Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-11-24
\ Strong Man Lost to The Cabinet

THE American people receive the announce
L ment of Mr.. McAdoo's resignation as Sec
tary OF the Treasury and drector-general OF
railroads with genuine regret. Although the
announcement comes as surprise, the rea-
sons stated by the secretary influencing
his action will be given full weight rs en-
fitting him to withdraw from the service of
the public to look after private interests
which have suffered from lack OF time to
give them oversight because of the exacting
duties OF his public position during the most
epochal period of the nations history. III
his devotion to these duties ne has demon
strated Il capacity for large affairs that has
not been exceeded by that of any man in
public life since the present administration
assumed the direction of the government.
Indeed, the tribute paid him by the Pres
dent upon accepting his resignation. that
the country has never had an ADLER. Il more
resourceful and yet prudent, Il more uni
tormy efficient Secretary of the Treasury"
put expresses the practically unanimous esti-
mate placed upon his services by that Gle
ment of the public which is in position TO
appreciate the stupendous responsibilities
thrust upon him, and which he has sue
cessfully met throughout the trying six-year
period that he has held office
Although without experience in public life
when called to his present position of high
trust, he had demonstrated a capacity for
achievement in graphing with big problems
connected with the economic life OF the coun-
try which easily marked him as man ex-
fraordlnarlly we'll equipped for comprehend
ing ana overcoming the larger problems of
wisely administering the powers OF Federal
government, SO necessary TO the promotion
OF the public welfare. Aside from the know
ledge gained by Mr. Wilson of Mr.. McAdoos
capacity and judgment while serving as vice
Of NJ,
mittee during his first campaign for the pres
idency his favorable opinion was enhanced
by the general estimate placed upon him in
financial circles in which his demonstrated
ability had secured for him steady rise to
commanding influence. Hence when the
PRESIDENTS choice rested upon him for Sec
rotary of the Treasury, that choice was gen.
orally acclaimed by the well-informed pub
lie as wise one.
Time and the heavier responsibilities thrust
upon the office by the world war and
Americas participation in it have proved
the wisdom of his choice Not only did
Mr. McAdoo address himself to his new
duties with a grasp of knowledge of funda-
mental principles of sound public finance
that showed his mastery of the subject but
IN the application OF this knowledge to
details making for the sterilization, broader
foundation and greater security OF the cOun-
try's financial system he showed aptitude that
forthwith won for him general recognition as
a safe trustee Of the public interests in the
governments financial undertakings The
President came to rely more and more on his
advice and Judgment on affairs which ranged
outside the Treasury, finding in him tower
of strength in supporting the burdens of his
own position.
While the attention oc the general public
has viewed Mr.. McAdoo more in connection
with his activities in relation to the bond
issues, taxation and administration of the rail-
roads. he will be remembered for all time
as leading builder of the Federal reserve
system. advocate Of n great governmental built
merchant marine, developer of the Federal
farm loan system and for his intelligent eff
forts to promote closer commercial and finan-
cial relations between the United States and
Latin-American countries