At that time, his humble office had only a counter, a safe, and a few desks. In 1838, George Peabody opened his business at 31 Moorgate Street, London. He kept working and devoted himself to accumulating wealth. His early years of poverty shaped him into a frugal and diligent man. His father died when he was just a teenager, and Peabody started working in his brother's shop in order to feed his mother and six siblings. Peabody was born into a poor family in Massachusetts. One day in 1835, an American named George Peabody set foot in London. Firms such as Barings and Rothschilds maintained an imperial reserve to be asked for lunch was like being received in audience by a king.” This is how the author describes the financial circle of London in the 30s and 40s. Bankers of the City, London’s financial district, were self-styled potentates. “London was the sun in the financial solar system. Today we will unlock the book, The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance.
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