Morgan, J.Pierpont.—American banker and financier, appointed by the British Government to look after British interests in America and known as “Great Britain’s ammunition agent.” In a speech in Parliament, Lloyd George stated that D.A. Thomas would “co-operate with Messrs. Morgan & Co., the accredited agents of the British Government.” Morgan floated the famous Russian ruble and $500,000,000 English-French loans and was the chief promoter of the arms and ammunition industry to supply the Allies. The trade in munitions before we entered the war was upward of two billion dollars, of which the Morgan interests received 2per cent., or $40,000,000 in commissions, exclusive of large additional profits from the companies engaged in the manufacture of munitions in which he and his friends were interested. Under a just construction of neutrality, for Morgan to act against a friendly power under a commission from a foreign government would subject him to arrest under a specific statute of the United States. His niece, nee Burns, is the wife of First Viscount Lewis Harcourt of Nuneham Park, Oxford.