As quoted in the Congressional Record, the exchange between John Pierpont Morgan and Samuel Untermyer, the committee's legal counsel:
Untermyer: Is not commercial credit based primarily upon money or property?
Morgan: No, sir; the first thing is character.
Untermyer: Before money or property?
Morgan: Before money or property or anything else. Money cannot buy it. . . . A man I do not trust could not get money from me on all the bonds in Christendom.
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