“The first thing [in credit] is character … before money or anything else. Money cannot buy it.… A man I do not trust could not get money from me on all the bonds in Christendom. I think that is the fundamental basis of business.”

—  J. P. Morgan

Testimony to the Pujo Committee (1912)
Untermyer: Is not commercial credit based primarily upon money or property?
Morgan: No, sir; the first thing is character.
Testimony to the Pujo Committee (1912)

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J. P. Morgan 6
American financier, banker, philanthropist and art collector 1837–1913

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