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History > J.P. Morgan (1837–1913) > Flashcards

J.P. Morgan (1837–1913) Flashcards

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1
Q

When was J.P. Morgan born?

A

April 17, 1837

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2
Q

Where was J.P. Morgan born?

A

Hartford, Connecticut

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3
Q

Who was J.P. Morgan’s father, and what was his occupation?

A

Junius Spencer Morgan, a successful financier

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4
Q

In what year did J.P. Morgan start his career in finance?

A

1857

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5
Q

What is J.P. Morgan best known for?

A

Consolidating industries, stabilizing the U.S. economy, and creating U.S. Steel

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6
Q

Which industry did J.P. Morgan help to create the first billion-dollar corporation?

A

Steel (U.S. Steel in 1901)

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7
Q

During which financial panics did J.P. Morgan help save the U.S. economy?

A

The financial panics of 1893 and 1907

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8
Q

What major industry did J.P. Morgan consolidate and reorganize?

A

Railroads

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9
Q

What was one of J.P. Morgan’s key achievements in art?

A

Building a vast art collection that formed the basis for the Morgan Library & Museum

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10
Q

What nickname did J.P. Morgan earn due to his influence in finance?

A

The Napoleon of Wall Street

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11
Q

What major economic system did J.P. Morgan’s actions contribute to the creation of?

A

The Federal Reserve in 1913

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12
Q

In what period did J.P. Morgan live?

A

The Gilded Age

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13
Q

How did the lack of federal regulation during the Gilded Age affect J.P. Morgan’s work?

A

It allowed him to control vast portions of industries with little oversight.

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14
Q

How did J.P. Morgan influence the U.S. government during the financial panic of 1907?

A

He bailed out the U.S. government, stabilizing the economy.

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15
Q

What was the Pujo Committee, and how did it relate to J.P. Morgan?

A

A congressional investigation in 1912 into monopolies, revealing Morgan’s control over the economy.

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16
Q

What major event did J.P. Morgan’s financial interventions help lead to?

A

The establishment of the Federal Reserve in 1913

17
Q

Which famous inventor did J.P. Morgan financially support, contributing to the rise of electricity in America?

A

Thomas Edison

18
Q

Fill in the blank: J.P. Morgan was instrumental in the creation of ____ in 1901, the first billion-dollar corporation.

A

U.S. Steel

19
Q

Fill in the blank: J.P. Morgan played a major role in the consolidation and reorganization of the _____ industry.

A

Railroad

20
Q

Fill in the blank: J.P. Morgan’s influence during the financial panic of 1907 highlighted the need for the establishment of the _____.

A

Federal Reserve

21
Q

What personal feature made J.P. Morgan avoid being photographed?

A

A nose deformity caused by rosacea

22
Q

What was J.P. Morgan’s role in General Electric’s creation?

A

He financially backed Thomas Edison’s ventures, contributing to the rise of electricity.

23
Q

What did the Pujo Committee reveal about J.P. Morgan?

A

His immense control over the U.S. economy and monopolistic practices.

24
Q

What philanthropic contribution is J.P. Morgan known for?

A

Donating his vast art collection to museums, especially the Morgan Library & Museum.

25
Q

Fill in the blank: J.P. Morgan was nicknamed ‘The _____ of Wall Street.’

A

Napoleon

26
Q

What quirky fact about J.P. Morgan involved photographers?

A

He strongly disliked having his picture taken due to his nose deformity, even threatening photographers.

27
Q

During what financial crisis did J.P. Morgan essentially act as a central bank before the Federal Reserve existed?

A

The financial panic of 1907

28
Q

What key legacy did J.P. Morgan leave behind in the financial world?

A

His influence led to the creation of the Federal Reserve, modernizing the U.S. financial system.

29
Q

How did J.P. Morgan change the structure of American corporations?

A

Through mergers and consolidations, setting the stage for the modern corporation.

30
Q

Who was J.P. Morgan’s primary competitor or opposition in the realm of monopolies?

A

Antitrust legislation and the U.S. government through the Pujo Committee investigation.

31
Q

Fill in the blank: J.P. Morgan helped stabilize the U.S. economy during the financial panic of _____.

A

1907

32
Q

What was one of J.P. Morgan’s most significant art-related achievements?

A

Leaving behind an art collection valued at $60 million, forming the core of the Morgan Library.

History (233 decks)

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