om stagecoaches, then hotels, and then finally he struck the jackpot from fire insurance companies. Soon he made a name for himself and moved to London were he obtained a partnership in George Peabodys banking firm. Around nine years after he moved to London Junius had a son, not just any son but a son that would bring the Morgan name to the height of its prestige, John Pierpont Morgan. (2) Having his roots buried deep in finances due to his father, J. P. was destined to become one of the worlds greatest bankers. Junius made sure he went to the best schools and got the best jobs, he looked over every aspect of his existence to insure that his son got the best in life; Junius even paid for his son to be taken out of consideration for the draft of the Civil War. He obtained a partnership fro J. P. in his bank before landing him a position in a major bank in America, one of Peabodys American associates. With J. P. in America and Junius in London, the two set out to dominate worldwide financing. J. P. soon became famous for helping the U.S. government finance many of their operations and war efforts as well as extending his roots into many other forms of money making, consisting mostly of railroads. (3) J. P. loved the railroads and the railroads seemed to have loved him, the railroads made him rich and anxious for more. At one point of his life he owned more than a sixth of the railroads in America, by snatching up and reorganizing failing lines and using his keen business wit to bring them back to greatness. (9) Morgan didnt believe in obtaining vast amounts of money and undertaking cutthroat competition and he didnt place his confidence in them. He, however, believed in trusts, the gathering and consolidation of many parts of an industry to compose one gigantic company, which could control a major chunk of a particular trade. The problem with this is that while Morgan trusted these large companies, the U.S. Government did not, an...
