How Did Jp Morgan Influence The Economy

The Influential Pierpont Throughout the history of United States, there have been many great men and women, who molded the country into what it is today. John Pierpont "J.P." Morgan, helped build the United States’ economy to a worldwide powerhouse. He laid the foundation for the economy through his work as a financier and banker. In 1871, he founded J.P. Morgan & Co., which became one of the leading financial firms in the country. His impact was so great that it continues to influence the United States economy even to this day. Over 100 years later J.P. Morgan’s bank is still the leading bank in the United States. While John D. Rockefeller and Andrew Carnegie are the original faces of the US industrial economy, JP Morgan should be compared to these icons due to his helping consolidate railroad industry in the East, formed the United States Steel Corporation, and helped create General Electric. On top of all that, the strongest bank in the United States, and

Morgan later years he still continued to invest, but he wasn’t nearly involved as he was at his prime. Until he started to invest in the making of the Panama Canal. Before the Panama Canal, ships had to sail all the way around South America, but after it was completed it saved days of sailing and made transporting goods a lot more efficient. He was the middle man between the workers in Panama and the U.S. Government. He never got to see the Panama Canal finish. At the age of 75, J.P. Morgan died in his sleep awhile in Rome, Italy. He left all his money and businesses to his son J.P. Morgan Jr. Still to this day J.P. Morgan’s legacy lives on through his bank J.P. Morgan & Co., which just in the year 2000 joined with Chase bank to become J.P. Morgan Chase & Co. His methods of organizing businesses to be more efficient, which are stilled used on wall street and all over the world today. And all of his great achievements he was in part of, like the Panama Canal, General Electric, and U.S.