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T h e R o t h s c h i l d s a n d t h e E a r l i e s t R a i l w a y s
105
a s a t o y , b u t i t w i l l n e v e r c a r r y a p a s s e n g e r o r a p a r c e l
. "
2 8
E v e n t h e f a m o u s F r e n c h p h y s i c i s t a n d a s t r o n o m e r , D o m -
i n i c F r a n c i s A r a g o , i n a d d r e s s i n g t h e C h a m b e r , d e c l a r e d ,
a s h a d p r e v i o u s l y b e e n s t a t e d i n A u s t r i a , t h a t t r a v e l e r s
i n p a s s i n g t h r o u g h a t u n n e l a . f e w y a r d s l o n g w o u l d b e
s u f f o c a t e d
.
T h e " t o y " w a s , h o w e v e r , s a n c t i o n e d , a n d t h e P a r i s -
S a i n t - G e r m a i n r a i l w a y w a s o p e n e d o n A u g u s t
2 6 , 18 37 .
I t s s u c c e s s s o o n p r o v e d w h a t a g o o d i d e a i t w a s , a n d t h e
C h a m b e r s , w h i c h h a d i n 18 35
r e j e c t e d a s c h e m e f o r b u i l d -
i n g a r a i l w a y b y t h e s t a t e , w e r e m a d e t o l o o k f o o l i s h .
T h u s i n P a r i s , t o o , t h e R o t h s c h i l d s w e r e t a k i n g t h e l e a d
i n r a i l w a y c o n s t r u c t i o n . I n t h e c a s e o f t h e s e c o n d p a s s e n -
g e r r a i l w a y , h o w e v e r , t h e y d i d n o t h a v e t h i n g s a l l t h e i r
o w n w a y
. T h e r a i l w a y i n q u e s t i o n w a s t h a t b e t w e e n P a r i s
a n d V e r s a i l l e s , a n d t h e i d e a o f t h i s r a i l w a y o c c u r r e d
s i m u l t a n e o u s l y b o t h t o R o t h s c h i l d a n d t o F o u l d
. S m i l e
P e r e i r e , w h o w a s i n R o t h s c h i l d ' s s e r v i c e , b u i l t t h e r a i l -
w a y o n t h e r i g h t b a n k o f t h e S e i n e , t h e f a m o u s
R i v e
D r o i t e , t h e c o n c e s s i o n f o r w h i c h w a s g r a n t e d i n 18 36 ,
w h i l e i t w a s c o m p l e t e d i n 18 39 ;
F o u l d f i n a n c e d t h e r a i l -
w a y o n t h e l e f t b a n k o f t h e S e i n e . T h e t w o r a i l w a y c o m -
p a n i e s b e c a m e b i t t e r r i v a l s , a n d t h e r i v a l r y e x t e n d e d t o
o t h e r f i e l d s i n w h i c h t h e r e s p e c t i v e f i n a n c i a l p o w e r s w e r e
e n g a g e d .
F i n a l l y J a m e s R o t h s c h i l d s u c c e e d e d i n o b t a i n i n g t h e
c o n c e s s i o n f o r c o n s t r u c t i n g a n d d e v e l o p i n g a n o r t h e r n
r a i l w a y i n F r a n c e , a n d t h i s g i g a n t i c u n d e r t a k i n g m a d e
v e r y h e a v y c l a i m s o n t h e f i n a n c i a l r e s o u r c e s o f t h e R o t h s -
c h i l d s i n t h e f o r t i e s
. O n J u l y 2 1, 18 4 5, t h e o p e n i n g o f
t h e F r e n c h N o r t h e r n R a i l w a y b e c a m e p o s s i b l e .
I n t h e m i d d l e t h i r t i e s N a t h a n w a s k e e n l y e n g a g e d i n
r a i l w a y c o n s t r u c t i o n i n B e l g i u m
. T h a t f a r - s e e i n g m o n -
a r c h , L e o p o l d o f B e l g i u m , h a d t a k e n a k e e n i n t e r e s t i n
r a i l w a y s c h e m e s e v e r s i n c e h e h a d a c c e d e d
t o t h e t h r o n e .
