Morgan, Wilson, and War

Wall Street, Banks, and American Foreign Policy

Tags: Cronyism and Corporatism, U.S. History, War and Foreign Policy

09/03/2026 Murray N. Rothbard

Rothbard shows the Progressive Party ploy that delivered Wilson the presidency, the Morgan men who surrounded him, and the influence of Colonel House. With the Morgan empire financially precarious by 1914, the firm became fiscal agent for Britain and France; Rothbard argues American entry, which foreclosed a negotiated peace, was the most fateful act of the century.

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