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.
Pork barrel is unnecessary, a project of congressman for their own districts. It is the politicians - senators and their constituents benefited the pork barrel. They include unconnected expenses into bills which are then passed at a higher cost to the people. These projects help them support their voter by feeding money from other projects back into their own district.
Answer:
Explanation:
he settlers demanded greater representation and more power from the Mexican Government. Revolts broke out in 1832 and 1833. Instead, General Santa Anna, dissolved the national congress late in 1834, and became dictator in Mexico. In Texas, American settlers decided to promote their own independence from Mexico