I n c o l l a b o r a t i o n w i t h G e o r g e S t e p h e n s o n , h e h a d p l a n n e d
o u t a r a i l w a y s y s t e m r a d i a t i n g f r o m B r u s s e l s
; a n d t h e
i o 6

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
B e l g i a n C h a m b e r s , s h o w i n g m u c h g r e a t e r w i s d o m t h a n
t h e F r e n c h , p a s s e d t h e s c h e m e a s e a r l y a s
18 34 . I n t h i s
c a s e t h e u n d e r t a k i n g , w h i c h a t i t s v e r y c o m m e n c e m e n t
r e q u i r e d i 5o , 00o , 00o
f r a n c s c a p i t a l , w a s c a r r i e d o u t b y
t h e s t a t e . A l a r g e p r o p o r t i o n o f t h i s m o n e y w a s r a i s e d ,
t h r o u g h t h e R o t h s c h i l d s , i n 18 36 , 18 37, a n d
i 8 4 0,
w i t h
t h e r e s u l t t h a t t h e s m a l l s t a t e o f B e l g i u m s e c u r e d a l e a d
i n r a i l w a y c o n s t r u c t i o n , a s i s e v e n n o w e v i d e n c e d b y t h e
f a c t t h a t , i n p r o p o r t i o n t o h e r a r e a , B e l g i u m h a s a c o n -
s i d e r a b l y g r e a t e r r a i l w a y m i l e a g e t h a n o t h e r s t a t e s
.
T h e s e f i r s t r a i l w a y u n d e r t a k i n g s o f t h e R o t h s c h i l d s
w e r e s u c c e e d e d i n t h e y e a r s t h a t f o l l o w e d b y o t h e r s w h i c h
i t w o u l d t a k e t o o l o n g t o e n u m e r a t e . W e s h a l l s e e h o w ,
l a t e r , t h e y r e t r i e v e d t h e o p p o r t u n i t y t h e y h a d m i s s e d o f
g e t t i n g t h e S o u t h e r n R a i l w a y o f A u s t r i a i n t o t h e i r h a n d s
.
A s i s p r o v e d b y t h e i r a t t i t u d e t o t h e f i r s t r a i l w a y s i n
E n g l a n d , i t w a s n o t p r o p h e t i c f o r e s i g h t o r a l o v e o f p r o g -
r e s s t h a t l e d t h e R o t h s c h i l d s t o e m b a r k u p o n t h e f i r s t
r a i l w a y v e n t u r e s o n t h e C o n t i n e n t
; t h e p r e l i m i n a r y s u c -
c e s s t h a t h a d b e e n a c h i e v e d i n E n g l a n d h a d p r o v e d t h a t
s u b s t a n t i a l p r o f i t s m i g h t r e a s o n a b l y b e r e a l i z e d e l s e -
w h e r e . Y e t , a l t h o u g h t h e R o t h s c h i l d s w e r e g u i d e d i n t h i s
i n s t a n c e , a s a l w a y s , b y b u s i n e s s c o n s i d e r a t i o n s , t h e y w e r e
i n d i s p u t a b l y t h e p i o n e e r s o n t h e C o n t i n e n t o f o n e o f t h e
m o s t d a r i n g a n d r e v o l u t i o n a r y d i s c o v e r i e s o f t h e h u m a n
s p i r i t , w h i c h h a s c o n t r i b u t e d m o r e , p e r h a p s , t h a n a n y
o t h e r t o t h e c u l t u r a l p r o g r e s s o f o u r t i m e s , a n d h a s p l a y e d
t h e m o s t i m p o r t a n t p a r t i n p r o m o t i n g u n d e r s t a n d i n g b e -
t w e e n t h e p e o p l e s .
C H A P T E R I V
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
T
H E R o t h s c h i l d w e a l t h h a d b e e n p r e s e r v e d i n t a c t
t h r o u g h o u t t h e d i s t u r b a n c e s o f t h e J u l y r e v o l u t i o n .
