Excerpts from President Reagan's address to the nation on Nov. 13, 1986:

I know you have been reading, seeing and hearing a lot of stories the past several days attributed to Danish sailors, unnamed observers at Italian ports and Spanish harbors, and especially unnamed government officials of my administration. Well, now you are going to hear the facts from a White House source, and you know my name.

The charge has been made that the United States has shipped weapons to Iran as ransom payment for the release of American hostages in Lebanon, that the United States undercut its allies and secretly violated American policy against trafficking with terrorists. Those charges are utterly false.

The United States has not made concessions to those who hold our people captive . . . and we will not. The United States has not swapped boatloads or planeloads of American weapons for the return of American hostages. And we will not.

During the course of our secret discussions, I authorized the transfer of small amounts of defensive weapons and spare parts for defensive systems to Iran. My purpose was to convince Tehran that our negotiators were acting with my authority, to send a signal that the United States was prepared to replace the animosity between us with a new relationship. These modest deliveries, taken together, could easily fit into a single cargo plane.

It has been widely reported that the Congress, as well as top executive branch officials, were circumvented . . . . {but} all appropriate Cabinet officers were fully consulted. The actions I authorized were and continue to be in full compliance with federal law, and the relevant committees of Congress are being and will be fully informed.

Our government has a firm policy not to capitulate to terrorist demands. That "no concessions" policy remains in force in spite of the wildly speculative and false stories about arms for hostages and alleged ransom payments. We did not trade weapons or anything else for hostages -- nor will we.

As president, I have always operated on the belief that, given the facts, the American people will make the right decision. I believe that to be true now.