Statue of Liberty and about two percent of the exterior plates needed to be replaced. Although problems with the armature had been recognized as early as 1936, when cast iron replacements for some of the bars had been installed, much of the corrosion had been hidden by layers of paint applied over the years. In May 1982, President Ronald Reagan announced the formation of the Statue of Liberty–Ellis Island Centennial Commission, led by Chrysler Corporation chair Lee Iacocca, to raise the funds needed to complete the work. Through its fundraising arm, the Statue of Liberty–Ellis Island Foundation, Inc., the group raised more than
Statue of Liberty lowered to unveil the statue at the close of Evarts's speech, but Bartholdi mistook a pause as the conclusion and let the flag fall prematurely. The ensuing cheers put an end to Evarts's address. President Cleveland spoke next, stating that the statue's "stream of light shall pierce the darkness of ignorance and man's oppression until Liberty enlightens the world". Bartholdi, observed near the dais, was called upon to speak, but he declined. Orator Chauncey M. Depew concluded the speechmaking with a lengthy address. No members of the general public were permitted on the island during the ceremonies, which were reserved