How Did John Pierp Morgan Contribute To The Economy

In a Post-Civil War era, the United States economy was in need of several reforms across many different industries. The most significant turnaround needed was within the government, railroad, and steel markets. John Pierpont Morgan, a man well-known in the finance world, was able to fund and reorganize these businesses to not only stay in business but succeed and benefit the U.S. economy for the better. Although Morgan was faced with the Panic of 1907 and questioning about his motives, Morgan took it upon himself to push America out of this time of fear and prove that he only had the United States’ best interest. Despite setbacks, John Pierpont Morgan would become one of the most beneficial people to the U.S. economy through his financial expertise and organizational empire. Through an impressive work experience from a young age, J.P. Morgan was able to hold an honorable

A major client Morgan acquired during his time at Drexel, Morgan, and Company was the United States government. As 1873 approached, money in the U.S. became tight and people began to pull their money from the stock markets and banks. Morgan knew if he did not step in, the country would panic, so he called his fellow top financiers to his personal library in New York to talk. Surrounded by Morgan’s immaculate private art collection, he asked for their help to save the United States’ trust and refused to let them leave until they gave the amount of money he needed. Although it took them all night to agree with what Morgan asked, his extreme efforts saved the country from an economic disaster. Morgan knew that providing guidance to the U.S. Government would allow people beyond the business world to know his name, so he took the difficult tasks and put matters into his own hands in order to find solutions that would save the U.S. from fear and