US Presidency
1878

To the House of Representatives: After a very careful consideration of the House bill No. 1093, entitled An act to authorize the coinage of the standard silver dollar and to restore its legal-tender character, I feel compelled to return it to the House of Representatives, in which it originated, with my objections to its passage. Holding the opinion, which I expressed in my annual message, that neither the interests of the Government nor of the people of the United States would be promoted by disparaging silver as one of the two precious metals which furnish the coinage of the world, and that legislation which looks to maintaining the volume of intrinsic money to as full a measure of both metals as their relative commercial values will permit would be neither unjust nor inexpedient, it has been my earnest desire to concur with Congress in the adoption of such measures to increase the silver coinage of the country as would not impair the obligation of contracts, either public or private, nor injuriously affect the public credit.