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Morgan was settled in the late 1870s, when Sir William Morgan MP was chief secretary. It quickly became an important port for the river traffic upstream. At one point, when the railway line from Adelaide to Morgan was completed, it was one of the busiest river ports along the entire Murray-Darling river system. The river trade may have died out, but Morgan keeps it alive today with a full working paddlesteamer - the PS Mayflower, built in 1884. Railway services to the town closed in 1969 but the original station has been put to good use as a museum of river and rail history.