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John MorganAmerican banking genius
Date of Birth: 17.04.1837
Country:  USA |
Content:
John Pierpont Morgan: The American Banking Genius
John Pierpont Morgan, the uncrowned king of the United States, passed away on March 31, 1913. The world economy lost a banking genius, and opponents of monopolies lost their favorite target for criticism. The New York Stock Exchange experienced a slight panic. On the night of the thirty-first, the seventy-five-year-old billionaire tried to get out of bed, telling his frightened nurse that he needed to go to school. He never woke up the next day at noon. His eldest daughter, Louise, who had held his hand all morning, recorded his last words in her diary. At 11:35, her father opened his eyes, looked into her face with a clear gaze devoid of pain or signs of old age, and said, "My dear Sally West..." After that, his agony began. Louise was her father's favorite, his loyal companion and keeper of secrets. She knew all of his secrets, managed the accounts of all his mistresses (some of whom she even befriended), and could swear that there had never been a Sally West in John Morgan's life. Thus began a long, sometimes thrilling, sometimes tiresome family investigation that lasted for several decades. Louise was everything to her father, and because of that, she didn't marry until the age of 32. As Morgan's heiress, she spared no expense on detective fees and archivists.
Biography of John Morgan
In his childhood, John Morgan was a weak and sickly boy. Detective Peter Fortescue, a renowned specialist in private investigations, described this in detail in his papers. Skin diseases, lung inflammations, arthritis, and mild epilepsy - neighbors said that little John had bad blood, and that was the absolute truth. The Pierponts, who gave John life, had ancient origins and obvious signs of degeneration. By the end of the 19th century, their family had lost much of its former grandeur, leaving behind only good manners passed down from generation to generation and a taste for elegance. Reverend John Pierpont, a priest at one of the Boston churches, delivered excellent sermons, supported his wife and six children, wrote bad poetry, and stood out in the crowd with his shining blue eyes and enormous red nose. (This condition was hereditary in the Pierpont family - as he aged, John Pierpont Morgan's nose grew to fantastic proportions.) Mrs. Pierpont suffered from hysterical fits and severe dermatosis. She couldn't fulfill her marital duties and was tormented by her appearance, so the life of the poor pastor sometimes became hellish. Their daughter, Juliet Pierpont, also inherited a skin condition - not from her mother, but from her father, who suffered from rosacea. Nevertheless, she was a pretty girl: Junius Spencer Morgan, who fell in love with her, was considered the most eligible bachelor among middle-class businessmen in Boston. Junius started with simple trade and by the age of forty had a capital of several million dollars and was a partner of the famous millionaire Pibody. Morgan Sr. raised his son with an iron hand - the heir had to surpass his father. According to Detective Fortescue's account, the story of young John Pierpont Morgan read like a Charles Dickens novel: a fragile boy with a constant runny nose, prone to nervous breakdowns, sudden convulsions, body aches, migraines, and colds. The little invalid had to always be the first in everything. His father made sure he chose his friends wisely, often transferred him from school to school, and did not indulge him with emotional warmth - the boy, who spent six months in bed, desperately longed for love. Morgan Sr. was a true Victorian: stern, reserved, and not letting anyone into his soul. By their tenth year of marriage, his mother's nerves had completely given out, and she permanently closed herself off in her gloomy world, full of real and imagined suffering and lamentations about her lost youth. And John Pierpont Morgan, despite all these circumstances, managed to grow up clever, cheerful, and lively. He never did homework, yet he excelled academically. He loved animals and enjoyed excursions into the woods and mountains. Until he turned twelve, there was no Sally West in his life - Detective Fortescue was ready to vouch for his professional reputation on this matter. Louise Morgan entrusted the investigation of her father's youth to someone else - Carl Henderson painstakingly and scrupulously compiled a list of all the girls young John befriended, and tracked down all the girls he attempted to court as he grew older. After reading this extensive work, spanning several dozen pages, Louise was moved to tears. She felt desperately sorry for her dear daddy. With her vivid imagination, she pictured him starting his independent life, a prelude to his first romances: two servants emerge from the spacious family carriage and laboriously climb the steps of a wheel steamer moored in the Boston harbor. They carry large stretchers on which a pale teenager lies curled up - six months ago, John weighed 67 kilograms, but now he weighed just over fifty. His parents sent him to the Azores after he had an acute rheumatic fever - John spent six months in bed and had to quit school, where he had become one of the top students. Junius Spencer Morgan believed that the southern sun would benefit his son. The boy perked up on the ship, and he flourished on the Azores. John would eat a dozen and a half oranges a day and gained so much weight that his pants no longer fit him. He still had various ailments, but he learned not to pay attention to them. He worried about the acne that broke out on his forehead (the condition tormented Morgan his