What Happened to America's Gilded Age Families | J.P. Morgan
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- čas přidán 17. 12. 2022
- It is finally time to get back to this series!
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Email: a.r.beemanwhite@gmail.com - Zábava
I like her facial features. They look like they would be nice to draw because of the depth of her cheekbones and jaw from the front. If i was still huge on drawing, id love to draw this person.
Well, if you do draw me, I’d love to see it.
Sometimes, Old Money tries to stay inconspicuous. They may still have money, but act quietly behind the scenes.
They don't go building massive castles on 5th avenue.
@@ericalbany No, that was for the first generation. The rest eschewed publicity as most "Old Guard" still do. There is still a contingent for whom privacy is prized...as opposed to becoming social media stars.
JP was worth a lot more than on paper. He was evil but brilliant. While studying American Economics I found that he had his hands in everything and made sure that his kids didn’t have to pay taxes on much of his wealth. Also the Federal Reserve had a lot to do with Morgan money. He created situations that he would benefit from.
You are right. He was extraordinary man. We should bring back hard core slavery.
I was an underwriter at Etna in 1990 when Aetna fire was bought out by Travelers
Plymouth (the Pilgrims) was Plymouth Colony - Boston (the Puritans) was the Massachusetts Bay Colony. Yes, both are now part of MA, but were separate colonies back then. It seems that the real impetus behind J. Pierpont Morgan (and pretty much his father) was their partnership with Philadelphia banker Anthony J. Drexel who was the head of the firm Drexel, Morgan & Co. until his 1893 death when Morgan took over.(note: one of his descendants married John Jacob Astor IV's only grandchild). How astronomically wealthy was J Pierpont Morgan? When his estate size of $80 Million was revealed, Andrew Carnegie was reputed to have quipped: "And all this time we thought he was rich." He also had a bad investment that almost killed him: Int'l Mercantile Marine which owned the White Star Line. Morgan was booked on the maiden voyage of its new ship Titanic, but cancelled at the last minute (as did Alfred Gwynne Vanderbilt). The Glass-Steagall Act split commercial banking (J.P. Morgan & Co) from investment banking (Morgan-Stanley).
I'll disagree here in that Morgan was a major shareholder of the White Star Line, who built the 3 super liners Brittanic, Olympic and Titanic. The Olympic was launched first and had a serious accident that... while still serviceable...Lloyd's of London wouldn't cover any future claims on her. Proof is now coming out that it was the Olympic that was relaunched as the Titanic, aboard which J.P invited all his peers (Benjamin Guggenheim, Isadore Strauss, John Jacob Astor, Harry Widener and more) whom objected to the forming of the Fed, then claimed a last minute "emergency" ...debarking before she sailed. Capt. Smith has been scrutinized to the point that many modern experts state he deliberately operated with intent to sink her. Barely 48 hours later after she sank... the Federal Reserve was formed... there are no coincidences.
Fantastic video. well spoken direct and to the point. Loved learning about JP Morgan being shot twice after someone broke into his mansion and that he recovered.
So glad for your channel. I accidenty came across it. Have always been interested in this period of time and the clothes. :)
Have you considered that the family history may be "scrubbed" in order to protect their privacy? Certainly they could afford to do so.
Exactly. I was thinking the same thing.
I have a suspicion that there are extremely wealthy people from way back who are wealthy enough to afford having their existence completely removed from detection and history. I"m thinking about how Howard Hughs was able to eventually afford a 'secrecy machine' that kept him completely out of the public eye for the other half of his life. That turned against him when he become truly mentally ill. If no one knows about you, anything can happen to you and no one would know. This privacy thing is a double edged sword. Then there's Andrew Carnegie. He donated a lot of money to found a lot of libraries all over the world. But that seems to have been an attempt to dry up the market for books that were critical of him, because libraries are the main customers for new books. The libraries he brought into existence would not bite the hand that gave them life. And thus he made sure that his version of his life would be the one that prevailed.
I believe it is John Adam Morgan who currently reside on a private island off Stamford CT. Not quite certain if he was the one who had a brief lack of judgement marrying Sonia of Housewives of NYC fame.
@@chipcook5346 True, and a well managed trust of a mere 15-20M can give you a pleasant lifestyle out of view.
@@cynthiaclark8050 He was the one. lol
NIKOLA Tesla was the forunner of the Imperial Webway project
Unlike his competitors Edison and Westinghouse, he wanted to give away his inventions to the world...which made him a bad investment to robber barons like J.P! Much more on Tesla will soon be disclosed.
Oh I have MISSED this series!!
As a family historian, I can well imagine what you waded through to compose these bios. Kudos for your research. I love love this stuff!
