Answer:
He saved the American Economy and led to the establishment of the Federal Reserve.
Explanation:
JP Morgan was a businessman with contacts and investments in many different industries. These contacts, and his wealth, allowed him to wield huge control over the financial industry. This resulted in two big events. Firstly, there was the Gold Crisis of 1895. The US Treasury nearly ran out of gold and Morgan persuaded the president to use an old law to buy gold off him (And the rockefellers). This stabalised the American Dollar and averted crisis. A similar thing happened in 1907. Major New York banks were on the verge of collapse and Morgan held a meeting at his mansion where he forced the New York finaciers to come up with a plan. This they diid and the federal government saved the banks. Morgan also used his controlling interest in US Steel to buy the stock of a competitor whos stock was casuing a brokerage firm to collapse. Despite the anti trust legislation he purchased the stock, This restored confidence in the banking system and ensured the crisis was over.
More importantly, the event made the government realise that they couldnt rely on there always being a wealthy indiividual like Morgan to save the day should there be another crisis. This lead to the creation of the Federal Reserve System in 1913. This was a joint effort of a team of banking and political leaders, led by Senator Nelson Aldrich.
Answer: LITERATURE. Philippine folk tales, epics, poems, and chants existed in most ethnolinguistic groups and were passed from generation to generation through word of mouth. ... Baybayin (to spell) was the pre-colonial writing system in the Philippines.
Explanation: Pre-colonial literary pieces transferred in traditional narratives, speeches, and songs include Tigmo in Cebuano, Bugtong in Tagalog, patototdon ...
Answer:
Many government officials felt that Native Americans should be assimilated into America's mainstream culture before they became enfranchised. The Dawes Act of 1887 was passed to help spur assimilation. It provided for the dissolution of Native American tribes as legal entities and the distribution of tribal lands among individual members (capped at 160 acres per head of family, 80 acres per adult single person) with remaining lands declared "surplus" and offered to non-Indian homesteaders. Among other things, it established Indian schools where Native American children were instructed in not only reading and writing, but also the social and domestic customs of white America.
The Dawes Act had a disastrous effect on many tribes, destroying traditional culture and society as well as causing the loss of as much as two-thirds of tribal land. The failure of the Dawes Act led to change in U.S. policy toward Native Americans. The drive to assimilate gave way to a more hands-off policy of allowing Native Americans the choice of either enfranchisement or self-government.
