President Reagan pocket-vetoed legislation Saturday that would have restricted the amount of advertising allowed during children's television programs.

"While I applaud efforts to increase the amount and quality of children's television programming, the Constitution simply does not empower the federal government to oversee the programming decisions of broadcasters in the manner prescribed by this bill," Reagan said in a statement.The bill would have limited the amount of advertising aired during children's TV programs to between 101/2 and 12 minutes per hour.

"This type of government regulation may well undermine its stated purpose by discouraging commercial networks from financing quality children's programming," the president's statement said.