19th Century Financier

J.P. Morgan (1837 – 1913)

He began his career as an accountant in 1857 and became an agent for his father's banking company.

In 1871 he was named a partner in the firm of Drexel Morgan, which became the chief source of U.S. government financing. In 1895 the firm became the J.P. Morgan and Co. In the 1880s and '90s Morgan reorganized several major railroads. He was instrumental in achieving a stable railroad rate and discouraged competition, thus he became one of the world's most powerful railroad magnates.

After the panic of 1893, Morgan formed a syndicate to supply the U.S. Treasury's depleted gold reserves. Following the stock-market panic of 1907, he led the financial community in averting a general financial collapse.

He financed Edison and Tesla, and organized the mergers that formed General Electric, United States Steel Corp., and International Harvester Co. 

As an art collector, he donated many artworks to the Metropolitan Museum of Art.