whole life - it seemed to be hereditary), yet he still pursued all the pretty girls in the area. The detective's report included a detailed list of Italian and Portuguese girls whom the young virgin courted with flowers and candy, accompanying them faithfully to morning Mass while remaining loyal to the Protestant Church. Louise Morgan did not find Sally West among them, but she shed tears over the letters sent from the Azores, which Carl Henderson found in the family archives. Young John Morgan scolded his parents for "hardly writing" to him. He felt very lonely, so he even got himself a canary "to have someone to take care of and to make time pass more pleasantly." Poor boy, he desperately longed for love - his parents at home did not spoil him with attention, and on the Azores, the fifteen-year-old boy felt completely abandoned. On his birthday, he received a letter from his father, instructing him to take care of his health and informing him that he would soon return to school, where he would have to work hard to catch up with his classmates. Junius Spencer Morgan didn't even mention his son's birthday, and Johnny cried directly over his father's letter. Morgan Sr. kept his word - upon returning from the Azores, the boy worked like a horse, and within a year, he was sent to Switzerland to complete his education. There, John Morgan perfected his German and French and fell deeply in love with Miss Hoffmann, a young curly-haired girl with a slight squint, who was his father's friends' niece. He even wanted to propose to her but learned just in time that the girl was already engaged. From Geneva, Morgan moved to London, where he explored all the capital's museums, made many valuable business connections, and finally lost his virginity to a pretty maid. But she, to the great disappointment of Louise Morgan, was not named Sally West. Soon after, John Morgan returned to America. The North-South war had begun, and for a person who understood commerce, it could have been a golden opportunity. Dirt, blood, marches, and counter-marches: General Jackson chasing General Sherman, General Grant pressing General Lee - their soldiers needed boots and rifles, and English factories, cut off from their southern suppliers by the Northern fleet, needed southern cotton. Father and son Morgan engaged in one speculation after another; in the process, John discovered such a taste for business and showed such extraordinary business acumen that Morgan Sr. sometimes felt uneasy.
John Morgan on the Rise
John Morgan was on the rise, and then he encountered the greatest love of his life. Amelia Sturgis was the daughter of a railroad magnate. She had a beautiful singing voice, excellent sewing skills, and a healthy plumpness with rosy skin. John courted Amelia at charity events, accompanied her during a sea voyage to England, and became insanely jealous of the ship captain's assistant, who was also interested in the girl. When she fell ill, John circled her house like a vulture, and as soon as Amelia recovered a little, he took her on walks.
His business was booming. Morgan got involved in military lending, which the federal government needed like air. He placed American loans in London and gradually became one of the leading experts in this field. The girl he loved was considered one of the best catches in New York. And suddenly, something broke in his destiny.
Amelia fell ill: coughs were followed by vomiting, she slept poorly, lost weight, and grew pale. The word "tuberculosis" began to sound more frequently in her house - in the mid-19th century, there was no cure for it. John's father advised him to break off the engagement, but he refused to listen - he was very happy with Amelia, and no other woman could replace her.
During their wedding, Amelia leaned on John's arm for support, and the next day, she stayed in bed all day. When she felt better, the couple went on their honeymoon. Parisian doctors confirmed the diagnosis, and they had to travel to Algeria. John gave up his business - he sat by his wife's side all day, carried her out to the sea every morning, and baked apples for her in the fireplace every evening. This went on for a month and a half, and then the doctors said that Amelia's other lung was affected as well. She drank fish oil, donkey's milk, swallowed pills, and slowly faded away. John bought her canaries and nightingales, brought her flowers every day, and hoped for the best.
By the time she was dying, her father summoned him to Paris - there were some business matters they needed to settle related to their joint business. John spent only one day with him. The next day, he bought a ticket on a steamship and hurried back. By the time he returned, Amelia had stopped eating and could hardly speak. He leaned his head on her pillow, and she kissed his temple. John Morgan spent the whole night by his wife's bedside, and by morning, Amelia's mother, respectable Mrs. Sturgis, heard sobs and moans and rushed into the room to see John, kneeling by the bed, crying and begging her deceased daughter to say something to him...
John Pierpont Morgan brought his beloved's coffin to New York - the cumbersome steamship took several weeks to traverse the stormy sea, and he stood for hours on deck in the fine rain that stung his face.
Since then, Morgan was never happy - Louise was convinced of this. That's why she decided to reexamine her father's life: John Morgan's eldest daughter always believed that he truly loved only her and his first wife - he had no other strong attachments in his life. And if some Sally West was able to bring happiness to her father, Louise was determined to find this woman at any cost. In short, the Pinkerton detective agency took up the case again.
