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Transcript of J.P. Morgan
Who was J.P. Morgan?
J.P. Morgan was a well known monopoly, he took after his father banking company.
He went into banking in 1857 at his father's London branch
After the death of his father in 1890, Morgan took control of J. S. Morgan & Co
Just a little Review
What do you think?
focuses all their efforts on creating a benefit for themselves
They exploit wealth.
Captain of Industry
is a leader in their field
The prosperity that their expertise generates does not necessarily go directly to them.
It advances or benefits the entire economy.
They create wealth
Do You Get this Reference?
What do you think this means?
Do you agree?
James Pierpont, J.P. Morgan's uncle wrote "Jingle Bells" in 1857
One of Morgan's maternal ancestors, James Pierpont, was the founder of Yale University
J.P. Morgan helped christen the Titanic and had a stateroom booked for the ships maiden voyage in 1912. At the last minute decided to stay in Europe instead of making the transatlantic trip
I Bet You Did Not Know
Here are some words I think relate
What did you learn today? :)
A Little Background
His full name was John Pierpont Morgan
He was born on April 17,1837 in Hartford Connecticut.
He died on March 31,1913 in Rome, Italy (age 75) leaving his fortune and business to his son.
The term "Morganization" was Morgan's process of taking over troubled business to reorganize them
Captain of Industry
Captain of Industry?
J.P. Morgan can be considered a Captain of Industry because he did help save the government from financial collapse and made money in the process. He could transform failing companies into very profitable ones. Also, in 1893 Morgan helped financial panic and helped the railroad industry recover.
J.P. Morgan used all the interest he collected from his bank and the income from the American Steel Company to fund large projects of his and to purchase many luxury items while most Captain of Industries would donate their money instead.
Morgan would gain control over many properties/ companies through his process of taking over. He would use trusts to add costs to operations and reduce the value of original bondholders.
6. Captain of Industry or robber baron? why?
1.T/F: Jp Morgan was a famous professor.
2. Was his name John Pierpont or James Patrick?
3. T/F: he took after his fathers London branch.
4.What year did he go into banking?
5. What is morganization?