Morgan was also a visionary. Morgan formed a syndicate to secretly sell the holdings through his father in England. In exchange for his work on this deal, Morgan received a seat on the New York Central board and established his role as a financial intermediary between the railroad companies and English investors. The wealthy friends Morgan made during his youth in America and schooling in Europe were instrumental in his success.
While few entrepreneurs have the luck to be born into wealthy, prominent families, anyone is capable of tapping into the network of individuals who are working hard to bring about change in Africa. Entrepreneurs should take every opportunity to meet new people and make connections. In , gold reserves had dwindled to almost nothing. Morgan created a plan for bankers to invest gold directly into the government, but President Grover Cleveland chose to authorize the sale of gold bonds instead.
Unfortunately, the government did not have the time to sell gold bonds, and the situation was deteriorating. Morgan found a loophole in an law that allowed the Secretary of the Treasury to issue bonds to buy gold coins without congressional approval. This loophole led to the end of the panic as J. Morgan once said that the first step towards getting somewhere is to decide that you are not going to stay where you are. Two years later, he tried to enter the London Subways market but was unable to convince Parliament to permit his project.
In that same year, J.
Despite these failures, J. Morgan followed his own advice and kept moving forward. Stories about J. His strategy to bring people together was to isolate the relevant parties and set a deadline for agreement. In , there was another panic on Wall Street.
He gathered the trust company presidents in his library, locked the door, and refused to let them out until they came to an agreement. The bankers argued all night, sometimes sending comments or suggestions to Morgan, who refused to budge. When dawn came without an agreement, Morgan stormed in with a contract and a pen, instructing the presidents to sign. They all did. Americans like J. Just as Morgan connected with savvy Europeans who sought to help this fledgling country gain a foothold, African entrepreneurs can and should seek out funding from investors and other sources across the globe.
Entrepreneurs must gather all available knowledge to make wise financial decisions, but it will come to nothing if the people they surround themselves with do not have integrity. How will you be remembered?
Classroom Lesson: The Panic of 1907: J.P. Morgan and the Money Trust
While J. Morgan was passionate about art of all kinds and collected thousands of artifacts, the vast majority of which he donated to museums including the Metropolitan Museum of Art and the American Museum of Natural History. These essays are designed to challenge a student's understanding of the broad points in a work, interactions among the characters, and main points and themes of the text. But, they also cover many of the other issues specific to the work and to the world today. The 60 Short Essay Questions listed in this section require a one to two sentence answer.
They ask students to demonstrate a deeper understanding of The House of Morgan by describing what they've read, rather than just recalling it. The short essay questions evaluate not only whether students have read the material, but also how well they understand and can apply it. They require more thought than multiple choice questions, but are shorter than the essay questions.
The Multiple Choice Questions in this lesson plan will test a student's recall and understanding of The House of Morgan. Use these questions for quizzes, homework assignments or tests. The questions are broken out into sections, so they focus on specific chapters within The House of Morgan.
This allows you to test and review the book as you proceed through the unit. Typically, there are questions per chapter, act or section. Use the Oral Reading Evaluation Form when students are reading aloud in class. Pass the forms out before you assign reading, so students will know what to expect. You can use the forms to provide general feedback on audibility, pronunciation, articulation, expression and rate of speech. You can use this form to grade students, or simply comment on their progress.
Use the Writing Evaluation Form when you're grading student essays. This will help you establish uniform criteria for grading essays even though students may be writing about different aspects of the material. By following this form you will be able to evaluate the thesis, organization, supporting arguments, paragraph transitions, grammar, spelling, punctuation, etc. They pull questions from the multiple choice and short essay sections, the character and object descriptions, and the chapter abstracts to create worksheets that can be used for pop quizzes, in-class assignments and homework.
Periodic homework assignments and quizzes are a great way to encourage students to stay on top of their assigned reading. They can also help you determine which concepts and ideas your class grasps and which they need more guidance on.
John Pierpont Morgan
By pulling from the different sections of the lesson plan, quizzes and homework assignments offer a comprehensive review of The House of Morgan in manageable increments that are less substantial than a full blown test. Use the Test Summary page to determine which pre-made test is most relevant to your students' learning styles.
This lesson plan provides both full unit tests and mid-unit tests. You can choose from several tests that include differing combinations of multiple choice questions, short answer questions, short essay questions, full essay questions, character and object matching, etc. Some of the tests are designed to be more difficult than others. Some have essay questions, while others are limited to short-response questions, like multiple choice, matching and short answer questions.
If you don't find the combination of questions that best suits your class, you can also create your own test on The House of Morgan.
If you want to integrate questions you've developed for your curriculum with the questions in this lesson plan, or you simply want to create a unique test or quiz from the questions this lesson plan offers, it's easy to do. Scroll through the sections of the lesson plan that most interest you and cut and paste the exact questions you want to use into your new, personalized The House of Morgan lesson plan.
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- Classroom Lesson: The Panic of J.P. Morgan and the Money Trust | FRASER | St. Louis Fed.
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Short Answer Questions Key. Oral Reading Evaluation Sheet. Reading Assignment Sheet. Writing Evaluation Form. One Week Quiz A. Two Week Quiz A.