188 years ago today, April 17, 1837 (March 13, 1837, the lunar calendar), was the birthday of American financier Morgan. Financial oligarch J. Pierpont Morgan is an important figure in the history of American economic development. alias J.P. Morgan, he has made indelible contributions to the development of the American economy. He was also the most important industrialist in the United States in the 1900s. He helped raise funds for the United States 'basic industries and made outstanding achievements in many fields-including railways, steel, telephone, electricity, banking, and insurance. After hard work, J.P. Morgan gained a firm foothold in the financial world, defeated his opponents one by one, became the number one person on Wall Street in New York City, and became the hegemon of the U.S. economy. J.P. Morgan was born on April 17, 1837, into a wealthy merchant family in Hartford, Connecticut. Although this is an ordinary person like other children, the future direction of Wall Street will change because of his birth. From his grandfather Joseph to his father Junils? Morgan, the Morgan family is very successful in business. Morgan's ancestors immigrated to the United States during the gold rush in the New World in the early 17th century and settled in Massachusetts. To J.P. Morgan's grandfather Joseph? While Morgan was still there, he sold his farm in Massachusetts and settled in Hartford. Joseph? Morgan initially ran a small cafe. After saving a little after hard work, he first invested in running a very grand hotel, and then bought shares in the canal and became a shareholder in the steamship and railway industries. What really shows its true nature as a speculator and risk-taker is its investment in the insurance industry. Junils? Morgan J. P. Morgan's father, Junils? Morgan was a wealthy businessman in New England who started wholesale dried vegetables. In 1851, the famous banker George Peabody invited Junils? Morgan joined in to form George? Peabody Company specializes in buying and selling U.S. Treasury bonds, state bonds, stocks and foreign exchanges. Their business is booming and they have successfully introduced a large amount of British hot money into the United States, which is extremely short of funds. George? Peabody had no children in his life and no one inherited his huge industry. In George? After Peabody retired, Junils? Morgan took over all the business and renamed the company Junils? Junius S. Morgan and Company Morgan severely asked his son J.P. Morgan to take over the family business and help him choose courses to study in Switzerland and Germany. After graduating from college, he interned at Duncan's Firm, a friend of his father's on Wall Street. Perhaps it is precisely because of this special family atmosphere and business influence that Morgan dared to think and do since he was young, and was full of business risks and speculative spirit. In 1862, the American Civil War was raging. One day, J.P. Morgan occasionally received news that the Union Army had suffered heavy casualties in a battle. J.P. Morgan, who was quite a businessman, immediately realized that gold would rise in the recent defeat of the Union Army, which was a good time to speculate. So, he quickly teamed up with his business partners and secretly bought four to five million dollars in gold, remitted half to London and left the other half, and then deliberately leaked the matter of transferring gold to London. The defeat of the Union army caused panic, and the gold price in New York really rose sharply, and even the main price in London was driven up steadily. J.P. Morgan sold gold and made a fortune. In 1870, the Franco-Prussian War broke out. The French government sent people to London to finance the purchase of arms, but no London bankers dared to borrow money. Just as London bankers refused, Junius said Morgan stepped forward and issued a £ 10 million syndicated loan to France. As expected, the following year, France was defeated, and then the Paris Commune broke out. The turbulent situation seems to have cost 10 million yuan in loans. Surprisingly, although France was defeated, it kept its promise to repay the bonds. Junius? Morgan earned a net profit of £ 1.5 million. As a result, these two big bets made the Morgan and his son leap from unknown bankers to financial giants who spanned London-New York. The Morgan family has since stood on the world stage. The Morgan family has also extended its reach into industry. First, Edison General Electric Company was merged with Thomson Company to form a new company, today's General Electric Company. Then he spent US$400 million to acquire Carnegie's Steel Company and formed U.S. Steel, the world's largest steel company, controlling 65% of U.S. steel production in one fell swoop. In 1895 and 1907, the financial crisis occurred in the United States. J.P. Morgan turned the tide alone and finally saved the American economy. He was called the savior of the United States. At its peak, the Morgan Consortium owned 25% of the U.S. corporate capital, 33% of the financial capital, and 65% of the insurance industry. It controlled 65% of the U.S. steel production and 30% of the U.S. railways... The Morgan Consortium also successively issued bonds for France, the United Kingdom, Mexico, Argentina and other countries, becoming a veritable world creditor. Before the establishment of the Federal Reserve, the Morgan Consortium actually acted as the central bank of the United States. The Wall Street forces led by the Morgan Group have finally aroused the vigilance of the U.S. government. In 1930, the U.S. Congress passed a bill separating commercial banking from investment banking for financial institutions. The giant J.P. Morgan was divided into two, and this is today's JPMorgan Chase and Morgan Stanley. Even so, both companies are still among the Fortune 500 companies. It's worth mentioning, J? P? When Morgan died on March 31, 1913, it was discovered that all his assets were only US$60 million. John? D? Rockefeller commented publicly that this amount of property was not even enough to make Morgan a "rich man." The reason is that he has never had much interest in amassing money. For Morgan, rationalizing the U.S. economy is more important. Over a century and a half, four generations of the Morgan family have created mysterious financial empires on Wall Street and the City of London. With countless investments, this financial empire has woven an extremely complex network of human relationships in the economic, social, political and diplomatic fields. The success of the Morgan family is the epitome of Wall Street's success. The "Morganized management system" created by the Morgan family still governs and affects everything on Wall Street. This business idea and strategy runs through the entire process of capitalism from childhood to adulthood.