The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-07
SECRETARIES OF THE TREASURY.


In the large scope of national affairs,
whether OF military, or banking, or for
cign policy, d character Of mind is need
cd which does not depend for its power
upon the training which is required in
a subordinate department, whether of the
army or navy or banking IN TINS coh-
nection the New York Evening Post has
an interesting article on the incoming.
Secretary OF the Treasury, Mr.. Leslie M.
Shaw. who does not bring to his ne"
position any wide experience as a great
banker.
Mr.. Shaw is by profession lawyer and
though lie has been connected with banks,
they have been small banks in country
towns-not the sort of experience that
would be apt to give of itself an insight
into the great currents OF national ana
international finance. This almost intul-
tive knowledge, which has been possessed
bv all great national tinanciers, is not a
question of bookkeeping or discount. a
right jrGgmcnt OF these matters docs
not even depend upon q personal knowl-
edge Of Wall Street. 1t is rather that
character Of mind which ahsorbs and dl-
gests The large problems Of national pros
perity, as opposed to the trade questions
of any one class viewed by themselves. :
Most Of the great bankers of nations
Rave been men who were chosen without
any reference to their previous training
for this department.
Mr.. Gladstone never worked in a bank
ers office in his life, or kept a set OF
books. And yet he mastered the intrl-
cacics of British finance as no other Ing
lishinan OF modern times has done. The
House of Commons used to listen to his
budget speech with rapt attention, for
lie was able to infuse into the dry sta
tistics of that stale paper personality
and a charm which was lacking in many
orators who chose far more attractive
ana inspiring topics. Sir Robert Peel,
IIusiisson, Wapole and Montague were
none of them bankers or men of affairs
in the usual sense of the word.
Necker, who under more suspicious cir
power, started his life, We think, as a
bank clerk, but the coming of the Revo-
luton gave him no chance to show what
he could do for France Colbert, the
greatest of French 1inanciers, had had
no experience as a banker until he was
placed in command
In America some Of our greatest names
in national finance are found to come
frome those who did not start life as
financiers Tor example, Alexander Ham
ilton, Albert Gallatin, Robert j. Walker
John Sherman and John C. Carlisle were
all without training as bankers. No mat
ter what we may feel as to the views on
questions OF finance held by some Of
these treasurers, they were undoubtedly
men of great ability and sisnalized their
management of the Treasury Depart
ment.
Such a training as they had fitted them
ia tler for q meeting with men and large
affairs than for keeping books, for they
reached their positions by the regular
stepping stones OF political life, and from
these stepping stones they learned how
10 deal with men and affairs in way
that never could have been acquired by
lsainstaking work as a banker. Dean
Swift once remarked, says the Evening
Post, that he had personally known three
great ministers who could exactly com
pute and settle the accounts of q king
dom, but were wholly ignorant of their
own economy and there have been in
stances of the same curious phenomenon
since his time. But The principle OF spe-
cial interest lies in the teaching OF the
careers 10 which we have referred, that
successful management of pablo finances,
even to-day, depend On Qualities which
10 not depend for their Development on
| a professional education.