The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1918-11-23
MADOO SURRENDERS
POSTS TO RETRIEVE
PERSONAL FORTUNE
Son.in-law of President Resigns
After Six Strenuous Years as
Secretary Of Treasury and War
time Director General of Roads.

Washington. nov. William
'iIhhs AcAdou. secretary OF the treas
urN director general OF railroads and
often discussed as one of the presi-
dental possibilities OF 1920. has re-
.igned his offices To return 90 private
business.
President Wilson has accepted his
resignation. Mr.. McAdoo Will give up
the treasury portfolio as soon as "a
fucc"ssor has been selected. He wished
to las down his WORK as director gen
erai of railroads by January l. but
VIII remain II the president has not
then chosen q successor.
Upon the new secretary OF the treas
ury, whoever he may be. will devulve
the task OF financing the nation
through the transition period Of war
to peace. which probably Will include
as least two more Liberty Loans and
possibly also "A further revision OF sys-
TEN of war taxation.
Letters between President Wilson
ana Mr.. McAdoo. made public today
with the unce of the rosig-
nation. give Mr. McAdoo's reasons for
Leaving the cabinet solely as a ncccs-
sity FOR replenishing his personal for
tune and express tn" presidents deep
regret at losing his ~son-iu-law from
his official family,
Mr.. McAdoo's letter Of resignation.
dated November Il. follows.
Dear Mr.. president.
Sow that an armisticc has been
signed and peace is assured. / feel at
liberty 80 advise you OF nay desire to
return, ~, soon as possible, 10 private
life.
~ have been conscious for some
lime Of tho necessity for this step, hut.
ct course, I could no consider II while
tho country was az war.
For almost six years ] have work
cd incesuutly under the pressure af
great responsibilities. Their cXRctions
have drawn hcayily on my strength.
The Inadequate compensation allowed
by law 20 cabinet Officers cas- Sou
know receive no compensation a.
director general OF railroadsl and the
very burdcnsome cost Of living In
Washington have so depleted my per
sonal SQUIRE that ! am Obliged 10
reckon with the facts OF the situation.
Il do not wish 90 convey the i'm.
preston that there Is any actua inn
pairment of my health, because such
is not the fact, As a result 81 long
overwork ! need u reasonable period
of genuine rest 10 replenish my en-
orgy, Bu more than this, ] must, ~
tho sake OF my family, get back TO
private lie. To retrieve my personal
fortune.
II cannot secure the required rgst
nor the opportunity 20 look after my
long neglected private affairs until I
m relieved OF my present respons.-
Utilities.
~ am anxious to have my retire
ment effected with the least possible
Inconvenience 10 Yourself ana to tho
Iublic service. but n would, ! think, be
wise to accept my resignation now, as
secretary of the treasury, "a become
effective upon the appointment ant
qualification OF my successor 80 thrt
he may have the opportunity and ad-
vantage of participating promptly IN
the formulation Of the policies TINT
should govern the future work OF the
treasury. would suggest that HN.
resignation as director general ~
railroads. become effective January J.
1919. or upon the appointment of my
successor,
II hone yop viii understand. my
dear Mr.. President that ! viii permit
nothing but the most lmperious de-
mands TO force MSS withdrawal from
uuhllc life. Always ! shall cherish ~
ihA gseatese honor ~ my career tho
oppnrtunity YOU have 80 generously
given me to serve the country under