John Pierpont Morgan (1837-1913) was one of the wealthiest men in America during the 19th century, and was acknowledged as the most powerful banker on Wall Street. As a young man he went into the family business, showing early on definite attributes as a businessman. What was one example of such traits?
Answer: During the American Civil War, in his 20s, Morgan bought 5,000 defective rifles from an arsenal at $3.50 each and resold them to a field general for $22 each. The rifles were found to be defective and some shot off the thumbs of the soldiers firing them.
Source: New England Historical Society