I n d e e d t h e c r e d i t o f t h e f i r m w a s m o r e f i r m l y e s t a b l i s h e d
t h a n e v e r , a n d i t w a s s e e k i n g i n v e s t m e n t f o r t h e e n o r m o u s
c a p i t a l s u m s i t h a d a c c u m u l a t e d . W h i l e h i s b r o t h e r s i n
F r a n c e a n d A u s t r i a w e r e e n g a g e d i n b i g r a i l w a y s c h e m e s ,
N a t h a n w a s l o o k i n g o u t f o r f u r t h e r e x t e n s i v e l o a n o p e r a -
t i o n s t h a t w o u l d b e i n h a r m o n y w i t h t h e m a i n l i n e s o f
B r i t i s h p o l i c y . P r o m i n e n t a m o n g t h e s t a t e s t h a t n e e d e d
f i n a n c i a l a s s i s t a n c e w a s S p a i n , w h i c h w a s a t t h i s t i m e
i n v o l v e d i n m o s t d i f f i c u l t p o l i t i c a l c o m p l i c a t i o n s .
S i n c e t h e y e a r 18 2 3, w h e n a B o u r b o n a n d r e a c t i o n a r y
F r a n c e h a d i n t e r v e n e d i n S p a i n i n o r d e r t o r e e s t a b l i s h
t h e a b s o l u t e r u l e o f K i n g F e r d i n a n d V I I , w h o h a d b e e n
o v e r w h e l m e d b y r e v o l u t i o n , c o n d i t i o n s i n t h e t w o c o u n -
t r i e s h a d c o m p l e t e l y c h a n g e d . W h e n , a f t e r t h e J u l y r e v o -
l u t i o n , C h a r l e s X w a s e x i l e d , a n d t h e c o n s t i t u t i o n a l K i n g
L o u i s P h i l i p p e w a s p l a c e d u p o n t h e t h r o n e o f F r a n c e ,
F e r d i n a n d V I I f o u n d h i m s e l f d e p r i v e d o f F r e n c h s u p -
p o r t . A f u r t h e r d i f f i c u l t y w a s t h e d i s p u t e t h a t d e v e l o p e d
i n t h e r o y a l f a m i l y a t t h e b e g i n n i n g o f t h e t h i r t i e s , a b o u t
t h e s u c c e s s i o n .
K i n g F e r d i n a n d V I I h a d n o c h i l d r e n b y h i s f i r s t t h r e e
w i v e s ; h i s f o u r t h w i f e , M a r i e C h r i s t i n e , t h e b e a u t i f u l
N e a p o l i t a n , p r e s e n t e d h i m w i t h t w o d a u g h t e r s . I n S p a i n ,
h o w e v e r , s u c c e s s i o n w a s r e c o g n i z e d o n l y t h r o u g h t h e
m a l e l i n e , s o t h a t D o n C a r l o s , a n a b s o l u t i s t , w i t h v i e w s
a s c o n s e r v a t i v e a s t h o s e o f M e t t e r n i c h , w a s t h e h e i r
a p p a r e n t .
107
108

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
T h e q u e e n p e r s u a d e d h e r h u s b a n d t o p r o m u l g a t e a
P r a g m a t i c S a n c t i o n d e c l a r i n g w o m e n , a n d c o n s e q u e n t l y
t h e i r d a u g h t e r s , e n t i t l e d t o s u c c e e d . D o n C a r l o s , h o w e v e r ,
d i d n o t r e c o g n i z e t h i s m e a s u r e a s v a l i d , t h u s s t a r t i n g t h e
l o n g d i s p u t e a b o u t t h e s u c c e s s i o n
. A s D o n C a r l o s , t h e
P r e t e n d e r , w a s a d e c l a r e d a d h e r e n t o f t h e o l d r e g i m e , t h e
y o u n g q u e e n p r o c e e d e d t o l o o k t o t h e l i b e r a l p a r t y f o r
s u p p o r t o n t h e d e a t h o f h e r h u s b a n d i n S e p t e m b e r ,
1 8 33 .
T h e w h o l e o f E u r o p e t o o k s i d e s i n t h e d i s p u t e .
I n a c c o r d a n c e w i t h t h e i r g e n e r a l p o l i c y t h e m o r e l i b -
e r a l w e s t e r n P o w e r s a l i g n e d t h e m s e l v e s o n t h e s i d e o f t h e
q u e e n , w h o s e a d h e r e n t s c a m e t o b e c a l l e d C h r i s t i n o s .
