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American Experience
J.P. Morgan: The Financier
John Pierpont Morgan was an American financier and industrial organizer during the Gilded Age. In 1885, America was years into a depression, and gold reserves were down more than 50%. Morgan feared that if the U.S. dollar was devalued, his fortune would be in jeopardy. So he urged President Cleveland to consider a plan — one that eventually led to the rebound of the nation’s gold reserves.
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