J.P.Morgan Documentary: How One Man Financed America success stories in the world

J.P.Morgan Documentary: How One Man Financed America 
success stories in the world

            Check Out The Success Of Any Industrial Titan, Whether It's Carnegie And Its Steel Mountains, Or Rockefeller And Its Ocean Of Oil, And You'll Find Something Desirable Green That Blows Their Industry ... Money. In The 1800's, One Man Ruled More Than Any Other; John Pierpont Morgan. To Understand The Magnitude Of Pierpont's Influence, We Must First Look Back Long Before The United States Becomes An Economic Powerhouse With A GDP Of 21 Trillion.

          It Is Very Easy To Forget That Americans Once Were An Emerging Market; One, Not So Long Ago, That Was Almost Entirely Dependent On The British Capital. So, Without Wasting Any Time, Let’s Take A Look At The History Of How A Combination Of Time, Ingenuity, And Communication Makes JP Morgan The Most Powerful Man In American Financial History. This Episode Of The American Titan Would Not Have Happened If It Were Not For Our Friends In Acorns; An Investment App That Automatically Rounds Up Your Credit And Bank Card Transactions Across The Nearest Dollar, And Automatically Gives You Money For That Change For Your Portfolio. Stay Tuned To The End To Learn More, Or, Sign Up Now, And Claim Your Five-Dollar Subscription Bonus, By Going To: “Acorns Dot Com Slash Bc” The Link Is On Screen Now, Too, In The Video Text Below. Usually, We Start With The Birth Of A Human Being Through Human Life, But JP Morgan's Story Cannot Be Told Without Referring To The Influential Family That Raised Him.

         Pierpont's Grandfather, John Pierpont, Was An Aggressive And Aggressive Preacher, And He Would Introduce His Grandson To Eloquent Speech - A Skill That Would Later Pay Off The Benefits Of A Future Industrial Captain. But The Most Famous And Most Active Man In Pierpont's Life, Was His Father; Junior Spencer Morgan. June Was A Highly Regarded Businessman In The American And European Banking Industry. And Especially He Took It Upon Himself To Mold His Son Into His 'Cool' And 'Collected' Image; To Prepare A Young Boy To Definitely Join The Family Banking Business. No Other Man Comes Close To Having The Same Impact On Pierpont's Life, Except For His Beloved Father. However, Their Father-Son Relationship Can Best Be Described As "Hard Love". However, We Are Moving Forward. John Pierpont Morgan Was Born Into This Privileged Life On April 17, 1837, With All The Benefits He Could Be Given In Preparation For What Was To Come. But It Wasn't All Sunlight And Rainbow For Little Morgan. He Was A Sick Child. As A Baby, He Suffered From Epilepsy, And As He Grew Older, He Often Suffered From Arthritis, Scarlet Fever, And Severe Headaches.But Of Course His Most Obvious Medical Problem Was His Rosacea - Which Was Very Swollen And Broke The Blood Vessels In His Nose. Lacking Treatment In The Mid-1800's, His Condition Continued To Worsen; Which Turns His Nose From “Unsightly” Into A Crimson And Red Paralyzed Monstrosity. Though You Wouldn’t Know That By Looking At A Lot Of JP Morgan’s Photos, Which Is The Way He Wanted It To Be. According To His Great-Grandson, Whenever Morgan Presented His Portrait Or Portrait, He Wanted His Gargantuannose Touch Touched, After The Fact. In Fact, The 1800s Are The Equivalent Of Photoshop. Pierpont's Various Medical Problems Needed Relief, Making Him Somewhat Lonely. Unable To Play Outside Like Many Other Children, Pierpont Stayed Indoors, Where He Spent His Time Reading And Learning To Read Financial Statements. In An Unusual Turn Of Events, Pierpont Found Solace In Playing A Card Game, Solitaire - The Last Time He Was One Of His Lifelong Joys. Back In The Classroom, Pierpont Was A Traditional Leader.

Video Link :- Click Here

         He Used To Oppose His Teachers, And, Using Common Sense, Spoke To Them In A Low Voice To Punish Them. While In School, His Leadership Skills Caught The Eye Of His Seemingly Impossible Father To Please Junior, Who Would Use His Power To Help Pierpont Develop His Promising Business Acumen. Influenced By His Father's Success, Pierpont Became Fascinated With Successful Men, And He Made A Practice Of Collecting Degrees From The President And Other Celebrities. His Fascination With Powerful Leaders Led Him To Write A School Essay For Napoleon Bonaparte. And Even Though His Parents Tried To Introduce Him To American Heroes, Pierpont Was Impressed Only By Napoleon, And Was Greatly Influenced By The General Public's Dissatisfaction With World Power - An Anidea That Affected The Future Leader. On October 1, 1854, Pierpont's Father, June, Was Made A Partner In A London-Based Finance Company, George Peabody & Company.

