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. It is only upon the conviction
that this bill does not meet these essential requirements that I feel
it my duty to withhold from it my approval.

My present official duty as to this bill permits only an attention to
the specific objections to its passage which seem to me so important
as to justify me in asking from the wisdom and duty of Congress that
further consideration of the bill for which the Constitution has in
such cases provided.

The bill provides for the coinage of silver dollars of the weight of
412-1/2 grains each, of standard silver, to be a legal tender at their
nominal value for all debts and dues, public and private, except where
otherwise expressly stipulated in the contract. It is well known that