Morgan, J

Sep 11, 2010 · In 1895 Grover Cleveland was failing in his efforts to keep the nation on the gold standard as its gold reserves dwindled. Morgan, however, organized a loan to the federal government of $62 million in gold, which restored confidence, stanched the outflow of gold from the treasury, saved the gold standard, and netted his firm a $295,000 profit. ................
................