       Shortly Thereafter, Morgan's Family Moved To London. But Pierpont, Then Only 17 Years Old, Could Not Travel Very Long. Concerned About His Son's Change Of Heart And Temper, June Sought To Instill In Him A Sense Of Discipline. Wanting The Best For Pierpont, Juneuss Sent Him To Institut Sillig, A Swiss School Based On Lake Geneva, 600 Miles Away. It Would Not Be His First Time To Be Away From His Family. When He Was Only 15 Years Old, June Sent Pierpontto To The Remote Islands Of The Azores To Help Him Recover From Rheumatic Fever. Alone, Alone, He Would Spend A Whole Year Recovering From His Illness. Perhaps This Was Part Of His Father's Special Plan To Help "Strengthen" Pierpont; To Help The Boy Become Self-Sufficient. After School, Pierpont Began His Career On Wall Street, Aiming To Benefit From The Well-Paying American Market. With The Help Of His Father, Pierpont Secda Started As A Freelance Clerk With A Small Banking Company In New York. One Of His Main Responsibilities Was To Provide Intelligence To His Father In London; To Post The Latest American Economic And Political Updates. For 33 Years, Pierpont Had Last Tuesday And Friday Evening To Write To His Father, Who Not Only Absorbed His Son's Long Letters, But Also Introduced Himself. With His New Position On Wall Street, Pierpont Gained Valuable Business Experience. But His Tireless Desire Soon Overtook The Small Factory, And In 1861, He Started His Own Company, J Pierpont Morgan & Company. One Of The Benefits Of Working In A Banking Business Was Pierpont's Introduction To The Elite People Of New York, Allowing Him To Associate With Those Of The Upper Class. It Was At One Of These Gatherings That One Young Woman Captured Her Interest And Instilled A Strong Love In Her Heart; Amelia Sturges. Amelia, Or Mimi, As She Is Best Known, Came From A Banking Family, And When Pierpont First Meter, She Was Impressed.

        For The Next Three Years, Pierpont And Ann Were Inseparable. And As His Business Grew, He Used His New Money To Buy Him A Ring At Tiffany’s, Planning To Raise It.But Their Lives Will Improve Quickly. In Preparation For The Wedding A Few Months Later, Ann Approached The Pierpont That Summer With A Persistent Cough. And Even Though Ann Said She Was Very Ill Because Of The Marriage, Pierpont Rushed To Marry The Woman Of His Dreams In October Of 1861. By This Time, He Was So Weak That Morgan Had To Carry Him Down The Stairs To His Wedding. Hoping That Warm Weather Would Cure His Fever, Pierpont Took His Bride On Her Honeymoon To Algiers. Concerned, Morgan Hired Top Doctors Who Could Afford The Money. But As His Condition Deteriorated, Doctors Confirmed Morgan's Fears: Tuberculosis, A Disease That Almost Always Killed People In Those Days. Sadly, It Was Clear That No Amount Of Money Could Change His Future. Although JP Morgan Listened As Best He Could, Ann Morgan Died On February 17, Just Four Months After Their Wedding. Disappointed, Pierpont Returned To New York With A Shell Of His Identity. Faced With The Pain Of Losing, Morgan Threw Himself Wholeheartedly Into His Career. With Long Days And Solid Training, These Two Years Were Spent Raising His Reputation As A Trusted American Banker. It Was During This Time, However, That The Americans Would Go To War… Themselves. In The North Against The South, The Civil War Was About To Reach Morgan When Congress Passed The March 1863 Registration Act, Enrolling All Men Between The Ages Of 20 And 45 To Enlist In The Union Army. But John Pierpont Morgan Was Too Busy And Important To Get His Hands Dirty With Something As Trivial As A War. Following In The Footsteps Of Other Men Such As Andrew Carnegie And John D. Rockefeller, Morgan Paid $ 300 To Be Removed From The Registry And Instead Had To Fight For His Position. He Will Affectionately Call His Position, "Another Pierpont Morgan". But Pierpont Would Not Sit Idly By Next To The Wars - The Military Business Was Very Profitable For Such Nonsense. As The Wars Continued, Morgan Found A Way To Profit From The Massacre; Trading Union Bonds. He Noted That The Price Of Securities Seemed Insignificant Following The News Of Each Outcome Of The War Between The Union And The Confederate Arms - The Ability To Identify The Winner Of A War Meant A Great Deal. In Line With Union Bond Speculation, Morganalso Found Other Ways To Make Money Through The War. In What Came To Be Known As The Hallcarbine Affair, 24-Year-Old Pierpont Was Contacted By A Unique Business Application From A New York Attorney Named Simon Stevens. Stevens Suggested That Morgan Lend Him $ 20,000 Or 7 Percent Interest To Buy About 5,000 Firearms, Called Hall Carbines. 

