The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-07-12

TREASURY DEPARTMENT An EXCEL
LENT MEDIUM TO SUCCESS.
Men Who Have Gained Experience
There That Commands Conf
dencc-They Worked Hard.

Washington Post.
Treasury positions seem to be the step
ping stones to better places in commercial
lines. Some of the most successful men
now in mercantile and industrial pursuits
served an apprenticeship in the great
stone pile. with it's classical outlines. Re
cent designations from the department
bear out the belief that to the Treasury
Department men of affairs turn for the
sort of material they want in building up
their business, and that they succeed in
getting there the kind of men to whom
they can intrust their interests. One of
the most striking examples of opportuni-
ties that come to men is found in the
career OF Mr.. Milton E. Allies, who left
the department to become the vice presi-
dent of a local bank. Before him in re-
cent years have passed a long procession
of young men who went from treasury
positions TO places OF honor and trust. The
former secretary of the treasury. Mr.. Ly-
man j. Gage. when he suddenly announced
his intention to resign his Cabinet place.
had not less than seven offers of employ
ment 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
another from a St. Louis trust company.
Thus he was able to choose q place of resi-
dence and a salary ranging from $4,000 to
5000 per annum He considered the adj
vantages and disadvantages of each and
located in New York city.
or the chiefs of bureaus and divisions,
the controllers of currency seem to fare
best when they leave the government en-
ploy. Charles Gates Dawes went from
that office to a ~fruitless political contest,
and after a struggle of a few months, ac-
cepted a place at the head of a financial
concern in Chicago with an excellent SAL
airy and great possibilities for making
money. Eckles, a predecessor of Dawes,
and trust In Chicago. Hepburn became
vice president of the famed Chase Ma
tional Of New York city. Lacey secured
a place with one of the old-line insurance
companies, which in measure of pay and
responsibility is not exceeded by that of
any office of a bank or trust company in
the country; There are many reasons
why controllers of currency should be
considered valuable assets of banks or
trust companies. : Their opportunities are
not only unexcelled for studying at close
range the financial system of the coun-
try, but in their keeping are the secrets of
every banking house in the national bank
ing system. Every transaction in securi-
ties and every move that affects the
standing of reliability of a bank or an in
dividual interested in a bank is reported
to the office of the controller. If he
chooses to study them it affords a post
graduate course in business and finance
such as Is offered nowhere else.
THEY SEIZED OPPORTUNITY.
Both Mr.. Allies and his predecessor, Mr..
Vanderlip. went from the office of the
secretary of the treasury to good places.
Allies remained in Washington and Van
derlip went to New York city as the vice
president of a great bank. The advance
of these men was not accidental, nor was
it the result of a combination of fortunate
circumstances They seized the opportunities.
They also made their opportunities. The
younger generation of Americans can find
Inspiration for success in the careers of
both Vanderlip and Allies.
Allies came to Washington from a country
town in Ohio. His opportunities for Sc
public school. His father was an educator.
and while the boy worked the father sup
plemented his public school education by
tutoring him as far as practicable. Allies
tried a turn at country newspaper work,
and then decided he would seek entrance
to the government service. He came to
Washington and entered the Treasury De-
partment as 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 be had
secured, but quietly accepted the place at
$50 per month. with the determination that
he would secure his own advancement in
time. Milton Z. Allies, now the vice presi-
dent of the Riggs National Bank in Wash
ington, one of the Oldest and largest of the
national capital, did his first work here
carrying the ice to the coolers i'm summer
and coal to the fireplaces in winter. He had
a station just outside the door of the Office
of the commissioner of internal revenue.
Above him was a changing gong, at whose
sound he rose to wait the pleasure of the
commissioner. The most dignified work he
had to do In those days, hardly more than
eighteen years ago, was to blot the sigma
ture of the commissioner or to change the
ink in the well. But one day as Commits
sioner Charles Chesley walked past Ailes's
chair he noticed the young messenger was