
New.York, March &c. 1893.