The Assassination of J.P. Morgan

Japhy

Banned
In 1895 the United States was in the second year of a disastrous economic depression. One in five men found them selfs out of work. In Washington DC, President Grover Cleveland found the United States government on the verge of bankruptcy as its Gold reserves were almost entirely depleted. In a desperate move to avoid default, Cleveland turned to the one man in America whom could loan the federal government enough funds: John Pierpont Morgan. Of course Morgan found it to be in his interest to aid the government, at a profit, and began to assemble a syndicate to loan the US government upwards of 50 Million Dollars in Gold bullion. Only a few days after receiving Cleveland's request for aid, Morgan was almost ready to assemble his group of trans-Atlantic investors. But then...

New York
May 1895
Alexander Berkman tried to maintain his calm as he stood next to the door at Drexel, Morgan & Co. He pushed his glasses up his nose, and tried to maintain his calm. He'd failed three years ago to create propaganda for the movement, he must not fail to act this time. That time he'd lost his precious Emma, who'd had no need for cowards, this time maybe, he could win her back.[1] He took a deep breath and let it out slowly. His target represented everything that was wrong in America. To kill him would be a service for the proletariat in this land and around the world.
The sun was setting in the west as the door opened. Berkman placed his hand in his coat pocket and wrapped it around the handle of the Colt revolver. Out stepped four men, in the middle stood one in a bowler, a cane in hand. Around him, men with briefcases. One gruff looking brawler, held himself like a Pinkerton, was obviously the bodyguard. By luck he was on the other side of Berkman's target. For a moment, he felt fear fill him. He pushed it back, willing himself not to fail a second time.
Taking a step towards the door, he found himself standing behind the four men. It was the moment of truth. Berkman pulled the revolver out, and dramatically aimed it at his target, the man in the blower, who was looking towards the ground, presumably trying to hide his case of rosacea. Berkman then shouted, as he planted his feet for the shot. "Morgan you Swine! Your crime is finished!" The man turned around, a moment before the other men of his party and stared Berkman in the face, he began to lift his cane and shout. Before a word came out of his mouth though, his assassin squeezed the trigger. Four shots would hit Morgan before his bodyguard was able to return fire. JP Morgan would be dead before the end of the hour.

Washington DC
June 1895
Grover Cleveland found the situation more and more desperate with each passing day. Since Morgan's death in the last month he had struggled along with his Secretary of the Treasury, John G. Carlisle to find a replacement leader to lead a new syndicate to create a new loan. In the mean time, the treasuries reserve of gold had dwindled down to even lower levels. The report in front of the President stated the reserve would be emptied by the end of next month at the current rate. The moment of truth was at hand.
The president looked up from his desk at Carlisle, there were few options left. The time had come to decide which one to take. "So, John... Is it time to ask congress for a new bill?" The secretary shook his head. "No sir. We must stay with this Gold Standard at all costs. We cannot consider a silver standard. It would be even more dangerous to the economy."
"More dangerous then a government shut down?" Cleveland could not be sure.
Carlisle nodded "Sir it would destroy all faith in our currency. If the government cuts spending though, it will show the American people that we are being responsible, that itself will restore the common faith in the economy."
"Are you sure this is the right course of action?" The president seemed unsure of himself.
"After the fight to preserve the Gold Standard sir? Any other course of action would be suicide."
Cleveland nodded. And so it was done. Not a word was mentioned that the government shut down would involve the loss of thousands of jobs. Such things would only be discussed later, by lower ranking men then these.

[1] The Point of Divergence is that Berkman backs out at the last moment in his 1892 Assassination attempt against Henry Clay Frick of US Steel. As a result by 1895 he's a broken young man, having lost his love, Emma Goldman, whom had planned the assassination with him.

OOC: This is just a start, but any thoughts and comments are welcome.
 
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Cool so far.

But one thing. If Berkman backed out of another assassination why would he attempt another one? Let alone another one three years later. Other then that it makes for a great thing.
 
