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Franklin D. Roosevelt called on J.P. Morgan to save the nation from economic collapse in 1907.

Select one:
A. True
B. False

Sagot :

GinnyAnsweridn

Final answer:

J.P. Morgan, not Franklin D. Roosevelt, helped save the nation from economic collapse in 1907.


Explanation:

False

J.P. Morgan played a crucial role in saving the nation from economic collapse in 1907, not Franklin D. Roosevelt. During the Panic of 1907, J.P. Morgan acted as a lender of last resort, lending money to banks on the brink of failure, thus restoring confidence in the financial system which eventually led to the emergence of the Federal Reserve system.


Learn more about Panic of 1907 here:

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