<P> The panic might have deepened if not for the intervention of financier J.P. Morgan , who pledged large sums of his own money , and convinced other New York bankers to do the same , to shore up the banking system . This highlighted the impotence of the nation 's Independent Treasury system , which managed the nation 's money supply , yet was unable to inject liquidity back into the market . By November , the financial contagion had largely ended , only to be replaced by a further crisis . This was due to the heavy borrowing of a large brokerage firm that used the stock of Tennessee Coal , Iron and Railroad Company ( TC&I ) as collateral . Collapse of TC&I 's stock price was averted by an emergency takeover by Morgan 's U.S. Steel Corporation -- a move approved by anti-monopolist president Theodore Roosevelt . The following year , Senator Nelson W. Aldrich , father - in - law of John D. Rockefeller , Jr. , established and chaired a commission to investigate the crisis and propose future solutions , leading to the creation of the Federal Reserve System . </P>
<P> The panic might have deepened if not for the intervention of financier J.P. Morgan , who pledged large sums of his own money , and convinced other New York bankers to do the same , to shore up the banking system . This highlighted the impotence of the nation 's Independent Treasury system , which managed the nation 's money supply , yet was unable to inject liquidity back into the market . By November , the financial contagion had largely ended , only to be replaced by a further crisis . This was due to the heavy borrowing of a large brokerage firm that used the stock of Tennessee Coal , Iron and Railroad Company ( TC&I ) as collateral . Collapse of TC&I 's stock price was averted by an emergency takeover by Morgan 's U.S. Steel Corporation -- a move approved by anti-monopolist president Theodore Roosevelt . The following year , Senator Nelson W. Aldrich , father - in - law of John D. Rockefeller , Jr. , established and chaired a commission to investigate the crisis and propose future solutions , leading to the creation of the Federal Reserve System . </P>
​ the individual credited with ending the panic of 1907 in the united states was
​ the individual credited with ending the panic of 1907 in the united states was
J.P. Morgan
J.P. Morgan