OCR Text |
Show MOMPUK in TnriPiinv I M IflUMUM i SECRETABT - Explains Pay Is Inadequate as He Gires Up Bif Job Sy Aaaeelated Praea. WASHINGTON. Nor. II. CHrtns necessity for replenishing his personal fortune aa a reason. William O. Me-Adoe Me-Adoe has resigned aa secretary of the treasury and director general of rail-roads. rail-roads. His resignation has been ac-cepted ac-cepted by Prealdeait Wilson. Aa secretary of the treasury Mr. Me-Ados Me-Ados will retire as soon aa a successor succes-sor has been choasn and has quail-fled. quail-fled. He will relinquish bis position ss head of tha government-controlled railroads January 1, unless a director haa not then been selected. Mr. MoAdoo, said he hsd no Idea who hla sueeaasors might be and added that he would make no recommendations te the president. NO CHANGE IN POLICY. Regardleee of the appointment to the treasury post. It la considered Improbable Im-probable that there will be any great rltance In future fleeal policies of ths govt rnment. Wsr bonds of short maturity, ma-turity, to the sum of about I8.8OU.0IM).-ecO, I8.8OU.0IM).-ecO, probably will e floated Ja ISIS, aa planned by Mr. McAdoo and hla treasury advlears. Before he leaves the U.eaury Mr. McAdoo will prepare i reetwnmen.ltittona to congress for legislation legis-lation to change the war finance cor-p-)ratlon Into a peace finance corporation." corpo-ration." thereby permitting It to finance Industries during the read-ju-tment period. The future of the capital laeuea committee com-mittee is uncertain and the attitude. of Mr. McAdoo successor may have much to do with Its course. FUTURE O RAILROADS. Aa for tle railroads, the nsw director direc-tor general doubtless will hava much to d with the formulation of policies for future management. Mr. McAdoo recently Indicated thst hs had planned t continue consolidations and other reforms looking to efficient operation. ; regsrdleas of ths fact; that the war emergency la over. Opposition to thla course now appears ap-pears to be developing and the Issue of whether railroads are to remain per- i manently under government direction 1 and even government ownership, or bo returned shortly to their private own-era own-era la taking form. Tbla Issue Is a I principal legacy which Mr. McAdoo will leave to his successor. WHO WILL BE SUCCESSOR. As yet there. Is no suggestion 1 ' who i Mr. McAdob's successor may be, either aa secretary of tha treasury or aa director di-rector general. It la entirely probable that the p real dent may fill separately ths offices of ths secretary of the treasury and director general of rall-roada rall-roada Thers was nothing official today to-day on which to base a statement of ! who might bo under consideration for i secretary of tha treasury. On prevloua occasions, when a successor to Mr. McAdoo Mc-Adoo was discussed, John Bkelton Williams, Wil-liams, comptroller of the currency, and W. P. O. Harding, governor of the fedora fed-ora Tpoorve board, have most gener-orally gener-orally been mentioned. Paul Warburg, formerly a member of the reeerva board and a prominent New Tork banker,, and Russell C. Lefflngwell, ss-sistsnt ss-sistsnt secretary of the treasury, also are reckoned among the possibilities. President Wilson Is not required to choose ths new director general of railroads from among ths cabinet members and It Is possible tho place may go to soma one sasoclatsd with Mr. McAdoo In ths railroad administration. adminis-tration. Walker n, HI nee. assistant director general of railroads, formerly s New Tork lawyer and chairman of the board of the taenia Fa, haa been Intimately corner ted with- ths development of government operation, and Is among those discussed tn. Wa ah log ton as a possible successor to Mr. McAdoo .as director general. |