 Morgan , Stillman , Baker and the other city bankers were unable to pool money indefinitely . Even the U.S. Treasury was low on funds . Public confidence needed to be restored , and on Friday evening the bankers formed two committees — one to persuade the clergy to calm their congregations on Sunday , and second to explain to the press the various aspects of the financial rescue package . Europe 's most famous banker , Lord Rothschild , sent word of his " admiration and respect " for Morgan . In an attempt to gather confidence , the Treasury Secretary Cortelyou agreed that if he returned to Washington it would send a signal to Wall Street that the worst had passed . 
