The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-06-28
BANKERS MADE BY UNCLE SAM
CHANCES FOR YOUNG MEN IN THE
TREASURY DEPARTMENT.
Career OF Milton T.. Allies the Most Recent
Illust ratiOn-Startcd at the Bottom
and Came Out at the TOp-Conp'
trOlIers OF the Currency in Demand.

and Came Out at the Top-Comp.
trOilers OF the Currency In Demand.
WAsHINGroN, June c7.-Just now it
seems as If tho best openings in the Govern
ment service for young men were In the
Treasury Department.. The salaries there
are no better, perhaps not 30 good. as in
some other executive departments But
Treasury places seem to be stepping stones
to better places in commercial life.
One of the most striking examples Of the
opportunities that come to men in the Treas
ury Depart ment Is found in the career OF
Milton +. Allies, who left it recently to be-
come yice-president of the Riggs National
Bank Of Washington. BEFORE him in re-
cent years has passed a long procession
| of men who went from the Treasury De-
partment to places of homer and trust in
the business world.
The former Secretary OF the Treasury
Lyman J. Gage, had. when he suddenly
announced his intention to resign his Cab-
net place, no fewer than seven offers OF
employment from big financial concerns.
The offers came from three of the largest
cities in the country, New York, Philadelphia
and Chicago, and were, just the day after
he made his choice. supplemented by an
he was able to choose place Of residence
and salary ranging from $4,000 to $685.
600 per annum. He considered the advan-
tages and disadvantages of each. and
! settled in New York city.
OF the chiefs of bureaus and divisions,
the Comptrollers of the Currency seem to
fare best when they leave the Government
employ. Charles Gates Dawes went from
that office to fruit less political contest, and
after a struggle of few months acce pied
a place at the head of financial concern
in Chicago, with an excellent salary and
great possibilities for making money.
James A. Eclsels, one Of his predecessors,
also has an Office Of large emolument and
trust in Chicago Mr.. Hepburn became
vice-presdcnt of the Chase National Of
New York city. Mr.. Lacey secured place
with enc Of the insurance companies which,
in pay and responsibility. is not exceeded
by that of any officer Of bank or trust
company in the country.
There are many reasons why Comp
trollcrs Of the Currency should be con-
sidered desirable as officers of banks or
trust companies, Their opportunities for
studying at close range the financial sys-
TEN of the country are unexcelled, and in
their keeping arc the secrets of every bank
ing house IL the national banking system.
If the Comptroller chooses to study them,
they afford post graduate course in bust
ness and finance such as is offered nowhere
else.
The fact that the Comptroller is in posi-
ton to secure confidential information,
conduct Il special study along certain lines.
and in a measure become a specialist +.
hardly puts him in class with the other
employees of the Department. He usually
comes to the service already equipped "a
banker or recognized student of finance.
Men do not rise from modest places in the
DEPARTMENT to the Office of Comptroller
OF the Currency.
Through the office Of the Secretary Of
the Treasury, though, many men go to good
positions. They are men not content
with the limited salaries which the civil
service offers, nor are they the men who
follow the course of many Government
employees of only giving service to tho
Government in return for the salaries
received and who plan to avoid extra tasks
or duties not called for between the strokes
of the clock which mark the opening and
the closing of the business day.
Both Mr.. Allies and his predecessor. Mr.
Vanderbilt, went from the office Of the
Secretary of the Treasury to good places
Mr.. Allies remained in Washington and Mr..
,icc- president Of a great bank. The adj
vance of these men was not accidental
nor was il the result Of IA combination of
fortunate circumstances. They seized OPP
portunitics. They also made their Cp-
| portunities.
Allies came 80 Washington from a country
town in Ohio. His opportunities for secur
ing an education were li:nited to he public
school. He tried country newspaper work
and then decided that he would seek Ell
trance to the Government, service. He
came to Washington and entered the
Treasury Department as an assistant
messenger.
He did not stop to figure out that the
place was not good enough for him or that
he was not even using the education that
he had secured but quietly accepted the
place az $50 month, with the determine
ton that he would secure his own advance
ment in time. His first work was carry
ing the ice to the coolers in summer and
coal to the freplaces in winter He had
a station just outside the door of tho office
of the Commissioner of Internal Revenue.
Above him was gong AZ whose sound he
rose to do the errands Of the Commissioner.
The most dgniied work he had to do
in those days, hardly more than eighteen
years ago, was to blot the signature of the
Commissioner or to change the ink in his
well. But one day as Commissioner Charles
Chesley walked past Ailes's chair he no
ticed the young messenger was struggling
with a great calfbound volume. Chesley
leaned over and said;
Blackstone, Ell? Well. stick to it, son,
and you won't be an assistant messenger
long"
Allies did stick to it, and Chesley saw that
he did and learned, too, that he was attend
ing the night session of the National Uni
versity. Allies got a seat inside the Com
missioner's office and, perhaps, a better
opportunity to study Through civil serv-
ice competition he was taken from the head
of the eligible list for a 81 900 place, While
occupying this he qualified and passed
an examination for law clerk, and this
brought him, when assigned to his new
duties, 81 900 year.
How he entered the Office of the Secretary
of the Treasury is not a commonplace tale.
1t was known among his associates that
he was the first man at his desk In the morn
ing and the last one to leave 1t at night.
II he had no work to do he remained to
pore over some report or study law or
finance
Late one afternoon, when most of the
offices had been emptied and the corridors
echoed under the footsteps, a messenger
hurried to the office of the Assistant Score
tary OF the Treasury, Scott Wike, with a
| .l.r~ 7, = 81