Download PDF The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance By Ron Chernow

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The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance-Ron Chernow

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Published to critical acclaim twenty years ago, and now considered a classic, The House of Morgan is the most ambitious history ever written about American finance. It is a rich, panoramic story of four generations of Morgans and the powerful, secretive firms they spawned, ones that would transform the modern financial world. Tracing the trajectory of J. P. Morgan’s empire from its obscure beginnings in Victorian London to the financial crisis of 1987, acclaimed author Ron Chernow paints a fascinating portrait of the family’s private saga and the rarefied world of the American and British elite in which they moved—a world that included Charles Lindbergh, Henry Ford, Franklin Roosevelt, Nancy Astor, and Winston Churchill. A masterpiece of financial history—it was awarded the 1990 National Book Award for Nonfiction and selected by the Modern Library as one of the 100 Best Nonfiction Books of the Twentieth Century—The House of Morgan is a compelling account of a remarkable institution and the men who ran it, and an essential book for understanding the money and power behind the major historical events of the last 150 years.

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The House of Morgan is truly one of the best written and most interesting histories I’ve read. The strong secondary subject matter is the economic, political and diplomatic history of the United States (circa 1870 to the late 1980s), which actually takes primary stage for much of the book. Chernow had full access to an historical treasure trove of Morgan documents relating to their dealings with U.S. Presidents, nefarious dictators, various and sundry “robber barons,” the Federal Reserve bank, the Bank of England, Continental and Asian state banks, a wide spectrum of politicians from Japan, China, Europe, Mexico and South America — let alone the United States, Charles Lindberg, and a slew of other unusual personages. At its core, it’s a history of high finance, but Chernow’s mastery weaves what could be dry subject matter into the “movement and tension of an epic novel,” to quote the NY Times.
This wasn’t my favorite of Ron Chernow’s books but it is well researched. There was more detail than I really wanted to know. I loved the other three books I read that he wrote—Hamilton, Washington, and Grant—I highly recommend those. If you want to know all about banking and JP Morgan then this book is worth reading.

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