The Washington herald., 1908-02-09
J.P. MORGAN At CLOSE RANGE
Why He Was Selected to End the
Financial Disturbance.
Great Banker Is shown to BE a Cold
blOOded Man, Yet Full OF
Imagination.

In a discussion Of the question. why
was J. p. Morgan selected TO stem the
tide OF the recent financial furry?'
kercheval Wolff in Appleton's Magazine,
explains the financier's great force as due
10 a combination of imagination, senti-
ment, and truthfulness. Among other
things. Mr.. Wolf says:
IL would surprise those who have not
given him thoughtful study 10 know that
the salient quality Of the great cold
blooded banker. the forcefui. almost bru-
tai. fnancier. is imagination-the same
quality that makes a poet. a painter. a
sculptor He could feel and vitalize what
was going on IN the troubled minds OF the
people He saw the same bogle man they
saw, He felt their fears and he knew
what To do. Facts did not suffice for him
for If fact had sufieed there would have
been no panic.
Imagination alone. untramBleled and
unrestricted, would have made the panic
worse, 1t would have been as if one
child in the dark had caught anothe-'s
terror and made the bogie man seem all
the more real and approaching. Il took
responsibility for others 10 develop the
self-restraint within and the calm con-
1dence Of manner without-just as il re-
quires the responsibility Of the nurse to
soothe the frightened child.
''The capacity and the wish TO assume
this sponsibility have been Mr.. Nor
gan's fIom his youth Trained for HIS
place al the head OF an old and honored
banking nCuse Of international scope and
reputation BY a father whom he respected
and honored, responsibility for the well
fare Of others has become a part - his
being Such responsible. " for bearing the
family name must rest on sentiment. and
that is the second quality that appears IN
answering the query in the title Of this
article
Growing out Of this is another quality
which will be more readily accepted
truthfulness. Mr. Morgan has never de-
ceived his following"
Because he had given his word. the
Trust Company OF America was saved
says Mr. Wolf, and adds. at was be-
cause Of mana manly man. a man Of
force. who was trusted and who saw the
childlike terror with vivid Imagination
that TIE panic stopped"
In a more Intimate discussion OF the
man Mr. Wolff has written:
When has Mr.. Morgan ever shown sen
timent? viii be the next question to be
asked. The answer is less obvious. Senti-
ment is something your manly man con-
ceals. II crops out. however, occasion
ally-in his great gift 10 the Harvard
Medical School in honor OF his father
whose name alone appears; IN his re-
tention Of his fathers name for the Lon
don house. But the best illustrations
have hitherto never been published.
Mr. Morgan is an active director in
the New York, New Haven and Hartford
Railroad. IT is because Of his sentiment
for Hartford, his birthplace, that the
name Of the road has never been changed.
That railroad has inherited a part Of the
old air line. There is a short cut from Bos-
ton through Willimantic to New Haven.
This passes through MiddletOwn. where
there is heavy curve which must be
eliminated TO secure highest speed. This
change was prevented for years because
It required the removal Of the old cene-
terry When the people OF MiddIetown
finally yielded, the plans were laid before
the board Of directors, from which they
have never emerged Mr. Morgan oh
Jected- His ancestors were buried there.