Description

Unlike Cornelius Vanderbilt and Andrew Carnegie, Junius Pierpont Morgan, known as Pierpont, did not rise from humble beginnings to the financial stratosphere. But like them, he was among the “Lords of Creation” as termed by the writer, Frederick Lewis Allen. Morgan took advantage of his prodigious talents and connections to become the premier leader in the financial world between the Civil War and World War II. He financed the growth of industrial America. He saw to the financing of both the Panama Canal and Charles A. Lindbergh’s history-making flight. Morgan was godfather to the U. S. Steel Corporation and the Metropolitan Museum of Art. He created the House of Morgan which saved New York City from bankruptcy three times and rescued the American economy from disastrous panics more than once. Pierpont Morgan became the most feared, hated and revered banker, indispensible to the workings of the American economy.