The Rothschilds: the Financial Rulers of Nations
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THE OLD HOUSE IX FRANKFORT. THE ROTHSCHILDS: THE FINANCIAL RULERS OF NATIONS BY JOHN REEVES CHICAGO : A. C. McCLUEG & CO. 1887 All Eights Beserved. PREFACE. the following pages prove fortunate enough to be favourably received by the public, they will owe it entirely to their subject-matter. To this, and not to vigour of language or lucidity of style, must be attributed whatever interest they may possess. The Author makes no pretensions to the character of a practised writer and feels that the subject is worthy of a more able and experienced hand ; he therefore ventures to solicit the indul- gence he so sorely needs for his literary short- comings, of which no one can feel more conscious than himself. On the other hand, he boldly and frankly claims for his work the merit of perfect and in the impartial truthfulness ; and, words of Mon- taigne, he conscientiously asserts, with perhaps jus- " tifiable pride : C'est icy un livre de bonne foy, lecteur." CONTENTS. CHAPTER I. PAGE 1. The value of a name The phenomenal success of the Rothschilds and their poor beginnings Their reputation for unstinted benevolence Persecutions to which the Jews have been subjected The hatred of them still rampant in some countries The spirit of intolerance dying out in England What the world owes the Jews Universal pre-eminence accorded to the works of their great lawyers and prophets Spinoza Large number of Jews distinguished as musicians and composers, and likewise as dramatic and operatic artists Eminence of the Jews as mathematicians and astronomers The Jews in commerce and finance The Jews as lawyers and as politicians Charges brought against the Jews Misleading " impressions regarding them Mayer Amschel Rothschild, the " honest Jew Unimpeachable lives and characters of the Rothschilds and other prominent Jewish families The secret of Jewish success Sir Thomas Gresham Queen Elizabeth Jewish pride of race. CHAPTER II. PAGE 21. Mayer Amschel Rothschild The city of Frank- fort The Judengasse Condition of the Jews in Frankfort viii CONTENTS. CHAPTER II. continued. during the early part of the Middle Ages First massacre of the Jews in 1241 Galling restrictions imposed on them burnt down in 1711 rebuilt and widened in The Judengasse ; 1717 The House of the Red Shield Amschel Moses Bauer Birth of Mayer Amschel Rothschild in 1743 He is at first intended for a rabbi Abandons his theological studies and enters the sen-ice of a banking firm in Hanover Returns to Frankfort, where he settles permanently Marries Gudula " Schnappe Is known as the honest Jew" Is appointed Court Banker to the Landgrave of Hesse The Landgrave's whole fortune entrusted to his keeping Fanciful stories connected with this circumstance the true account Amschel ; Mayer Rothschild conveys specie to the Duke of Wellington in Spain His death in 1812 Heine's reminiscence of Gudula Rothschild. CHAPTER III. PAGE 56. Respect entertained by the Jews for their parents Mayer Amschel's five sons The success achieved the founder of the firm to what due Archives by ; greatly of the Rothschild family a sealed book to the public at large First period in the history of the firm Mayer Amschel and the Danish Government His philanthropy and bene- volence Second period in the history of the firm Branch firms established Nathan Mayer acknowledged as the business head of the family The business in Government Funds Stock Exchange speculations Amount of the loans negotiated by the Rothschilds, between 1815 and 1830, for England, Russia, Austria, France, and Prussia Principal loans issued by the Rothschilds Honours and decorations showered on the latter Third period in the history of the firm A heavy blow dealt to the great banking-houses CONTENTS. ix CHAPTER III. continued. New path struck out by the Rothschilds Effect of political events on the fortunes of the Rothschilds American War of Independence The first French Revolution Rise and fall of Napoleon The French July Revolution Immense landed estates possessed by the Rothschilds Sugar manufactories How the Rothschilds accumulated their wealth The two " causes specified by the Chevalier von Gentz The one power in Europe." CHAPTER IV. PAGE 103. Anselin Mayer von Rothschild Historical sketch of Frankfort Character of Anselm Mayer Account of him by a friend His humour and shrewdness Neat compliment paid by him to Thorwaldsen Anselin Mayer at Ems His great charity His love of art and flowers Im- mense amount of business transacted by him Loans under- taken by him His supremacy on the Frankfort Exchange His two nephews, Baron William and Baron Carl von Roth- schild, succeed him in the management of the Frankfort firm. CHAPTER V. PAGE 133. The London firm established by Nathan Mayer Rothschild Great