The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1918-11-23
M'ADOO'S STEP
GIVES SURPRISE
Little Speculation as Yet as to
Successor or Successors
to Offices.
WILSON TO FILL VACANCY
Fourth in Six Years ofAdmin.
istration-May Go Out
side Cabinet. ~-

| Washington. Nox. 2S.--Giving ne
| cessity for 'replenishing his personal
| fortune as a reason, William q. Nc
Adoo has resigned as secretary OF
the treasury and director-genera oil
railroads. His resignation has beer
7 accepted by President Wilson.
As secretary Of the treasury Mr.
! McAdoo will retire as soon as sue
cessor has been chosen and has quail
, flied. He will relinquish his position
as head of the government
railroads Jan. ], ,'unless a director
has not then been selected.
The resignation of Mr.. McAdoo,
| which he himself announced at a
conference with newspaper corre-
spondents late yesterday, was en-
tirely unexpected in Washington
After making the announcement Mr..
McAdoo made public his letter OF
resignation to the president, bearing
the date Of Nov. IA. and the latter
letter of acceptance. Saying he had
country was at war, Mr., McAdoo
wrote the president that "the inado-
quate compensation allowed by law to
cabinet officers ana the very burden
some cost of living In Washington
have so depleted my personal re-
sources that I am Obliged to reckon
with the fActs Of the situation :
While erSphailsihg that he has not
| GlalEoEN1 any Actual 3mpajrmAut aof
heaith, NJ 0atd he 64eded - reason
able p:siod e gsapins rest to replen-
Neither in his letter to the presi-
dent nor in his statement to news
paper correspondents announcing his
resignation did Mr.. McAdoo outline
his plans for the future, but 1t is un-
derstood he intends to take a vaca-
tion of several months before return
ing to business, probably the prac-
tice, of law.
Mentioned for Office.
BY the resignation, President. Will
son, for the fourth time In the nearly
six years OF his term Of office, Is
faced with the necessity of filling a
vacancy in his cabinet. The resigna-
tion of Mr.. McAdoo took official
Washington so completely by sur
prise that even today there was little
speculation as to his successor or
successors. 1t is not known whether
the president will I'LL separately the
offices of secretary of the treasury
and director- general Of railroads. In
some quarters, it was thought today
that the. president might decide to
make some other member Of the cab
met head OF the nations railroad sys-
tenn. In such an event 1t was con-
sidered likely the place would go to
Secretary of War. Baker, Postmaster
General Burleson' or Secretary Of the
Interior Lane. Should the president
decide to go outside his cabinet for
u director-general, the name of
Walker ID. Hines, assistant director
general and chairman OF the board Of
directors of the Santa Fe, was mem
tioned.F For the treasury secretary
ship the names Of John Shelton Will
liams,s comptroller Of the currency;
w. fP, G. Harding. governor of the
federal reserve board: Russell G.
Leffingwell, assistant secretary of the,
treasury, and Paul Warburg, for
merly a member of the, reserve board
and New York banker, were men
toned today.
Tasks Of Magnitude.
Tasks Of considerable magnitude
will face Mr.. McAdoo's successor as
secretary of the treasury. Probably
two more liberty loans will have to
be raised, the nation financed through
the reconstruction period, and, the
revision of revenues arranged and the
increased taxes collected. The new
secretary also will be called upon to
recommend to the president for ap-
pointment a new member Of the fed
eral reserve board to succeed Fred
eric A. Delano, who recently resigned.
Previous to announcing his resig-
nation yesterday, Mr.. McAdoo stated
specifically that he had no thought
Of going to Europe, which was taken
as meaning he would not be one Of
the American delegates to the peace
conference.