This is a really cool POD. Just off the top of my head it cold go either way. Perhaps there would be a major backlash against all leftist politics or perhaps this is trigger for revolution.
 

Japhy

Banned
Cool so far.

But one thing. If Berkman backed out of another assassination why would he attempt another one? Let alone another one three years later. Other then that it makes for a great thing.

Trying to make up for his failure before, redemption in an act. And now he's got nothing left to lose... Or to by a bit cynical, I'll admit its because I needed someone to kill JP Morgan in 1895 for what I've got planned, and I coped out. :p

Jello_Biafra said:
I am definitely keeping track of this one. Definitely an interesting POD.

Tobit said:
This is a really cool POD. Just off the top of my head it cold go either way. Perhaps there would be a major backlash against all leftist politics or perhaps this is trigger for revolution.

Thanks positive feedback. :)

And yeah, they'll be some chaos coming with this.
 

maverick

Banned
Can't believe you're actually making this...last Time I ever doubt you, I swear:p

Oh, BTW, the first even reads May and the second one April...
 
Are you planing a socialist USA,Or a USA that resemble the socialist one of the Turtlodove´s TL191?

I would hardly call having an active Socialist Party a socialist USA. The party is more like a Social Democratic Party or whatever the thing is that they have in Scandinavia.
 

Japhy

Banned
From: “A Beginners Guide to Economics and its History in America” Published 1993
During the summer, the United States Executive Branch was effectively shut down in attempt to preserve its dwindling reserves of capital. Thousands of employee’s were fired, and the non-functioning agencies of the government operated with skeleton work forces. President Cleveland visited Washington DC twice, while his Treasury Secretary, John Carlisle found himself almost permanently on Wall Street.
Carlisle found himself utterly unwilling to take a dramatic course of action during the collapse. A fanatic supporter of the Gold Standard, he refused to consider even the temporary use of either silver or fiat currency to allow the Federal government to survive the crisis. Thus he would spend most of the summer of 1895 in meetings with various Wall Street leaders, in a vain search to find a man able to fill the shoes of J.P. Morgan. Carlisle spent almost 3 weeks working with J.P. “Jack” Morgan Jr. in his attempts, desperately hoping that the son had the skills of the father. Jack Morgan would sadly prove to be lacking in his father’s presence, unable to assemble the necessary investors, both domestically and abroad…
Throughout June and July the American economy’s small gains since the start of the panic was lost, and it is estimated by mid-summer unemployment had risen back to almost 19.5%[1]. On Wall Street stocks plummeted and refused to rise, as consumers across the nation lost confidence. European investment in the United States was withdrawn as bankers in London, Paris and Berlin feared that the bottom would fall out on what was viewed as a shoddy American economy…
In the last week of July, accountants in the Treasury Department in Washington reported in secret memo’s that the nations gold reserves would be entirely depleted before the end of August at the current rate. Secretary Carlisle ordered that this information be kept from the public, as he feared a run on bond payments if the news was leaked. He would of course, be proven right on this belief…
On August 4th The New York Times published a cover article indicating that inside sources in Washington DC had informed them that the Treasury would default the following week[2]. The paper never indicated whom the insider was, but historians agree that Carlisle’s “Order of Silence” had failed from the start. Nearly all men involved began notifying friends and family to sell their Treasury Bonds and begin to transfer all assets into Gold. Thus it can never be known if the insider was within the Department or out of it. An extensive investigation by the Secret Service would never be able to determine the responsible party…
The Run on the banks in the first week in August had a disastrous effect on the Federal Government. Secretary Carlisle had only just been able to begin assembling a syndicate after releasing Jack Morgan from any involvement and instead seeking the aid of John Rockefeller. The day the banks run, Rockefeller’s accountants indicated that they could only, at the moment, raise 12 Million Dollars for the governments needs, leaving a massive shortfall of 38 Million[3]. Carlisle accepted this money and on the Morning of the Monday the 5th that 12 million was transferred to the United States government. On Tuesday that bullion in its entirety had been exhausted. Still in New York, Carlisle requested another 12 Million, to which he received generally negative responses; such funds could not be immediately raised. That night, with only a few hours remaining before the opening of the next business day, Carlisle telegraphed President Cleveland in Washington, indicating that the only course of action remaining was for the Federal Government to default on all payment of debts for the foreseeable future, until enough bullion was collected to pay all current government debts. Cleveland, thus, began to write his address to the nation, and an executive order to the treasury department…
For the remainder of the day following the President’s announcement, economic anarchy spread across America. In one day 4 American railroads went into default, and millions were lost in all investment fields. Black Wednesday is often marked as the beginning of a new Panic, but generally viewed as the beginning of a second phase in the Panic of 1893…

