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'''John Pierpont Morgan''' (April 17, 1837 – March 31, 1913) was an American financier, banker, philanthropist, and art collector who dominated corporate finance and industrial consolidation from the 1890s to 1913. In 1892 Morgan arranged the merger of Edison General Electric and Thompson-Houson Electric Company to form [[General Electric]]. After financing the creation of the Federal Steel Company he merged the [[Carnegie Steel Company]] and several other steel and iron businesses to form the [[United States Steel Corporation]] in 1901. He played a key role in ending the [[Panic of 1907]].  A leading art collector he bequeathed much of his large collection to the [[Metropolitan Museum of Art]] in New York City.  At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and was a ccused by critics of controlling the nation's high finance. By 1901, he was one of the wealthiest men in the world.  

'''John Pierpont Morgan''' (April 17, 1837 – March 31, 1913) was an American financier, banker, philanthropist, and art collector who dominated corporate finance and industrial consolidation from the 1890s to 1913. In 1892 Morgan arranged the merger of Edison General Electric and Thompson-Houson Electric Company to form [[General Electric]]. After financing the creation of the Federal Steel Company he merged some of the largest independent steel companies into [[United States Steel Corporation]] in 1901, the first billion-dollar industrial corporation. Morgan played a key role in rescuing the U.S. Treasury in 1895 and ending the [[Panic of 1907]].  A leading art collector he bequeathed much of his famous collection to the [[Metropolitan Museum of Art]] in New York City.  At the height of Morgan's career during the early 1900s, he and his partners in New York and London had financial investments in many large corporations and were accused by critics of controlling the nation's high finance. By 1901, he was one of the wealthiest men in the world.  

He was the greatest banker and financier of the Progressive Era, and his dedication to efficiency helped transform American business. Morgan redefined conservatism in tems of financial prowess coupled with strong commitments to religion and to high culture.

He was the greatest banker and financier of the Progressive Era, and his dedication to [[Efficiency movement|efficiency]] helped transform American business. Morgan redefined conservatism in tems of financial prowess coupled with strong commitments to religion and to high culture.

== Early life and education ==

== Early life and education ==

J.P. Morgan was born in Hartford, Connecticut, to [[Junius Spencer Morgan]] (1813—1890) and Juliet Pierpont (1816—1884) of [[Boston, Massachusetts]]. Pierpont, as he preferred to be known, had a varied education due in part to interference by his father, Junius.  In the autumn of 1848, Pierpont transferred to the [[Hartford Public School]] and then to the Episcopal Academy in Cheshire, Connecticut.  In September 1851, Morgan entered English High School of Boston, a school specialising in mathematical preparation for business careers.  

J.P. Morgan was born in Hartford, Connecticut, to Junius Spencer Morgan (1813—1890), an international banker based originally in London, and Juliet Pierpont (1816—1884) of Boston. Pierpont, as he preferred to be known, had a varied education including the Hartford public schools and the Episcopal Academy in Cheshire, Connecticut.  In 1851, Morgan entered English High School of Boston, a school specializing in mathematical preparation for business careers. In the spring of 1852, an illness that was to become more common as his life progressed struck; [[rheumatic fever]] left him in so much pain that he couldn't walk.  His father sent the boy to the [[Azores]] in order for him to recover.  After convalescing for almost a year, Pierpont returned to the school in Boston. After graduation he attended a private school near the Swiss village of Vevey. When Morgan had attained fluency in French, his attended the University of Göttingen in order to improve his German.   

 

In the spring of 1852, illness that was to become more common as his life progressed struck; [[rheumatic fever]] left him in so much pain that he couldn't walk.  Junius sent the boy to the [[Azores]] in order for him to recover.  After convalescing for almost a year, Pierpont returned to the school in Boston. After graduation he attended a private school near the Swiss village of Vevey. When Morgan had attained fluency in French, his attended the University of Göttingen in order to improve his German.   

==Career==

==Career==

=== Early years ===

=== Early years ===

Morgan entered banking in his father's London branch in 1856, moving to [[New York City]] the next year where he worked at the banking house of Duncan, Sherman & Company, the American representatives of George Peabody & Company. From 1860 to 1864, as J. Pierpont Morgan & Company, he acted as agent in New York for his father's firm. By 1864-71 he was a member of the firm of Dabney, Morgan & Company; in 1871 he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company.  

Morgan entered banking in his father's London branch in 1856, moving to New York the next year where he worked at the banking house of Duncan, Sherman & Company, the American representatives of George Peabody & Company. From 1860 to 1864, as J. Pierpont Morgan & Company, he acted as agent in New York for his father's firm. By 1864-71 he was a member of the firm of Dabney, Morgan & Company; in 1871 he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company.  

In 1895 it became J. P. Morgan & Company, and retained close ties with Drexel & Company of Philadelphia, Morgan, Harjes & Company of Paris, and J. S. Morgan & Company (after 1910 Morgan, Grenfell & Company), of London. By 1900 it was one of the most powerful banking houses of the world, carrying through many deals especially reorganizations and consolidations. Morgan had many partners over the years, such as [[George W. Perkins]], but remained in firm charge.<ref>Garraty, (1960) </ref>

In 1895 it became J. P. Morgan & Company, and retained close ties with Drexel & Company of Philadelphia, Morgan, Harjes & Company of Paris, and J. S. Morgan & Company (after 1910 Morgan, Grenfell & Company), of London. By 1900 it was one of the most powerful banking houses of the world, carrying through many deals especially reorganizations and consolidations. Morgan had many partners over the years, such as [[George W. Perkins]], but remained in firm charge.<ref>Garraty, (1960) </ref>