Evening star., 1921-04-10
SECRETARY MELLON ACTS ONLY
AFTER COMPLETE KNOWLEDGE

hoped would produce a headliner-
would he recommend a budget system
to Congress at the next session? .
don't think he will. but ! am not
sure. He did say. however. that while
1t is the business of Congress TO ini-
tiate taxation and fiscal Legislation,
1t is the duty of the Treasury Depart
ment to supply Congress with all the
facts that would indicate what sort
Of legislation is required. and that
he proposed to see that the informa-
ton was complete and accurate
E* x
In this statement Mr. Mellon dis
closed the keynote to his success az
business man and financier. 1t
has been the big. guiding principle
Of his life to act only when in pos
session of complete know,edge. He
doesn't know the meaning of snap
Judgment.
And here we have the real reason
back of his selection by President
Harding to be Secretary of the
Treasury. With the country spend
ing recklessly and menaced by an
evident indifference on the part of
the people in getting back to pre-
war habits of thrift, the President
sought for the nations fiscal leader
been built upon conservative lines
and who was trained to see the dan
gers that lurk in policies that do
not accord with sound business
principles.
His Judgment in selecting Mr.. Mel-'
Ion was vindicated almost immedi-
ately after the new Secretary had
taken Office. One of the latter's first
acts was to address A letter to bank
ing institutions throughout the coun-
q ~ %
Of the Treasury and stressing the
Importance of economy.
The nation cannot afford eXtrava-
gance and. SO far as possible. il must
expenditure" he said. "The people
generally must become more in
terested in saving the governments
money than in spending it. A thor
ough national budget system must
be established. and the governments
expenses brought into relation to its
income"
AS far as Mr.. Mellon is concerned.
the country can make up its mind
to one fact now: He is going to
formed as to government receipts
and expenditures, and before eY-
penditures reach the danger line he
will make a stir about 1t that VIII
be heard all over the land. He 10
mild-mannered man. hut he viii
not stand for foolhardy business
methods-not as long as he is the
intrusted custodian of Uncle Sans
strong box.
In informing the banks of the coDs
dition of our national finances and in
announcing his intention of keeping
Congress informed fully as 10 the
fiscal situation, Mr.. Mellon is but
,,la ha
president Of the Mellon National Bank
in Pittsburgh. This was to keep the
board of directors fully acquainted
with the affairs of the bank and to
insist that action taken should be
predicated upon a full knowledge OF
the facts involved.
Banks sometimes are disposed ia
act upon general Impressions or repu-
tationS" he said. 'On boards of di-
rectors, responsibility may be diff
fused. The only safe course is in
having full and dependable knowl-
edge of the facts in all matters calls
ing for action. Knowledge should be
obtained not only from statistics. but.
from the character and capacity oS
persons and institutions.
Mr. Mellon is not the speed marvel
that former Secretary McAdoo was
in disposing of work. He thinks eau
tiously, and proceeds cautiously in all
he does He acts only when he Is
euro of his facts and his position. But
once having reached a conclusion he
will stand by il.
He smoked several miniature Pitts
burgh stogies during our brief chat,
Rut smoking is a habit he INDUCES
in hut slightly His principal diver
sions are riding and playing golf
since taking up his duties in the
Treasury. Mr.. Mellon has been on tho
ioh nromptly at 9 o'clock every morn
ing. and usually is about the last man
TO leave the building. John Kelley,
who has served as private secretary
to all the Treasury heads from George
B. Cortelyou down. says that Mr..
Mellon has had but one predecessor
office who showed the same aptitude tl
for long hours. That man was Mr..
Cortelyou.
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