4.8 • 1.5K Ratings
🗓️ 15 June 2023
⏱️ 38 minutes
🧾️ Download transcript
JP Morgan comes to the aid of the country for a second time during the infamous Panic of 1893.
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0:00.0 | Hey prime members, you can listen to business movers add free on Amazon music. Download the app today. |
0:23.2 | It's the morning of May 5th, 1893, outside a rope factory in New Jersey. |
0:29.2 | A middle-aged man joins a stream of his fellow workers as they head through the factory gates. |
0:34.1 | The man are rope makers for the national cordage company, one of the biggest corporations in the United States. |
0:40.1 | But as they reach the entrance to the factory, the workers stop. The door is locked. |
0:45.2 | The men look at each other with puzzled faces. One or two joke that they must have been given an extra day off. |
0:51.0 | But the middle-aged man doesn't think it's a laughing matter. |
0:54.1 | His supervisor won't hesitate to find him if he clocks in late, even if the delay isn't his fault. |
1:00.1 | So he pushes through the crowd to the front and hammers on the door. |
1:03.9 | Oh come on, we're going to be late, open up! |
1:06.5 | There's a moment of silence and then a cheer ripples through the crowd as the door swings open. |
1:11.9 | A pale-faced factory manager emerges from the gloom. |
1:15.2 | The rope maker steps forward, but the manager stops him. |
1:18.4 | Nope, nope, not today. |
1:20.1 | Sir, are we not allowed in? I'll be fine if I'm late. |
1:22.9 | You're not going to be fine, but you're not coming in either. |
1:26.0 | The manager then shouts so all the men can hear. |
1:28.8 | Look, no one's coming in. The factory's closed. |
1:31.9 | Well, sir, what's going on? |
1:33.4 | We're one of their biggest factories. They can't shut us down. |
1:36.2 | It's not just this factory. It's the entire company. |
1:39.1 | National cordage and bankrupt. We're all out of a job. |
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