There was a great folding of silk pajamas and brushing of well cut suits in Paris last week. John Pierpont Morgan, mightiest of U. S. bankers, was leaving town. The nations which fought the World War had agreed at last how the staggering costs and damages were to be paid by the loser Germany. Mr. Morgan's financial prestige and wisdom were no longer required. He gave power-of-attorney to his partner and alternate, Thomas W. Lamont, and boarded the Mauretania for home.

It was not that Banker Morgan had personally brought about the...

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