by the 1931 General Assembly in the hope that provisions of this act may be helpful to this committee in its work. His attention was called to the local government act by an article appearing in Business Week, from which the following is quoted:
North Carolina is making the most drastic move of any, a move that is being watched closely by other states which may copy the plan if it works. And it appears to be working.
Four years ago the State established an advisory commission with considerable power in directing the fiscal affairs of the 100 counties. In 1929 the commission's power was extended. And now the legislature has set up a new "Local Finance Commission" with absolute power over all of the fiscal policies of every local government unit in the State.
This complete mandatory state control began in the spring, and is working out even better than expected. Large immediate and future savings have been made possible by central marketing of new securities. In addition, much unnecessary local financing has been delayed or stopped.
Mr. Sargent is president of the Chicago and Northwestern Railway Company.
I have been anxiously observing to see if I could discover the most infallible sign that we are fully conserving and saving all the food reserves of the State. I have been looking to see if I could find sheets spread on the sheds of the country side, covered with apples and peaches drying in the sun. There is nothing more wholesome than dried fruit in the winter time. Whenever I see these evidences of saving and thrift I will become convinced that we are getting back to fundamental principles of living at home.