J.P. Morgan got away with not fighting in the civil war like many in his wealth class by paying the $300 for someone else to take their place, but that's not where the story of J.P. Morgan and the civil war would end.
Arthur Eastman wanted to purchase 5,000 guns stored in New York City that "blew off the thumbs of people who fired them." One problem, Eastman didn't have the money. Eastman went to congressman Thaddeus Stevens. Stevens too didn't have money, so he went to J.P. Morgan for the money. Morgan loaned Stevens the money who could then turnaround and sell the arms to his friend General John C. Fremont. In return for loaning money, J.P. Morgan would be repaid $22.00 for each gun.
There were congressional investigations into this disgraceful activity, and even though General Fremont was not legally able to purchase the weapons, speculators sued the government for refusing to repay for the arms (that were shit). The speculators would end up getting $13.31 per gun, a profit of $49,000. Not bad for being able to pay $300 for avoiding fighting, but not being satisfied, sued for more and got $58,175 more.
Morgan bought and sold U.S. bonds that would rise and fall with victories and defeats by the Union army. Morgan would get "up-to-the-minute" accounts, including General Grant's personal private telegrapher. Morgan would with his information would inform his dad of the news, and his dad would buy U.S. bonds.
The North was borrowing money, causing inflation, and so invented the "greenbacks." Because of the greenbacks, the price of gold went when the North lost, and down when the North won. In other words, a man who had contact with Grant's personal telegrapher, made more when the South won a battle (treason). Morgan got rich, people died, Morgan kept going, the poor were buried.
In the 1870's Morgan would fund soldiers who were "solving the Indian problem." As poverty and pollution was wrecking havoc on millions, Morgan still making bank during a depression wrote to his old man; "I don't believe there is another concern in the country (that) can begin to show such a result."
Morgan would make money at all costs (Civil War). Mark Twain and Charles Day Warner's saying in the book 'The Gilded Age,' "Get rich, dishonestly if we can, honestly if we must," could describe the life of J.P. Morgan. Morgan once said, "I don't know as I want a lawyer to tell me what I cannot do. I hire him to tell me to do what I want to do."
From 1888 to 1907: 53,046 railroad workers were killed. More than 800,000 crippled for life. For J.P. Morgan; $700 million in cash, and public land larger than France.
After reading all this, J.P. Morgan being named "The Savior of the Nation" while he was still alive is exactly the kind of sentiments you were thinking of giving to J.P. Morgan.
I wish Libertarians knew a fucking thing about history....
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