Presidents -- United States -- Messages; United States -- Politics and government -- Sources
I believe that under the act of 1887 it has the authority to do this and in
absence of any action by Congress I shall direct the Secretary of the
Treasury to make the necessary deposit as required by the Court's decree to
qualify as a bidder and to bid at the sale a sum which will at least equal
the principal of the debt due to the Government; but suggest in order to
remove all controversy that an amendment of the law be immediately passed
explicitly giving such powers and appropriating in general terms whatever
sum is sufficient therefor.
In so important a matter as the Government becoming the possible owner of
railroad property which it perforce must conduct and operate, I feel
constrained to lay before Congress these facts for its consideration and
action before the consummation of the sale. It is clear to my mind that the
Government should not permit the property to be sold at a price which will
yield less than one-half of the principal of its debt and less than
one-fifth of its entire debt, principal and interest. But whether the
Government, rather than accept less than its claim, should become a bidder
and thereby the owner of the property, I submit to the Congress for
action.
The Library building provided for by the act of Congress approved April 15,
1886, has been completed and opened to the public. It should be a matter of
congratulation that through the foresight and munificence of Congress the
nation possesses this noble treasure-house of knowledge. It is earnestly to
be hoped that having done so much toward the cause of education, Congress
will continue to develop the Library in every phase of research to the end
that it may be not only one of the most magnificent but among the richest
and most useful libraries in the world.
Public-domain text, read in full here on John Shaqi.
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