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IrinaVladis [17]
3 years ago
7

What was the transcontinental railroad?

History
2 answers:
kvasek [131]3 years ago
4 0
B one that stretched from coast to coast
Blizzard [7]3 years ago
3 0

Answer:

A) one that stretched from Canada to Mexico

B) one that stretched from coast to coast

Explanation:

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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.

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