Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-07-04
He SENT THE DRAFT BACK
And Pinned to 1t Was a Singing
Rebuke.
BANKING FIRM CALLED DOWN
They Undertook to Scare Delegate 0'Donnell
by a clustering Letter.
ClIEEKlEST THING OF THE SEASON
They Know Now That the Sovereign Right
of the People Is Not to Be Bartered
for Prospective Investments
of British Gold.
cuEENEsT THING OF THE SEASON

Chicago, July Son his arrival here
this morning from Denver, Hon. T. j.
O'Donnell, one of the delegates at large
from Colorado, who is one of the prom
inent lawyers of that state, representing
extensive eastern and European invest
ors, found awaiting him letter from N.
w. Harris & Co., the New York and Chi
cago bankers and bondholders, which
was in part as follows:
1T has been our speciality for many
years to secure capital from the east and
from abroad to develop the resources of
the west and the south. We have thus
invested over $4,000, 900, of which $777,-
600 have been invested in your state of
Colorado. Our experience in this line
has given us exceptional opportunities
to know the attitude of the eastern and
foreign investors concerning the furnish
ing of additional capital for development
purposes in the sections named and In
cluding your state. The information
coming to us from individual investors,
as well as from large financial institu-
TONS confirms the position that any con-
siderable amounts of eastern and for
efgn capital cannot again, under any cir
cumstances, be brought into the west or
the south until there are no longer any
fears or apprehension regarding the
country being on a silver basis.
I'm our opinion. any other line of policy
than one in favor of the maintenance 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 international agreement
Will indefinitely delay the return of pros
perity especially 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
country's natural resources. The adop-
of ra1a hU ho ma a
ocratic convention would have the effect
of immedia tely restoring business conf
dence and reviving commercial activity
ITO this Mr.. O'Donnell this afternoon
sent a lengthy reply. in which he said,
among other things
"Your draft upon the principle,
patriotism and integrity of the democ-
racy must be refused. You cannot pur-
chase the sovereign right of the people
Of Colorado to take that part In the
government of the republic guaranteed
them by the constitution for $777, 900. A
duplication of your boasted total invest
ment of $110, 100000 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.
The government of this country has been
left too long in the hands of bankers and
bond dealers.
1.-THE people have concluded to take
possession of their own again, and If
any additional reason were needed to
justify that decision 1t would be furnish
ed by such letters as yours. We may as
well learn this year as any other year
whether we are free or whether you and
the people you represent are masters.
The interest on your $110,000,000 and your
S777000 will go right along whether the
sun shines or not, but we are now pro-
claiming a new declara tion of independ-
ence, to-wit: That these United States
can and will maintain their financial and
other domestic affairs without the con-
sent of any other nation on earth, and to
that end the government of this nation
can and will receive at its mints for CON-
age into lawful, debt paying, full legal
tender money both gold and silver at the
ratio of 16 to /. without discrimination
or charge for mintage, and without wait
ing for or asking the consent of any
other nation so to do.
at may be added that IL any i'll shall
hereafter result to the creditor classes Of
this country by reason of the agitation
for the restoration to this nation of that
sovereign prerogative always claimed
and exercised by civilized people, who
are not dependencies, it will be the result
of threats and coercion so thinly veiled
In the letter to which this is reply, and
not the. offspring of any act Of those who
believe with me-"