South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-11-24

X tary Of the treasury. director general of rail
- roads. etc. takes from the presidents cabinet
ore OF his most valuable assistants. The treasury de-
Dartment is one department Of the government that
has been managed so vel as to have escaped. in com
parative extent AZ least even the criticism Of the ad-
ministration's enemies. The secretarys retirement APP
pears to have been forced from the combined angles
OF over-Work and under-pay; a combination that more
than occasionally results. perhaps not as frequently
IT, public life. as in private life, but frequently enough
in either.
Il was pretty generally expected that the secretary
would retire at the beginning of the Wilson second
administration. as already his personal fortunes had
suffered TO an extent that he felt unable 20 carry it.
That he should have stayed, on account of the war.
cooperating with his chief, and taking on the additional
responsibilities Of federal control Of tho railroads, eX-
press companies. war risk insurance. etc, hardly dream
cd OF in pre-war days. It is pretty evident that during
the near two years Of his Sc cond term, already put
in. he has pretty near served the whole four after all.
The country can u-anord to lose his genius at this
time. but certainly can better afford it now that ever
before since he entered the office. Much credit is due
him. even during the first Wilson administration for
the efficient manner, for one instance, in which ne
guided the federal reserve banking system through its
formative days. today proving its worth, ana staying
with L to witness it's adoption and approval by so
many Of it's early enemies. Under his direction. the
federal reserve system has proved its soundness, and
that the bankers Of New York, and Of the nation. are
not Of necessity the acme or sum-total of financial
wisdom.
Establishment OF a department OF war risk insur-
snce was another giant task undertaken, this by the
war administration under the jurisdiction of Sec'y Nc
Adoo. or course. all the big. old line insurance COM
panies were against it. and much was done not only
to hinder the congressional authorization Of the de-
partment but TO bungle its operation. When the sec
Rotary asked for old line actIaries 10 assist him. they
came. yes. and the best in the country. but evidently
always intent upon serving their former employers
nrst. Sec'y McAdoo finally turned his back upon the
old line insurance actuaries quite entirely. placed fra
ternaI actuaries I'm their place. and directing their
course. the war risk insurance became an immediate
success. What it might have been. had the war lasted
for years. is of course only conjecture now, but OBJ
servers think It probable that the old line insurance
men would have learned from it much the same lesson
as the bankers learned from the federal reserve system;
that there is such a thing as wisdom outside of their
school
The taking over Of the railroads Of the country.
and consolidating them into one gigantic system, for
the purposes of the war. was perhaps the biggest
task OF all 10 come to the secretary. Quite evidently
the president regarded his genius. energy and vitality.
unlimited-and maybe he thought so too, under the
pressure Of war. and the exigencies of the times. Any
how. he did what was left to him to do, and almost
immediately the sidetracks began to clear, and freight
began TO move. as it had never moved before. The
key 10 Sec'y NIcAdoo's success in all these enterprises,
appears TO have been his power Of decision, and the
decision once made. the energy and push necessary
o put 1t through. No man, perhaps in the whole war,
scarcely excepting the president himself, has been a
buster man. or carried larger responsibilities. doing
-verything on am enormous scale. than the secretary o.
The treasury.
This is the third change in the presidents cabin5-
since ne entered Office i'm 1918: Bryan. secretary Of
state. giving way TO Lansing. and Garrison. secretary Of
war. giving way to Baker. Who will be Mr.. McAdoo's
successor is. OF course. a problem. Few presidents.
however. have held the office six successive years wit,
few cabinet changes. and particularly through such
t-nes as the nation has faced during the past two
Years. I'm fact. we have never seen such times. saw
nothing of the walls OF opposing wrath that has always
.ecn pouring in upon the government officials. Secy
HcAdoo has STAYED through the storm. and notwith-
standing the long list Of his able predecessors in the
nice. he will go down in history as one of the ablest
IN the line.
The manner I'm which he has engineered the fuancing
,f the war. through four Liberty bond campaigns, the
Thrift and War Savings stamp sales. and the levying
md collection OF. the war excess taxes, will give him
that distinction alone. Gauging his multitarfous respon-
-ibniIes. indeed. by those OF mis- predecessors. their jobs
nave been as chld's play in comparison. The Opportun-
It's has been his and he has not shirked it. That the
war over. a reaction should be feared, as the nervous
ension Ioosens. only evidences his sense of his imita-
ions. A grateful nation can well anord 10 accept the
-ecretary's resignation, as the president has accepted
t. wishing him God-speed. and the long life and good
fortune. following his needed rest, to which his splendid
.ervice entities him.