The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-07-07
COLDBUG THREAT.
Eastern Bankers Try to Bully
a Colorado Delegate.
Said All Capital Would BeWith-
drawn From Colorado.
a. VIGOROUS REPLY.
COloradOan Says Bankers Have
Too Long Run the Country.
The People Are Going to Assert
Themselves This Year.
4 VIGOROUS REPLY.

Chicago, July 1T. J. O'Donneu Of
Denver, one of the elegates-at-Iarge
from Colorado, who is one of the prom
inent lawyers Of that state, represent
ing extensive eastern and European in
yestors, has received a letter from N.
W. Harris & Co, the New York and
Chicago bankers and bond dealers,
which was in part as follows:
1T has been our specially for many
years to secure capital from the east
and from abroad to develop the re-
sources Of the west and south We
have thus invested over S110, O00, 600, of
which S777 600 have been invested in
your state of Colorado. Our expert
anee in this line has given US excep-
eional opportunities to know the atti-
1ude of the eastern and foreign invest
ors concerning the furnishing of addi-
ti0nal capital for development purposes
IN the sections named. The infOrma-
sion coming to US from individual in
yestors as well as from large financial
Institutions confirms the position that
any considerable amOuntsof eastern and
foreign capital cannot again, under any
circumstances, be brought into the west
or the south until there are no longer
any fears or apprehensions regarding
the country being on a silver basis.
In our opinion, any other line of
policy than one in favor of the main
tenance of the present gold standard
and against the free coinage of silver,
whether in the ratio of 16 to l or in
any-ratio whatever, until fixed by in
ternationaI agreement, will indefinitely
delay the return of prosperity. and es-
pecially to the west and south, where
new capital, only to be obtained from
the east and from abroad, is so much
needed for the development of the coun-
try's natural resources. The adoption
Of 2 gold plank by the Democratic ma
tfonal convention would have the effect
o. Immediately restoring business con-
fdence and reviving commercial activ-
fty."
To this Mr.. O'DOnnell sent a lengthy
reply, in which he said:
Your draft upon the principle. pa
triotism and integrity of the Democ-
racy must be refused. You cannot
purchase the sovereign right of the
people of Colorado to take part in the
government of the republic guaranteed
them by the constitution for $777, 900. A
duplication of your boosted total in
vestment of S110.0 900 in the west and
south will not serve in this year of our
Lord to swerve the Democracy of the
sections one iota from the straight path
Of duty.
'sThe government Of this country has
been left too long in the hands of bank
concluded to take possession of their
own again, and if any additional rea-
son We're needed to justify that decis-
ion, it would be furnished by such let
ters as yours. We may as well learn
this year or any other year whether
We are free or whether you and the
people you represent are masters. Tho
interest on your S110, 900 and your
$777, 600 will go right along, whether the
sun shines OF not, but we are now pro-
claiming a new declaration ofindepend--
ence, tO-wit: that these United States
can and will maintain their financial
and other domestic affairs without con
sent OF any other nation or earth, and
to the end that the government OF this
nation can and Will receive at its minis
for coinage into lawful, debt paying,
silver AT the ratio of i to =, without
discriminati ton or charge for rnlntage,
and without waiting for or asking the
consent Of any other nation to do so.
1T may be added that if any i'll shall
hereafter result to the creditor classes
of this country by reason of the asita-
ton for the restoration u this nation
Of that sovereign prerogative always
claimed and exercised by civilized peo-
pie, who are not dependencies, it will
be the result of threats and coercion so
thinly yelled in the letter to which this
Is a reply, and not the offspring OF any
act of those who believe with me-