"No, sir, the first thing is character.

             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 biggest ventures of the.

             time.

             During his career, Morgan bailed out America's financial system.

             several times. When Congress adjourned in 1877 without appropriating money.

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

             up a disbursement system (Gross 64). In 1895 when the U.S. gold reserves.

             fell dangerously low, he signed a contract with President Grover Cleveland.

             to procure $50 million in gold from Europe in a private-bond sale, saving.

             the Treasury from distress (Gross 65). In the fall of 1907, the future of.

             America's financial system again looked bleak. Dun's Review noted that.

             8,090 companies with total liabilities of over $116 million failed in the.

             first nine months of 1907, with the September figures showing the highest.

             level of bankruptcy since the 1903 (Gross 62).