J.P. Morgan's involvement in the panic of 1893 set the American industry at its lowest as there was a huge economic depression and the nation's whole currency was dropping down. Insolvency of the government was inevitable unless a source of income was found.
<u>Explanation</u>:
- The U.S. economy was deteriorating under the falling prices and rising unemployment due do the panic of 1893.
- The treasury's reserves were also dropping due to the failing centralized banking system and the currency was not backed by gold.
- By January 24th 1895, the treasury reduced from a floor containing 100$ million to 68$ million.
- Wall Street financial John Pierpont Morgan. Son and grandson of Wall Street bankers, Morgan may have been the most repulsive man on the Street.
- Morgan as a secretive became the voracious gobbler of businesses including railroads and other businesses.
- He was an original Wall Street shark, swooping in to withhold a company that is not suspecting and then retreating into the murky liquidity of finance, leaving only his presence.
- Using his financial power to extract concessions from major U.S. companies, he exposed himself onto the ranks of managing boards by exchanging forgiveness of debt for seats.
- Grover Cleveland knew Morgan’s reputation and avoided his offers of help as long as he could but eventually he took his help later on.
Yes they join the American revolution and help them win.
Answer:
borrowed utensil
Explanation:
I took a test on edge and got it right. :)
Answer: Holy War (Jihad)
Explanation:
The first Turkish people to embrace Islam as a whole was called Karahanid (Derived from the words Kara Han or Black Ruler). It happened during the X century. The expansion of Islam in the Arabian Peninsula was rapidly taking place. So, over time, the Turkish tribes also happened. Soon all tribes in the territory of present-day Turkey received Islam.
The expansion and expansion of the Ottoman Empire can be linked to religion. According to Islamic understanding, Muslims have to spread their faith. It is a term known as Jihad. The Ottomans indeed adhered to this idea, and were guided by this idea of embarking on a holy war against unbelievers.
An excellent military organization influenced the expansion of the Ottoman Empire. However, many historians claim that this religious fanaticism is one of the significant factors behind the enormous development of the Ottoman Empire.