Maybe JP liked a good snort himself?

JP Morgan was physically large with massive shoulders, piercing eyes and a purple nose, because of a chronic skin disease, rosacea.

His grotesquely deformed nose was due to a disease called rhinophyma, which can result from rosacea. As the deformity worsens, pits, nodules, fissures, lobulations, and pedunculation contort the nose.

Surgeons could have shaved away the rhinophymous growth of sebaceous tissue during Morgan's lifetime, but as a child Morgan suffered from infantile seizures, and it is suspected that he did not seek surgery for his nose because he feared the seizures would return. His social and professional self-confidence were too well established to be undermined by this affliction. It appeared as if he dared people to meet him squarely and not shrink from the sight, asserting the force of his character over the ugliness of his face.

He was known to dislike publicity and hated being photographed; as a result of his self-consciousness of his rosacea, all of his professional portraits were retouched. Morgan smoked dozens of cigars per day and favored large Havana cigars dubbed Hercules' Clubs by observers.

https://www.madcowprod.com/2019/07/10/is-jpmorgan-the-ultimate-plug/