Morton launched his banking firm in 1863 after a previous business failure brought on by worthless Southern debts. "His mastery of the uncertain trends of finance after the Civil War was so complete that, in the operations under the refunding law of 1870, his firm . . with its London agent . . found itself, with Drexel, Morgan & Company on the upward curve, supplanting in some measure the firm of Jay Cooke, that had for ten years been dominant in American finance" (DAB). Served as Vice-President under Benjamin Harrison from 1889 - 1893.