At 24, J.P. Morgan opened his firm and with referrals from his father he rapidly built his business. Morgan collected a large commission for financing a sale of rifles to General John C. Fremont, the Union commander in the West. The business deal was sleazy because the government already owned the guns. A government armory had agreed to sell the rifles before the war at an attractive price, but he wanted cash, which the buyer could not raise. Morgan put up the money to close the purchase with the armory and ship the rifles to General Fremont. The firm was dissolved in 1864, and Morgan was summoned back to the family business.
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