This article examines the relationship between J.P. Morgan & Co. and France during the First World War. It argues that the dealings between the French government and the partners of J.P. Morgan & Co. from 1914 to 1918 were characterized by personal difficulties between successive French representatives and the partners of J.P. Morgan & Co. Contributing to a strained relationship was the place of Morgan, Hales, the French affiliate of J.P. Morgan & Co., within the House of Morgan. Herman Hales, the senior partner in Morgan, Harjes, though a proponent of Franco-American amity, became disenchanted with his New York partners as the war continued. The feeling was shared by …
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