It is my firm conviction that the issue of legal-tender paper money based wholly upon the authority and credit of the Government, except in extreme emergency, is without warrant in the Constitution and a violation of sound financial principles.
Third Annual Message
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More from Rutherford B. Hayes
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…
I have the honor to inform the Senate that Hon. Benjamin Harrison, Senator elect from the State of Indiana, has resigned his office as a member of the Commission for the Improvement of the Mississippi River, and the same has been accepted…
Provided, That this withdrawal shall not affect any existing valid adverse rights of any party.
I can not but regard the fifth section of the bill as a step in the direction of the destruction of the national banking system.
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