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UNIVERSITY OF NORTH CAROLINA

can give. The trustees of the University in accepting their trusteeship
assumed a sacred responsibility. They hold in their keeping a public
trust greater than any private interest whatsoever. It is our faith that
you will not for any consideration hold the garments or speak the
cause of those who would hurl the stones of death.

It is our trust and our strength that in the dark watches of the
depression you will not deny your trusteeship in the face of any who
would mistakenly betray great institutions and agencies of the people's
life to serve a passing hour. One of the things we live by is a faith
in our schools and institutions, become flesh and blood in many men
and women present here this morning. The public schools, state
departments, humanitarian institutions, colleges and University have
stood with and for the state to the limit of their slashed resources and
beyond. We appreciate the fact that in a dark time of closed banks
and wide despair the Governor, with your backing, stood valiantly
against social and intellectual destruction and laid the basis, we trust,
for general recovery and reconstruction. This reconstruction must
be intellectual and spiritual or our economic recovery will but set in
motion again unmastered forces that will bring on a more gigantic
economic breakdown and a more terrible social chaos.

The University, along with the schools, departments, and institu-
tions, has made drastic readjustments. We have cut deep in vital
places to the cost of men and women who have given their best
against the days of despair and deserve your best in the days of
hope. The men and women of the University have not only been
engaged in a work of readjustment but also in a work of reëxamina-
tion of themselves and their institutions as a basis for the recon-
struction of the university and the state.

INWARD REËXAMINATION OF THE INSTITUTIONS BY TRUSTEES,
ALUMNI, STUDENTS, AND FACULTIES

In this work of reëxamination, committees of trustees, citizens,
alumni, students, and the faculties have severally or jointly been
engaged. I wish in your name and in the name of the University to
acknowledge gratefully the coöperative spirit and indispensable help
of all groups of all three institutions. Committees of the trustees for
the respective institutions, as subcommittees of the general committee
on consolidation appointed by the Governor under your authority,