J. Pierpont Morgan. Library of Congress, public domain
Grove Press
The House of Morgan
An American banking dynasty and the rise of modern finance.
$25.00
Available · worldwide delivery
- Author
- Ron Chernow
- Publisher
- Grove Press
- Published
- January 2010
- Pages
- 0
- Format
- Paperback
- Size
- Standard
- Language
- English
The Library Essay
A Bank That Behaved Like a State
Before America had a central bank it had Pierpont Morgan, who ended the Panic of 1907 by locking the city's bankers in his library until they subscribed to a rescue. Ron Chernow's history follows the house from George Peabody's London office in 1838 through that imperial noon, when Morgan partners financed governments and arranged industries, to the Glass-Steagall break-up of the 1930s that split the bank into the modern Morgan firms.
Published in 1990, it was Chernow's first book and won the National Book Award for Nonfiction. It remains the standard account of American finance's formative century, told through the one institution that, for a while, actually was the system it served.
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