Morgan Barney was born in New Bedford, Massachusetts, September 25, 1878. He was the son of George and Juliet A. M. Barney of New Bedford and related to the Barney's who came from Nantucket to New Bedford in the early 1800's to carry on the whaling industry in the latter city. He was also related to the Howland family who were prominent merchants in New Bedford.

He spent the summers of his youth designing, building and racing small sail boats. He attended Massachusetts Institute of Technology, graduating in 1900 with a major in Naval Architecture. He went to New York, working first for the naval architect, H.C. Wintringham, and then opened his own office where he developed designs for many large motor yachts. He also designed several cruising sailboats.

During World War I, he worked in New Bedford on the conversion of oil barges to oil tankers, and on designs of vessels and weapons to combat the German submarine menace.

In later life he lived in Greenwich and Stamford, Connecticut, owning and chartering several small sail boats, and managing the rental of various pieces of real estate that he, his wife and his sister owned. He had many friends; belonged to the New Bedford Yacht Club and the Indian Harbor Yacht Club in Greenwich; and was one of the founders of the New York Technology Club as well as being an active MIT alumnus.

He was very close to his sister, Ann Barney Sharp with whom he spent his last days. At the time of his death, on June 22, 1943 in Stamford, Connecticut, he left his wife, Nora Stanton Barney, a daughter, Rhoda, and a son John "Peter".