Question

How did JP Morgan justify his methods of doing business

Answer 1

JP Morgan justified his methods of doing business by saying that he was only keeping the system stable. According to him, this is what he said as quoted, “We do not want financial convulsions and have one thing one day and another thing on another day.” Hope this answers your question.

Answer 2

J. P. Morgan was an American banker who dominated finance during the Gilded Age. He was the head of the banking firm J.P. Morgan and Co., but he was a controversial character.

Some people saw Morgan as responsible for the strengthening of the national economy and as being committed to the improvement of the country's position internationally. However, his business practices often benefitted the rich only, or contributed to inequality. Morgan justified his methods by arguing for stability and for the good of the nation as a whole. However, the political left often considered him as one of the reasons for the social problems of the era.