JP Morgan Jr.

At 75 years old, JP Morgan Jr. physical status not available right now. We will update JP Morgan Jr.'s height, weight, eye color, hair color, build, and measurements.

The younger Morgan resembled his father in his dislike for publicity and continued his father's philanthropic policy. In 1905, his father acquired the Guaranty Trust bank as part of his efforts to consolidate banking in New York City. After his father died in 1913, the bank became Jack's base.

Morgan played a prominent part in financing World War I. Following its outbreak, he made the first loan of $12,000,000 to Russia. In 1915, a loan of $500,000,000 was made to France and Britain following negotiations by the Anglo-French Financial Commission. The firm's involvement with British and French interests fueled charges the bank was conspiring to maneuver the United States into supporting the Allies in order to rescue its loans. By 1915, when it became apparent the war was not going to end quickly, the company decided to forge formal relationships with France. Those dealings became strained over the course of the war as a result of poor personal relations with French emissaries, relationships that were heightened in importance by the unexpected duration of the conflict, its costs, and the complications flowing from American neutrality. Contributing to the tensions was the favoritism displayed by Morgan officials to British interests. His personal friendship with Cecil Spring Rice ensured that from 1915 until sometime after the United States entered the war, his firm was the official purchasing agent for the British government, buying cotton, steel, chemicals and food, receiving a 1% commission on all purchases. Morgan organized a syndicate of about 2200 banks and floated a loan of $500,000,000 to the Allies. The British sold off their holdings of American securities and by late 1916 were dependent on unsecured loans for further purchases.

At the beginning of World War I, US Treasury Secretary William McAdoo and others in the Wilson administration were very suspicious of J. P. Morgan & Co.'s enthusiastic role as British agent for purchasing and banking. When the United States entered the war, this gave way to close collaboration, in the course of which Morgan received financial concessions. From 1914 to 1919, he was a member of the advisory council for the Federal Reserve Bank of New York.

On July 3, 1915, an assassin, Eric Muenter, entered Morgan's Long Island mansion and shot him twice. This was ostensibly to bring about an embargo on arms, and in protest of his profiteering from war. Morgan, however, quickly recovered from his wounds.

After World War I and the Versailles Treaty, Morgan Guaranty managed Germany's reparation payments. After the war, Morgan made several trips to Europe to investigate and report on financial conditions there. In 1919 he was for a time chairman of the international committee, composed of American, British and French bankers, for the protection of the holders of Mexican securities. In November 1919, he was made a director of the Foreign Finance Corporation, which was organized to engage in the investment of funds chiefly in foreign enterprises. By the 1920s, Morgan Guaranty had become one of the world's most important banking institutions, as a leading lender to Germany and Europe. During the Great Depression he took heavy financial losses. The assets of the House of Morgan fell 40% from $704 million to $425 million. American banking came under heavy attack. Morgan personified banking, and drew attacks from politicians, especially in the U.S. Senate's Pecora hearings of 1932, which "created a tidal wave of anger against Wall Street".

He was a director in numerous corporations, including the U.S. Steel Corp., the Pullman Co., the Aetna Insurance Co., and the Northern Pacific Railway Co.

He died of a stroke on March 13, 1943, in Boca Grande, Florida, and was interred in Cedar Hill Cemetery in Hartford, Connecticut.

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