August 9th 1895
Woodstock Penitentiary, Illinois
Eugene Debs had adapted himself to a quiet prison life in Woodstock, IL. This day he was laying in his cell reading the previous day’s Chicago papers. The economy was collapsing, so it seemed, he was unsure whether or not to view that as a good thing...[4] It certainly was interesting enough. Tough times would possibly allow the Railroader’s to recover from their failed “revolt” of last year. Or, it could lead to even more damage to the cause of Unions he though… God knows they’d done poorly ever since the Pinkerton’s landed in Homestead.
Reading the papers, it was hard to imagine that so many railroads had gone into default. Debs had, for all of his dislike of their corporate leadership, loved the railroads; you had to, to be willing to work as a fireman in the cars, or a brakeman on the roofs. And surely all of these lines would suffer layoffs and downsizing; no he decided, this collapse was very much not good for the Union, not if all these men were going to find themselves out of work. Putting the paper down, he looked over at his desk, and noted that the title of Das Kapital, that Berger had mailed him.[5] It was the fault of the company owners, he thought. Such men can’t be trusted with the infrastructure of the country, nor the livelihoods of so many man that they mistreat. Yes, only the people can be trusted with the ownership of the railroads, the people represented properly in the government.

August 17th
Salt Lake City, Utah
A large crowd had gathered in front of the platform on this hot summer afternoon, but that was only to be expected. The congressmen had been building a grassroots movement for over a year, and in a state like Utah his message of Free Silver was generally well accepted. Plus, word of his oratory skill had preceded him. No one who could visit was going to pass up a chance to hear the Giant of the Platte speak.
William Jennings Bryan, sitting while the State Democratic Chairmen spoke, leaned towards his right and whispered to his wife. “These crowds are getting bigger. The people like my message.” He was swelling with pride. But his wife, Mary was quick to respond, “Its not your message dear, as it is just that they’ve nothing left to do besides. When you’re out of work you don’t have anything to do, But hear speeches.” He snorted. It was her quick wit that had made him fall for her in the first place, back when he’d been the student and she the teacher in Illinois. And, occasionally the price for that wit was a jab in the ribs like that.
She put her hand gently on his shoulder, and interrupted his thoughts again. “But dear, remember, now that they’re here. They’re willing to accept your message. Go show them what you can do.” She had good timing of course with that, his confidence restored, it was only a moment before the chairman swung his hand back and bellowed. “Ladies and Gentlemen of Utah! The Great Commoner Himself, William Jennings BRYAN!” The applause was loud as Bryan stood and walked up to the front of the Stage. It was almost a minute before he was able to be heard, asking the audience to quiet down.