      Considered Obsolete, Yet Still Valid, Stevens Could Buy Guns For The Union Army At A Bargain Price Of Three And Five Cents. Using Morgan's Loan, Stevens' Plan To Modernize The Guns, By Upgrading Their Cartridges; Which Would Improve Their Breadth And Accuracy. After Upgrading Weapons For Seventy-Five Cents Per Gun, Stevens Will Then Install The Guns - Sell Them To The Military, And Use That Money To Pay Morgan's Loan And Interest. The Plan Worked On The Tee. After The Defeat Of The Union Army In The First Battle Of Bull Run, The North Suddenly Found Itself In Dire Need Of Firearms. Reluctantly, The Military Agreed To Repurchase Newly Converted Weapons At A Price Of $ 22 Each - Even Though They Sold The Guns For Only Three Dollars And Fifty Cents A Month Ago. Two Years Later, A Government Contract That Governed Congressmen Called For Those Involved In What Morgan Supported As People: "They Are Worse Than Heretics". These Kinds Of Feasts Did Not Make Pierpontopopular, However, Especially With His Father - Because June Lived A Conservative And Unthinkable Business Philosophy; Born With His First Hand He Witnessed The Panic Of 1857. "It Is Slow And Should Be The Motto Of Everyone," He Preached. Despite His Busy Schedule, Pierpontalways Made Time For Religion, And He Actively Attended Church In Saint George, Manhattan. On One Of These Sundays, Pierpontmet Frances Louisa Tracy. Fanny, As Her Nickname, Was Not Immediately Interested In Pierpont, But In Time, Morgan Dressed Her Down. By The End Of 1864, These Two Were Something. Although She Had Waited Three Years For Ann To Marry Ann, She Waited A Few Months Before Marrying Fanny On May 31, 1865. Nine Months And Ten Days Later, Fanny Gave Birth To Pierpont's First Daughter, Louisa. Two Years Later, Her First Son, J. Pmorgan Junior. At This Time In America, Wealth And Prosperity Were On Everyone's Mind. The End Of The Civil War Forced The Country To Explode For Ten Years, Later Called The Gilded Age; Enterprise Age. From 1870 To 1910, The Number Of Americans And Individuals Doubled, As Robbers And Businessmen Took Loneliness By Storm. Names Like Carnegie, Rockefeller, And Vanderbiltwere Were On Everyone's Lips, As Industries As A Whole Were Born As One Night. But As The World Grows, So Does Its Need For Marriage. Sponsored By The Old Money Pierpont's Father Worked With Back In London, JP Morgan Was Well-Established On Wall Street.

     It Was An Example Of Being In The Right Place At The Right Time. The Only Problem Is That JP Morgan Was Gone. By The Time He Was 33, The World Was Ready To Hit The Door, JP Morgan Was Exhausted. Retirement Seemed To Be The Only Way He Could Cure His Tired Body. But His Father Would Not Have It. June Had Worked Hard In London To Farm With America To Let Her Son Stand Now. If Life Were A Problem, She Would Kindly Let Her Son Go For A While, But Pierpont Would Not Be Allowed To Leave The Banking Business Altogether. June Morgan Has Planned A New Partnership For The Pierpont. One Of His Closest Contacts And Associates In London Was A Philadelphia Banker Named Anthony Drexel, An 11-Year-Old Pierpont Man - June's Well-Known Decision To Surround Young Morgan With Old And Intelligent Minds. Drexel American Firms Were Already Collecting - One Hundred And Fifty Thousand Thousand A Year, And Had Established Overseas Trade Relations. Armed With $ 5 Million Seeds From June, Pierpont And Drexel Set Up A New Business, Building Drexel, Morgan & Companyin In 1871. At The Behest Of His Father, Little Morgan Agreed To Join The Partnership, On One Condition: A Much-Needed Vacation. Pierpont Was Not Happy About Looking Back At The Office: He Was Exhausted. In Fact, For The Rest Of The Investor's Life, He Was On Vacation For A Few Months Each Year, Desperately In Need Of Renewal. 

