New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-02-02
TREASURY POST FILLED
GEORGE II. REYNOLDS, OF
CHICAGO, SELECTED.
Bank President To Be Secretary in
Ar. Taffs Cqknet- accepted
Office Only after Pressure.
From The Tribune Bureau. 7

Washington, Feb George NJ. Reynolds
president Of the Continental National Bank of
Chicago, will be Secretary Of the Treasury in
the Taft Cabinet. This fills the one blank in
the Cabinet slate printed in The Tribune of
January IS. at which time It was possible only
20 disclose the fact that the new Secretary of
the Treasury would be "a banker from a state
west Of Ohio" Mr.. Reynolds who is also presi-
dent Of the National Bankers Association has
built up the bank of which he is president from
q small concern TO one Of the largest and sound
est institutions in Chicago He is a man of
considerable personal means. but is without ex-
rensive outside connections. which in the case
Of number of men who have been considered
FOR this important portfolio have proved en-
bsrrassing
II is. perhaps. a notable feature Of the selec-
ton Of Mr.. Reynolds that not only was he not
an applicant for the place, but that it required
the exer1ion Of some pressure to induce him to
accept. Although Mr.. Reynolds will be charged
10 Illinois. in the parIance of federal patronage
he comes 10 the Cabinet without the political
backing Of any member of the Illinois delega-
ton in Congress. although his selection will
doubtless prove acceptable. for his standing as
banker and f1nancier is unusually high.
Immediately after his election Mr. Taft gave
considerable thought TO the selection of ex-Gov-
ernor Myron T Herrick Of Ohio for the Treas
NY portfolio. but finally came to the conclusion
that Theodore E Burton would make the best
possible choice. and the place was offered to Mr..
Burton. This was shortly before Mr.. Burton
was elected TO the Senate. A1r- Taft then deter
mined to go to Illinois for his Secretary of the
Treasury and he sent messengers TO John J.
Mitchell. president of the Illinois Trust and Saw
ings Company, but when Mr.. Mitchell submit
ted certain considerations to the President-elect
it was decided TO look elsewhere. but still in
Illinois. George z. Roberts, formerly Director
bank. was considered for a time, but il was
found that the members Of the Illinois delega-
ton would object TO Mr.. Roberts being consid-
cred an Illinoisan. as he had so recently become
2 resident OF that state and still retained ex-
fensive interests In Iowa Finally Mr. Reyn-
olds was determined upon, and the President
elect sought TO ascertain If he would accept the
place Having learned that he will, the offer
has been formally made TO him and accepted.
MI Reynolds recently appeared before the Ma
tjoraI Monetary Commission and made most
favorable impression on ali the members. He is
known TO be in sympathy with the central bank
Of issue proposition which has been determined
,1ror by the commission and there is a harmony
between his views and those Of the commission
which arsurs well for the cooperation OF this
important body and the future Secretary Of the
Treasury.
The selection o. Mr. Reynolds would complete
-Ae Cabinet slate were it not for the fact that
NJ. Taft appears to have decided on change in
the head Of the War Department and probably
IN the head Of the Department of Agriculture.
Nothing Is as yet known here a TO his plans
for filing those places