Which financier organized the private rescue that helped end the Panic of 1907?

J. P. Morgan organized the private rescue that helped end the Panic of 1907.

The crisis began after a failed attempt to corner United Copper Company shares triggered runs on trust companies in New York. The Knickerbocker Trust Company collapsed on October 22, 1907, intensifying public fear and withdrawals.

Morgan gathered bankers, examined threatened institutions, and committed funds to support solvent companies. He also helped arrange financing for the New York City government when the city struggled to borrow. His library became a temporary command center for negotiations during the emergency.

The panic exposed the United States’ lack of a central bank able to provide emergency liquidity. Congress later created the National Monetary Commission, and its work helped lead to the Federal Reserve System in 1913. Morgan did not single-handedly solve every part of the crisis, but his coordinated intervention is the best-known private response to it.