From “The Deseret Morning News” August 18th, 1895
“Nebraska Congressmen Attracts Crowd in Salt Lake”
Congressmen William Jennings Bryan yesterday, addressed a crowd of several thousand yesterday, as part of his nationwide speaking tour, addressing the need for Free Silver. In yesterday’s speech he declared that the recent collapse of the Eastern Investment economy, and their California partners, shows the failure of Monometalism, and only the coinage of Free Silver can save the United States, and in fact the entire global economy from a never ending recession. “The eyes of Christendom are on New York and Washington he declared. And it is up to them to save us all. But the Bourbon Democrats[6] are unwilling to budge. They would rather let this nation fall into Bankruptcy like a Latin American Disaster then allow the common man his chance to prosper! Thus it is up to we, the ordinary people of this great nation, to send new leaders to Washington! “ The other key topic of the speech was the continuing failure of the railroads, for which Bryan is hinting at a drastic, solution…



[1]- The generally accepted average for the Panic of 1893’s unemployment is ~20%, by 1895 it had dropped too around 11%, but oops…
[2] Big Letters, Headlines and all that…
[3] Cleveland had asked Morgan for 50 Million dollars in Gold, and IOTL had recived 56. Every penny got used IOTL to keep the government afloat, but Rockefeller’s an Oil Man, without as many ties to piles of gold and investors in Europe like Morgan the banker had.
[4] Debs converted to Socialism during his one year stint in Prison, on the trumped up charge of interfering with the US Mail during the Pullman strike of 1894. At this point, he’s still not 100% behind Socialism yet.
[5] Publisher Victor Burger is the man who turned Debs into an American Socialist Icon, it was he who sent the jailed union leader copies of Marx and Engles’ while in prison.
[6] Bourbon Democrats took their name from the French Royal Line, both for being able to return from defeat, and in the popular opinion for being a bunch of rich guys who love gold…

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Thoughts, comments, and critiques are welcome.
 
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This is good so far. Presumably, Bran ends up as president in this version of events...I see enormous butterflies as a result.
 

Japhy

Banned
Do I smell a W.J. Bryan Presidency? I hope so . . .

Maybe...

Maverick said:
Can't believe you're actually making this...last Time I ever doubt you, I swear:p

Oh, BTW, the first even reads May and the second one April...

Yeah I showed you... for once. Also fixed.

nandalf said:
Are you planing a socialist USA,Or a USA that resemble the socialist one of the Turtlodove´s TL191?

I dont belive so, but things can change.

checkmate113 said:
I would hardly call having an active Socialist Party a socialist USA. The party is more like a Social Democratic Party or whatever the thing is that they have in Scandinavia.

Aye, and both are options, I have just a the next few years generally planned at this moment.

Wendell said:
This is an interesting idea for a timeline.
Wendell said:
This is good so far. Presumably, Bran ends up as president in this version of events...I see enormous butterflies as a result.

Thank you and yes, things are going to get... a little bit crazy...
 

Japhy

Banned
Editorial, from the New York Herald, September 8th, 1895

Today we are informed that Secretary Carlisle, and his good friends Misters Rockefeller and Carnegie have solved the government’s current crisis. A syndicate officially headed by the leader of Standard Oil himself, has loaned the government another 30 Million Dollars worth of that precious metal. Let none of us be lacking in faith for the great men of industry have finally come together for the common good! The Secretary and President would like to pretend that the past month did not take place, they would like us to forget that the US Government now is no different than our younger siblings to the south, those South American states whom must default on all debts and hope that no one hurts them too bad. No one even knows if this 30 Million is now enough. This failure by the Treasury…


From The Long Depression: A History Of America’s Greatest Economic Crisis 1870-1900. By Dr. Thaddeus Gibbon. 1988.

It rapidly became clear that September that the 30 Million Dollar Loan “Floated on the Oil” would not be sufficient to solve the governments problems now, thanks to the run on gold, and banks the government’s need had grown, and even if it had not, later economists believe there was a short fall of some 20 Million Dollars, at the start of the crisis.
The early fall of 1895 would show no relief to the crisis, as the first calls by the press for the Secretary to resign began to filter through the press…
In the western states the crisis began to show itself in different ways. Farm foreclosures, always hanging over the farmers head like the executioners ax, rained down on thousands. Failure to make enough of a profit during the harvest proved to be many a family’s doom. The constant cycle of loans and repayment became too much for many as the tough economic times only worsened. Soon scores of families, carrying all they had left with them, began appearing at train stations in cities across the west like Denver, San Francisco, Kansas City, St Louis and even Chicago. This new migratory population came looking for work and food, and found no relief. These refugees would soon overwhelm what aid was available in these cities, as poor houses and soup kitchens, already facing problems from the regular populations of the cities became swamped…

