John Pierpont Morgan

John Pierpont Morgan played as an important financier in America's Economy and was one of the most wealthiest men at the time. John Pierpont went through a lot of different struggles and work to become the leader and master of the financial world.J.P Morgan was Mr. Morgan was born on April 17, 1837 in Hartford, Connecticut. J.P Morgan was born into a privileged and wealthy family. He was sent in 1856 to New York. The next year John Morgan worked under the companies Duncan, Sherman & Company and American representatives of George Peabody & Company. As he worked in New York he married his fiance, Amelia Sturge, in 1860. Four months after their marriage she died.("J.P. Morgan.") After Amelia's Death he worked as an agent in his Father's Business as J. Pierpont Morgan and Company from 1860 to 1864. From there he remarried on 1865 with Francis Tracy and conceived four children, "John Pierpont Jr., Louisa, Juliet, and Anne Morgan." ("J.P. Morgan.") Mr Morgan worked hard for his company and his country and was smart enough to manage businesses and many others.

J.P Morgan was a very hardworking man, working through his father's company to reach the position where he is now. Mr. Morgan was a hardworking businessman planning his next move and took the time to understand the laws. J.P Morgan has proven he has been hardworking by learning the history and laws of the US to back up his work. "Cleveland questioned whether this was legal. Morgan asserted that it was, citing a Civil War statute--number "four thousand and something," he said--that had authorized President Lincoln to sell bonds privately in emergencies. The law had never been repealed." (Brands, H.W) He used this historical information to convince Mr. Cleveland so that he can be able to rescue the US treasury from economic depression. Before he saved the treasury he worked up from the lower parts of his father's business working up to higher positions. He had also took the time like any hero to learn the law. As John Morgan became the leader of the Financial industry he started to invest into other business. One of the things he invested in was the American railroads. "With the earlier stages of the consolidation of industry, Morgan, absorbed by his railroad activities, had had little to do."("John Pierpont Morgan")

Mr. Morgan was very smart in business and knows his way around the law. Mr. Morgan is also intelligent by making loans and having deals be made with others and the Government. J.P Morgan helped the United States from an economic depression. He used his knowledge about bonds. He used that knowledge to save the US Gold Treasury and had them to sell "Bonds Privately" "Cleveland questioned whether this was legal. Morgan asserted that it was, citing a Civil War statute--number "four thousand and something," he said--that had authorized President Lincoln to sell bonds privately in emergencies. The law had never been repealed.He Rescued the US Federal Gold Reserve by buying their bonds and giving enough to stay afloat. This was around the "Opportunity" or 1893. Around that time the US Economy was going through an "economic downturn". He was a decisive factor of the US Railroads, Rescued the US Federal Gold Reserve but Mr. Morgan was still criticized by the whole nation. He took the chance to help the Treasury so the USA wouldn't be forced into a Economic Depression. Even when he bailed out the US Treasury he also was able to "solve the panic of 1907" ("John Pierpont Morgan")."The central figure in New York's financial community, he rallied fellow bankers to head off the financial panic of 1907." John Pierpont Morgan lead his bankers to help fix the panic that goes went throughout the country. He was smart enough to bring them together so they could save the US from another depression. "The government turned to New York City's J.P. Morgan and fellow financiers to implement an emergency strategy by loaning $40 million to rescue selected banks and businesses." ("Money Trust Investigation.") He showed that he was capable and was smart enough to solve the impending danger of the Depression otherwise known as the "Panic of 1907". Thinking things over he gave up a large amount of his fortune to save the banks and businesses.

J.P Morgan worked hard for his company and his Country and was very smart in investing and rescuing the US from major problems. He invested in those that guaranteed success and helped out when there was a problem. He worked to make things right even though the whole country had thought he paid off the US. He was a major factor in the Railroad industry and solved the problem to the "Panic of 1907" He inspired me to work hard and to use the knowledge to help out and fix major problems. He has proven that he is smart and hardworking though everything he has done.

Work Cited

"J. P. Morgan." Business Leader Profiles for Students. Ed. Sheila Dow and Jaime E. Noce. Vol. 1.   Detroit: Gale, 1999. Biography in Context. Web. 5 May 2016

"Money Trust Investigation." American Decades Primary Sources. Ed. Cynthia Rose. Vol. 2: 1910-1919. Detroit: Gale, 2004. 75-83. Biography in Context. Web. 5 May 2016.

"John Pierpont Morgan." Dictionary of American Biography. New York: Charles Scribner's Sons, 1936.Biography in Context. Web. 5 May 2016.

"John Pierpont Morgan." Encyclopedia of World Biography. Detroit: Gale, 1998. Biography in Context. Web. 5 May 2016.

Brands, H.W. "Upside-down bailout: J.P. Morgan rescued the U.S. Treasury from near bankruptcy and got nothing but grief for his efforts." American History 45.3 (2010): 26+. Biography in Context. Web. 5 May 2016

Adelmann, Bob. "The Panic of 1893: boosting bankers' money and power: legendary finance mogul J.P. Morgan, one of the original proponents of public-private partnerships, promoted central banking and laid the groundwork for the Federal Reserve." The New American 18 Apr. 2011: 35+. Biography in Context. Web. 5 May 2016.

"J.P. Morgan." Bio.com. A&E Networks Television, n.d. Web. 8 May 2016.