John Pierpont Morgan played an existential role in the foundation of the United States of America. Without Mr. Morgan, the world would not correlate the name of Edison to the creation of the light bulb. If Morgan ceased to exist, there would be no such cinematic need for the movie Night at the Museum. J.P. Morgan was one of the four men who formed the basis of modern-America during the industrialization period (1820-1870). The four businessmen who developed industrial America were littered with corruption and ruthless business tactics. On the other hand, Morgan was far more reputable in comparison to Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller. J.P. Morgan was Not only was Morgan a brilliant business man, but he used his …show more content…
John Pierpont Morgan used his intellect and fortitude to navigate through the modernizing period of America, with his resources and pure worth he was able to transform and shape the United States socially and economically. Mr. Morgan saw the benefit of using his wealth in order to benefit the society as a whole. This can be seen through his rescuing of the US economy during the Panic of 1893. According to American historian H.W. Brands (2010), “The Treasury was on the verge of collapse. Within days, the gold would be gone. The government would be bankrupt.” In order to reverse the chaos, JP Morgan used his mastery of the stock market and approval by President Cleveland to transfer money from the prosperous businesses to the weaker ones in order to keep everyone afloat. Sure enough, it worked and the economy began to regain speed. Due to Morgan’s willingness to help and knowledge of the economy, he …show more content…
J.P. Morgan held too much control over the economy and used that power to manipulate the country. This can be seen through his forced testification before a congressional committee because it was believed that, “the existence of a “money trust,” a small cabal of elite Wall Street financiers, including Morgan, who allegedly colluded to control American banking and industry” (History.com Staff, 2009). In other words, Morgan was involved in a group that conspired to monopolize America. It can be seen that his testification was important as it led to the creation of the American Federal Reserve System which adds a streamline and more secure way to handle banking in the US. Though Morgan may be classified as a wonderful business man, there are lots of aspects to be questioned. Morgan needed McKinley in the White House in order to preserve his personal worth and ability to control. Morgan used his position of power to blackmail his voters into voting his way. It was said by the staff at History UK in 2015 that, “voting was a public affair and workers know they may be fired if seen to be voting for Bryan. McKinley wins. He rolls back regulations.” Morgan manipulated his workers in order to have a president that would repeal laws that inhibited him from having a total monopoly. Blackmailing does calls Morgan’s character