02/24/1887
https://www.presidency.ucsb.edu...
"It is well known that the business of insurance is entered upon with the expectation that the premiums received will pay all losses and yield a profit to the insurance in addition."
"I can not gather from the facts I have been able to collect concerning this appropriation that it is justified on any ground."
"This bill is in many of its features far removed from a legitimate deficiency bill, and it contains a number of appropriations which seem to me to be exceedingly questionable."
"I regret that I am constrained to disapprove an important appropriation bill so near the close of the present session of Congress."