2007-06-15 08:16:23 · 6 answers · asked by helloagain1968 2 in Arts & Humanities ➔ History
I think you're probably referring to J. P. Morgan.
In 1893 there was a serious decline in the economy of the U. S., which caused a lot of people to convert their gold-backed dollars into gold. This "run" on the gold supply seriously depleted the government's gold reserves.
Things got so bad by 1895 that the president at the time, Grover Cleveland, allowed Morgan to create a business syndicate that would supply the government with gold. This enabled the government to issue bonds, resulting in a Treasury surplus.
This is the only instance that I know of in American history where a private citizen basically bailed out the U. S. government.
2007-06-15 08:44:49 · answer #1 · answered by Jeffrey S 4 · 1⤊ 0⤋
At the end of the Revolution a gentleman named Morris was made the Treasurer, and he loaned and got loans for the government to continue, when it had run out of funds and the Continental currancy was only good for bum fodder (toliet paper).
2007-06-15 09:29:00 · answer #2 · answered by glenn 6 · 0⤊ 0⤋
Uncle Sam
2007-06-15 08:24:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
By flag I mean THE FLAG
of the United States of America, Old Glory.
To hear that someone like Joe is excited to hear a young person.
**Miles Romanus X Legio...Caesaris Legio...dixit
2007-06-15 08:21:39 · answer #4 · answered by Anonymous · 0⤊ 1⤋
It was JP Morgan. We was a banker. RHis company now is called Chase.
2007-06-15 08:29:31 · answer #5 · answered by scaponig 3 · 0⤊ 0⤋
ONe of the 4400!
2007-06-15 08:20:06 · answer #6 · answered by Anonymous · 1⤊ 0⤋