Notes
Title
Notes
Creator
Grayson, Cary T. (Cary Travers), 1878-1938
Identifier
WWP15535
Date
1918 December 16
Description
Cary T. Grayson's handwritten notes on William G. McAdoo's resignation and accomplishments as Secretary of the Treasury.
Source
Cary T. Grayson Papers, Woodrow Wilson Presidential Library, Staunton, Virginia
Language
English
Text
McAdoo resigns - a great loss to the administration. Patriotically and unselfishly given six years of his life to the Country. He leaves at the age of fifty five. His responsibility to a large family dependent on him. Opportune time to take the step, if it must be done. He came one of the most mis-represented of the President’s Cabinet and leaves the most admired. His person ability having overshadowed that of practically every Government official. By his iniative and under his guidance more constructive financial legislation has been enacted than in the last century - Federal Reserve Act, Federal Farm Loan Act. The financial stability of the country is largely due to his foresight. The greatest Secretary of the Treasury since Alexander Hamilton. He is the father of the Shipping Bill under which a great Government Merchant Marine is being constructed.
One of his greatest achievements was the Soldiers & Sailors Insurance law.
Every man & woman enlisted in the service is given insurance on lines at low rates and assured definite compensation for injuries received in the service. Under this law the dependent families of soldiers & sailors have been supported & cared for by the government. It is one of the most enlightened & humane measures ever enacted by any nation.The War Finance Act - Liberty Loan Campaigns.
First man to finance minister ever went to the people to finance a great war. Kept rate of interest down - making the war cost the people of the US less money. He has also supported the credit of the allied nations & carried their financial burdens as well as those of the USWithout the great work of the Secy of the Treasury the war could not have been won and it was won all the more quickly because of his prompt decisions. His daring, & resourcefulness & vision.
Kindness if we can, force if we must
One of his greatest achievements was the Soldiers & Sailors Insurance law.
Every man & woman enlisted in the service is given insurance on lines at low rates and assured definite compensation for injuries received in the service. Under this law the dependent families of soldiers & sailors have been supported & cared for by the government. It is one of the most enlightened & humane measures ever enacted by any nation.The War Finance Act - Liberty Loan Campaigns.
First man to finance minister ever went to the people to finance a great war. Kept rate of interest down - making the war cost the people of the US less money. He has also supported the credit of the allied nations & carried their financial burdens as well as those of the USWithout the great work of the Secy of the Treasury the war could not have been won and it was won all the more quickly because of his prompt decisions. His daring, & resourcefulness & vision.
Kindness if we can, force if we must
Files
Collection
Citation
Grayson, Cary T. (Cary Travers), 1878-1938, “Notes,” 1918 December 16, WWP15535, Cary T. Grayson Papers, Woodrow Wilson Presidential Library & Museum, Staunton, Virginia.