J p morgan

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Financier J.P. Morgan believed in the consolidation of industries to lessen competition and enhance stability. He did this for railroads, shipping, utilities, and most famously, the steel industry. In 1907 he stopped a financial panic in the banking system by injecting his own money, and coordinating the actions of the important banks, similar to the role of the Federal Reserve. JC Ragtime Musical, J P Morgan, Banking Industry, Morgan Library, Picture Albums, Mens Attire, Federal Reserve, J P, Gilded Age

Financier J.P. Morgan believed in the consolidation of industries to lessen competition and enhance stability. He did this for railroads, shipping, utilities, and most famously, the steel industry. In 1907 he stopped a financial panic in the banking system by injecting his own money, and coordinating the actions of the important banks, similar to the role of the Federal Reserve. JC

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John Pierpont Morgan began his career as an accountant working for several NYC banking firms until he became a partner in Drexel, Morgan & Co which was reorganized as J.P. Morgan & Co.  Described as a coldly rational man, Morgan began reorganizing railroads. In 1896, Morgan embarked on consolidations in the electric, steel & agricultural equipment manufacturing industries. By the early 1900s, Morgan was the main force behind the Trusts, controlling virtually all the basic American industries. Industry Revolution, John Pierpont Morgan, Progressive Era, J P Morgan, Historical People, J P, Gilded Age, Famous Americans, Industrial Revolution

John Pierpont Morgan began his career as an accountant working for several NYC banking firms until he became a partner in Drexel, Morgan & Co which was reorganized as J.P. Morgan & Co. Described as a coldly rational man, Morgan began reorganizing railroads. In 1896, Morgan embarked on consolidations in the electric, steel & agricultural equipment manufacturing industries. By the early 1900s, Morgan was the main force behind the Trusts, controlling virtually all the basic American…

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