From the dispute between Hamilton and Jefferson, the founding father, to J·P· Morgan's appeal to Wall Street to save the American economy on the verge of collapse.
The monopoly power of the consortium gradually controlled the economic lifeline of the whole United States, and at the same time promoted the growth and expansion of the whole American economy unprecedentedly.
Studying together with Netease Open Class of # American Architect #, I have a deep understanding of the logic behind the rise of the United States before World War I and the official emergence of Wall Street as a world financial center after World War I. ..
Vanderbilt started with shipbuilding and eventually owned the largest shipping company in the United States, and was called "captain" by Americans. After that, he sold all his shares, went to Wall Street to buy and merge railway companies, and finally built a railway empire covering the whole of North America, which also promoted the great circulation of goods throughout the United States in an unprecedented way.
However, the railway capacity is surplus, and more goods are needed to fill the trains. After the discovery of oil in Pennsylvania, Rockefeller saw that his fate began to improve, but instead of taking part in oil exploitation, he turned to refining. Through cooperation with technicians, Rockefeller can steadily extract combustible kerosene from oil. At this time, Vanderbilt found the young man and got the order for transporting kerosene. Finally, with the help of Vanderbilt's railway network all over the country, Standard Oil Company's kerosene entered every household in the United States. Vanderbilt's competitors are also eyeing this cake and grabbing orders through price wars, and Carnegie is an important participant in this plan.
Because of the sharp drop in profits from vicious competition, the railway companies began to unite to attack Rockefeller, but Rockefeller did not compromise. He thought of transporting oil by pipeline instead of railway, which directly told Carnegie that the railway company went bankrupt, and his owner and boss also collapsed and died soon. At this time, Carnegie's plan to build infrastructure by replacing iron was gradually accepted after being questioned.
Without the railway order, Carnegie's steel plant seemed unsustainable, but the clever Carnegie soon found his own steel use-building. With the completion of the first building based on steel structure, steel was quickly used as the frame material of new buildings in the United States, and the status of steel tycoon was established.
J·P· Morgan is a capitalist born with a golden key, but his ambition is unparalleled in the world. He is full of curiosity and hope for new things. After seeing that Edison invented the light bulb that could replace kerosene lamps, he quickly invested in this clever inventor and built a DC power generation network that could light up the whole city of new york. However, Edison's conceit made him ignore a young man's new invention, that is Tesla, which finally ended Edison's dream of electricity.
Tesla invented alternating current technology, but it was not optimistic for Edison. Tesla had to resign and find another investor. After alternating current was proved to be suitable for long-distance transmission because of its high voltage characteristics, Tesla completely defeated the Edison consortium invested by J·P· Morgan in the commercial scheme.
JPMorgan Chase will prove its strength in its own way.