      He Used To Joke That He Could Accomplish 12 Months Of Work In Just 9 Months. After Returning From A 15-Month Vacation In Europe And Africa, JP Morgan Bought A 368-Acre (368 Ha) Property In Highland Falls On The Hudson River, North Of New York City. This Sprawling Building, Known As Cragston, Will Be A Place Where He Can Escape The Noise Of The City And Raise His Growing Family; The Morgans Added Two More Daughters In The Next Few Years. Not Surprisingly, Pierpont Was Concerned About Beauty In All Aspects Of His Life. He Was As Accurate About His Gardens As His Finances. It Was Well Known That He Planted His Own Stems And Paid Special Attention To Choosing The Most Beautiful Flowers For His Beautiful Home. And As He Pruned His Crops Over The Weekend, He Made Sure To Avoid Weeds That Threatened The Growth Of His Business. Back In His Office At 23 Wall Street, He Demanded That Women Be Allowed Only On The Premises Once A Year, On New Year's Day, When Rockets Were Closed. Her Partner Had A Female Secretary Who Had To Be Placed Across The Street, So As Not To Disturb The Busy Businessman. That Level Of Focus Led To The Failure To Succeed In The Banking Business. While The Annual Inland Income Was Only Five Hundred Dollars A Year, Morgan Was Always Making More Than Five Hundred Thousand Dollars. But It Was More Than His Financial Intelligence That Made Him So Successful; And It Was His Horrible Image, Magnified Only By His Large And Crippled Nose. His Aggressive Look Has Been Described As A Stare In The Light Of An Oncoming Train. He Was Superior To Men, Standing On Six Sides — Two Feet, Eight Inches Full Of The Average Man’s Height At The Time. Morgan Used His Horrible Appearance To Bend His Opponents To His Will, Especially Those In The Railway Industry. Unlike Many Businesses With Low Entry Barriers, Starting A Railway Can Cost Anywhere From Seventeen To Thirty-Five Dollars. Fortunately For Drexel, Morgan & Company, There Were Only A Handful Of Banks That Could Fund Such Large Projects. But Apart From The High Start-Up Costs, The Railway Industry Had Added A Lot; And Several Companies That Offer Competitive Lines, All Trying To Work For The Ever-Growing Growth Of Americans. During This Time, It Was Common For Someone To Control The Interests Of The Entire Industry.

    Carnegie Built The Largest Steel Structure In Great Britain. Rockefeller Was Cleaning Up About 90% Of American Oil. But The Railways, On The Other Hand, Had Left The Opposite. While Some Industries Were Heavily Regulated, Many Train Owners Faced Rivals. It Was Not Uncommon For Many Companies To Play On The Same Track In Order To Compete With One Another. But Others Have Seen An Increase, An Opportunity For Morgansaw. Instead Of Owning Stock In Railway Companies, Morgan Would Play A Key Role In The Management Of The Railway Company He Planted. By Taking A Position In The Company, And By Joining The Board Of Directors, Morgan May Reorganize The Company's Leadership And Direct The Company As He Sees Fit. The Practice Grew So Popular That It Later Became Known As "Morganizationation", Although Today, We Know It As An Investment Activist. It Was Said That, Although He Served As Director Of Many Boards, The True Chairman Lived Wherever Pierpont Lived. In Another Unusual Incident, When A Railway President Challenged His Leadership, JP Morgan Replied: "Don't Forget, Your Railroad Belongs To Black Customers." In Time, Pierpont Gained An Unparalleled Reputation As A Trustworthy And Straightforward Dealm Maker. And At A Time When Government Agencies Were Absent, He Was Known As The "Sheriff" In The Wild West Railway. Having Morgan On Your Board Was A Deterrent; One That Would Cause Corporate Attackers And Robbers To Think Twice About Trying To Be Forcibly Taken Over. Trading With Large And Large Deals, Morgan Did A Masterpiece Of Integration Work, As His Growing Reputation Helped Attract More Business To His Company. So When Two Railway Giants Threaten To Overthrow The Railway Industry And Damage The Entire American Economy, It Is Not Surprising That Morgan's Power Is Being Called Into Operation. But The Scale Of This Agreement Required Pierpontto To Set The Stage In An Unprecedented Way… The Poles Were Not High. If You've Ever Heard The Phrase "Workhard, Play Hard", It Was Settled Out With JP Morgan. Although He Spent Many Hours In The Office, He Used The Same Effort In His Spare Time. In 1882, JP Morgan Joined The New York Yachtclub, And He Purchased A 150-Foot [185 M] Steel Boat, Which He Named The Corsair.

