Murray was inaugurated as the ninth Governor of Oklahoma on January 12, 1931. He faced the harsh problems of the Great Depression. Under the previous Governor, William J. Holloway, the state government had accumulated a deficit of over $5,000,000 in its effort to encourage jobs and provide welfare. Mass unemployment, mortgage foreclosures, the deficit, and bank failures haunted Murray's administration. In 1931, the legislature appropriated $600,000 for emergency necessities. Through money collected from state employees, businessmen, and his own salary, Murray financed programs to feed Oklahoma's poor. No federal relief program had yet been instituted. Murray became a national leader for the victims of the Depression, and called for a national council for relief to be held at Memphis, Tennessee in June 1931.