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Show ilOO RETIRES 10 P1ATE LIFE SECRETARY OF TREASURY AND DIRECTOR OF RAILROADS HAS RESIGNED. Inadequate Salary is Reason That is Given by Cabinet Member for Relinquishing Post as Soon as Successor is Selected. Washington. -William Gibbs Me-Adoo, Me-Adoo, secretary of the treasury, director direc-tor general of railroads and often discussed dis-cussed as one of the presidential possibilities pos-sibilities of l'.ii'O, lias resigned his offices of-fices to return to private business. President Wilson has accepted his resignation. .Mr. McAdoo will give up the treasury portfolio as soon as his successor has been selected, lie wished lo lay down his work as director general gen-eral of railroads by January 1, but will remain if the president has not then chosen a successor. I'pon the new secretary of the treasury, treas-ury, whoever he may be, will devolve the task of financing the nation through tlie transition period of war to peace, which probably will include at least two more Liberty loans and possibly possi-bly also a further revision of the system sys-tem of war taxation. Letters between President Wilson aud Mr. McAdoo, made public November Novem-ber 'J'2, with the announcement of the resignation, give Mr. McAdoo' s reasons for leaving the cabinet solely as a necessity ne-cessity for replenishing his personal fortune, and express the president's deep regret at losing his son-in-law from his official family. Mr. McAdoo receives S12.00U a year as secretary of the treasury, the uniform uni-form salary of cabinet members, and nothing as director general of railroads. rail-roads. His family expenses are known WILLIAM R. M'ADOO f ': . a mmtmmmm-m ml J V' l)jpussas,3W 'sl'-'iV T. .'--V K '"' ' -f J) William G. McAdoo, who has resigned re-signed as secretary of the treasury and director general of railroads. to have been heavy in the last few years, although since tho war ho has taken almost no part in the little capital cap-ital society that remained. Repeatedly the secretary has referred to small salaries sal-aries of government officials, though he did not refer to his own case. Mr. McAdoo made the announcement of his retirement at one of his weekly conferences with a score of newspaper men in his private office at the treasury. treas-ury. The. rise of Mr. McAdoo to a place of influence in the administration, which many have declared was second only to the president, was very fast. As a southern lawyer who had been interested inter-ested in transportation schemes in southern cities, he went to Now Y'ork and accomplished ihe then almost unbelievable un-believable feat of successfully tunneling tunnel-ing the Hudson river for elecrric trains. One of the first men to suggest sug-gest the scheme if not actually the first was adjudged a lunatic, and he lived to see tlie project an accomplishment. accomplish-ment. It is entirely probable that the president pres-ident may fill separately the offices of the secretary of tho treasury and director di-rector general of railroads. |