Britain at the beginning of the present century Its political condition Power of the landed aristocracy Mr. C. P. Villiers and the Corn Laws Land held in England on conditions differing from those en which it is held abroad Evils resulting from the National Debt Devices employed by the earlier English sovereigns to raise money Plans adopted for this purpose by Richard L, Henry III., Edward I., Edward III., Henry VII., Henry VIIL, Charles I., Charles II., and James II. respectively William III. and Louis XIV. Principal objection to the financial innova- x CONTENTS. CH VPTKR V. continued. tion introduced by William III. Various expedients adopted] by him to obtain supplies State of society and of finance at this period Affairs under Queen Anne Growing influence of wealth Marlborough Infamous tone of parliamentary morality The great Hebrew capitalist and speculator,. Medina The Bank of England Improvement of the national finances under William Pitt, in 1782 The suspen- sion of cash payments Disastrous consequences of it What first impelled Xathan Mayer Rothschild to visit England His great talent for speculation He speedily becomes the loading man on the Stock Exchange Maintains a staff of agents and couriers to insure early intelligence of important events Organizes a pigeon-post Xews of Napoleon's return from Elba Xathan Mayer Rothschild sets out for Belgium, and is present at the Battle of Waterloo Immediately after the action he hurries from the field, rides to Brussels, and tln-.ice proceeds to Ostend His difficulty in procuring the means of crossing over to England He reaches Dover Without stopping to rest, he posts up to London His in appearance, seemingly broken health and spirits, on the Stock Exchange next day, gives rise to the most gloomy apprehensions, which he might allay but does not The Funds fall rapidly, but, when the truth is at last known, they go up again with a bound, and Xathan Mayer Rothschild pockets nearly a million sterling He marries in 1806 He may be considered the first to introduce foreign loans into England Principal loans issued by him He purchases the Almaden quicksilver mines in Spain The Bank of England no match for him in finesse He is, however, sometimes out- witted His adventure with the stockbroker Lucas His meanness towards the persons in his employ His tactics on the Stock Exchange His two maxims His disregard of the CONTENTS. xi CHAPTER V. continued. courtesies and amenities of civilized life Description of him by an anonymous writer Nathan Mayer and the German Prince Life of anxiety His two mysterious visitors and the ledger Nathan Mayer and Spohr Nathan Mayer's death at Frankfort His funeral. CHAPTER VI. PAGE 204. Baron Lionel de Rothschild Succeeds Nathan Mayer in the management of the London firm His great financial talent his His in connection ; prudence activity with foreign loans Awkward predicament His political career His deep interest in the welfare of his co-religionists Efforts for the removal of Jewish disabilities Sir David Salomons Baron Lionel elected one of the members for the City of London Lord John Russell's Bill It is carried in the House of Commons but rejected by the Peers Baron Lionel resigns his seat and is re-elected Sir David Salomons returned as a member for Greenwich Further progress and conclusion of the struggle Baron Lionel a great sufferer from rheumatic gout His irritable temper His broad His wife her death of his eldest charity ; Marriage of his her death daughter Marriage youngest daughter ; His London mansion His delight in pictures and flowers His humour His xmexpected death His two brothers Character of Baron Mayer Sir Lionel succeeded in the London firm by his three sons, Nathaniel, Leopold, and Alfred Their respective characters and pursuits Sir Na- thaniel raised to the Peerage Conduct of the firm towards Egypt Scene in St Swithin's Lane Probable future of the firm. CHAPTER VII. PAGE 252. Baron Carl von Rothschild The Naples firm xii CONTENTS. CHAPTER VII. continued. Change in the political circumstances of Italy Social con- dition of that country Finances of the Papal States Inde- scribable peculation and fraud French system of taxation introduced Expenditure of the Duchy of Parma Expendi- ture of the Grand Duchy of Tuscany and the Duchy of Lucca Expenditure of Sardinia Pecuniary difficulties of the kingdom of the Two Sicilies A Bankers' Syndicate formed in Paris to oppose the Rothschilds The result Death of Baron Carl von Rothschild He is succeeded by his son, Baron Adolf von Rothschild, who, however, soon retires from the management of the firm. CHAPTER VIII. PAGE 272. Baron Salomon von Rothschild The Vienna firm Part played by the Jews in Austria Their pecuniary assistance eagerly sought They are subjected to a poll-tax, compelled to wear a distinguishing badge, and obliged to