Later Years
During the American Civil War, Morgan was active in raising and equipping regiments from New York, for which he received the title of colonel.
In the postwar period he became active with colleges. He was a trustee of Cornell University from 1865 until 1874. Working with his friend Henry Wells to found a college for women, he was a charter trustee of Wells College from 1868 until 1881, where he served as president of the board from 1878 onward. He was also a trustee of the Auburn Theological Seminary from 1870 to 1881. He supported the secondary school of Cayuga Lake Academy in Aurora as well.
Morgan was a director of Wells Fargo until the beginning of 1867. After a brief retirement, he was elected to the board in 1868 and served until 1870.
An original shareholder of The New York Times, Morgan came to the paper's rescue in the midst of its fight against William Marcy Tweed in 1871. George Jones, the editor, feared that ownership of the paper would pass into unfriendly hands. For $375,000, Morgan purchased enough stock to avert this, and contributed materially to Tweed's eventual downfall.
Morgan was physically and mentally quick-moving and incessantly active, even in old age. He died at Aurora on October 13, 1881, at the age of 75. Interment was at Oak Glen Cemetery in Aurora.
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