Gentlemen Bankers: The World of J. P. Morgan (Harvard by Susie J. Pak

By Susie J. Pak

Gents Bankers specializes in the social and financial circles of 1 of the US s most famed and influential financiers, J. P. Morgan, to inform a heavily centred tale of ways monetary and political pursuits intersected with own rivalries and friendships one of the Wall road aristocracy in the course of the first half the 20th century.

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303,000,000 2 Bankers Trust Co. €Morgan & Co. Syndicate Books, ARC 108–ARC 119, Pierpont Morgan Library (PML) Â� American finance reached its peak,” it was also the point that the tide began to gain momentum against him. 52 He was also criticized for having arbitrarily decided who would fail and succeed irrespective of the damage to the depositors or the economy at large. Less hostile critics argued that the financial system could not give one man that much power, even if he worked for the greater good, as Morgan sincerely believed he had.

Davison, Lamont started at Bankers Trust and moved to First National Bank when Davison became a Morgan partner. €Morgan & Co. 121 A native-� born son of a Methodist minister of Scotch-�Irish extraction, Lamont was raised in the Hudson Valley of New York and educated at Philips Exeter Academy and Harvard University. Having written for the Harvard Crimson, Lamont began his career in journalism and never lost his interest in the power of mass communication. (Lamont owned the New York Evening Post from 1918 to 1922 and the Saturday Review of Literature from 1924 to 1948).

40 Strong was at the Trust when it closed. ” That is exactly what happened. Day and night for several weeks, Morgan, his partners Davison, Steele, and Perkins, and his associates were on call to answer to the frantic visits of bankers, make decisions about the solvency of institutions, and find capital and solutions for those whose failure would further demoralize confidence. Meetings were held at Morgan’s office and his pri- G e n t l e m e n B a n k i n g B e f o r e 1914 23 vate library on Madison Avenue and 36th Street, which had just been completed the year before.

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