Pine Bluff daily graphic., 1918-11-23
Four days after the European war

FOur QdyB aIIeT LHe LuiopcdH "di started, MT. McAdoo asked and ob- tained special legislation to permit is- suance of half billion dollars Of emergency currency through national banks to tide the nation over this critical ptriod. He also recommend ed enactment of the measure per mitting the government to write war risk insurance on ships and cargoes and lives of seamen and the bureau administering this later took charge of paying allotment and allowances checks to dependents of soldiers and sailors, and the administration of government life insurance for these men.
 MT. McAdoo's ' department had charge of the collection of the four billions in taxes last ytar, and the raising of nearly eighteen billions in Liberty Bonds and war savings stams within the last nineteen months About eight billions in loans to al- lies have been distributed at his discretion since the United States entered the war. He was always the directing spirit of the capital issu- cs committee, the War Finance Cor operation and other war time treasury agencies.
 Nc. McAdoo also has three sons and three daughttrs by former marriage. The three sons are now serving in the navy.
 Washington, Nov. 22.-Wm. G.. McAdoo has resigned office as Secre- tary Treasury and Director General of Railroad Administration. It was an- relieve him now as the war was over so he might return to private busi- ness.
 Retirement was made necessary, Mir. McAdoo said, because of the "inade- quate compensation" allowed cabinet officers.
 The secretary also explained that he is seriously in need of rest, al- though there is no actual Impairment of his health.
 The secretary plans to take about three months rest and then may re- sume the practice of law in New York.
 Hr. McAdoo announced his resigna- tion at conference with newspaper and made public cor between himself and President Wilson.
 MT. McAdoo explained to the cor that he had intended to resign before March 4th, 1917, but re- mained because of pressing war prob lens.
 As yet there is no suggestion of who Mir. McAdoo's successor may be, eith- Nff fhn froo director general.
 The president in his letter of ac- ceptance expressed regret at the sec retary's resignation, referring parti- cularly to MT. McAdoo's distinguish ed, disinterested, and altogether ad- service rendered the country in both posts"
 Mir. McAdoo explained to the cor that he had absolutely no other reassn." than those specified in his letter for the retirement. He said he realized many varied rumors usually accompanied the resignation of all official but he emphasized again and again that he had no motive or purpose except those mentioned.
 He said he hated to quit the job" just at this time, and disliked person. ally to disassociate himself officially from the president, but added that necessities of providing a living for his wife and family make this impera- i've.
 A moment later, one correspondent 
 Well, it is too bad Mir. Secretary, hat as a railroad man. you could not nave shared the wage increase which you gave everyone else"
 Then for the first time Mr. McAdoo frightened and explained his reluct- ance to take the action. He said he had aot yet Hooked around for job, as IS most prudent men do before quit ing" but declared he felt like taking It least a three months rest before looking for work" He said he hoped o leave Washington soon after Jan lary 1st.
 MT. McAdoo said he had no idea who would be his successor or success sors."