I think it's important people understand the history around the fashion that you present. It helps people get a sense of what the world was like for someone inhabiting those clothes. Thank you. 🙂
Love your channel!!
A fascinating expose into a very interesting American family. I love these videos, they go a long way in explaining how we have gotten to where we are as a nation. Very well done, Adelaide, thank you.
I have thoroughly enjoyed your Gilded Age videos. Please don't stop.
More to come!
Your content gets more interesting every time you post.
Aww, thank you!
“The House of Morgan” by Ron Chernow is a great book. Chernow is an incredible biographer with careful attention to detail. He’s also the author of Alexander Hamilton, which Lin Manuel Miranda read during a vacation and prompted him to write Hamilton the musical. Chernow’s books are THAT good.
So is "The Creature From Jekyll Island"!
Thank you for this excellent presentation.
You're very welcome!
Great videos. I love the history lessons with your unique style. I do hope you cover the other families. Perhaps, you could show the audience a 400 wealthy families timeline. Thank you 😊. Cheers 😉🌹
She knows nothing of history. Sorry
New York Times, Oct. 26, 1907, noted in connection with J.P. Morgan's actions during the Panic of 1907, "In conversation with the New York Times correspondent, Lord Rothschild paid a high tribute to J. P. Morgan for his efforts in the present financial juncture in New York. 'He is worthy of his reputation as a great financier and a man of wonders. His latest action fills one with admiration and respect for him.'"
This is the only recorded instance when a Rothschild praised any banker outside of his own family.
Do your research
Hope she get to the DuPont family soon, they fell far and hard.
What he did was use his moral and business authority to persuade a banking consortium to provide credit when the panic of 1907 had a caused a credit shortage that froze the market.
Best line goes to John D Rockefeller - on seeing Morgan's estate probate - "and to think, he wasn't a wealthy man".
Wonderful information.
Your field of study is very interesting to any student of American History, or economic history. It's always pertinent to know where the money goes, no matter the era. A critique, no excuses or digression. Just get to the subject, and "boring" may depend upon the listener. I, for one, read a lot of history, and am ready, able, and willing to hear the mundane. You see, you never know when associative thinking will occur, and the "furniture" that floats around inside the brain can suddenly find a place to sit or connect. Thanks for your presentations.
At the olympics in Helsinki Morgan was one of six crew members. The others were Herman Whiton, Emelyn Whiton, Julian Roosevelt, Eric Ridder and Everard Endt. The yacht was called Llanoria.
Which Morgan...not easy to keep track!
I have absolutely no idea.
When is your next one? Don't stop now there's soooooooo many gilded age families to chose from not only the famous more well known ones keep it going 😊
Early May. DuPont.
@@AdelaideBeemanWhite should think about doing a mini series on the more unknown named dollar princesses that married lesser titles be good too 😀
The Morgan who had three children and was in the Olympics was married to Sonja Morgan Real House wives of New York. I am not sure how much money he has left. He has expensivie divorces. He had a house in connecticut he was trying to sell. He claims he has no money left.
I’ve never understood wealthy people who take up divorce as a hobby.
Ah, that must be the place on the island off Stamford. His brother...a symphonic conductor and gay....passed a few years back.
@@LlyleHunter Too impulsive!
I'm wondering if those "average joes" of the family know the wealthy lasting son 🤔 Interesting material, thank you Ade!
Where there's a will...there's a relative, lol!
Three reasons why Aetna wound up being bought out include the two times that it build-out Geico and the fact that Michael Milken with his art Investments for the Aetna went bust
Wow! This is so educational. I live in a country which takes great pride in the education system. I know of the London fire, but I have never heard of the New York fire.
Thanks for sharing!
Yay! Another history lesson 🥰🥰🥰
Instead of squandered, you might have used dissipated.
I might be wrong but I believe Quincy Adams Morgan might be the daughter of infamous Real Housewife of NY Sonja Morgan. I thought the ex pled poverty at some point and couldn’t support the child the way that was decreed in the divorce agreement so maybe he was pleading poverty to punish a very naughty ex-wife. ( Watch the old shows and you’ll see. I don’t think she’s on anymore. ) There was also a Radziwill on during these years although she was much more reputable.
The wealthy of today should view the Morgan's story as a cautionary tale...they won't but they should. Great content!
Jerry didn't give me any money. I don't know.
You might be interested in the competition between Carnegie, Morgan, and Rockefeller.
I heard that the thing JP Morgan really did for the country was be the Federal Reserve System before we had a Federal Reserve System. That meant he had a lot o power, but it also meant we didn't have a depression we could have had.
can you do a video on olerichs family of guilded age
He made the FED, so who is incharge of that now?
