dBooks desire

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.


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