Columbus daily courier., 1920-06-30
SKETCHES Of M'ADOO,
cox, PALMER AND
OTHERS


lConilnued from Page 4. Column n
a pro,essorship ID the University uf|
Tennessee. The hoy enrolled ~ a
student, bul he left school before he
wa1 graduated 70 earn his nwn liv'
ing. AZ lS years Old hc was appoint.
81 deputy CLERK ci lhc United alatc.
circuit al CHATTANOOGA Ieuna and
while IN that position ne studied law
with Judge William n Dewitt md
Al 22 he vas admitted % the bar.
Pcnnilcss IN Nsw York,
IN 1872, after practising law and
managing d street railway line IN
Knoxville, McAdOO went 10 New
York. unknown and virtually PENN.
less, 10 begin the practice oi law.
Ten years later he lcfl The law to
ullempl the construction Of the
Tubes. and from 1909 until 1912 he
was president OF the Hudson and
Manhattan Railroad Company. which
eventually eucceodnd in driving the
tunnels throueh 20 ihe Jersey shore.
McAduos struggle 10 construct the
tubes hristlos with human interest
In addition 10 being without means
Of his own 10 put the tubes through
and knowing but few men OF wealth.
he was handicapped IN his efforts by
the fact that previous attempts 10
construct the tubes had been abicci
failures. McAdoo's first step was 10
interest the capitalist who had been
the heaviest loacr by The previous
tube failure. Once MrAdoos initial
tube collapsed. And when " finally
was driven through 10 the Jersey
share and McAdoO had been The first
man 10 walk through A. there was
long and hitter but futile fight
on the project. When McAdoo left
the presidency Of the company IN
1912 10 enter President Wilson's cab.
met ns secretary Of the treasury. the
companys investment represented
S70.O00OOO, all raised from private
sources, and u was operating three
tunnels.
Got the Political Bee.
Until 1911. when McAdoo became
Interested M the candidacy of Wood
row Wilson. he had taken no active
part In politics and he scarcely knew
The future president. They had met
once at Princeton while one Of Nc.
nl'N nNNH WI" VI NlIUNi iIIfIfs NNI
that was all. McAdoo soon became
a siaunch advocate Of Mr.. Wilson,
however. and as a delegate 10 the
Baltimore convention acted ns one
Of the Wilson managers on the floor
Later he was made vice chairman oi
the National Democratic Committee
and when In 1912 Chairman Me
COmbc retired. McAdoO look active
aIt ~ NNFtI....
The ensuing five years which Ne
Adoo spent IN the cabinet were busy
ONES. lie becamr. IN word, the
handy man" Of the administration
and many heavy responsibilities
were placed upon him AZ ono time
he occupied the positions Of Secre
iary nf the Treasury. chairman of
the Federal Reserve board. chair
man of the Farm Loan hoard chair
man 0f ihe War Finance cOrnnrn
lion. chairman Of The international
High Commission, and director gen
eral Of railroads.
Dayton (Ohlo) Crisis.
Serious financial problems aros,
shortly after McAdOO became Sccre
tary Of the Treasury. and he wa'
called upon 10 make many quick ant
important decisions. Scarcely ha,
he taken office when destructive
flood swept Dayton. Ohio. and bank
ers there leleRraphed him that fcal
OF a "run" on their institutions mnd'
them hesitate 10 open their doors
McAdoo teleRraphed IN reply that h'
would Immediately send S2.OOO,O 900 Il
the banks, aud when this word be
came public the run did not ma
lerialile. when general panii
threatened In June, 1913. he an
n0itnced that he would make avail
able e50O.OOO.0OO In government
funds TO all hanks that would appl,
for u and comply with The law II
obtaining a loan Two months later
when there was shortage of none!
10 move crops. McAdOo dcposile'
S3b.OO0OO0 In Central Western an'
southwestern hanks with the under
standing that II would be loaned Il
farmers at reasonable rates of inter
est. AZ The outbreak ~ the Euro
pean war. he sent the cruiser Ten
nessee Ia Europe with Si.B00OO0 I,
gold for the relief Of Americans dc
string IN return home. Eleven thou
sand five hundred persons took ad
vantage of the opportunity IA hOf
row from the government Whel
the war depressed the cotton mpl
Lal ts. ma MnAhs.. s4ntaa.I .Inn AIlu