     He Often Used The Ship To Get To Work And To Get Out Of Town, So That He Would Not Be Caught In The Train System. In Fancy Fashion, Pierpont Also Hosts Major Events, As He Walks Up And Down Hudson. Although The Corsair Was Used Especially For Fun, Its Staterooms Would Serve As The Eccentric Board For Morgan's Next Meeting. The Two Largest Railways In The Country, Pennsylvania And The New York Central, Are Constantly Being Separated, With Their Marriages Dwindling Day By Day. But What These Companies Did Not Realize Was How Their Local Wars Affected The American Economy. British Investors, Who Had Soaked Into $ 1.5 Billion In The Industry, Fearfully Watched As The Railway Approached The Collapse. Before Long, The British Were Quickly Withdrawing Money From US Railways, At A Cost Of About $ 25 Million A Year. This Was Very Dangerous, Considering Foreign Companies Had More Than Two-Thirds Of American Companies Being Sold Publicly At The Time. If Two Railways Collapsed, The Ruling Effect Could Have A Devastating Effect On The American Baby Economy. JP Morgan Devised A Bold Plan That Required Agreements On Both Sides Of The Track, But None Of The Railway President Seemed Ready To Agree. Morgan Therefore Invited Both Of Them To Enter Corsair, Where They Traveled Along The Hudson River, Arguing Over Details Of Morgan's Nomination. In His Unusual And Controlling Style, Morgan Refused To Set Up A Booth Until Both Sides Agreed To His Terms - A Well-Behaved Railway President. Eventually, They Tirelessly Agreed To Stay Outside Each Other's Homes. This Most Notable Victory Is Known As The Corsair Pact. With Morgan's Help In Selling The Transaction, She Was Kindly Awarded A $ 100,000 Commission, Plus A Million-Dollar Train Revenue. A Few Years Later, On April 8, 1890, Morgan's Father, June, Died Tragically In A Car Accident. And While His Father's Death Was Tragic, It Was Not At All Bad, As Pierpont Inherited The Lion's Share Of His Fortune, Costing Him $ 15 Million. Though Painful For The Pierpont, And, Perhaps, It Was Liberating. With The Departure Of His Father, Morgan Was Now Free To Invest And Use The Way He Wanted, Eventually Enabling Him To Emerge From The Shadow Of His Easter Father. In One Night, JP Morgan's Fortune Tripled. His First Business Order Was To Quickly Buy A Larger Boat, Which He Wisely Named Corsair II. When Asked About The Cost Of Building A Sucha Mega-Yacht, The Legend Says The Bank Owner Responded; "If You Have To Ask, You Can't Pay." Few Health Rates Were Too High For JP Morgan. The Handsome Corsair II Is Free Of Cost; Boasting Of Real Fireplaces, Beautiful Unique China, Oak Paneling, Sizetub-Filled And Moderate Heat. A Cruise Ship Would Cost Him $ 100,000 A Year In A State Of Repair Only. 

    Despite The Rising Price, Morgan Saw Fit To Invest, Allowing True Escape From Office And Telegrams. And Even Though Morgan Had A Lot Of Money To Move, The Market Would Pull Holes In His Business. Enter The Gold Panic Of 1893. At The Time, The U.S. Dollar. It Was Tied To A Gold Standard; Which Allows Anyone To Convert Their Paper Money Into Visible Gold. Because Notes Such As The $ 20 Or 100-Dollar Bill Were Thought To Be “Gold Vouchers”, The Government Kept A Minimum Of Gold And A Million Dollars Worth Of Gold. It Was Not A Legitimate Authority, But Keeping It Above That Line Meant That The Public Still Trusted The Government. But In February Of 1893, Government Reserves Sank Below The 100 Million Mark, As European Investors Exchanged U.S. Dollars. Precious Coin.

     The Gold Rush Evoked Widespread Panic, As People Began To Wonder; "If The U.S. Government Were Running Out Of Gold, Would Paper Money Be Worthless?" And As The World's Warehouses Emit A Steady Stream Of Flow, Banks And Businesses Begin To Congregate Around The Country, Seemingly In Unison. With Millions Now Unemployed, The Big Company Has Reverted To The Same Institutions That Helped Them First: Wallstreet Banks. But The Banks Were Full Of Hands, Especially JP Morgan. His Favorite Industry, Railroad, Was Collapsing - With 192 Lines Declaring Demise In Just One Year. Eventually, A Third Of All Railway Tracks In The United States Will Be Closed, Affecting The Entire Economy From Coast To Coast. The People Of That Time Would Call This Period The “Great Depression”, A Term That Could Not Be Redefined Until 1929. Soon, JP Morgan Will Once Again Prove Why He Is Known As “The American Napoleon”, As He Turns His Strong Will Into The Hands Of The Problem. His Reputation As A Great Organizer Will Ensure That He Is The Right Man For The Job. Understandably, He Knew That Merging The Railway Was Their Only Chance Of Survival, A Move That Left Many Wondering If The Bank Had Too Much Power In The Great American Industry. But When The Railroad Came To Him For Help, He Would Refuse - Unless He Was Given Full Authority. This Was Not The Time To Wait Around - As All Big Businessmen Know, This Was A Time For Decisive Action. After Controlling The Railroad, Morgan Used His Financial Intelligence To Strengthen The Company's Balance; Re-Consolidating His Debt And Issuing New Shares To Raise More Money, Among Other Strategies In His Ledger. In Time, Morgan Gradually Pulled The Brakes On The Unruly Railway Industry. And Through His Efforts, Drexel, Morgan And Company Are Rewarded With Secure Holding On To All Future Businesses On Major Railways, Not Counting On Excellent Commissions. In This 20-Month Fundraiser, JP Morganwalked Out With Just Over A Dozen, He Also Gained New Fame And Prestige. His Impressive Reputation Took Him Farther And Farther Away, Eventually Placing Him Before The Highest Office In The Country. Although Pierpont Was Able To Stop The Train Wreck, The U.S. Treasury Was Still In Crisis. Gold Was The Basis Of The Entire US Economy. And That Foundation Was Soon To Collapse. In Response, JP Morgan Came Up With A Plant To Reclaim American Gold Reserves, Which He Sent Directly To President Grover Cleveland. Convinced That His Plan Would Work, Morgan Returned To His Library To Play Solitaire, Waiting For The "Yes" To Come From The President. Within An Hour, The Answer Came Back ... "No." President Cleveland Instead Chose To Do What The Government Had Been Doing In The Past; Sell Bonds To American Society. But Pierpont Knew That Issuing Bonds Would Take A Very Long Time, With The Government Failing To Pay Its Debts Within Three Weeks. Without Delay, JP Morgan Ran From New York To Washington, Determined To Meet With The President, A Man Who Regarded Him As His Equal. If The President Was The King Of The Country, Then Undoubtedly Morgan Was The Ruler Of Finance. At First, The President Refused To See Him, And Pierpont Responded In A Loud And Threatening Voice: "I Went Down To Washington To See The President - And I Will Stay Here Until I See Him." At The Time, The Situation Was Worsening For An Hour, As The Government Was In Serious Banking Crisis - Earning $ 2 Million A Day In Its Gold Reserves And Showing No Signs Of Slowing Down.

