He founded J.P. Morgan Chase & Co

Shortly after the war was over, Burr rose to prominence as the most prominent Democratic-Republican in New York City and one of the city's hottest attorneys. His party had a severe disadvantage in the Big Apple for many years. All of the wealthy Federalists who ran the city's banks at the beginning of the 18th century refused to lend money to Democratic-Republicans. Burr thus devised a plan to circumvent this in 1798.


Burr requested a license for what he named The Manhattan Company, a private corporation that would serve New Yorkers with fresh, clean water, from the Federalist-controlled state assembly by taking advantage of a recent yellow fever outbreak. Alexander Hamilton, the Mr. Federalist himself, was one of Burr's most ardent supporters, though he would soon come to regret helping his competitor. Burr received that charter from the legislature in 1799, and it had a provision allowing the Manhattan Company to utilize "surplus money" in any "million dollar transactions or activities not contradictory with the constitution and laws of this state or the United States." One of the interesting facts about Aaron Burr is he converted the Manhattan Company into a Democratic-Republican bank by using this significant loophole.


It seldom ever delivered any water (although to keep the charter, a bank employee would ceremoniously pump water until 1923). Hamilton had been tricked into assisting Burr in ending the Federalist monopoly on banking in the city, along with the whole New York legislature. Since that time, The Manhattan Company has changed into JP Morgan Chase & Co., one of the biggest banks in the world. The pistols used in the fight between Burr and Hamilton are now its property.

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