CREATED ON 17th October 2018
COMPLETED ON 19th October 2018
Expert hired: Landzoid

what you believe the profits from the Treasury bailout could have been used to finance.

The United States Treasury was facing collapse as European banks exchanged U.S. paper money for gold during the Panic of 1893. John P. Morgan, a New York investment banker, came up with a plan to use an old Civil War statute that allowed Morgan and the various Rothchilds banks in Europe to sell 3.5 million ounces of gold directly to the U.S. Treasury in exchange for a 30-year bond issue. At that time the various Rothschild banks in Europe held the largest private fortune in the world. On February 20, 1895, President Cleveland agreed to Morgan’s plan. The government would buy the gold coin from Morgan’s investment group at $17.80 per ounce, in exchange for $62.3 million worth of 30 year bonds paying 4%. Under the terms of the deal, Morgan and Rothschild purchased the bonds at $104.50. The bonds could be resold immediately. Morgan sold the bonds between $112.25 to $120.00 earning a profit of between $6 and $7 million. So strong was the demand for the bonds that they sold out in 22 minutes. What portion of the profit went to the Rothschilds is not known. The price of gold at that time was around $18.60 per ounce. The Treasury enjoyed an immediate $3 million dollar profit by buying the gold at the discounted price offered by Morgan. Research what the Rothschilds were involved with internationally at that time. Write an essay about what you believe the profits from the Treasury bailout could have been used to finance.
This project has already been completed on Studybay
On Studybay you can order your academic assignment from one of our 45000 project experts. Hire your expert directly, without overpaying for agencies and affiliates!
Check the price for your project

See other similar orders

Studybay assignment progress timeline

Studybay is a freelance platform where you can order a what you believe the profits from the Treasury bailout could have been used to finance. paper, written from scratch by professors and tutors.
17 October 2018
User created a project for History
17 October 2018
18 experts responded
17 October 2018
User contacted expert Landzoid
17 October 2018
User hired expert Landzoid who offered a price of $30 for the project and has experience doing similar projects
19 October 2018
The expert completed the project what you believe the profits from the Treasury bailout could have been used to finance. for 2 days, meeting the deadline
19 October 2018
User accepted the project right away and completed the payment
19 October 2018
User left a positive review

Other projects in this subject area

Random blog posts

Book report – middle school series essay
? Rafe Khatchadorian offers enough problems around his family life, without throwing his initial year of middle university into the mixture. Luckily, he's got a terrific plan for the best year ever before, if only they can pull it off. Together with his best friend Leonardo the Quiet awarding him points, Rafe tries to break every rule in his school's Code of Conduct.Having gum in the lecture scores him 5, 500 points, working through the hallways, another 15, 000 items and yanking the fire security alarm, 50, 000 points! However, not everyone believes that Rafe's game is advisable, especially the instructors, parents and other students on the school, and so he'll need to decide if successful is all that will matter, or in the event that he's finally ready to face the rules, bullies, and facts he's been avoiding. http://www. jamespatterson. com/books_middleSchool. php#. UWY9FFdstN4 Middle Institution the Most..