Would have been nice to hear about Anne Morgan...
I love your earrings and period jewerly. :)
Thank you! 😊
Generally, your "old money" types keep a low profile and do not advertise their wealth.
Just found your channel, you, my dear are quite charming. Greetings from Frankfort Indiana ❤
Oh thank you!
Whoot Whoot!
John Adams Morgan (born 1930) is known for being married to Sonja Morgan for a few years. Their daughter is Quincy Adams Morgan. Sonja Morgan was his fourth wife of five wives. He married again (around 2010 I think ).
Just a useless bit of trivia.
Jeez, didn't realize it was 5 to date!
@@cynthiaclark8050 he likes wedding cake.
Most of the old money are set up in trusts. I know of couple of families that dont receive their money until they reach 30 years of age. Plus, they must have a job or a stay at home parent with children. There is an overseer who make sure the rules are being obey. They also have the ability to cut you off from the trust. I know one overseer, who comes unannounced for a visit.
We have a family legend about JP Morgan (not sure which one but probably it was Jr or his son III since my Grandma was a little girl when this happened) stopping at our family fruit stand while on vacation with his family seeing Zion National Park. As I recall Grandma said he bought two melons. One for the children to share. The second one he gave to his wife and he either eat a half or a quarter of that one (my memory is hazy to the details there) but my Grandma who was a little girl at the time was amazed that was all he bought and what he did with it and just thought “so that’s how he got so rich”😮 😂😂😂 Her little girl impression was also that he seemed really normal buying fruit on a hot day and that he was a nice daddy and husband.
JP Morgan had a terribly disfigured nose. It was never depicted in any portraits of him, and is only visible in photographs.
i enjoy your videos and I hope you do more of them. J/P/
Anne built a farm/estate called "Uplands Farm" near me in Cold Spring Harbor NY, the farm is now with the Nature Conservancy and the house ...with an addition...is currently on the market.
Do you have published wills in the USA?we 🇬🇧 can find what people left when they died which gives a good guide..to worth..
Yes, the clerk's office of every County.
Your diction and pronunciation is excellent, such that I can barely hear your American accent.
I’m from Maine, so I speak with a New England accent.
People want the right to create wealth and pass it on to their heirs. Often it's a wasted effort if the grand children or great children fritter the wealth away. I think a good education and teaching an ethic of honesty and hard work and fair dealing would be a more sure legacy to leave.
Yes, an excellent example of good generational wealth management is the Phipps family. Some individuals will do better than others...as in any family...but either by iron-clad trusts, education or both...the family overall has retained wealth.
I loved Sonja Morgan on Real Housewives of New York 🤣
She made the old guard cringe!
THEY GOT RICH BY SCREWING THE WORKING FAMILIES, THINKING THEY HAD THIS GOD GIVEN TALENT GOT OLD CLOSER TO DEATH AND STARTED TRYING TO BUY THEIR WAY INTO HEAVEN. THE LIBRARIES, WILDLIFE RESERVES, ETC. DID IT WORK?
Ok, no need to scream! And FYI, many of their descendants went heavy on philanthropy to assuage their guilt...so....
Your assumption that not being able to find the net worth of some of the Morgan descendants is specious. On the contrary, you can probably assume the descendants remain wealthy albeit not super rich.
I suppose it depends on what one means by wealth. I’m sure that they are richer than I will ever be, but compared to their 19th century counterparts. . .
I vote for Rothschild
I'm fond of the decadence part.
♥️
Sonya Morgan….
Egads....
they rich heard of morgan and stanley. lol.
Do the Rothschild clan, yet be careful.
But they're more ancient family than gilded age family. Which is why they have so much unbridled power.
VERY shady family
@@HattieMcDanielonaMoon They've recently had their wings clipped...virtually all their massive RE holdings have been liquidated in the last few years...and it wasn't their choosing!
Birds of a feather ,,, flock together and the rich have saved society many times!!! Remember if it wasn’t for a VERY WEALTHY JEWISH MAN!!! AMERICA would have NEVER EXISTED!!
Maybe the family members are living under the radar with trust fund money. In this day and age it’s safer not to flaunt one’s wealth and to remain “unknown” if you want to enjoy your good fortune with privacy.
Especially nowadays! Who wants target on their back???
Its a common moral trap to believe that giving wealth away is a virtue, it is not. It is a zero sum, one time game (stealing has these same characteristics) and any idiot can do it. Creating wealth is the true virtue where many more people profit for continuing amounts of time.
Yes, teach a man to fish...
John Adams Morgan was married to Real Housewives Gin-soaked Sonja Morgan. lol en.wikipedia.org/wiki/John_Adams_Morgan