The daily banner. (Cambridge, Md.) 1897-2008, 1918-11-23
M'AD0O RESIGNS
FROM CABINET
Quits as Secretary Of Treasury
and R. R. Chief.
COMMENDED BY PRESIDENT
Secretary Will Rest For Ihree
Months and Then Plans to Rebuild
His Fortune.

washington, Nov. 23.-William Il.
McAdoo has resigned office as Secte-
tarv of the treasury and director gem
eral of railroads, to leave the treasury
on the appointment OF successor ana
the railroad administration on Janu-
AIRY l next.
II was announced that lie had ask
ed President Wilson to relieve nm
now that the war is over, SO That
ne might return to private business
after six years in office. The presl-
dent accepted the resignation.
Mr.. McAdoo announced his reSlgna-
tion at a conference with newspaper
correspondents and made public the
CORRESPONDENCE between himself ana
President Wilson.
Retirement was made necessary, Mr.
McAdoo said, because of inadequate
COMPENSATION allowed cabinet ofhc-
ers. The secretary also explained
that he is seriously in need of rest,
although there is no actual impair
ment of his health. He may rest for
three months and then resume the
practise of law in New York.
The president in his letter OF ac-
ceptance expressed regret at the sec
retary's resignation, referring partic-
ularly to Mr.. McAdoo's distinguished
dsinterested and altogether admirable
service rendered the country in both
posts"
Mr.. McAdoo explained to the cor
respondents that he had intended to
resign before March 4. 1917. but re-
mained because of pressing war prob
lens
As vet there is no suggestion as to
Mr.. McAdoo's successor, either as Sec
rotary of the treasury or as director
general.
Mr.. McAdoo's letter Of resignation.
dated November IA, follows:
Dear Mr.. President:
'Now that an armistice has been
signed and peace is assured, | feel at
liberty to advise you of my desire to
return. as soon as possible. 10 private
life.
Il have been conscious for some
time of the necessity for this step,
but, of course, 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 to cabinet officers Gas you
know l receive no compensation as
director general of railroads) and the
very burdensome cost of living in
Washington have so depleted my per-
sonal resources that I am obliged to
reckon with the facts of the situa-
ton.
81 do not wish to convey the impress
sion that there is any actual impair
ment Of my health, because such is
not the fact. As a result of long over
work, / need a reasonable period Of
genuine rest to replenish my energy.
But more than this, I must, for the
sake of my family, get back TO private
life to relieve my personal fortune.
II can not secure the required rest
nor the opportunity to look after my
long neglected private affairs, unless
I am relieved Of my present RESPONSE
bilities.
81 am anxious to have my retire
ment effected with the least possible
inconvenience to yourself and TO the
public service, but it would, | think,
he wise to accept my resignation now,
as secretary Of the treasury to become
effective upon the appointment and
qualification Of my successor, so that
he may have the opportunity and ad
vantage of participating promptly in
the formulation of policies that
should govern the future work of the
treasury. I would suggest that my
resignation as director general of rail-
roads become effective January 1,
1919, or upon the appointment of my
successor.
81 hope you will understand my dear
Mr. President, that will permit moth
ing hut the most imperious demands
to force my withdrawal from public
life. Always I shall cherish as the
greatest honor Of my career the op-
portunity you have so generously Civ
en- me TO serve the country under your
leadership in these epochal times.
"Affectionately yours,
"W. G. McADOO."