     The Morning After His Arrival, Morgan Went Inside To See The President And Many Of His Cabinet Members. But The President And His Men Were Not Inclined To Listen To The Wall Street Banker. Fortunately For Morgan, The Treasurer Received A Call At The Meeting That Their Savings Had Dropped To $ 9 Million. Pierpont Saw His Opportunity And Jumped. He Told The Men In The Room That He Himself Knew The $ 12 Million Framework That, If Unveiled That Day, Would Dissolve The US Government By 3 P.M. Seeing Their Plight, President Cleveland Turned And Asked: “Do You Have Anything To Suggest, Mr. Morgan?” Morgan Offered An Agreement For American And European Investors Who Could Work Together To Return The Gold To The State Coffers. Using Outdated Space In The Previous Civil-War Law, Morgan Showed How Treasury Could Buy Gold From Morgan's Secret Company, Build Their Shrinking Resources And Close The Leak. Most Importantly, This Opportunity Has Made The Presidential Administration Pass Through Congress, An Easy Way For Cleveland To Make A Critical Decision. In Addition To The Negative Publicity Of White House Working With Wall Street, Cleveland Has Signed A Contract With Morgan's Syndicate. Within 22 Minutes In New York City, And Two Hours In London, The Private Sale Of State Government Bonds Was Sold Out Entirely. Tragedy Has Now Been Avoided, And Pierpont Has Successfully Defeated The United States Government - Saving The Country On The Brink Of Collapse And Restoring Faith In The American Economy. But His Motives Were Not Entirely Self-Sacrificing, As He Imposed A High Commission On His Activities In Aid Of The Transaction - Raising Questions As To Whether Morgan's Conduct Was More Or Less Profitable Than Patriotic. With This Influence, Many Were Concerned About Whether One Man Like Morgan Should Be So Powerful. There Is No Clearer Example Of This Than When JP Morgan Came To Andrew Carnegie In 1901. Carnegie Steel Was High, Putting In $ 40 Million A Year, But Andrew Carnegie Was Ready To Retire From Business. So He Wrote On A Piece Of Paper The Amount He Wanted To Sell His Business, And Brought It To Morgan's Office. By Taking Just One Eye Out Of The $ 480 Million, JP Morgan Agreed Right There, Putting The Biggest Business Transaction In History, And Recording Carnegie As The Richest Man In The World At The Time. Later, In Celebration Of The Agreement, Carnegi Noted That He Should Have Asked For An Additional $ 100 Million. "If You Had, I Would Have Paid For It.", Morgan Replied. Through Carnegie Steel, Morgan Founded Unitedstates Steel Corporation And Continued To Strengthen-Consolidate, Successfully Managing 60 To 70 Percent Of The World's Total Production. In Doing So, He Re-Established The World's First Billion-Dollar Company, The U.S. Steel, Then Cost $ 1.4 Billion Dollars; Equates To An Astonishing Seven Percent Of American GDP. In Addition To His Iron Hold In The Steel Industry, Morgan's New Business, Northern Securities, Had Purchased And Controlled Two Of The Nation's Largest Rail Companies.

