In addition, he presented a solid argument for the establishment of a sinking fund, accumulated through regular deposits and used to pay the interest and principal on the national debt.
Previous administrations had paid for the excess by using money from the federal government for war claims by the state and money from the state's sinking fund.
The constitution required the state legislature to establish a sinking fund to repay the debt as soon as practicable but within at least 34 years (including interest).
