Woodrow Wilson: “It is hereby ordered, under authority found in the act of June twenty-one, nineteen hundred and six.”

I return herewith, without my approval, House joint resolution No. 440.

We shall not witness an immediate satisfactory adjustment of domestic and international trade relations.

We have been vigorously building up a great merchant marine and providing for improvement of marketing in foreign countries by the passage of an export trade law.

I regret that I am not able to see in the condition of the world at large or in the needs of the United States any such change as would justify the restriction upon that minimum which is proposed by the House Joint Resolution.