The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1918-11-27

Washington, Nov, 22.-Willian
Gibbs McAdoo, secretary Of the treas
ury, director general of railroads ane
often discussed as one Of the presi
Dental possibilities Of 1920, has re.
business.
President Wilson has accepted hi:
resignation. Mr.. McAdoo will give III
the treaury portfolio as soon as 6
successor has been selected. ,He
wished to lay down his work as direc
tor general of railroads by January
1, but will remain if the president
has not then chosen successor.
Upon the new secretary Of the
treasury, whoever he may be, vii
devoive the task of financing the ma
tion through the transition period OF
war to peace, which probably will In
clude at least two more Liberty loans
and possibly also a further revision OF
the system of war taxation.
Letters between President Wilson
and Mr.. McAdoo, made public today
with the announcement Of the resig-
nation, give Mr.. McAdoo's reasons for
leaving the cabinet solely as a neces-
sity for replenishing his personal
fortune and express the presidents
deep regret at losing his son-in-law
from his official family.
The following letters were made
public with the announcement:
Mr.. McAdoo's letter of resignation
dated November Il, follows:
Dear Mr.. President:
Now that: an armistice has beer
signed and peace is assured, I feel a.
liberty to advise ycu of my desire tc
return, as soon as possible. to pri-
vate life.
time for the necessity of this step,
but, of course, could not consider it
while the country was at war.
.For almost six years 7 have work
ed necessarily under the pressure Of
great responsibilities Their eXac-
tons have drawn heavily on my
strength. The Inadequate coapen-
sation allowed by law to cabinet Off
GERS 4(as you know I receive no COM
roads, and the very burdenson1e cost
oe living in Washington have so de-
pleted my personal resources that J
am obliged to reckon with the facts
Of the situation.
'I do not wish to convey the i'm
preston that there is any actual I'M
pair7nent OF my health, because such
is not the fact AS a result Of long
overwork I need a reasonable period
Of genuine rest to replenish my ener-
E. But more than this, ] must. for
the sake of my. family. get back tc
private life, to retrieve my personal
fortune.
''I can not secure the required rest
nor the opportunity to look after my
long neglected private affairs unless
I am relieved Of my present respon-
sibilities.
.-I am anxious to have my retire
ment effected with the least possible
: inconvenience to yourself and to the
public service, but it would. I think,
be wise to accept my resignation
now, as secretary Of the treasury. &c
become effective upon the appoint
ment and qualification Of my sue
cessor so that he may have the op-
portuaity and advantage Of partici-
pating promptly in the formulation OF
the policies that should govern the
future work of the treasury. I would
suggest that my resignation as direc-
tor general of railroads become ef-
fective January l, 1919, or upon the
appointment Of my successor
81 hope you will understand, my
dear Mr. President. that I will per-
nit nothing but the most imperious
from public life Always I shall
cherish as the greatest honor of my
career the opportunity you have SO
generously given me TO serve the
country under your leadership in
these epochal times.
'Afectionately yours,
'sW. G. McAdoo.''
The presidents letter of accept
ance dated November 21 follows:
'tAdy dear SIR. Secretary:
II was not unprepared for your let
ter Of the 14th, because you had more
than once, Of course. discussed with
me the circumstances which have
long made it a serious personal sac
rifce for you to remain in Office. !
knew that only your high and exact
ing sense of duty had kept you here
until the immediate task of the wal"
should be over. But I am none the
less distressed. I shall not allow our
intimate personal relations to deprive
me of the pleasure of saying that in
my judgment the country has never
had an abler. more resourceful and
yet prudent, more uniformly efti-
cient secretary Of the treasury: and !
say this remembering all the able.
devoted and distinguished men VINO
preceded you. have kept your letter
a number Of days. in order to suggest.
if I could. some other solution Of
your difficulty than the one you have
now felt obliged to resort to. But J
have not been able to think of any
I can not ask you to make further
sacrifices, serious as the loss to the
government will be in your retire
-~,ant accept vour resignation. th"te-
fore, to take effect upon the appoint
ment of successor, because in jus
tice to you must.