St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1897-03-05
The New Secretary of the Treasury

The New Secretary of the Treasury.
If Won are fond of reading about
selfmade men, you will find in the
current number OF the Review OF
Reviews highly interesting charac'
ter sketch OF Lyman J. Gage,
who will, no mistakes have been
made. be formally named today, as
we go to press, to the great and
very responsible position OF secre'
tarv of the United States treasury.
II Mr.. Lincoln was right, and no one
gets to the high places in the gilt OF
the American people but those who
in their youth have learned to rely
upon their own resources and man
hood, then Mr.. Cages career falls
within the limits OF the definition OF
a genuinely successful man and
should be a matter of encourage
ment to other American boys.
Mr.. Cages birthright was COM
mon one. A farmers lad in central
New York, he began at the age OF
IA to depend upon his own wits for
a livelihood. For year or more he
did the chores in a Rome bank. He
served as mail agent on the Rome
&, Watertown railway, and then the
western fever seized him. For three
years he did all sorts Of work in a
Chicago lumber yard; he drove
teams, kept books, did duty as night
Waterman and piled lumber. All
this time he felt himself cut out for a
banker, and periodically visited the
Chicago banks in pursuit OF employ
ment. At last, on the Sd day OF
August, 1858, his opportunity came,
and he became book keeper in the
employ of the Merchants Loan and
Trust company on salary OF $500
per year. A few months later he
was paying teller at $1,000 per year
In 1860 he was made cashier and
held the place for the next eight
years at an annual salary of $4,000
About 1874 he was offered $4,000
per year, and refused by him, tc
return to this position which in 1865
he had exchanged for the place o
assistant cashier in the Chicago First
National bank. He was invited tC
greater responsibilities. and in 1885,
became vice president and genera
manager and in 1891 president o
the First National, a place he hac
fairly earned by his great gifts
natural and acquired,
The whole financial world give
him credit for building up, by hi
mastery management, this Gibralte
OF western capital. Among his bus
ness convictions we are glad to not
be firmly believes that no bank off
cial has any business to speculate
and in this matter we NAV a
honestly and heartily endorse III
position.
"Chicagoans have deemed M
Gage an ideal citizen and believe
will make an ideal secretary of II
treasury" This is great praise, b,
when we look about and find tn;
the heads and many members Of Il
labor organizations OF Chicago al
elsewhere have expressed themselv
as pleased with Mr.. Cages appoir
ment to the treasury, and that ;
the financial world is delighted
well, we are led up to the decisi,
that he is not only great admin
traitor but a warm hearted, gen
man, alive to the questions tn
now so earnestly beset us. We g
not surprised, furthermore, to
told that mo movement for CT
ACKNOWLEDGEMENT, no patriotic
deavor, no effort for munich
reform, no great charitable und
taking has been launched for ma
years in Chicago without the sa
ton, counsel or cooperation OF .
Gage"
Cuba.