Norwich bulletin., 1918-11-23

Gibbs McAdOO, secretary or the treas ury, divector- general of railraods and often discussed as one of the presi- dential possibilities of 1920 has re- signed his offices to return to private business.
 President Wilson has accepted his resignation Mir McAdoo will give up | the treasury portfolio as soon as a | successor has been selected. He | wished to lay down his work as di- rector general of railroads by Jan. 1st but will remain if the president has l not then chosen successor. Upon the new secretary of the treasury. whoever he may be. will de- volve the task of financing the nation through the transition period of war to peace. which probably will include at least two more Liberty loans and pos sibly also a further revision of the system of war taxation Letters between President Wilson and Mir. McAdoo, made public today with inc announcement of the resig- nation. give MT. McAdoo's reasons for leaving the cabinet solely as a neces- sity for replenishing his personal for tune 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:
 Mir. McAdCo's letter of resignation,
 
 dated November IA follows:
 Dear Mir President: Nov that an armistice has been signed and peace is assured, I feel at liberty to advise you of my desire to return as soon as possible. to private life.
 T have been conscious for some time of the necessity for this step, but, or course. T could not consider it while the country was at war.
 For almost six years I have work ed necessarily under the. pressure of great responsibilities. Their exactions have drawn heavily on my strength. The inadequate compensation allowed by law 10 cabinet officers Gas you know I receive no compcnsation as director general of railroads) and the Varr burdensome cost of living in Washington nave so depleted my per s0ual resources that I am obliged to reckon with the facts of tdc situation. "f do not wish tp convey the inn rressiOn that there is any actual inn rlirment of my health, because such ie not the fact. As a result of lone ccerwork T need reasonable period of genuine rest to replenish my ener-- rv. Put more than this, l must. for inc sake of my family, get back to private life, 10 retrieve inT personal fortune.
 'I cannot secure the required rest nor the opportunity to look after my present responsibilities.
 'I am anxious to have my retire ment effected with the least possible inconvenience to yourself Snd to the public service. but it would I think, be wise 10 accept my resignation now. as secretary of the treasury. to be- come effecstive upon the appointment and qualification of my successor, so that he may have the opportunity and advantage of participating promptly in the formulation of the policies that should govern the future work of the treasury. I would suEgcs7 that my resignation as director If railroads become effective Januarv 1919 or un0n the appointment of a successor. 'T hope you will know Icy dear Mir. President. that I permit nothing but the most .imnerious demands to force my withdrawal from public life AL -avs I shall cherish as the greatest h0nor of my career the opportunity you have so generously given me to re-ve tho country under your leader fhin in these epoch times.
 "Afectionately yours.
 "W. c. NCADOO."
 Tho presidents letter of acceptance d1'ed Nov 2f. follows:
 My Dear Mir. Secretary: was not dn0re0ared for vour letter of the 14tf feNtluTe YOU 1ad more thlI once. O1 course. discussed with TIC the cir cumstances which have long made il 9 serious personal sacrifice for you tC remain in cffice. I know that youl high sense of duty had kept you hert Untu ihe immediate tasks Of the wal should be over. But I am none tht loss distressed. I shall not allow oul intimate personal relations to deprive mo of the pleasure of fqving that il fI,- 6,r had an ahler, a more resourcefu1 ant yet prudent, 2 more uniformly efficient Secretary of the treasury. and I sa, this remembering all the able. devote, and distinguished men who precedet you. I have kept your letter a mum har of days, in order to e7Iggest, if could some other solution of you difficulty than the one you have fel obliged 10 resort to. But have no been able 10 think of any. I canno ask you tO make further sacrifices as the loss of the government will b in your retirement. ] accept your res icnation. therefore. to take effectiv upon the appointment of q successor because in lust cause to you mus
 q also accept your resignatip as director general of railroads to talk effect as you suggest, on the first c January next. ar when vour successo is appointed The whole world ad mires. I nm sure, as I Go. the ski and executive capacity with whicl you handled inc great and co,nple problem of the united aGm.nistratio Of tho railways under the stress ( war uses, and will regret. as I do, { see you leave that post just as tn crest of its difficulty Is passed.
 For tho diatinguished. disirterestet and altogether admirable service yo have rendered thc country in bot posts. and csUocially for the way i which ymi have ~uided tine treasur through ull lle Ternlexities and prot iems of transitional financial cond tions and Of tho financing of tho wa which has been without precedent alik in kind and in scope, I thank yo with 2 sense of gratitude that come from the very bottom of my heart.
 Gratefully and affectiouatelv yours.
 WOODROW. WILSON"
 Mir McAdco explained to the col respondents that he had eabsolutel no other reosons" than those spec fed in his lettrf for tho Tetiremen 1re said he realized many rumol usually accompanies the resignatio Of m official but he emphasized agai a--s s~air ttet hs had HaAti'sA