The Birmingham age-herald., 1917-05-24
M'ADOOS SPEAKING TOUR
By HOLLAND

New York, May 23.-(Special)-No sec retary of the treasury until the adminis- tration of Secretary William G. McAdoo ever appeared before the American people as soliciting agent in behalf of an of- fer by the United States government of an issue of bonds. Today there are liv- ing three or four who recall the several visits of Salmon P. Chase to New York at the beginning of President Lincoln's administration. Secretary Chase came to New York so that he might persuade bankers to buy government bonds. He did thus persuade them to buy upon three separate occasions $50 100000 in bonds, but the last purchase was in part due to his implied threat that unless the bankers helped the treasury he, as Sec retary of the Treasury, would issue pa per money in such amounts that in time it would take a thousand dollars to buy a breakfast.
 In the second administration of Presi- dent Cleveland, John G. Carlisle visited New York three times so that he might persuade bankers to buy bonds and pay for them in gold wherewith the treasury
  be replenished
 These, however, were campaigns made by secretaries of the treasury with bank CTS and not with the public. They en- tailed no more travel than a trip from Washington to New York and then a re- turn trip. But MT. McAdoo has set a new precedent and it is new because the conditios are new and because he believes that a campaign of education involving real soliciting is necessary in order to persuade the people that they should come forward with abundant offerings for the so-called liberty loan of 5000 000,- : 900.
 Secretary McAdoo's predecessors so- licited the bankers of New York, Phila- delphia and Boston because the treasury was depleted and they did this at time when business prosperity was greatly impaired and when there was no confi- dence among the people. Secretary Me Adoo has gone forth at a time when business prosperity is of unprecedented volume, when money is very plentiful, when wages are high and when the de- mand for labor is in excess of supply and when deposits in banks-whether na- tional or state chartered-are in the ag- gregate-of stupendous amounts.
 A CAMPAIGN OF COOPERATION
 
 is now making is in full co-operat tion with the men of great financing influence in the United States and with many of the leading men of our industrial life. We are to have cooperation from the Atlantic to the Pacific and from the Gulf of Mexico to the Canadian boundary, upon far greater scale than any CO., operative effort has attained hitherto. This was a remark made by one of the leaders in the financial district this morn- ing when calling attention to the fact that the Secretary of the Treasury, the president of the greatest of American banks and a partner in the house of J. F. Morgan &5 Co.,, are, with others who are of great authority but who are not perhaps so well known to the public now conducting q campaign of education with intent so thoroughly to inform the people that they will not reluctantly but with enthusiasm subscribe to the liberty loan.
 DIFFERENT POINTS OF VIEW
 Secretary McAdoo in his early addresses in the midwest dwelt especially upon the