Morgan family

The Morgan family was an American financial and banking dynasty, which became prominent in the U.S. and throughout the world in the late 19th century and early 20th century. Members of the family amassed an immense fortune over the generations, primarily through the noted work of John Pierpont (J. P.) Morgan (1837–1913).

Morgan members were notable for dominating the banking industry during their time. J.P. Morgan was the de facto leader of this dynasty, having been the most prominent businessman in America at the turn of the century. He revolutionized numerous industries, including electricity, railroad, and steel. Through his business methods, he was highly successful in asserting his power as one of the most influential businessmen in America. Historians describe the Morgan family along with its web of partners to be part of the large American banking empire known as the House of Morgan. It is difficult to place an exact beginning and end date on the dynasty. However, many scholars attribute the death of J.P. Morgan to the end of the banking dynasty. American journalist and historian Ron Chernow wrote about the prominence of this dynasty under J.S. Morgan and J.P. Morgan. In The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, he chronicles the lives of the Morgans, whose lives are “encrusted with legend... ripe with mystery, [and] exposed to such bitter polemics”.

The Morgan family originated in Wales during the 17th century. Born in Llandaff, Glamorgan County, Miles Morgan was the son of William Morgan. At the age of 20, Miles sailed for America, along with his brothers, John and James, seeking new opportunities in the New World. Arriving in April 1636, he landed in the Massachusetts Bay Colony. Settling in Roxbury and later Springfield, Massachusetts, Miles met Prudence Gilbert, his future wife. Miles was a soldier during the sack of Springfield. He later worked on a farm and lived a comfortable life. He continued living in the city until the age of eighty-three.

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