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JP Morgan

"No, sir, the first thing is character. Before money or anything

else. Money cannot buy it... Because a man I do not trust could not get money

from me on all the bonds in Christendom" (Sinclair XIII). With that line,

John Pierpont Morgan ended his career in a show-stealing manner. Indeed,

J.P. Morgan was a man of character; moreover, he was perhaps the greatest

Wall Street banker of the decade. Unlike others who gained fame at a young

age, Morgan lived in obscurity until 1895, where at the age of 58, he

signed a contract to supply gold to the United States Treasury propelling

him into the headlines (Wheeler 3). The mid to late 19th century was a

period of expansion in the American industry and in big business

corporations. Through his leadership, Morgan salvaged America's financial

systems several times during his lifetime. In the railroad industry, he was

known as the great arbiter, saving several railroads with his successful

reorganizations. In the steel industry, Morgan combined many holdings into

one of the successful ventures of the time. In his lifetime, J.P. Morgan

was certainly a captain of industry who saved the American financial system

and numerous companies while overseeing one of the bigge


of it broke, the financial community was greatly impressed, transforming

to pay soldiers. Morgan came up with the $550,000-a-month payroll and set

Company, an ore company and several other firms to found the Federal Steel

Medical School and hospitals (Boardman 131). J.P. Morgan was truly a

philanthropist. In his lifetime, he gave St. George's Church in New York a

result, a group of banks agreed to establish a $10 million fund to bolster

them to agree to his proposal, resulting in restored peace between the



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Approximate Word count = 1082
Approximate Pages = 4 (250 words per page double spaced)


  

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