Preview

J. P. Morgan's Impact On The United States

Good Essays
Open Document
Open Document
277 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
J. P. Morgan's Impact On The United States
“Go as far as you can see; when you get there, you’ll be able to see farther” was J.P. Morgan’s motto. That shows exactly how much Morgan dedicated his work and how much he devoted his life to it. J.P. Morgan was known as a respectable American financier and banker who dominated corporate finance and industrial consolidation in the late 19th and early 20th century. J.P. Morgan impacted the citizens of the United States because he helped finance railroads, helped organized U.S. steel, General Electric and other major corporations, and most importantly, help stabilize American financial markets during several economic crisis.
Morgan was born into a distinguished family in Hartford, Connecticut on April 1837. His father was one of the founders

You May Also Find These Documents Helpful

  • Good Essays

    In my personal opinion, the man is a Captain of Industry. While yes, he did put many other corporations out of business and he used underhanded trade tactics to get his way, John D. Rockefeller did more for this nation than perhaps anyone else in history. Well, what did he do? Rockefeller donated $530 million to various: charities, hospitals, medical research centers, schools libraries, the building of the University of Chicago, etc.. Furthermore, in today’s society Rockefeller’s $500 million would roughly be worth $8,622,571,428.57 (“Inflation). That’s right, over $8 billion. John D. Rockefeller donated over twice the amount he made himself to further develop the nation and help out his fellow Americans. Also, the Rockefeller family continues to donate their money to various charities even to this…

    • 720 Words
    • 3 Pages
    Good Essays
  • Good Essays

    It all started in a small town in Westmoreland county called West Overton. He was born in 1849 into a wealthy family not his parents but his grandfather had some money. His grandfather was Abraham Overholt, who was a wealthy rye whiskey distiller. As he was growing up his grandfather gave him a job as a bookkeeper. And that was the job that made him want to become a wealthy man in his future.…

    • 961 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Morgan argues that the first American boom that took place in Virginia had many faults and ended up a catastrophic mess, due to the overwhelming number of men allowed into the state which led to a period of famine, but he states that we must not blame the men that were allowed to come into the state as the culprits, rather we should look at the leaders who allowed this to happen and other possible events that contributed to this disaster. Some examples he gives us for Virginias troubles are the Indian Massacre that killed off about 347 men, fighting within the company, and the kings desire to maximize revenue on tobacco. Morgan focused a lot on the availability of food as Virginia progressed through the years because this is where laborers…

    • 298 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Edmund S. Morgan's "The Birth of the Republic" is an excellent overview of the major points of the history of America throughout the revolutionary period.…

    • 955 Words
    • 3 Pages
    Good Essays
  • Good Essays

    James Fenimore Cooper, born on September 15, 1789 in Burlington, New Jersey was the twelfth of thirteen children. When he was one, Cooper and his parents moved to Cooperstown on Otsego Lake in New York, which his father, William Cooper, helped establish. His childhood in the small town later gave him inspiration for his book, Pioneers written in 1923.…

    • 876 Words
    • 4 Pages
    Good Essays
  • Good Essays

    of the time were John D. Rockefeller, Andrew Carnegie, and J.P. Morgan. The definition of a…

    • 600 Words
    • 1 Page
    Good Essays
  • Good Essays

    Garrett Morgan Essay

    • 518 Words
    • 3 Pages

    Garrett Augustus Morgan was born in Paris, Kentucky on March 4, 1877. At the age of fourteen his family moved to Cleveland, Ohio. He was born in poverty and only achieved grade school. Garrett started inventing at the age of twenty. His first invention was a belt fastener for a sewing machine. The invention was sold for $150 dollars. By 1907, he had started a sewing machine and repair store (William, 2010). Later in 1909, he turned his repair shop into a tailor shop. However, during a tragedy in 1911 his shop caught on fire killing 146 people.…

