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JP Morgan Saves Wall Street | A Family Affair | 1

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Pierpont and the Hall Carbine Affairs

Pierpont financed Simon schemes to buy rifles from a Union Army General And then turn around and sell them at an inflated price back to the Union Army. His father fired off critical letters from London Urging Pierpont to change his ways Moving forward Pierpont's father wanted his son to behave in a way that would safeguard his reputation and career But the damage had already been done When news of the deal was leaked to newspapers Pierpont was accused of war profiteering. Allegations that he was unpatriotic and only looking after himself heightened as many thought it made the battle for the Union a rich man's war and a poor man's fight. In September 1861 Pier

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