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Primary sourceNewspaper article8 January 1904

Ship of Finance: Morgan and Rockefeller

Bob Satterfield · 8 January 1904

A 1904 political cartoon depicting Rockefeller as the captain of a 'ship of finance' with J. Pierpont Morgan, criticizing watered stock practices.

Depicts Rockefeller as a powerful financial captain alongside Morgan, criticizing their business practices.

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Political cartoon titled 'Ship of Finance' showing a ship with a dollar-sign flag and labeled rail roads. Pierpont Morgan stands in the boat's hold on bags of money; John D. wears a captain's cap on deck. Small figures labeled Oil, Money Trust, Steel Trust and The Pump work at the pump, and a bear says 'Bon Voyage, Cap'n!' Caption reads Mate Pierpont—she's free of water, sir. Captain John D.—then she's fit for all the storms that blow in 1904.
Bob Satterfield, 'Ship of Finance,' political cartoon, 8 January 1904.

About this source

What it is

This cartoon by Bob Satterfield, published on 8 January 1904, shows John D. Rockefeller as captain of a ship called the 'ship of finance,' with J. Pierpont Morgan as first mate. Sailors labeled Oil, Money Trust, and Steel Trust pump 'watered stock' out of the ship while a bear mascot wishes them 'Bon Voyage, Cap'n!'

Why it matters

The cartoon satirizes the financial practices of major industrialists like Rockefeller and Morgan, especially the issuing of 'watered stock'—shares inflated beyond a company's real value. It reflects contemporary criticism of the great business trusts of the early 1900s.

Look closer

  • What does the ship symbolize, and why might the artist choose this image?
  • What is 'watered stock,' and why is it being pumped out of the ship in the cartoon?
  • How does the cartoon portray the relationship between Rockefeller and Morgan?

This newspaper article is part of the curated material that grounds the AI version of John D. Rockefeller on Humy.ai — when students ask about related events, the AI can quote it and cite it.

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