The Washington herald., 1919-09-10
MORGAN TAKES
EUROPE0N TRIP
Visit to London Believed to
Be Not Entirely for Rest,
Says Holland.

For ]. P. Morgan to arrive tn Lon
don, especially after a long absence,
is an event In the financial, COM
merciaI and to some extent poHti-
cal life Of Great Britain Mr.. Morgan
was quoted as having said as he
was embarking upon 1e steamer for
Europe that he was taking a vaca-
ton
, M Morgan went TO Europe within
q few months after the Germans be
gan their march toward Paris Later
Ae again visited London. but since
that time has been unable to cross
rae ocean. having been. as he init
mated, Intensely occupied at his home
Once with affairs of Importance both
domestic and international, for the
past I'VE years His return from
London m rg15 was followed by a
demonstration Of his leadership which
recalled TO many the attitude Of tlat
kind which occa sonaIly his father
was forced to take His visit to
London ID cDmpany with one of his
partDers. Nj. Dawson, made it pos
sfble to perfect the plans for the
totnt-nation loan made by England
and France in the United States.
wlich Amounted to 500. OOoOOO.
Mr.. Morgan had been sufficiently
Informed while in London. Of the
trrnedfa te needs Of France and Eng
land ard also Of the resources which
each Of these nations possessed.
Therefore he was able in few
varyfs to say to rae American bankers
that IN his opinion this loan should
be underwritten, because il was not
MY safe, but fairly profitable and
k-preseutsd also the meeting Of the
mnsdiate needs Of those two ma
Mons His advice was instantly ac-
cspted Earlier. that IS to say, a
few weeks after the war began, Mr..
Morgan demonstrated ais capacity as
2 leader, that being the first oppor-
tunfty Of that kind which came to
his hands after he succeeded his
father as head OF the frm of J. P.
Morgan and Company. For it was
he who Organized within few DAYS
the Two underwriting syndicates. each
Of which furnished 500, ,OOO. 900 in gold.
Canada. wlere Z served Instantly to
put an end TO the serious conge5-
ton which for a time threatened our
financial and business intsres is
Mr. MOrEan's Visit.
Other achievements OF almost TN
measurable importance represeu' the
relation OF the firm TO European War
affairs and especially the aiding Of
Great Britain in her emergencies.
Furthermore. President Wilson and
others drew heavily upon the Morgan
firm for assistance. The President
named Henry P Dawson as chairman
Of the Red Cross Organization and
under DavlSOn's leadership some 500. .
000,o0O vas raised and expanded with
out a word or criticism The Presi-
dent also, acting through the Secrp-
tary Of the Treasury. Mr.. Glass
named Thomas W. Lamont. of the
Morgan firm as one Of the commfttoo
which was TO have special charge in
Paris OF studying reparatiOn and 9TH
er financial questions. Mr.. Lamont's
success in this work has been recoC-
'N1Zed by leaders both in France and
IN Great Britain and by some in the
United States. The President in ad-
GjtiOn brought Mr. StettinIus of this
trm into an important official relation
to the government during the war
Therefore the surmise is regarded as
wholly justified that in view Of Mr..
NorEan's commanding position as one
OF the great American leaders his
visit TO London at this time is not
entirely due to his desire to take a
rest.
HOLLAND