    • 518 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The three men, John D. Rockefeller, Andrew Carnegie, and J.P. Morgan, were seen as robber barons BUT they were also seen as industrial statesmen. Robber baron was a term given to the rich who would pretty much do anything for money whether that meant the jeopardy of workers’ lives and crooked business practices. John D. Rockefeller started a standard oil company and was the first American billionaire. John R. was considered a robber baron mainly because he used his insight of business to ruthlessly force other oil and petroleum companies out of business, and whom managed to hide it all from the public. Rockefeller also, asked the railroad for secret rebates, thought only about money, and decisively brought the strongest men to his sides in order to completely envelop other oil and petroleum companies while at the same time taking no ones’ feelings into account. Andrew Carnegie was an industrialist and a philanthropist. Andrew started a steel company that revolutionized steel production. The way Andrew obtained the label of being a robber baron was by the way he ran his company. Although he made tons of money he, paid low wages, his workers suffered horrible and very unsafe conditions, and he took advantage of the government. J.P. Morgan, financier, art collector, and philanthropist. He was criticized for creating monopolies by making it difficult for any business to compete against his. Morgan dominated two industries in particular—he helped consolidate railroad industry in the East and formed the United States Steel Corporation in 1901. With J.P. and how he was considered to be a robber baron was through his tactics. One of the main reasons people considered John Pierpont Morgan as a robber baron was because of his process known as “Morganization.” In this process, he would take over troubled businesses and reorganize them in order to return them to profitability.…

    • 396 Words
    • 2 Pages
    Good Essays
  • Good Essays

    John Davison Rockefeller was born on July 8, 1839 in Richford, New York. Both of his parents came to America from Germany. His father was William Avery Rockefeller and was not around much in Rockefeller’s childhood. This meant that John was influenced…

    • 607 Words
    • 3 Pages
    Good Essays
  • Good Essays

    John D. Rockefeller was born in 1839 this is where he grew up in New York. He mainly lived with his mother because his father would leave at times and not return for months. Him and his family moved to new cities around New York for awhile. Then when he turned 12 him and his family went and moved…

    • 765 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    J.P. Morgan: the banker who bought the Carnegie steel empire which became the core of the United States Steel Company.…

    • 347 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    John D. Rockefeller was a captain of industry who helped to make America strong. As much as a good as person he was, he was also a robber baron who used ruthless business practices to enrich himself. In 1839 – 1937, Rockefeller was a very important American industrialist, philanthropist and a founder of many important places.…

    • 1278 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The Captains of Industry

    • 421 Words
    • 13 Pages

    J.P. Morgan was a banker and a American Financier, who at the turn of the century, was one of the wealthiest men in America. J. P. Morgan backed the Edison Electric Illuminating Company in 1822 which began the great electric utility industry. Morgan had good links with London financial world and was able to arrange the capital for growing industrial corporations in the United States with money from British bankers. In 1891 Morgan arranged the merger of Edison General Electric and Thompson- Houson Electric Company to form General Electric, which then became the country's main electrical- equipment manufacturing company. After financing the creation of the Federal Steel Company he joined with Henry Frick to merge it with Carnegie Steel Company to form the United States Steel Corporation.…

    • 421 Words
    • 13 Pages
    Good Essays
  • Good Essays

    J.P. Morgan: Full name is John Pierpont Morgan. When Theodore Roosevelt became president, people had arguments of who was the most powerful man of the United States. So, J.P. Morgan and Roosevelt went against each other. This case went to the Supreme Court. Roosevelt gained a reputation as a trust buster but he was actually a trust regulator.…

    • 886 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Once Roosevelt was in office he immediately went after what he believed to be the biggest problem, which was having too much power in the hands of corporate America. With John Pierpont (J.P.) Morgan being the most powerful financier in the country, Roosevelt decided to take him head-on by suing the Tycoon’s northern security corporation to halt the monopolization of the western…

    • 1130 Words
    • 3 Pages
    Good Essays