Edwin Barber Morgan
Encyclopedia
Edwin Barber Morgan was an entrepreneur and politician from the Finger Lakes region of western New York. He was the first president of Wells Fargo & Company, founder of the United States Express Company, and director of American Express
Company. He was elected to the United States House of Representatives
from New York
and served for three terms.
, the eldest son of Christopher and Nancy (Barber) Morgan. He was a first cousin of Edwin Denison Morgan, governor of New York
in 1859-62. The family was descended from James Morgan, a Welshman who came to Massachusetts
about 1636 and settled in New London, Connecticut
about 1650.
Educated in the local schools, Morgan took over his father's mercantile business in 1827.
, and a starch-making business at Oswego, New York
.
He was a director and first president of Wells Fargo & Company, organized March 18, 1852, by his fellow townsman Henry Wells
, who had first founded American Express
in 1850 with two associates. Wells Fargo was developed specifically to offer express mail, shipping and banking services to California
, where thousands of people were being drawn as the Gold Rush
spurred migration and development.
In 1854 Morgan founded the United States Express Company to provide similar express mail services for the Southern states. It connected with Wells Fargo at St. Louis, Missouri
.
Also, from about this time until his death in 1881, Morgan was a director of the American Express
Company, which had been founded in Albany in 1850 to offer express mail and banking services throughout New York state. By the time Morgan became involved, American Express had its headquarters in Manhattan
.
Morgan was elected to Congress in 1852 as a Whig
, in 1854 as an Opposition Party
candidate, and in 1856 as a Republican
. He represented New York's 25th congressional district
from March 4, 1853 until March 3, 1859. In 1855-56 he was chairman of the Committee on Patents. Morgan was one of the Members of Congress who rescued Charles Sumner
from the assault by Preston Brooks
on May 22, 1856.
Early in his Congressional service, Morgan resigned as president of Wells Fargo but remained a member of the board of directors. He was not a candidate for reelection in 1858. On July 20, 1858, he resigned his seat on the Wells Fargo board, and N.H. Stockwell was elected to succeed him. In November 1858, however, Thomas M. Janes resigned, and Morgan was again elected to the board.
, Morgan was active in raising and equipping regiments from New York, for which he received the title of colonel.
In the postwar period he became active with colleges. He was a trustee of Cornell University
from 1865 until 1874. Working with his friend Henry Wells to found a college for women, he was a charter trustee of Wells College
from 1868 until 1881, where he served as president of the board from 1878 onward. He was also a trustee of the Auburn Theological Seminary
from 1870 to 1881. He supported the secondary school of Cayuga Lake Academy in Aurora as well.
Morgan was a director of Wells Fargo until the beginning of 1867. After a brief retirement, he was elected to the board in 1868 and served until 1870.
An original shareholder of The New York Times, Morgan came to the paper's rescue in the midst of its fight against William Marcy Tweed in 1871. George Jones, the editor, feared that ownership of the paper would pass into unfriendly hands. For $375,000, Morgan purchased enough stock to avert this, and contributed materially to Tweed's eventual downfall.
Morgan was physically and mentally quick-moving and incessantly active, even in old age. He died at Aurora on October 13, 1881, at the age of 75. Interment was at Oak Glen Cemetery in Aurora.
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
Company. He was elected to the United States House of Representatives
United States House of Representatives
The United States House of Representatives is one of the two Houses of the United States Congress, the bicameral legislature which also includes the Senate.The composition and powers of the House are established in Article One of the Constitution...
from New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
and served for three terms.
Early life and education
Edwin Barber Morgan was born in Aurora, New YorkAurora, Cayuga County, New York
Aurora is a village and college town in Cayuga County, in the Town of Ledyard, north of Ithaca, New York, United States. The village had a population of 720 at the 2000 census, of which more than 400 were college students....
, the eldest son of Christopher and Nancy (Barber) Morgan. He was a first cousin of Edwin Denison Morgan, governor of New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
in 1859-62. The family was descended from James Morgan, a Welshman who came to Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
about 1636 and settled in New London, Connecticut
New London, Connecticut
New London is a seaport city and a port of entry on the northeast coast of the United States.It is located at the mouth of the Thames River in New London County, southeastern Connecticut....
about 1650.
Educated in the local schools, Morgan took over his father's mercantile business in 1827.
Marriage and family
On September 27, 1829, Morgan married Charlotte Fidelia Wood of Aurora. The couple were the parents of a son and a daughter.Career
Morgan soon established a large enterprise in buying and shipping agricultural products, and also in boat-building, in which he was joined by his brothers. With his brothers, he also had extensive gypsum beds at Grand Rapids, MichiganGrand Rapids, Michigan
Grand Rapids is a city in the U.S. state of Michigan. The city is located on the Grand River about 40 miles east of Lake Michigan. As of the 2010 census, the city population was 188,040. In 2010, the Grand Rapids metropolitan area had a population of 774,160 and a combined statistical area, Grand...
