there has been devoted directly to the reduction of the state debt the sum of $9,482,640. During the same period, the State has added a total of only $1,970,000 to its authorized public debt, effecting a net reduction in one year and a half of $7,512,540 in the total authorized indebtedness of the State.
It is my policy, and I shall so recommend to the coming General Assembly, that no addition be made to the state debt for any purpose. I shall also recommend that the schedule of repayment now set up, under which a total of $9,500,000 has been paid on the state debt, in the past eighteen months, be maintained. The fiscal condition of the State is sound in every respect. It is taking care of its obligations as they mature, and will, of course, continue to do so out of the current revenues.
DECEMBER 29, 1930
The Brookings report presents the most complete and comprehensive study ever made of our county and state government. While some of its objectives will not be immediately attainable, it never having been my intention to recommend so complete and drastic a reorganization as the report contemplates, I am yet firmly convinced that a more unified reorganization and coördination of our governmental machinery is an imperative necessity at this time.
I fully realize that we are an old state, steeped in traditions, customs, and deeply ingrained habits which do not readily respond to over-night changes. We must not grasp more than we can hold. Without accepting the full report--the Brookings Institution does not expect it to be received as a whole--I shall proceed