Evening star., 1918-11-23
Mr.. M'ADOOQU|TS
AS TREASURY CHIEF
ANDRA|LROADHEAD
Necessity for RepIenishing
Personal Fortune Given as
Reason for Retiring.
MANY ARE MENTIONED
TO TAKE UP HIS WORK

Giving necessity for replenishing
his personal fortune as reason, Will
| liam G. McAdoo has resigned as Sec
! retary of the Treasury and director
| general of railroads. His resignation
has been accepted by President Will
| son.
| AS Secretary of the Treasury, Mr.
McAdoo will retire as soon as a sue
cessor has been chosen and has quail
fed. He will relinquish his positio1
as head of the. .government-centroll
| railroads January 1, unless director
has not then been selected.
| Following the announcement by
Secretary McAdoo of his resignation
Of the Treasury portfolio, the director
generalship of railways and the nu-
merous ex-officio positions he holds.
! the impression gained ground in Off
| cial circles today that President Will
son, in naming his successor, will
from the bailiwick of the head Of the
| treasury department.
Gossip Over Succession.
! Gossip today over the succession to
| these offices was prolific, but not con-
vincing. Distinguished names were
cast up, playing in the light of dis
| cussion like a ball on a fountain jet,
! to drop back. 1t was finally con-
cluded that the President, in his wis.,
dom, is probably the only man who
I 1-,~ -Io.> -, - H. A4l ,S,I !,
has not spoken. 1t is assumed that
| with foreknowledge long time of Sec
retary McAdoo's intention, and having
| in mind his own absence from this
country, the President has given
| thought to the choice of a successor
gress reconvenes December 2.
When Secretary McAdoo reached
| his Office today he found it piled high
with personal kilograms from friends
on his resignation. He leaves Wash
| ington tonight for an inspection trip
! of southern railways, planned more
| than a week ago. He will proceed as
far south as New Orleans. returning
| in time to bid the President goodbye
when the latter sails for France.
Policy Changes Unlikely.
Regardless of the appointment to
\ W. AAAA
| probable that there will be any great
| change in future fiscal policies of the
government War bonds of short
maturities, to the sum Of about $S, ,00O,-
100000. probably will be hoated in
1918 as planned by Mr.. McAdoo and
his Treasury advisers. Before he
leaves the Treasury Mr.. McAdoo will
prepare recommendations to Congress
(! for legislation to change the War
Finance Corporation into a Peace
/ gested, thereby permitting it to fl
nance industries during the readjust-
ment period. The future of the Capt.
tai Issues Committee is uncertain. and
the attitude of Mr.. McAdoo's sue
! cessor may have much to do with its
| course.
AS for the railroads. the new di-
rector general doubtless will have
much to do with the formulation of
| policies for future management. Mr..
| planned to continue consultations.
| pooling. short hauling and other re-
/ forms looking to efficient operation,
/ regardless of the fact that the war
emergency is over. Opposition to this
! course now appears to be developing,
are to remain permanently under gov
| ernment direction and even gov
! ernment ownership. or be returned
shortly to their private owners. is
! taxing 1OrIn. InlS issue Is a principal
! legacy, which Mr.. McAdoo will leave
| to his successor.
! Mr.. McAdoo is known to have under
! consideration the formulation of a
statement of his individual attitude
on what should be the nations policy
| toward permanent government man.
agement or ownership. His friends
say he leans toward the view that
| the government should own the rail-
roads, but this had not been con-
| firmed by his own public statements
Names Mentioned.
| Some of the names banded about
among the gossips today for the
| Treasury portfolio were Gov Harding
| Of the Federal Reserve Board, John
| Skelton Williams. controller Of the
currency; Assistant Secretary of the
| Treasury Lef1ngwell and Crosby,
Secretary Baker, Secretary Houston,
Bernard Baruch. and Representative
| Sherley Of Kentucky. chairman Of ap-
| preparations committee.
For the post OF director general Of
railways. II 1t should be separated
from tho Treasury. the gossips sug-
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