The Washington herald., 1918-12-27
THINKS CLASS
WILL SUCCEED
Holland Says New Secre-
tary Is Fitted for
Treasury Post.


returned to the United States Senate
after having served four years as Sec
retary OF the Treasury under Presi-
dent Hayes, he said that although he
knew what the organization Of the
Treasury Department was, having
had considerable part in the legisla-
ton which affected that department.
nevertheless he was at first not GER
tain that he would be able to admin
lister satisfactorily the department as
its executive head. He went on to say
that it often happens that a man who
possesses thorough knowledge of
principles and methods which char
acterize successful Corporation, bank
ing and railroad management, never
theless. when placed in executive au-
thority in any of these fields, speedily
discovers that 1t is one thing to be
an executive head OF the kind which
requires administrative ability and
another to be a master of the science
and principles under which great or
ganizations operate.
Mr.. Sherman found in the first year
Of his administration in the Treasury
Department that il was the wiser part
for him 10 take action with great
caution. Not until the beginning of
the second year OF his service as Sec
rotary of the Treasury was he sure
that he had a firm grip on executive
and administrative authority over the
department
Glass Meets Favor.
While the selection Of Carter Glass
as Secretary Of the Treasury has
been generally approved by leaders in
the world OF banking, nevertheless
they say that il remains to be discov-
cred whether he has executive capac-
ity equal to his profound knowledge OF
the principles Of finance and fiscal
administration. Whatever doubt
there may have been upon this point
seems to have been in part. removed
by Secretary Glass's first statement.
IN that statement he is spoken of as
having made it evident that he under
stands what the responsibilities Of
The department are and what the re-
lstion of the department is to be here
after when readjustmeHt and recon-
struction are under way. He realizes
That the people have learned. or part
iy at least, the lesson of thrift and
of Intelligent expenditure He is sure
that those who have bought Liberty
bonds should not sell them unless
there be dire necessity for raising
funds. And he understands the diff
Guilty with which the Treasury is con-
fronted due to the general relaxation
OF the people since the signing of the
armistice.
The former Secretary OF the Treas
ury. Mr.. McAdoo, who had no great eX-
perience-excepting that which came
10 him when constructing the Hud-
son tubes-in finance and hardly any
in executive management of financial
propositions, placed himself after the
war began in line with some of the
others who without experience never
theless gained fame as executives and
as the leaders in fiscal affairs. For
Mr.. McAdoo perfected one of the
greatest construction financial works
ever Sone. involving not only the un-
derstanding Of the enormous needs
which government would be COM
PEELED to meet to enable it to carry
on the war. the Treasury Department
after Congress appropriated the bill
lions which he asked for. Very like
ly not until the fifth Liberty loan is
subscribed-and also in the prepara
ton or floating that loan will Secre-
tary Glass have revealed executive
capacity of high order After the fifth
Liberty Loan is fioated he will have
other serious constructive and recon-
struction problems to solve and these
Will involve a high degree Of admins
trative ability.
Chase as Administrator.