Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-03-31
John Pierpont Morgan.

a remarkable career was closed today
| with the death in, Rome of. John Pierpont
Morgan. This man. for over forty years
| one of the most powerful pcrsonages in
the financial world. had become during
| the latter part of his life recognized as
the one most influential in the direction
of what has been styled big business" in
the United States. He was an exception
to the rule in American finance. Where
other men have in this country attained
financial power from small beginnings. j.
P. Morgan was born to IT, purple. His
father was a banker of large means. and
he as young man was trained in finan-
cial business and exhibited an excep-
tiOnal capacity for the handling of large
affairs. At the age of twenty he entered
the banking business, and three years
later he became the agent and attorney
in this country for the large London es-
tablishment in which his father was part
ner. While other sons of rich men were
squandering their opportunities this young
man devoted himself to business, and de-
veloped genius for organization which
has in the last quarter of century mani
tested itself in a series of remarkable en-
terprises which have had profound eff
United States.
The name Of Morgan has for years
been a synonym for money power. If J..
Pierpont Morgan's bank put its stamp Of
approval upon any scheme of organiza-
ton or consolidation its success was vir-
tually assured. This meant a remarkable
organization, with facilities for the study
of business conditions throughout the
country. There was something more than
mere financial prestige in the Morgan es-
Enlistment So great were the response
bilities resting upon the reputation for in
fallibility which had been acquired that
to blunder i'm the underwriting of any
business or transaction was to put mil
lions in jeopardy. Naturally that pres
tige brought with it advantages; Morgan
could command information where other
men must buy it without absolute guar
antee of accuracy.
Whether the powers of Morgan were
used for the best interests of the country
is to be finally answered hereafter, for
1t is too close to the fact to determine
now. There Is much prejudice in the
public mind against the principle upon
which he worked. that of consolidation
and cooperation. He believed in the
efficiency of union of interests. To him
the trust meant economy of operation
Perhaps in his broader vision he recog-
nized the dangers growing out of too
great a development of the trust prin-
ciple. So few of his inner thoughts have
become public property that it is impos-
sible now to judge of this. Yet there can
be no denying that in certain sense j.
Pierpont Morgan was a powerful factor
in the development of the resources of
the country, and it may be that when all
prejudice has been softened tribute will
be paid to him one of the greatest
conservators the world has produced.
Apart from his financial transactions
Mr.. Morgan was highly interesting man.
With taste for the artistic and unlim-
came the worlds most diligent buyer of
objects of art He greatly enriched the
art collections of this country by his pur-
chases, the cost Of which ran into fabu-
lous sums. He was also liberal giver
to charities, and his practical endow-
ments were numerous and inspiring in
their indication of a desire to put his i'm
mense wealth to good uses. And yet j.
Pierpont Morgan was never a man of the
people, and lacked ability to appreciate
and grasp the feelings of the multitude.
He was essentially an aristocrat by birth,
| by lifelong. association and by habit of
business and seldom has man reached
| to such a height of power in any DEM
ocracy with so little actual identification
with the life of the people.