Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1918-11-23
is FORCED BY
OF
OWN AFFAIRS
Resignation as Rail and
Treasury Head Accept
ed by President.

Cessity for replenishing his personal
fortune as reason, William o..
McAdoo has resigned as secretary
of the treasury and director gen
eral Of the railroads. His resigua-
tion has been accepted by President
Wilson.
As secretary OF the treasury Mr.
MCAdOo will retire as soon as a
successor has been chosen and has
qualified. He will relinquish his
position as head Of the government
controlled railroads Jan. i. unless
a successor has not been selected.
Mr. McAdoO did not outline his
plans for the future. but it is un-
derstood he intends to take a vacI-
tion Of several months before re-
turning to business, probably the
practice OF law.
Is Complete Surprise.
The resignation OF Mr.. McAd0o
took official Washington so com
pletely by surprise that even today
there was little speculation as TO
his successor or successors. in
some quarters it was thought to-
day that the president may decide
to make some other member OF the
cabinet head of the railroad sys-
TEN. In such an event it was con
sidered likely that place would 20
TO Secretary of War Baker, Post
master General BuTlescn or Sccre-
tary Of the Interior Lane. Should
the president decide 10 go outside
his cabinet for a director general
%
sistant director general and chair
man of the board Of directors OF the
Santa-Fe, was mentioned.
Likely Successors.
For the treasury secretaryship
the names Of John Skelton Vii
liams, comptroller OF the currencv;
W. r. G. Harding, governor Of the
federal reserve board; Russell g..
Lehngwell, assistant secretary or
treasury, and Paul Warburg, for
merly member of the representa-
tive board and New York banker.
were mentioned.
Mr.. McAdoo said he had no idea
, who his successor might be, and
added that he would make no rec
concentrations 10 the president.
No Change Expected.
Regardless of the appointment
10 the treasury post, it is consider
ed improbable that there will Ue
any great change in future fiscal
policies of the government War
bonds of short maturiues. to tho
sum Of about eight billions, prob
ably viii be floated in 1919 as plan
ned by Mr. McAdoo and his treasury
advisors. Before he leaves tns
treasury Mr McAdoO viii prepare
resolutions to congress for legisIa-
tiOn to change the war finance cor
pOratiOn into a peace finance c1r-
poration," as he has suggested.
thereby permitting it to finance u-
dustries during the readjustmaut
period. The future Of the capital
issues committee is uncertain and
the attitude of Mr.. MCAdoo's SD
cessor may have much to do with
its course.
Issue On Roads Control
AS for the railroads, the new d'-
Encouragement doubtlessly wild
have much 10 do with the formu
tion OF policies for future mana
ment Mr.. McAdoo recently iU..-
Gated that he had planned to cH1-
tiuue consultations. pooling, short
hauling and other forms looking La
efficient operation, regardless o..
the fact that the war emergency a
over. Opposition TO this cour n
seems TO be developing and an isu
in which railroads are to remain
permanently under government ..-
rection and even government owa-
ership or to be returned shortly to
their private owners, is taking
form. This issue is the principl.
legacy which Mr. McAdoo will lcaF e
10 his successor.
Others to Quitl.
The resignation Of Secretary Me
Adoo as head OF the treasury and
director general of railroads st.u
ulated today speculation as TO tho
probable order OF going Of variuua
wartime officials who are anXi0u
20 get back 10 private busine
Bernard NJ Baruch, chairman of tho
war industries board, recently rE-
pressed a desire 20 quit as soon s
President Wilson would agree. ard
II has been rumOred that Char. .E
Schwab wanted 70 resign as diror-
tor general Of the emergency q 3
corporation when this could Me
done without disrupting the organ
ization.
Four Others Gone.
Many other industrial leade-.
called 20 Washington for the W. p
emergency, are becoming restHe
now that fighting has been conclu1-
ed Among the officials recen nty
resigned are John ID. Ryan. as o.
ant secretary of war. and director
Of the air service: William c. Po.-
ter. his assistant. and Frank p
Walsh. Joint chairmeR of the war
labor board.
MISSION ARRIVES.