WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ROBBER BARONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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J.P. Morgan ended humanitarian aid to foreign principalities and redistributed his wealth across the buisness industries of America.
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J.P. Morgan established the economic institution of bank loans and capitilized of the financial stress caused by the 1929 stock market crash.
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J.P. Morgan developed socialized medicinal practices as well as promoted the welfare of american immigrants by creating the welfare system.
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J.P. Morgan recognized as the first millionaire controlled the banking industry and funded many of the businesses of the Industrial age.
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Detailed explanation-1: -Morgan was a central figure in many of the most important transactions of the Industrial Revolution. He was an active investor in railroads, reorganizing the Albany & Susquehanna (1869), the New York Central (1885), the Philadelphia & Reading (1886), and the Chesapeake & Ohio (1888).
Detailed explanation-2: -J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. He reorganized several major railroads and became a powerful railroad magnate. He also financed industrial consolidations that formed General Electric, U.S. Steel, and International Harvester.
Detailed explanation-3: -Morgan helped to bail out the United States several times, including in 1895 when he was instrumental in saving America’s gold standard and arranged loans to the federal government totaling more than $60 million.
Detailed explanation-4: -During Morgan’s era, the United States had no central bank so he used his influence to help save the nation from disaster during several economic crises. In 1895, Morgan assisted in rescuing America’s gold standard when he headed a banking syndicate that loaned the federal government more than $60 million.