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J. S. Morgan’s core business was short-term trade finance, “discounting bills,” as it was called. Its primary customers were American cotton or iron merchants. They typically sold their goods on credit, taking back a piece of paper, or “bill of exchange,” which could be cashed at a specific bank such as Barings at some set future date. If a merchan
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
In 1946, President Truman appointed, by executive order, a blue-ribbon committee to study the civil rights problem in all its aspects, and the committee’s report, “To Secure These Rights,” called not only for a permanent FEPC, abolition of the poll tax, and federal laws against lynchings but also for the establishment of a permanent Commission on C
... See moreRobert A. Caro • Master of the Senate: The Years of Lyndon Johnson III
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