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:
john
On that day it will be said: "Behold our God, to
whom we looked to save us! This is the LORD for whom we
looked; let us rejoice and be glad that he has saved us!"
Answer:The phrase “city on a hill” refers to a community that others will look up to. John Winthrop used this phrase to describe the Massachusetts Bay colony, which he believed would become a shining example of Puritan perfection.
Answer:
Feudal aid is the legal term for one of the financial duties required of a feudal tenant or vassal to his lord. Variations on the feudal aid were collected in England, France, Germany and Italy during the Middle Ages, although the exact circumstances varied.
Explanation:
