Final answer:
The U.S. government sought help from J.P. Morgan & Co because the firm was instrumental in restoring financial stability during the 1907 Bankers' Panic and played a significant role in financing and managing loans to Allied countries during World War I, elevating the U.S. into a position of global economic importance.
Step-by-step explanation:
The U.S. government looked towards J.P. Morgan & Co for help due to the pivotal role the firm played in the financial stability and economic growth of the nation. In the throes of the 1907 financial crisis, known as the "Bankers' Panic," J.P. Morgan personally intervened by lending money to banks on the brink of collapse, which restored investor confidence. Furthermore, during World War I, American bankers like J.P. Morgan Jr. began making substantial loans to Britain and France, with Morgan bank being appointed as the sole purchasing agent for these countries in the U.S. This led to Morgan and his consortium of over 2,000 banks managing loans that exceeded $500 million, making the U.S. an influential economic force and shifting its position from a debtor to a potential global creditor.