Morgan Quotes
Morgan had arranged to lend the government $36 million in Gold when the national treasury was virtually bankrupt.
In the Cleveland administration the government needed money and went to J. P. Morgan and other bankers for assistance. The government got the money at extremely unfavorable terms and Cleveland was roundly criticized for only consulting with the bankers and Wall Street houses, that ended up as the beneficiaries of the arrangement:
Morgan supported the strikers because they were abused, paid unfair wages, and were made to work in unsafe conditions. However, she believed that reform was needed and not class warfare which pitted workers and laborers against the bosses and owners. However, at the time the bosses and owners did not believe that there should be any reform and the nation was in decades of class warfare that has diminished but not ended into the 21st century. The clothing workers finally were offered higher pay and somewhat better working conditions but the owners would not recognize their union and their right to collectively bargain. At this point Morgan ceased supporting the workers actively.
