Rutherford B. Hayes: “By virtue of the authority conferred upon me by section 5287 of the Revised Statutes of the United States, and in…”

The imperative necessity for prompt action and the pressure of public duties in this closing week of my term of office compel me to refrain from any attempt to make a full and satisfactory presentation of the objections to the bill.

While, in my opinion, it would be unwise to authorize the Secretary of the Treasury, in his discretion, to offer to the public bonds bearing 3 1/2 per cent interest in aid of refunding, I should not deem it my duty to interpose my…

Believing that a measure for refunding the national debt is not necessarily connected with the national banking law, and that any refunding act would defeat its own object if it imperiled the national banking system or seriously impaired…

Provided, That this withdrawal shall not affect any existing valid adverse rights of any party.