J. P. Morgan Announces Gold Bond Offering

February 19, 1895

In 1895, J. P. Morgan led the gold bond offering, which helped preserve America’s adherence to the gold standard. Together with the Rothschilds, who were represented by August Belmont in New York, Morgan organized a syndicate to buy bonds from the United States government. Morgan invited a number of New York-based, German-centric firms to participate in the offering: Ladenburg Thalmann, L. von Hoffmann, Heidelbach & Ickelheimer, Kuhn, Loeb & Co., Lehman Brothers, and Hallgarten & Co.