The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-06
WORKED FOR So A WEEK
SECRETARY GAGE TELLS STORIES
OF HIS BOYHOOD STRUGGLES.
A Discussion of Money Questions,
supplemented by Good Advice to
Young Men Who Wish to Succeed.
Copyright. 1897. by Frank G. carpenterl

Copyright 1897 by Frank G. Carpenter.}
WASHINGTON, June Ais it a hard job
to be secretary of the treasury?
In chat with Mr.. John Serman just be-
fore he became secretary of state l asked
him this question. Senator Sherman replied
that ne found the work Of the treasury no
harder for him than that of the United
States Senate and that the matters with
which he had to deal in the treasury were
those with which he had been throughout
his life familiar. / asked Secretary Gage
the same question to-day, and he gave me
substantially the same answer. Still, the
treasury is the biggest department of our
government It's secretary has to handle
millions He has more than 1900 men in
his employ, and the vast amounts of money
for which he is responsible surpass the
widest dreams of Aladdin or the treasures
of Monte Crsto. The business connected
with the treasury is enormous. 1t embraces
the whole country, and with giant hands
reaches even across the oceans and puts it's
fingers even into the vaults of foreign ma
tions. The work of the office in the past
has been so great that many famous men
who have tried to cope with it have stag
gered at the start, struggled under the load
and fallen dead in the attempt You know
how the pearls of sweat ran down Carlisle's
somber, sallow face, and how the bankers
of Wall street and London had to be called
in to help him bear up under it. You re-
member how Secretary Folger, in Arthur's
time tried to spread himself out under the
treasury load so that every bit of it might
be supported on his back and how it
crushed him. Then Daniel Manning, in the
prime of his manhood, took up the burden
and had his life squeezed out by it. Then
Secretary Window attempted the task, only
to drop dead in the midst of his labors, and
now, when the duties of the situation are
even greater than before, and the load, If
anything, heavier than ever, we have a man
who appears to be carrying it with ease.
Why is it that business which proves the
death of many is SO easily carried on by
scme? 1t lies in the nature of the men,
their abilities and their experience.
FORTY YEARS A BANKER.
Secretary Gage, for instance, is a born
banker, and his life has been spent in hand
ling money Let me give you his biography
in nutshell.
Born in New York about sixty-one years
ago during the last days Of President Jack
son. Beginning his life as a messenger in a
a month At twenty-five night Waterman
in a lumber yard of Chicago, hunting in
vain for another situation in a bank AT
twenty-three a bookkeeper in the Mer-
chants Saving and Loan Company of Chi
cago at $500 a year. A few months later
paying teller in the same institution at
$1,000 year, and at twenty-six the cashier,
with salary Of $4,000. A little later on we
find him nj Ma L
of Chicago, then its vice president and gen
eral manager, and finally some years since
succeeding to its presidency at a salary of
$4,000 a year. He left the presidency to be
secretary of the treasury. There is the
story. For forty years he has been a
banker. For thirty years he has been
handling large sums of money, and for
more than a score millions have been con-
stantly under his eyes. His work in the
United States treasury is not new to him,
and as far as can see it seems to be easy.
| When I called upon him to-day it was at
! the close of his business hours. He looked
as fresh as though he had just come from
| his morning bath His eyes of that Clear
! pale blue found upon fine old china were
free from worry, and although their owner
| is past three score l saw but little sign Of
| crows feet at their corners.
I said to Mr.. Gage that he did not look
| like an overworked or overworried man.
! He replied that he did not feel so, and my
! question as to whether it was a hard jot
! to be secretary OF the treasury naturally
| followed. To this the secretary replied
II know that this office is generally con.
sidered a very difficult one, and that it is
said to have been the death of former sec
retaries. The Treasury Department is g
great machine 1t is well built and it is
now in good running order. The wheels
seem to fit perfectly one into the other
The parts are good, and the machinery is
well oiled. 1t has been running for years
and it seems to me to work very smoothly
and WE'LL
How about the safety valves, Mr.. Secre-
tary?" said 1. "Are there enough of then
to prevent loss or to avoid the danger OF
wrecking the institution
Yes replied Secretary Gage, 'the treas
| ury has it's checks and safety guards every.
where. These are we'll arranged and eff
fective, though to a practical business mar
it may sometimes seem that there are toe
many of Them
UNCLE SANS CASH ACCOUNT.
How much money have you on HAND
now, Mr.. Gage?'
| Here is tO-dayS statement, SAID the
secretary of the treasury as he picked up
| sheet of figures and looked it over. 1--WE
have in round numbers more than $22S,00O
! 900 on hand, or, setting aside 800 000,0 600 as
| a. gold reserve, we have a cash balance Of
| SIPS, 600 600. The fact is that we have $145,-
O0Od 900 in gold, $25 100000 in silver certificates
and little more than $33 600 in treasury
| notes.
! Can you tell, Mr. Secretary, just how
| much money you take in every day."
Certainly we can" was the reply. eve
| know to a cent just what we are spending
and what we are receiving. To-day, fol
/ instance, we have got over $615,00O from
customs. We got $33S, 600 from the inter.
nal revenue and about $4,000 from othe,
sources All told to-day we have taken il
1896 391 AZ. So far this month we have re
ceived 500, 000, 900, and during the current
fiscal year our receipts have amounted t.
$780, 900, 000 OF course, 1 give you these
amounts in round numbers rather thar
! down to the cents.
What have you spent to-day Mr.. Score
| tary?' / asked.
! 1.-The general items are all down on thi.
statement" was the reply. I'VE have spen
to-day for the War Department 1854 900, fo
the navy $50 600, for the Indians $40 900
for civil and miscellaneous $4,000, and fol
pensions 100000 We get a statement o