edly stated to the group that my mind was open and that absolute frankness and freedom of expression and the widest range of suggestion would be welcomed and that the advice the council gave to me would not be made public. There is no purpose or desire on my part to escape full responsibility for my acts. At least eight or ten plans have been proposed and carefully considered. I have tried to analyze every proposal and relate it to our present economic and social problems. I hope to be able to have sufficient information before me Saturday, although this is by no means certain, so that I may announce to the public a financial policy, based upon what I conceive to be the wise and safe course to pursue in this unprecedented period.
JULY 16, 1932
During the past three years economic conditions have compelled me to make many serious and far-reaching decisions. I have never had any question, however, that has given me more concern nor that has received more unremitting attention than the present fiscal situation in the State. I have not been hurried in reaching a conclusion with respect to it. I have studied our whole situation and have conferred with the Council of State, the Advisory Budget Commission, and also representative groups of various classes of our people, and have had the benefit of their judgment and advice with respect to our present financial situation and the policies which can be adopted with respect to it.
I have appointed a committee of fiscal experts in the administration to study it and have before me the facts found as to their agreed estimate of monthly revenue to be collected this year, and I have set this estimate