The Washington herald., 1907-02-04
OVERHAUL TREASURY
This May Be COrtelyou'S Task
After March 4.
HITCHCOCK GOES WITH HIM
Financial ImpaFtiaIity to BE the
WutchWOrd-TiDs and Sure Things
Not to BE Given the National City
Bank observation-disclosures iR Per-
sonnet of staR Is ForeshadOwed.

declines TO discuss the policies that VIII
mark his administration of the Office Of
Secretary OF the Treasury. it is known
that the financial department OF the gov
eminent will be thoroughly orerhauled
when Mr.. Cortelyou takes hold
There is good reason to believe that be
ginning March T. the date upon which Mr..
Cortelyou will be indicted into the Office
of Secretaryof the Treasury. certain fnan-
cial interests in New York will witness
a stoppage of leaks" from which they
have derived for a long time Information
Of great value 90 them in the money
market. These interests were RESPONSE
bic, in large part. it is said. for the So
called opposition TO the confirmation Of
Mr.. CortelyOu as Secretary ShaWs sue
cessor.
As Postmaster General Mr.. Cortelyou
with The aid of First Assistant Frank H.
Hitchcock. has recognized the postal
service from top TO bottom Similar work
Of reorganization viii be undertaken by
Mr.. CortelyOu in the Treasury
The Treasury Department has been run
ing along in the same groove for many
years. Secretary Gage. during his in
clmbency Of the office, devoted his time
and attention 90 high finance, and he left
the business details Of the department
largely 10 his advisers. some OF whom
not now in the government service. laid
the ground work for their present aff1u-
ence and prosperity.
Tips in Advance.
Il is these same men vino have the in
side track on matters going on within the
der s~frl
Gus ways TO get tips in advance concern
ing deposits of money and other pro-
spective acts Of the Secretary that are of
great advantage 10 certain persons in New
York and other money centers. Neither
Mr. Gage nor Mr.. Shaw was entirely to
blame for this condition Of affairs. The
system under which the National City
Bank, Of New York. is able 70 learn hours
and even days ahead of rival financial
concerns orders to be issued by the Sec
rotary Of the Treasury was devised and
put in working order some years ago. In
the appointment Of Mr.. Cortelyou as
Secretary Of the Treasury the National
City Bank does not rejoice.
People here who are familiar with Mr.
CortelyOu's methods feel assured that IN
the conduct OF the Treasury all financial
interests viii be treated alike In other
words. the principle Of the square deaf"
wiz prevail
~ lai - 'he treasury personnel is
Co..ytil i'u' ule vacancy created by The
retirement Of Charles HaIlam Keep. of
D0"aio' VINO mas entered upon his duties
a. 9'd15 superintendent OF banking ~
Ai''1i.y iias oesh temp Faiily hlled by The
appointment of Arthur r. Slater. of
Washington, former private secretary 20
IL Gel.
NJ r, 80 NJ poS'1oi has Deen oHered
~. -. III ,''o-N, r iISt ASSISTANT
- - -, 800, s.iH ~ - UNDERSTOOD
u'@' "e VIII accept H. The indications
arr 'N"I Mf. hitchcock VIII not transfer
- lie i[easury uhti July J, the begin
iihs OF me uscal year Mr. Hitchcock
ia! Ia sel on loot a number or reforms ID
~ p,'s''l SCI wee liitt ne Is reluctant 10
aOa''''oi al 1l-is time
surely Goes TO Treasury.
II is certain, however thar Mr. F4i+ch-
cock will accent the Aesfst,,+ s..
800 en-, -. ''a'
- - '.e Incumbent