Chris
I would suggest that a 24V PSU for a 3.75V motor is not suitable. You can put dropper resistors in series, but is is a very inelegant way to go about it.
There is not enough info. on the stepper motor, but here's a quick ball park guess .. lot of assumptions tho'
24 - 3.75 = 20.25 V to be lost.
Assume motor load = 2.5A ( & constant, which it won't be)
Series resistor = ( R = ( E / I ) 8.1 R
Power to dissipate = I^2 x R = 50W
Thats a lot, it will get hot.
If I were doing this, I would not go with that PSU. It doesn't really come close to what is reqd.
John. If the PSU has effective current limiting, you wont get 7.5A out of it. I presume if it's designed for 2.5A, the internals would be stressed at 7.5A.
I would make my own PSU, (do a Darren

, )with my favourite Reg. ic, the L200, with a series pass transistor.
This chip is a variable output from 2.7V to 37V at 2A, more with a pass transistor.
Try looking for L200.pdf
Lots of circuits thereon..
Dave