“In 1895 at the depths of the Panic of 1893, JP Morgan loaned the US Treasury $65 million in gold to safeguard the collapse of the US government.” Robber Baron or Captain of Industry?

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18-02-2022
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“In 1895 at the depths of the Panic of 1893, JP Morgan loaned the US Treasury $65 million in gold to safeguard the collapse of the US government.” Robber Baron or Captain of Industry?

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Tundexi Tundexi · Answer 1 · 2022-02-21T13:03:13+01:00

JP Morgan is an example of Captain of Industry because as a business owner, he loaned the US Treasury about $65 million in gold to safeguard the collapse of the US government.

What is the Panic of 1893?

Panic of 1893 was a period of economic crisis in U.S. that led to collapse of some prominent employer of labor in the country.

In conclusion, JP Morgan is an example of Captain of Industry because as a business owner, he loaned the US Treasury about $65 million in gold to safeguard the collapse of the US government.