Junius Morgan

Junius Morgan.

Junius Spencer Morgan (1813 - 1890) was a North American financier based in New York City and a member of the Morgan family of financiers, also known as the House of Morgan. He was the son of Joseph Morgan III and the father of J.P. Morgan.

Junius Morgan's father was Joseph Morgan III, a New England businessman and financier who was one of the first to establish a major bank, the Bank of New York, on Broad Street in New York City. By 1819 the Bank of New York had opened a branch in London and within twenty years had become one of the most important banks in the British Empire, often working in conjuction with the Rothschilds. The elder Morgan played a key role in the creation of the Liberal Party in the Northern Confederation in 1820. Together with Malcolm McGregor of Pennsylvania he helped organize the Liberal victory in 1821 that made Daniel Webster the Governor of the Northern Confederation.

Junius Morgan was the head of the Bank of New York during the Panic of 1836 and was able to steer it through the economic collapse that followed in the N.C. He continued as head of the C.N.A. branch of the House of Morgan while his son J.P. Morgan became head of the British branch.