Entries by Addison Quale

Why did JP Morgan say “Money is gold, nothing else”?

August 3, 2018 /3 Comments/by

There’s a story about JP Morgan and Andrew Carnegie, from the Panic of 1873. Carnegie was a client of the Morgans, with $50,000 on deposit plus some stocks. After selling his $10,000 interest in a railroad, Carnegie supposedly came by the office to pick up a check for $60,000. To his surprise, JP Morgan handed […]