The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1918-11-23
TREASURY
HEAD HAS
RESIGNED
Secretary McAdoo Gives as
Reason That He Must Go
to Work to Make
Money.
RUMoRs ARISE
Successor Probably Named BY Presi-
dent Wilson Before His De-
parture on Trip TO
Europe.
MANY RUMoRs ARISE

UNITED PreDs Leased Wire Service.1
WASHINGTON. Nov. 23.-Secre-
tary McAdoo himself and his closest
friends stood pat today on his origi-
nal declaration that he 10 leaving the
treasury and railroad posts for just
the reason he stated-and for that
alone-to retrieve his fortune.
Resigning these two important
posts, McAdoo declared late yestar-
day he needed to get to private life
to make sufficient money for family
needs. He pointed out that his en-
ergy was drained though his health
has not fully broken.
There was crop OF rumors to
explain" his going.
The first was that there had been
split with the president as there
was in the case OF exSecretary OF
State Bryan and exSecretary of War
Garrison The presidents letter Of
acceptance, and the statements of
McAdoo's friends, however. did not
bear out this theory as most authori-
ties here saw 1t.
Secondly, there was speculation
that the presidency in 1920 had an
influence in McAdoo's direction.
Some thought MoAdoo was skep-
tical of being a successful candidate
in 1920 inasmuch as his continuance
in office might be attended by po-
litioal differences with the opposition
party next year over railroads and
appropriations.
On the other hand, some believed
that McAdoo felt that by avoiding
these differences he could appear in
1920 as a government control advo-
cate and be swept into office on that
plank and his past record.
The general thought was, however,
that McAdoo has quit public life as
he said. There were those who be-
lieve this, who were inclined to
think McAdoo had drawn an adverse
decision as to his personal prospects
in 1920 from the republican victory
in the last election.
Coupled with speculation over
what might have been background
reasons for his sudden remarkable
decision, was talk of who would sue
ceed McAdoo. Bernard Baruch, Car
ter Glass of Virginia and Assistant
Secretary Laffingwell were men
toned as prospects for the treasury
post Baruch was also prominently
discussed as railroad administer,
while there was considerable thought
that the railroads might be placed
under Secretary of the Interior Lane
and the interior department.
McAdoo did not acquaint his Inn
mediate associates Of his purposes
until late yesterday afternoon,
short time before he called In the
press to announce his resignation
and it's acceptance. He gave out cor
respondence which said the need for
more money than cabinet pos.
yields influenced his going.
President Wilson answered that he
regretfully accepted, at the same
time highly praising the secretary's
f. thfulness and ability.
McAdoo did not claim to be b:okcn
in health, though he did suggest he
is much in need Of q rest. 1t was re-
called today that he spent some time
90 i western ranch recently because
Of Il throat trouble which was mainly
s,;s sr induced by overwork-
President Wilson probably will
name his successor before departing
for Europe. Incidentally. the ques-
tion of permanent governm ent con-
troll of railroads is destined to arise
soon. McAdoo Is known to have IA
yored indefinite continuation OF such
not actual ownership.
Now, railroad security holders are
to test out this situation
and to force return of lines to pri-
yate ownership. McAdoo, it wls
pointed out, would have had to take
a definite stand soon on this or':b-
lem.
Off on Inspection Trip.
WASHINGTON, Nov. 23.-McAdoo
will leave Washington tonight for