Morgan opened with a short history of his political career, in which he served as N.C. attorney general and N.C. senator in addition to holding a position as a U.S. senator.
Morgan then quickly turned to the topic of campaign finance reform, which he said was not nearly the problem that it is today many years ago when he ran for office.
He said during the five times he ran for state senate he did not ask for any money. Instead, he went directly to the people to gain funding, often going door to door to meet them and speak with them.
In contrast, he said N.C. Senate candidates today raise an average of $138,000 every two years.
In addition, the representative who now holds his former seat in the N.C. Senate raised $284,000 in 1998.
"It has become so expensive, it is almost impossible to attract bright young candidates," Morgan said. "There is little time for candidates to get out and see the people."
He said the change in funding over the years is evidence that special interests have taken over political campaigns in the United States.
Morgan was quick to point out that public officials are not necessarily committing fraud. Instead, sponsors are donating money to buy access to the candidates, he said.
The more money a supporter gives to a candidate, the more likely the supporter's opinion will be heard by the candidate, Morgan explained.