, and a starch-making business at Oswego, New York
Oswego, New York
Oswego is a city in Oswego County, New York, United States. The population was 18,142 at the 2010 census. Oswego is located on Lake Ontario in north-central New York and promotes itself as "The Port City of Central New York"...
.
He was a director and first president of Wells Fargo & Company, organized March 18, 1852, by his fellow townsman Henry Wells
Henry Wells
Henry Wells was an American businessman important in the history of both the American Express Company and Wells Fargo & Company.-Early life:...
, who had first founded American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
in 1850 with two associates. Wells Fargo was developed specifically to offer express mail, shipping and banking services to California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, where thousands of people were being drawn as the Gold Rush
Gold rush
A gold rush is a period of feverish migration of workers to an area that has had a dramatic discovery of gold. Major gold rushes took place in the 19th century in Australia, Brazil, Canada, South Africa, and the United States, while smaller gold rushes took place elsewhere.In the 19th and early...
spurred migration and development.
In 1854 Morgan founded the United States Express Company to provide similar express mail services for the Southern states. It connected with Wells Fargo at St. Louis, Missouri
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
.
Also, from about this time until his death in 1881, Morgan was a director of the American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
Company, which had been founded in Albany in 1850 to offer express mail and banking services throughout New York state. By the time Morgan became involved, American Express had its headquarters in Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
.
Morgan was elected to Congress in 1852 as a Whig
Whig Party (United States)
The Whig Party was a political party of the United States during the era of Jacksonian democracy. Considered integral to the Second Party System and operating from the early 1830s to the mid-1850s, the party was formed in opposition to the policies of President Andrew Jackson and his Democratic...
, in 1854 as an Opposition Party
Opposition Party (United States)
The Opposition Party in the United States is a label with two different applications in Congressional history, as a majority party in Congress 1854-58, and as a Third Party in the South 1858-1860....
candidate, and in 1856 as a Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
. He represented New York's 25th congressional district
New York's 25th congressional district
The 25th Congressional District of New York is a congressional district for the United States House of Representatives that stretches from Syracuse to the northeastern suburbs of Rochester. The district comprises all of Onondaga and Wayne counties, the northernmost portion of Cayuga County and the...
from March 4, 1853 until March 3, 1859. In 1855-56 he was chairman of the Committee on Patents. Morgan was one of the Members of Congress who rescued Charles Sumner
Charles Sumner
Charles Sumner was an American politician and senator from Massachusetts. An academic lawyer and a powerful orator, Sumner was the leader of the antislavery forces in Massachusetts and a leader of the Radical Republicans in the United States Senate during the American Civil War and Reconstruction,...
from the assault by Preston Brooks
Preston Brooks
Preston Smith Brooks was a Democratic Congressman from South Carolina. Brooks is primarily remembered for his severe beating of Senator Charles Sumner on the floor of the United States Senate with a gutta-percha cane, delivered in response to an anti-slavery speech in which Sumner compared Brooks'...
on May 22, 1856.
Early in his Congressional service, Morgan resigned as president of Wells Fargo but remained a member of the board of directors. He was not a candidate for reelection in 1858. On July 20, 1858, he resigned his seat on the Wells Fargo board, and N.H. Stockwell was elected to succeed him. In November 1858, however, Thomas M. Janes resigned, and Morgan was again elected to the board.
Later years
During the American Civil WarAmerican Civil War
The American Civil War was a civil war fought in the United States of America. In response to the election of Abraham Lincoln as President of the United States, 11 southern slave states declared their secession from the United States and formed the Confederate States of America ; the other 25...
, Morgan was active in raising and equipping regiments from New York, for which he received the title of colonel.
In the postwar period he became active with colleges. He was a trustee of Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
from 1865 until 1874. Working with his friend Henry Wells to found a college for women, he was a charter trustee of Wells College
Wells College
Wells College is a private coeducational liberal arts college located in Aurora, Cayuga County, New York, on the eastern shore of Cayuga Lake. Initially an all-women's institution, Wells became a co-ed college in Fall 2005....
from 1868 until 1881, where he served as president of the board from 1878 onward. He was also a trustee of the Auburn Theological Seminary
Auburn Theological Seminary
Auburn Theological Seminary was founded in 1818. Auburn Theological Seminary focuses on religious leadership development, movement-building, and research. Auburn is based in New York City and exists in covenant with the Presbyterian Church ....
from 1870 to 1881. He supported the secondary school of Cayuga Lake Academy in Aurora as well.
Morgan was a director of Wells Fargo until the beginning of 1867. After a brief retirement, he was elected to the board in 1868 and served until 1870.
An original shareholder of The New York Times, Morgan came to the paper's rescue in the midst of its fight against William Marcy Tweed in 1871. George Jones, the editor, feared that ownership of the paper would pass into unfriendly hands. For $375,000, Morgan purchased enough stock to avert this, and contributed materially to Tweed's eventual downfall.
Morgan was physically and mentally quick-moving and incessantly active, even in old age. He died at Aurora on October 13, 1881, at the age of 75. Interment was at Oak Glen Cemetery in Aurora.