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Due to The Biography.com website, Article titled J.P. Morgan Biography, published on 27 April 2017, visited on 29 January 2018, Born into a prominent New England family in 1837, J.P. Morgan began his career in the New York financial industry in the late 1850s. "He co-founded the banking firm that became J.P. Morgan & Co. in 1871", and in the 1880s he established himself as a power player in the country's railroad industry. Along with amassing immense wealth through the creation of such corporations as U.S. Steel, "Morgan led efforts to bailout the U.S. Treasury in 1895 and 1907." He died in Rome in 1913, leaving behind a world- renowned art collection and a business that remained a financial powerhouse into the 21 century.

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According to The famouspeople.com website, Article titled J.P. Morgan biography, reported on 14 September 2017, visited on 30 January 2018, After the Civil war Morgan joined his father's firm, J. Pierpont Morgan & company, where he worked until 1864. With help of newly founded private banking firm, Morgan "Continued to make investments and acquisitions." He backed Thomas Edison Projects and laid the financial foundation for Edison Electric company. Notice the requirement of huge quantities of steel in rail and trains, Morgan founded as well as acquired a "large amount of steel making creations. In 1901," he formed the U.S steel company by "merging Carnegie steel works along with several other steel and iron industries.

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As reported by History.com website, Article named J.P Morgan, access on 29 January 2018, written by History.com Staff, In 1895, their firm was reorganized as J.P. Morgan & Company, a predecessor of the modern-day financial giant JPMorgan Chase. Morgan used his influence to help stabilize American financial markets during several economic crises, including the panic of 1907. However, he faced criticism that he had too much power and was accused of manipulating the nation’s financial system for his own gain. The Gilded Age titan spent a significant portion of his wealth amassing a vast art collection.

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As stated in Encyclopaedia Britannica, article titled as J.P. Morgan American Financier, written by the editors to encyclopaedia Britannica, published on 26 january 2018, and visited on 30 january 2018, Morgan in 1901 joined in merging it with the giant "Carnegie Steel Company and other steel companies to form United States Steel Corporation," which was the world’s "first billion-dollar corporation." In that same year he organized, with less subsequent success, the International Mercantile Marine, an amalgamation of a majority of the transatlantic shipping lines, notably including White Star.

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Confirming with History.co.Uk, article named biography J.P. Morgan, visited on 29 January 2018, The process of creating a monopoly through the elimination of competition and the maximisation of profits by slashing the workforce and reducing their wages is named after JP Morgan.

But as profits soar, working conditions sink. Pay reduces so that the average worker earns barely a dollar a day, Over 90% of Americans survive on less than $100 per month. Working hours and workplace fatalities increase.

In a single year, more men die inside a steel mill than died at the Battle of Gettysburg.

Monopolies, cartels and trusts dominate everyday life.

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http://www.history.com/topics/john-pierpont-morgan
https://www.biography.com/people/jp-morgan-9414735
https://www.thefamouspeople.com/profiles/j-p-morgan-6606.php
http://www.history.co.uk/biographies/j-p-morgan
https://www.britannica.com/biography/J-P-Morgan

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