Arizona republican., 1918-11-23

lRepupllCdn a. r. Leased WIrel
WASHINGTON, Nov. 22ZWilliam
Gibbs McAdoo, secretary of the treas
ury, director general of railroads ana
often discussed as one of the presiden-
tial possibilities of 1920, has resigned
his offices to return to private business.
President Wilson has accepted his
resignation. Mr. McAdoo Will give UP
the treasury portfolio as soon as a Sue
eeSSor has been selected He wished TO
lay down his work as director general
of railroads bv January l, put viii re-
main if the president has not then
chosen a successor.
Upon the new secretary OF the treas
ury, whoever he may be, will devoIve
the task of financing the nation through
the transition period of war to peace,
which probably will include at least
two more Liberty loans and possibly
also a further revision of the system of
war taxation.
Letters between President Wilson
and McAdoo, made public today with
the announcement of the resignation.
give Mr.. McAdoo's reasons for leaving
the cabinet solely as a necessity for re-
plenishing his personal fortune, and eX-
press the presidents deep regret at los
ing his Son-in law from his officfa
family.
Mr.. McAdoo explained to the CORE
spondents that he had absolutely no
other reasons" than those specified III
his letter of retirement. He said he
realized many varied rumors usually
accompanied the resignation of an Of
ficial, but he emphasized again ana
| agin that he had no motive or purpose
except those mentioned.
Hates to "Quit The Job"
IL l,A ofA1 70 q Intf
| just at this time, and disliked per-
sonally to disassociate himself officiaf-
ly from the president but added that
necessities of providing living for his
wife and family made this imperative.
| A moment later one correspondent
| suggested:
We'll, it is too bad. Mr. Secretary,
that as a railroad man, you could not
have shared in the wage increase whicn
you gave everyone else"
Then, for the first time, Mr.. McAdoo
frightened and explained his reluctance
| to take the action. He said he had not
yet looked around for JOB, as most
prudent men do before quitting" but
declared he felt like taking at least Il
| three months rest before looking ror
work" He said he hoped TO leave
i Washington soon after January :.
H..
would be his successor or successors. '
1t is entirely probable that the pres,
| ident may fill separately the offices or
secretary of the treasury and director
general of railroads. There was moth
| ing official tonight on which to base q
statement of who might be under con-
| sideration for secretary of the treasury.
On previous occasions, when a success
sor to Mr. McAdoo was discussed, john
Shelton Williams. comptroller of the
currency, and w. P. G. Harding, COVER
nor of the federal reserve board, have
most generally been mentioned. Paul
Warburg, formerly a member of the re-
serve board and prominent New York
banker. and Russell c. Lefrfngwell, as
sistant secretary of the areasury, also
are reckoned among the possibilities.
May Consider Cabinet Member
President Wilson is not required TO
choose the new director general of raii-
roads from among the cabinet mem
bers, and it is possible that the place
may go to some one associated with
Mr.. McAdoo in the railroad admins
tration. If the place should go to some
member of the cabinet Secretary Bak-
er of tie war department, Postmarte
General Burleson and Secretary Lane
of the interior department are likely to
be considered.
There was probability that the di-
rectorship might have gone to Mr.
Baker at the time the president decid-
ed to give it to Mr.. McAdoo. 1t was
thought that government operation oi
the railroads, as a war measure, was
closely connected with the military
program, but the president chose Mr.
McAdoo because of his knowledge OF
| y,rnh1or,c
Postmaster General Burleson al
ready is operating the telegraphs
telephone and cable lines, under gov.
ernment control. Secretary Lane is
intimately versed in transportation
problems. particularly railroads, ant
for years was a member, and at on,
time chairman, of the Interstate Com
merce commission.
Walter D. Hines, assistant director
Continued on PAGE Two)