...After Mimi died, John fell ill again. He had a mild case of smallpox, suffered nerve breakdowns, eczema, headaches, and on top of it all, he complained of increased fatigue. Morgan gained weight, grew darker, and worked around the clock - this was when his unique business style, which terrified both competitors and friends, developed. He controlled everything, never missed a detail, carried a dozen notebooks with him, and when his business grew so large that one person could no longer keep track of it all, he replaced the notebooks with just as many assistants. His aggressive, assertive, and prickly negotiating style shocked his partners, who were raised in the well-mannered Victorian spirit. Morgan conducted business as if he were at war: he conducted reconnaissance, engaged in battle, and crushed his defeated opponent. Money came to money, and John Pierpont Morgan grew wealthier at a rapid pace. In the late 19th century, England placed loans in the United States worth hundreds of millions of dollars, and his bank was the sole intermediary in this business. That's when his youthful acquaintances and excellent knowledge of Great Britain came in handy. Morgan soon became a banking super-monopolist, then a railroad king, and he even mastered the gold and arms trade in his youth. Years passed, and he became the most powerful man in the country: his power and influence were so great that Morgan inspired both religious reverence and mystical terror in his fellow countrymen. They said he possessed a satanic ruthlessness, and anyone who crossed him even in the smallest way could not expect mercy. They said that even very strong people could not withstand the gaze of his large, widely spaced eyes - it was like looking at the headlight of a steam locomotive rushing straight at you. They said he tenderly loved cats and dogs, helped the poor, remained loyal to friends, and was generous to women - loyal journalists described him in such a way that it made him sick. Nothing was heard about his second wife. Frankly speaking, John Morgan didn't think much about her either.
Naïve blue eyes, a pleasant half-opened mouth, a healthy plumpness, and rosy skin... Francis Louise Tracy (her friends called her Fanny) promised to be an excellent wife, and the young wealthy widower chose her just as his paternal great-grandfather chose dairy cows. Fanny managed the household, made love to him, and dutifully bore him children (the Morgans had a son and three daughters) - and she poisoned his life with endless whining. In Fanny, John Morgan seemed to have found his mother again - she was as hysterical as Juliet, nothing pleased her, and in addition to everything else, she became terribly overweight and fell ill after thirty years of marriage. Her legs swelled, her stomach hurt, and she suffered from migraines and diarrhea. Fanny loved nothing more than staying at home and complaining to her friends about her unbearable life.
Every spring, Morgan would leave for Europe for three months: methodically, this was the only way he could have any time to himself. He would methodically go from one city to another, meeting with business associates, attending society events, and participating in various sporting events. During these trips, he would also visit art museums, which he loved, and shop for his wife and children. Morgan would always come back with new art pieces, furniture, and clothes designed by the best European fashion houses. He would also bring back interesting business opportunities. The world began to recognize him as a financial genius. However, his wife would always complain about how lonely she was without him and how boring her life had become. This would upset Morgan, but he would just nod and say that he had to work hard to provide for his family. He loved his wife and wanted to make her happy, but he also believed that his work was his duty. The couple's relationship became more strained as the years went by, and it seemed that they were growing apart.
In 1887, Morgan's father, Junius, passed away. This was a difficult time for John, as he had always looked up to his father and valued his advice. He turned to his wife for support, but she was unable to offer him the comfort he sought. Their relationship deteriorated further, and Morgan began to question whether he had made the right decision in marrying her.
In 1896, John Morgan met the woman who would finally bring happiness back into his life. Frances Louisa Tracy was a charming and vivacious woman, and their relationship quickly blossomed into love. Morgan admired her intelligence, wit, and independent spirit. They shared a passion for art, architecture, and travel. Frances was a perfect match for him, and he finally found the companionship and emotional connection he had longed for.
Despite their age difference, John and Frances had a deep and fulfilling relationship. They supported each other in their personal and professional endeavors and enjoyed a shared love for art and culture. Frances became an integral part of John's life and helped him navigate the challenges and complexities of his business empire. Together, they built a strong and loving family, raising their children with love and affection.
John Pierpont Morgan passed away in his sleep on March 31, 1913. He left behind a lasting legacy as a banking genius and a titan of industry. His influence and impact on the world of finance are still felt to this day. Frances Louisa Tracy Morgan continued to support her family and contribute to philanthropic causes after her husband's death. She lived a full and meaningful life, remembered as a loving wife, devoted mother, and partner to one of the greatest financial minds in history.
