Milford chronicle., 1921-03-18
UNCLE TED'S
BEDTIME STORIES
ANDREW w. MELLON OUR NEW
SECRETARY OF THE TREASURY

SECREIARH OF THE TREASURY
"Oh!! Uncle Ted, Uncle Ted" call
ed Jack, just as his Uncle was start
ing to leave the house: please tell
us another story tonight. You prom
ised last night you would"
Jack, you're the greatest tease ]
ever knew in my life" called Uncle
Ted. Il was going to a church meet
ing"
'But it won't take long" spoke up
Ruth, "and anyway we have to go to
bed early"
By this time Uncle Ted had turned
around and started up the steps. "All
right, he said as he came through the
front door. eff tell you anther story
tonight you must get off to school on
time tomorrow. Your mother tells me
you have been late a great many
times lately.
1--WE promise!" came the answer
from both Ruth and Jack.
WELL" began Uncle Ted, "last week
I told you something about our new
Secretary of State, Charles Evans
Hughes. How would you like to hear
something about the man who heads
the big money department of the gov
ernment, the new Secretary of the
Treasury"
Fine" spoke up Jack. 81 hope he
knows all about money cause there
must be a lot of it in the Treasury"
"There'e not as much there as there
was before the old administration
started making big loans to about ev-
cry foreign country that asked for
money. Those loans were made on
the theory that they would be used
by the borrowers in their war against
Germany, but about $2,000,000,000 of
them were handed out after the ar
mistice had been signed and the fight
ing had stopped. So there isn't as
ity, who has been so kind to her and
much money in our Treasury as there
should be. It will be one of Mr.. Mel
Ions first duties to arrange for the
return of those big loans, and I feel
sure after he has been in Office short
time the money will begin coming
back to us.
you know, I think a man who
holds the big position of Secretary of
the Treasury should be a man who
knows how to handle large sums; a
man who has had plenty of money to
handle and one with keen business
head. No ordinary man can possi-
bly, run the Treasury without getting
it into an awful mess. But our new
man in that job, the man picked by
President Harding, is one of the rich
est men in Pennsylvania and is one
of the fifty wealthiest men in the
country. Of course, that alone doesn't
mean he is a great man at all. That
cfr oh fbaf tho hoT
of large sums of money is not some !
thing new for him. He is not what
we know as a politician. He is a
plain, easily approached man who is
leaving his banking interests and his
many other big connections to take
up a big work for his country where
his special training can be used to it's
best advantage. I have talked to Mr..
Mellon, and 1 can tell you that new
er hope to talk to a more sincere and |
earnest citizen. He is as easy to ap- |
proach as your father.
''Mr Mellon was born at Pittsburgh, |
Pa, where he still makes his home
and where he runs bank started by
his father, not to mention several
banks in various parts of the state /
He was educated at the University of
Pittsburgh, now the Western Univer- /
sity of Pennsylvania. There are three /
big banks known as the Mellon banks, I
the most powerful in Western Penn /
sylvania and the Central West. They /
were started by Thomas Mellon in the
middle sos. Thomas Mellon made
friends among the small struggling
bankers of that part of the country,
particularly in the steel and oil fields
of Pennsylvania and Ohio. His sons
kept up these friendships, which was
shown, so his friends say, when An
drew Mellon was mentioned for his
cabinet post, President Harding re-
ceived many letters at that time from
the small bankers all over Ohio and
don't doubt but what that had a lot
to do with helping Mr.. Harding to de-
eide that Mr.. Mellon was the man for
the job.
"To give you some idea that he is
in a position to handle and direct the
use of the country's money remember
that he is, or was, either an officer or
director in companies representing a
total of $1,600,00O,O00. He pays the
largest income tax in Pennsylvania. '
He is not a society man, and he very I
seldom goes to the clubs of which he
is member. He loves golf and hates Q
public speaking. have been told by a
those who ought to know that he new o
ed made a public speech in his life.
hope that is true We don't need or {
ators in that job. We need deep b
thinking men on the job. Mr.. McAdoo G
was full of speeches and the result
was he spent much of his time at it. L
Mr.. Mellon is SO years of age and in b
he best of health. el
"Mr. Mellon has always been a Re-
publican and has stuck by that great b
)arty through thick and thin. When a,
.ver he saw what he thought was n
wrong in the Grand Old Party, he did
IL he could to correct it from the in az
ide instead of leaving to do it thru j.
mother party.
when I saw him in Washington u
ust before President Harding's inau-
uration he looked as if he was prim- III
d to take up his new work, and I'll OF
ct you'll never hear of any troubles
rom that department during Mr.. Har- IN
ing's administration. is
'NOw both of you run along to bed W
nd don't forget to be on time for
choOl tomorrow. Next week I'll tell +.
on another story" la