In my History class, during our Industrial Revolution unit, my group members and I put the Industrialist J.P. Morgan on trial. J.P. Morgan was a financier, who combined companies to save them from bankruptcy. We set up a mock trial, with three witnesses, a prosecutor, and a defense attorney. The goal was to answer the question, Was J.P. Morgan a Captain of Industry or a Robber Baron? I was the defense attorney, and my role was to support the claim that he was a captain of industry. Some of my supporting details included that he prevented several economic depressions by helping the government, was devoted to Episcopal church, and helped to construct the Cathedral of St. John the Divine. I also used evidence from the Pujo hearings interview of Mr. Morgan, which proved that he valued character over wealth when considering to whom to loan his money. At the end of the trial, the jury, made up of other students, gave the verdict in favor of my claim. Below is my script outline for the trial.

Opening Statement:

Good morning, ladies and gentlemen. I am June Patton, the defense attorney, representing the defendant. We are here today to determine if J.P. Morgan’s actions define him as a Robber Baron or Captain of Industry. Mr. Morgan has helped several successful businesses through finance, donated his wealth and belongings to various charities and churches, stabilized the country’s stock market, and allowed the government to use his wealth to prevent several economic crises. Your honor, members of the jury, I hope that by the end of this trial, you will favor my opinion that J.P. Morgan is indeed a Captain of Industry.

J.P. Morgan Questions:

• Mr. Morgan, is it true that you have accumulated a large collection of artworks, sculptures, and precious stones?
• What do you plan to do with these possessions?
• Mr. Morgan, is the statement true that you were dedicated to the welfare of the Episcopal Church?
• ;In 1892 alone, you contributed $500,000 to the construction of the Cathedral of St. John the Divine. Did you not?
• Would you say that you carried out these philanthropic endeavors because of the money or recognition you may have received?

That is all, thank you, Mr. Morgan.

Grover Cleveland Questions:

• President Cleveland, during the government bond issue in 1895, did the defendant support the government?
• How much money did he back the government with in this instance?
• Was this money beneficial in preventing an economic depression?
• Mr. President, after a stock market crash near the beginning of the 1900s, the defendant provided the financial material needed to rebuild the economy. Is this statement true?
• So, in summary, you would say that the contributions of Mr. Morgan benefited and had a positive impact on the country’s economy?

Thank you, Mr. President, that is all.

Arsene Pujo Questions:

• Mr. Pujo, you investigated the industrialist J.P. Morgan, did you not?
• During the Pujo Hearings, the defendant Mr. Morgan was questioned by Mr. Samuel Untermyer. One of the first questions asked was, “Is not commercial credit based primarily on money or property?” This is true, Mr. Pujo?
• In response to said question, the defendant stated, “No sir, the first thing is character. Before money or anything else. Money cannot buy it.” Is this correct?
• Later in the interview, the defendant made the following statement: “I have known a man to come into my office, and I gave him a check for a million dollars when I knew he had not a cent in the world.” He adds that this is what has occurred in “a good many” cases. Do you believe that this claim is true?

Thank you Mr. Pujo, no further questions.

Closing Statement:

Honorable judge and jury members, Mr, Morgan is not a robber baron. The prosecutor argued against my valid claim. Mrs. King used evidence that the Pujo Committee concluded that the defendant was financing his client’s money to benefit himself. However, this conclusion cannot be true. The interview completed during the Pujo Hearings implied that Mr. Morgan was very generous and that he considered his clients’ character before their wealth. This information was additionally confirmed by Mr. Pujo himself and suggests that J.P Morgan did not finance money for his benefit. In conclusion, I believe that the industrialist J.P. Morgan is to be considered a Captain of Industry. As shown in this case alone, the defendant has had a positive and beneficial impact on our country. In addition to preventing several economic depressions, the defendant was devoted to art and religion and helped to fund numerous churches and schools. He also considered character over money and property and loaned his wealth generously. Your honor and members of the jury, please consider my opinion that John Pierpont Morgan, indeed, is a Captain of Industry. Thank you for your time.

Bibliography

United States. Congress. House. Committee on Banking and Currency, 1865-1974 , Pujo, Arsène Paulin, 1861-1939 and Sixty-Second Congress, 1911-1913. “Part 15, Pages 1011-1101” in Money Trust Investigation : Investigation of Financial and Monetary Conditions in the United States Under House Resolutions Nos. 429 and 504 Before a Subcommittee of the Committee on Banking and Currency, House of Representatives, (1912-1913)(December 19, 1912). https://fraser.stlouisfed.org/title/80/item/23671, accessed on October 17, 2019.

Fraser. “Uncurrent Events: The Pujo Committee.” Inside FRASER, 2019, insidefraser.stlouisfed.org/2019/08/the-pujo-committee/.

Kenton, Will. “Pujo Committee.” Investopedia, Investopedia, 12 Mar. 2019, www.investopedia.com/terms/p/pujo-committee.asp.

“J. P. Morgan.” Default, www.philanthropyroundtable.org/almanac/people/hall-of-fame/detail/j.-p.-morgan.