Member-only story
The History of The House of Morgan
In the pantheon of American finance, few names are as iconic or evoke as much reverence and intrigue as that of the House of Morgan. This financial dynasty, rooted in the formidable partnership between Junius Spencer Morgan and his son, John Pierpont Morgan, reshaped the landscape of global finance.
Junius Spencer Morgan
Junius Spencer Morgan (1813 — 1890) was born on April 14, 1813, in Holyoke, Massachusetts. His early years were marked by the modest but respectable circumstances of his family, which was part of the New England middle class. Junius’s father, Joseph Morgan, was a merchant and innkeeper, providing a stable, though not opulent, upbringing that instilled in Junius a strong work ethic and the values of prudence and integrity.
Junius received a basic education, during which, he showed an early inclination towards business and finance, working in his youth in various capacities that acquainted him with the mercantile world. His initial foray into the business world involved working in the dry goods sector, which referred to textiles, clothing, and related items such as fabric, thread, yarn, and sewing supplies, a common entry point for many aspiring businessmen of the era.
