Part 1 Chapter 1 Scrooge | Part 1 Chapter 2 Polonius
• The book opens in 1835 at a time of the building of railroads, canals, and turnpikes in the US, financed with bonds sold mostly in London.
• London is the center of the financial world.
• American states are defaulting on their bond interest payments.
• George Peabody works out a deal between the American debtors and London creditors.
• Peabody moves to London, opens a merchant bank in 1838 and specializes in American state bonds.
• Since Peabody is a bachelor, he looks for a partner and brings in Junius Morgan.
• Morgan takes over Peabody's company when he retires in 1864, but Peabody won't let him keep the name.
• Morgan renames the company J.S. Morgan and Company.
• The Morgans are a wealthy American family.
• Junius Morgan marries Juliet Pierpont and they have a son John Pierpont Morgan born in 1837.
• Junius moves to London and Pierpont provides his father...
This section contains 5,388 words
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