Jp Morgan Monopoly

Monopoly is not just a game that is occasionally played by dysfunctional families all around the United States. It was an entire era filled with scandal and big business brought on by the industrial revolution and the need to control an entire industry. With the technological advances of that time, it is easy to see just how the “ Big Fish” in the industry were able to control the market and just how that inevitably led to their downfall by a ravishingly bold young president. This slice cut out of the history pie goes to show that too much of a good thing can be very bad for everyone.

During the times of old, the faith in religion within the population went on without question. Everyone believed in the church and whatever the church had to

J. P. Morgan, the same person who would go on to buy Carnegie Steel, made all of his money through the railroads before trying his luck in the steel industry. It was quite easy for J. P. Morgan to make his millions seeing as how he was from a very wealthy and educated family. His father was a partner in a large dry goods business, his grandfather was the owner of Aetna Insurance, and finally, his mother was the daughter of a very famous poet. So when John Pierpont Morgan was born in Hartford, Connecticut on April 17, 1837, everyone knew that he would do something great in his lifetime. J. P. Morgan's first real job was as a clerk at an American bank firm. However, his first ever experience in merchanting was when he was in New Orleans, Louisiana when he came across a sailor with a boat full of coffee and no one to buy it. So Morgan bought all the coffee with the firm's money and sold it all for profit at the local stores. After that J. P. Morgan realized his full potential and quit his job as a clerk and created his own merchant company with a partner. J. P. Morgan had a couple of ups and downs in his early business days. He made a little money but nothing too incredible. However, in the year 1879 J. P. Morgan bought two hundred and fifty thousand shares in the New York Central Railroad. He then sold forty million dollars in railroad bonds in the years following the purchase. The number of bonds that J. P. Morgan sold in the railroad industry was the most in United States history. By 1901 J. P. Morgan had control of nearly one-third of all the railroads in the United States. In the same year of 1901, J. P. Morgan had already created his steel company called “ Federal Steel” and was looking to purchase Andrew Carnegie's steel company to further spread his empire. Andrew Carnegie accepted the generous offer of four hundred and eighty million dollars,