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Letters From Readers — August 2006 Civil War Times MagazineCWT Issues | 0 comments | Print This Post | Email This Post More On J.P. Morgan First, you quoted Jean Strouse from her biography of J.P. Morgan, "R. Gordon Wasson, a Morgan partner who later wrote a book about these events, claimed that Pierpont had not realized Stevens was selling the government its own arms, and that once he found out, he could no longer stomach the deal." This is a somewhat inaccurate reading by Strouse of Wasson’s book, it seems to me. Second, your characterization of Morgan’s involvement as "fleecing the government" is severe, I believe. Morgan loaned $20,000 to a Mr. Simon Stevens, and because Stevens had no independent credit standing, Morgan held the carbines as collateral, not General John C. Frémont’s government purchase telegrams as Strouse contends. Morgan and Stevens agreed that when a buyer was found, the buyer would remit funds to Morgan to be applied to the loan. Morgan received $26,343.54 and so made only a little more than $6,000 on the deal. I doubt that any of this will change the minds of those who nurture an anti-business bias. Wasson listed a number of Socialist, Communist and anti-capitalist writers who misrepresented the Hall Carbine episode in their writings. Even the quality of the Hall arms was misrepresented, with Carl Sandburg stating (incorrectly) that they shot the thumbs off the soldiers using them. To this group of writers it was not enough to declare that Morgan got his start by swindling the government — they believe he sold them worthless arms to boot. Thomas K. Tate Credit Where Credit Is Due Stephen W. Sears The Sorry Stone Affair Stone was given no information as to the reason for his arrest. No charges were ever preferred against him, and he was released 189 days later, after a personal appeal to President Abraham Lincoln in July 1862. We can only speculate why Secretary of War Edwin Stanton issued the order, on behalf of the Joint Committee on the Conduct of the War, for Stone’s arrest and eventual release. Both Stanton and the committee of Radical Republicans were avidly opposed to Stone’s superior, General George B. McClellan, who exonerated Stone almost immediately. Stone was shifted to a minor theater of the war — the Gulf — where he served as chief of staff under General Nathaniel Banks from May 1863 to April of the following year, when without apparent reason, he was removed and his volunteer’s commission was taken away. Ross Tucker Tags: Civil War Times
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