          This Meant That Morgan Owned One-Third Of All Railway Lines, At A Time When 60% Of U.S. Stocks Were Owned By Railway Organizations. People Began To Gossip And Speculate That Morgan Was The Owner Of The United States. One Of Those Who Believed The Gossip Was The President Himself; Theodore Roosevelt. Former Presidents, Like Cleveland And Mckinley, Were More Interested In Mega-Corporations Taking Over The Country - Or, At The Very Least, Seemingly Unconcerned. On The Contrary, Roosevelt Opposed Independence, And He Believed That The Size Of Government Should Increase With The Size Of The American Industry. Needless To Say, Morgan And The President Are Not Getting Off To A Good Start. Using The Sherman Anti-Trust Act Of 1890, Roosevelt Worked Hard To Dismantle Companies Such As The Northern Security And U.S.C. At A Time When There Were No Problems With Politicians Receiving Bribes From Big Business, Such As Free Train Travel, President Roosevelt Strongly Opposed Those Old Practices. Roosevelt Saw JP Morgan As Part Of The Crisis Over The American Economy. The President Did Not Want Big Companies To Be Controlled. Morgan And His North Security Will Be Roosevelt's Role Model Around The World. Without Consulting His Cabinet, Roosevelt Publicly Declared That The Northern Securities Was Being Investigated For Illegal Complaints Under The Anti-Administrative Law. And For The Second Time In His Life, Morganrush Went To The White House Seeking To See The President. He Said He Should Have Given Her Time To Rectify The Situation And Warned Before Taking Immediate Action. "That's Exactly What We Didn't Want You To Do," Roosevelt Replied. Eventually, The Northern Security Was Violated In 1904 When The Supreme Court Rejected Morgan's Appeal. JP Morgan Is Outraged By The Government's Intrusion Into Big Business. On Hearing That President Roosevelt Wanted To Go Hunting In Africa For One Year, Pierpont Said: “It Is Good. I Hope The First Lion He Meets Will Do His Job. "Even Though The Two Disagree, President Roosevelt, Or Teddy, As He Is Also Known, Had To Acknowledge That Morgan Has The Talent To Fix All The Economies. This Talent Will Be Tested Again In 1907, When The Stock Market Crashed After The Collapse Of The United Copper Company, Which Dragged The Entire Mining Industry, As Well As Two Trading Houses, And A Bank — All Within One Weekend. As It Happened, The Stock Market Rallied Again, Followed By The Bank's Operations. One Of The Strategies Used To Reduce The Withdrawal Of Money From National Banks Was That Forecasts Slowed Down, And Consumers Rushed To Withdraw Their Money; By Deliberately Excluding Any Contact With Sponsors. Perhaps This Has Played A Role In Making The Lines Longer In The Historical Bank-Driven Images We Know Today. If The Public Continues To Withdraw Money At The Same Time, The Benefits Can Be Realized For Years. President Roosevelt Would Have To Put His Differences Aside, Because He Knew That There Was Only One Person Who Could Solve The Problem: Johnpierpont Morgan. His Superiors Want Morgan To Step In, Extending $ 25 Million From The Government To Be Spent On Pierpont. During The Crisis, John D. Rockefeller Donated Part Of His Wealth To Morgan If It Would Help Save The Country From Depression. As A Business Venture On His Ship, Morgan Had To Set Up A Platform. He Arranged For The Heads Of The Central Banks And National Funds To Meet At His Private Library To Work Together To Resolve The National Crisis. Morgan Has Reportedly Set His Sights On Big Banks And Hopes To Invest In Their Smaller Rivals. He Then Locked The Door And Played Solitaire, While The Banks Negotiated. Journalists Camped Outside Worried, Waiting To Hear The News. Early In The Morning, The Leaders Of The Central Banks And National Coffers Had Reached A Decision, As Did The Corsair Pact Many Years Ago. Morgan Helped Organize The Money Needed To Rescue Failed Banks. And By The End Of The Week, Another Problem Was Restored. JP Morgan Was Hailed As A Hero. Down Wall Street, Onlookers Cheered. But This Would Be The Last Time A Single Man, Especially One Of Wall Wall Bankers, Would Have Such An Impact On The Country. And Even Though Morgan Was Retired And In The Mid-70s, He Continued To Face Opposition Because Of His Incomparable Influence. In 1912, Morgan Was Ordered To Appear Before The Pujo Committee, A Senate-Led Group Investigating Major Financial Powers Held By A Small And Powerful Bank. And Even Though The Party Was Investigating Several Banks, It Soon Became Clear That JP Morgan Was The Target Of The Government. But Pierpont Insisted That He Had Done Nothing Wrong.

