Edwin B. Morgan
Edwin Barber Morgan | |
|---|---|
| Born | Error: Invalid birth date for calculating age Aurora, New York, U.S. |
| Died | 13 October 1881 (aged 75) Ledyard, New York, U.S. |
| Occupation(s) | Businessman, politician |
| Years active | 1820s–1881 |
| Known for | First president of Wells Fargo & Company; founder of United States Express Company; U.S. Representative from New York |
Edwin Barber Morgan (May 2, 1806 – October 13, 1881) was a businessman and political figure originating from the Finger Lakes area of western New York. He played a pivotal role as the inaugural president of Wells Fargo & Company, founded the United States Express Company, and held a directorship at American Express. Morgan served three consecutive terms in the United States House of Representatives representing New York, each time aligned with a different political party.
Early life and education
Morgan was born in Aurora, New York as the eldest child of Christopher and Nancy (Barber) Morgan. His education took place at Cayuga Lake Academy. At age 13, he started working as a clerk in his father’s mercantile business and assumed control of it by age 21. His family was distinguished, including his brother Christopher Morgan, cousin Lewis H. Morgan, uncle Noyes Barber, and first cousin Edwin Denison Morgan, who served as governor of New York from 1859 to 1862.
Marriage and family
On September 27, 1829, Morgan married Charlotte Fidelia Wood from Aurora. The couple had three children: one son named Alonzo and two daughters, Louise F. and Katharine.
Career
Morgan developed a substantial business involved in purchasing and shipping agricultural goods while collaborating with his brothers in boat manufacturing. Their ventures extended to owning large gypsum deposits near Grand Rapids, Michigan, as well as operating a starch factory in Oswego, New York.
He held the position of inspector for the 2nd Division of the New York Militia, which spanned multiple counties. According to the 1827 New York militia legislation, this appointment granted him the rank of colonel—a title he maintained throughout his lifetime.
As a founding director and first president of Wells Fargo & Company—established in 1852 by Henry Wells to provide express mail, shipping, and financial services to California amid the Gold Rush—Morgan played an essential leadership role. In 1854, he created the United States Express Company to deliver comparable services throughout Southern states, coordinating operations with Wells Fargo at St. Louis.
From that time until his death in 1881, Morgan also served on the board of American Express based in Manhattan.
In politics, after a narrow loss in 1850, Morgan secured election to Congress in 1852 as a Whig, in 1854 with the Opposition Party, and again in 1856 representing the Republican Party for New York’s 25th district until 1859. He chaired the Committee on Patents between 1855 and 1856 and notably intervened to assist Charles Sumner during Preston Brooks’ infamous assault in 1856.
Shortly after beginning his congressional service, Morgan resigned from his Wells Fargo presidency but continued as a board member. Although he stepped down from the board in July 1858, he returned later that year following another director’s departure.
Later years
During the American Civil War, Morgan contributed to recruiting and outfitting regiments from New York.
Following the war’s conclusion, he devoted attention to advancing education by acting as trustee for Cornell University from 1865 to 1874 and serving as both charter trustee and subsequently president of the board at Wells College between 1868 and 1881. He co-founded Wells College alongside Henry Wells to promote higher education opportunities for women. Additionally, he supported institutions such as Auburn Theological Seminary (1870–1881) and Cayuga Lake Academy secondary school.
Morgan remained a Wells Fargo director until early 1867 before briefly retiring; he rejoined the board from 1868 through 1870. As an original shareholder of The New York Times, he played a critical role during its struggle against William M. Tweed in 1871 by investing $375,000 to prevent hostile control and aiding in Tweed’s eventual downfall.
Active professionally until his passing, Morgan died on October 13, 1881, aged 75, in Ledyard, New York. His remains were laid to rest at Oak Glen Cemetery located in Aurora.