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There are four Morgan yachts named Corsair and care must be taken to avoid confusion as II and III both going into government service and the first yacht sometimes somewhat forgotten so that in some references III is confused as II.
Corsair an existing 185 ft (56 m) foot yacht on which Morgan placed an option in 1881 that may sometimes be seen as Corsair I. It was aboard this vessel that Morgan negotiated a settlement July 10, 1885 between the New York Central and the Pennsylvania Railroad settling a ruinous financial war and known as the "Corsair Compact".
Corsair II a 241 ft (73 m) foot yacht built by Morgan in 1891 and serving as USS Gloucester during the Spanish American War
Corsair III a 304 ft (93 m) foot yacht built in 1898 by Morgan that served the Navy and also as the Coast and Geodetic Survey until 1944
Corsair IV was a 343 ft (105 m) foot yacht built in 1930 for J.P. Morgan Jr. and turned over to the British Admiralty in 1940