ADDRESS* DELIVERED BEFORE THE STATE COUNCIL ON UNEMPLOYMENT RELIEF RALEIGH, N. C.
DECEMBER 2, 1930
I congratulate you on your patriotic response to an urgent call from the State.
North Carolina can see vividly the signs of depression, because the last thing a person gives up or retires is an automobile, and in this State 30,000 have been retired in eleven months of 1930.
This means a loss to the State of $400,000 in license tag revenue and more than $1,000,000 in total revenue, and a similar decrease is being seen in every tax the State collects.
I am not pessimistic toward the future, but I feel we must consciously recognize the present condition. North Carolina has gone through worse conditions, and has won out.
I am sure the organized consciousness of this State will respond to the needs of the unfortunate at this time, but I do not hesitate to say, after an intensive and careful study, we are facing the most critical period since the Civil War, and the individuals and institutions of the State must realize the condition.
There must be a relation between income and expenditures, and the way to win this fight is to recognize that we must adjust our expenditures to our incomes.
Today the State has exhausted its ability to build and contemplates its inability to pay.____________________