Final answer:
J.P. Morgan was a leading financier in the late 19th and early 20th century. He learned important financial and business principles from his father, who was also a prominent banker.
Step-by-step explanation:
J.P. Morgan was a leading financier in the late 19th and early 20th century. He helped finance the consolidation of industry and played a key role in the creation of companies like General Electric and US Steel. His father, Junius Spencer Morgan, was also a prominent banker and played a significant role in the development of industrial capitalism.From his father, J.P. Morgan learned important financial and business principles. He learned the value of investing in promising companies and the importance of controlling companies through seats on their boards. He also learned the significance of stability in the financial system and the role of private banks in restoring confidence during times of crisis, as seen in the Bankers' Panic of 1907.