To the House of Representatives: *
House bill No. 3341+ is herewith returned without my approval, for the reasons, first, that it appropriates from the Treasury a large sum of money at a time when the revenue is insufficient for current wants and this proposed further drain on the Treasury. The issue of bonds, authorized by the bill to a very large and indefinite amount, would seriously embarrass the refunding operations now progressing, whereby the interest of the bonded debt of the United States is being largely reduced. Second, I do not believe that any considerable portion of the ex-soldiers who, it is supposed, will be beneficiaries of this appropriation are applicants for it, but, rather, it would result more in a measure for the relief of claim agents and middlemen who would intervene to collect or discount the bounties granted by it. The passage of this bill at this time is inconsistent with the measures of economy now demanded by the necessities of the country.
*Pocket veto. This message was written in the President's room at the Capitol, but failed to reach the House of Representatives before the final adjournment of Congress. The original is filed at the Executive Mansion.
+"An act to equalize the bounties of soldiers who served in the late war for the Union."
(The following messages were sent to the special session of the Senate convened by proclamation of February 17, 1875.)
Ulysses S. Grant, Veto Message Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/204183