        Asked If He Was Chasing Power, He Said That It Was Never What He Wanted. Overwhelmed By The Media, Morgan Used The Stage To Demonstrate His Great Power. “Commercial Debt Is Not Based On Money Or Property?” Asked A Subcommittee Lawyer. "No, Sir, The First Thing Is Character." Morgan Responded Tactfully. Before Money Or Property? ”Who Fought Against The Law. Before Money Or Something. "Morgan Replied. The Audience Applauded. Finally, The Committee's Findings Revealed That Morgan Alone Managed More Than $ 22 Billion In His 112 Companies And 341 Executives; Equally Well Over A Third Of The Country’s GDP. And Although The Senators Could Not Find Morgan Guilty Of Any Wrongdoing, The Pujo Committee Eventually Paved The Way For The Formation Of The Federal Reserve And The Endless Payment Of Income Tax. Despite Being Able To Help America Avoid Many Economic Pressures, Morgan Did Not Seem To Escape His Depression. Pierpont Suffered From Anxiety Throughout His Career, And He Became More And More Anxious As He Got Rich, For He May Have Been More Concerned About Losing: Not Only Himself, But Also His Clients. Throughout His Life, Morgan Kept Himself Confined To His Bed, Usually For A Few Days Each Month In Order To Recover From His Various Health Problems. Despite Being The Toughest Banker Ever To Live, Pierpont Was Thin. Strengthening His Depression Episodes Was A Financial Impersonation, Portraying Him As A Greedy Businessman. He Certainly Did Not Enjoy Seeing The Magazine Pages Portray Him As A Satanic And Greedy Beast. Now, In His Final Years, He Endured Great Human Trials; Facing Heavy Criticism, All Of This While Trying To Strengthen His Membership As The Most Successful And Patriotic American Financier. During This Time, Pierpont Lived An Extreme Life; Extracting Large Amounts Of Sherry And Port, While Smoking A Large Amount Of Cigarettes A Day. He Is Said To Have Eaten So Much Breakfast That It Would Have Killed The Horse. It Was Not At All Helpful In His Life When He Heard Of A Shipwreck Some Of His Investment; Titanic - A Ship He Owned With His Own Trust. Interestingly It Was At The Last Minute That He And His Multi-Million Dollar Art Collection Were Not On The Dock When It Landed On April 14, 1912. Probably Everything Was Too Much For The 75-Year-Old Titan. While Leaving Rome On March 31, 1913, Morgan Passed Away Shortly After Midnight. His Son, J.P. Morgan Junior, Says His Death Came From The Pujo Committee - Which Caused His Father Great Distress. Respectfully, Wall Street Not Only Flew Flags In The Middle But Closed The New York Stock Exchange Until Noon. At The Time Of His Death, His Networth Was Valued At About $ 80 Million, About Half Of Which Was In His Hands Alone. Andrew Carnegie Commented On Morgan's Passing, When He Heard Of His Small Fortune, Which Seemed To Be Compared To Other Titles Like His Own, Commenting; "And To Think He Wasn't Rich." Many Industry Executives Believed That He Was Richer Than He Really Was. But Morgan's Legacy Goes Beyond The Fattening Of His Wallet. After His Death, Many Of His Paintings Were Donated To The Metropolitan Museum Of Art, Where They Are Still Viewed Today. However, The Art Is About 5% Of His Various Collections. He Also Boasted A Portfolio Of Other Valuables; Such As Napoleon's Watch, Leonardo Da Vinci's Notebooks, And A 5-Page Letter From George Washington, Among Many Countless Treasures. His Library Opened To The Public In 1924, And It Remains A Symbol Of The Value That One Person Can Attain Throughout His Life. The Principles We Remove From The Life Of JP Morgan, However, Affect Influence And Power. No Matter Who You Meet, Everyone Can Appreciate Pierpont Morgan's Uncompromising Integrity. Even Morgan's Main Rival, President Roosevelt, Could Not Help But Pay Homage To The Man: “Mr. Morgan Was Politically Opposed, But Whenever I Met Him, I Was Struck Not Only By His Great Strength But Also By His Honesty And Truthfulness. ”

         We Hope You Face Your Challenges With The Same Enthusiasm And Passion As JP Morgan: Honest And Sincere, In Whatever You Pursue. Of Course, We Also Hope That JP Morgan's Life Has Given You A Lot To Think About… But We Also Know That Sometimes It's Good Not To Think Too Much, Like When It Comes To Investing In A Simple App, Acorns. With Acorn, It's Easy To Make Automatic Payments For Your Future With Daily, Weekly, Or Monthly Donations. Acorn Also Makes It Possible To Purchase Your Credit Or Debit Card Purchases At A Nearby Dollar While Automatically Investing The Difference In You, Directly In Your Portfolio - Making Investing As Easy As Spending Money. And Don’t Worry About Choosing Rightstocks And Bonds, As Acorns Offers Portfolios Built Out Of The Box. Another Amazing Feature We Love About Acorn Is The “Earned Money” Section In Their App. Acorn Has Teamed Up With Hundreds Of Companiest Companies Looking To Invest In Your Future. For Example, If You Shop Through The Nike Throughthe Acorns App, Nike Will Invest 5% Of All Purchases In Your Investment Account. Best Of All, You Can Also Earn Money For Day-To-Day Value, Such As Gas Or Food Delivery, Which Will Invest 4% In Your Portfolio And All Purchases! Check Out The Link In The article Description Below, Or Go To Acorns Dot Com Slash Bc To Get Started Today. Also, As A Special Gift For All Business Casualviewers, Acorns Will Help Start Your Portfolio With A Five-Dollar Subscription Bonus. Even JP Morgan Would Love That! Thanks For reading! If You Enjoyed This article, Be Sure To Click The Like Button And Subscribe To See More article, Like This. If You Want To Learn More About J.P. Morgan, Be Sure To Check Out Ron Chernow's Book, Morgan's House, Found In The article Below. And If You Want To Be Notified As Soon As New article Come Live, Click The Metal Icon And Tap The “All” Option, As Shown On The Screen. … Until Then, Stay Alert.Thank for Visit Our Articals.