Impact Of John Pierpoint Morgan

Using his excess of wealth John Pierpoint Morgan, a successful banker and owner of U.S. Steel, helped the economy, revolutionized the steel industry and to a few favored causes was a generous philanthropist. Junius Spencer Morgan, father of John Pierpoint Morgan was a successful international banker who would leave behind a large fortune to his son. John Pierpoint Morgan would follow in his father’s footsteps and become a successful banker. John Pierpoint Morgan was the owner of U.S. Steel, the world's first billion dollar corporation. John Pierpoint Morgan used his monetary influence in many ways that affected America, he helped pull the economy out of collapse in 1907, became a philanthropist to a few favored causes and would later become

The government called upon John Pierpoint Morgan, among many, to help pull it out of said collapse. "To stem the economic collapse, the federal government turned to New York City's John Pierpoint Morgan, the nation's wealthiest banker...requesting that they lend $40 million to rescue selected banks and businesses" (" Panic of 1907"). John Pierpoint Morgan was held in such a high financial esteem that when something as enormous as a potential economic collapse was brewing the government turned to him. This shows how wealthy and powerful he was at this time. "Despite this conflict, Morgan responded to Roosevelt's call to help save the U.S. financial system during the Panic of 1907" ("Panic Of 1907"). One of Morgan’s largest monopolies had just been split up due to Roosevelt, the current president. Setting this aside Morgan replied to the government by lending them the $40 million they had requested. Despite his flaws John Pierpoint Morgan played a major role in the stability of the government in the 20th

" He was the driving force behind the rise of the Metropolitan Museum of Art, serving as president and donating extensively from his personal acquisitions " (Levenick). John Pierpoint Morgan made the largest overall contribution to the Metropolitan Museum of Art showing his dedication to the Museum. " He was often the museum’s lead donor—frequently giving under condition of anonymity " (Levenick). Morgan was not donating to these causes for good publicity. He was donating to them because he genuinely cared and believed in what they were doing. His extensive anonymous donations illustrate this. Even though John Pierpoint Morgan was concentrated on being the owner of a billion dollar corporation he still made time and numerous donations to many