J.p. Morgan :: essays research papers

J.P. Morgan Essay   Ã‚  Ã‚  Ã‚  Ã‚  My life on the whole has helped the whole country prosper. I give away so much money to great causes. I also help the government with monetary crises. I admit that I am very wealthy. But is having money a crime in this capitalist country? Definitely not. I obtained my wealth by hard work and dedication. I never once backstabbed or stepped on people to get what I wanted.   Ã‚  Ã‚  Ã‚  Ã‚  I have helped and continue to help companies that are in need of money. I have financed International Harvester, American Telephone and Telegraph, and General Electric. Without the money I gave these companies, they would never have existed. In essence, I have helped create great companies such as the above. How is this unethical?   Ã‚  Ã‚  Ã‚  Ã‚  Not only do I help companies; I help the government whenever possible. After the panic of 1893, I helped reorganize railroad companies such as Northern Pacific, Erie, Southern, and the Philadelphia and Reading. The government didn’t have the capital to aid these companies so I did because it needed to be done. Also, in 1895 I sold my firm’s $62 million government bond issues. Due to this, I helped end the gold shortage in the U.S. Treasury. In 1907 I loaned money to banks to keep them from closing after the panic of 1907. As shown above, I have aided the government several times out of the generosity that is in my heart.   Ã‚  Ã‚  Ã‚  Ã‚  Helping the government and companies is good, but I wanted to give back to society. In order to do this, I decided to donate and help found public associations. I founded the Lying-In Hospital in New York City and gave a large sum of money to the Harvard Medical School. In addition, as an ardent Episcopalian, I gave a large portion of funds to build the Cathedral of Saint John the Divine in New York City.