New York City
September 19th, 1896

Theodore Roosevelt, the President of the Board of Commissioners, for the New York City Police Department, was spending the morning walking the beat in the Lower East Side. He’d found that this was the ward of the city to watch at this time. The vast mass of the poor and bitter in this city took up residence in its slums, and as things only became worse with each passing day, the short distance between it, and Wall Street, kept shrinking in his mind.
The cop he was with this morning was one of the old hands of the force, a tough career man named McNeil. Both man kept their hands near their revolvers as they walked. “You’ve heard the news from Chicago of course?” Roosevelt asked.
“Yessir. Nasty fight they’ve got going on there.”
Roosevelt nodded. The wires were flashing a terrible image across the nation, as the second city went up in flames. The riot had begun when a mob of disgruntled, and laid off railroadmen had stormed a train station, as foreclosed farmers were getting off. Three days later the city still wasn’t under control and the price was brutal.
“Even the Canals are burnin’ they say, Commis’ner” McNeil was chewing on some tobacco and spat a wad into the street.
“Yes. One almost expects fire and brimstone to fall from the sky.” Roosevelt was very nervous about that. Yes New York wasn’t having an influx of refugees from the plains, but they did have thousands of immigrants coming in each day, and like Chicago this city too was finding itself very scarce of jobs.
The two officers turned a corner, and paused for a moment, a line of tenement houses could be seen down the entire length of the avenue, as far as one could see. McNeil turned and looked at Roosevelt. “Sir, I’m wondering, what will you be doing if a riot like that breaks out here?” Roosevelt had spent days thinking the same thing himself. “Not much too do, McNeil. We’ll have to send the entire force to stop it. Need to contain it and all before it destroys the city.”
McNeil nodded. “I just hope we don’t wind up like those pinkerton fellas. What happened to them out there, the other day.” He took another spat on the street. “Terrible sir, just terrible.”

Editorial, from the New York Herald, September 21st

And Thus the President has finally taken action! Marshal Law has been declared in Denver, St Louis, New Orleans, and Chicago. While the first three cities have been quickly brought under control, the main fight goes on. With the city of Chicago a ruin, and thousands dead[1], the United States Cavalry, dismounted but still, has stormed off the trains into the city! General Miles is in command, leading his troops in a systematic fight against the anarchists. This nation, already in the grips of the greatest financial crisis in its history has moved against the traitors that are attempting to destroy it from the sewers of our cities. Our own city would perhaps had joined the chaos if not for the work of our States’ Brave Militiamen, called up by the Governor to close off the Brooklyn bridge, preventing riots in the Lower East Side, and in our sister city from uniting. The Lower East side riot was quickly brought under control, while those in Brooklyn now need the aid of a volunteer force of our cities brave officers to defeat their final pockets of anarchy…

From Miles: A Biography by Hunter Kane. 1997.

The Chicago Riot of 1895, and its sister riots was the moment of redemption for the General. He was able to return to his Indian Campaign glory, and finally remove the tarnish he’s recived by leading troops against he Pullman strike the year before. Once again he found himself a hero to the yellow press…
President Cleveland, unable to afford moving the regiments back to their garrisons out west, ordered the Army to encamp them at fortifications in the east, in an around the various cities, officially, in order to preserve the law.
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[1] Please note, reliability for Yellow Journalism may vary…
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Again, thoughts and comments are welcome.:)
 

maverick

Banned
An interesting read, as expected...

Kind of a pity that even in the 1890s, they're already using us as an example of what not to do economically:p

Can't wait to see Roosevelt dealing with some sort of riots...unless he takes some time off to open a soup kitchen...you'd expect to see at least someone worrying about the poor...
 
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