T h e y s h o w e d c o n s i d e r a b l e r e s e r v e , h o w e v e r , a n d l i t t l e
i n c l i n a t i o n t o i n t e r v e n e d i r e c t l y . T h e a b s o l u t i s t e a s t e r n
P o w e r s , a n d e s p e c i a l l y A u s t r i a u n d e r M e t t e r n i c h , t o o k
t h e s i d e o f D o n C a r l o s . A t t h e b e g i n n i n g o f t h e y e a r
18 35 t h i n g s d i d n o t l o o k t o o w e l l f o r Q u e e n C h r i s t i n e .
T h e C a r l i s t s h a d m a d e p r o g r e s s , a n d i n J a n u a r y t h e r e
h a d a c t u a l l y b e e n a r e v o l u t i o n . S o g r e a t w a s t h e i n d i g -
n a t i o n i n t h e c a p i t a l a t A u s t r i a ' s a t t i t u d e t h a t t h e c o u r t
d i d n o t e v e n g o i n t o m o u r n i n g w h e n t h e E m p e r o r F r a n -
c i s d i e d o n A p r i l 11 . M i n i s t r i e s c o n s t a n t l y c h a n g e d a n d
t h e s t r u g g l e c o n t i n u e d .
B o t h s i d e s e n g a g e d i n t h i s i n t e r n e c i n e s t r u g g l e n e e d e d
t r o o p s a n d m o n e y . T h e l a t t e r w a s g e n e r o u s l y f o r t h c o m i n g
f r o m v a r i o u s P o w e r s , b u t i t w a s a l s o w a s t e d i n a m o s t
l a v i s h m a n n e r . S i n c e 18 2 3 l o a n s t o t h e e x t e n t o f n e a r l y
t h r e e b i l l i o n r e a l s h a d b e e n i s s u e d . S o o n o f f i c i a l s o u r c e s
n o l o n g e r s u f f i c e d a n d p r i v a t e b a n k s h a d t o i n t e r v e n e
.
T h e y e n d e a v o r e d , h o w e v e r , t o h i n d e r t h e g r a n t i n g o f
c r e d i t s , a c c o r d i n g t o t h e p o l i t i c a l t e n d e n c i e s o f t h e i r v a r i -
o u s g o v e r n m e n t s , t o t h e p a r t y w h o s e c a u s e t h e y d i d n o t
f a v o r .
B o t h s i d e s a p p r o a c h e d t h e H o u s e o f R o t h s c h i l d f o r
m o n e y , a n d i t w a s p a r t i c u l a r l y d i f f i c u l t f o r t h e R o t h s -
c h i l d s t o c o m e t o a d e c i s i o n , s i n c e t h e i r a c t i v i t i e s r a n g e d
o v e r b o t h t h e w e s t e r n a n d e a s t e r n P o w e r s , a n d t h e c o u n -
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
l o g
t r i e s w h e r e t h e i r b a n k s o p e r a t e d w e r e i n b o t h p o l i t i c a l
c a m p s
. I t i s t r u e t h a t t h e f a c t t h a t t h e b r o t h e r s w e r e s i m u l -
t a n e o u s l y s e t t l e d i n t h e p r i n c i p a l c a p i t a l s o f E u r o p e , a n d
w e r e a b l e t o t a k e c o n c e r t e d a c t i o n o n a n y m a t t e r , w a s ,
a s w e h a v e s e e n , o n e o f t h e p r i n c i p a l r e a s o n s f o r t h e r i s e
o f t h e H o u s e , a s o n e b r o t h e r a l w a y s k e p t t h e o t h e r s i n -
f o r m e d o f w h a t w a s h a p p e n i n g
. T h e y w e r e a l l i n a s t r o n g
p o s i t i o n t o o b t a i n r e l i a b l e i n f o r m a t i o n , a s t h e y w e r e a b l e
i n t h e c o u r s e o f a d m i n i s t e r i n g t h e p r o p e r t y o f i n f l u e n t i a l
p e r s o n s i n t h e v a r i o u s c o u n t r i e s t o e s t a b l i s h c o n n e c t i o n s
w h e r e b y t h e y a l w a y s c o u l d o b t a i n t h e m o s t r e c e n t a n d
a u t h e n t i c n e w s w i t h o u t a n y s u s p i c i o n o f b r i b e r y
.
S o m e t i m e s , h o w e v e r , t h i s c o s m o p o l i t a n i s m a l s o i n -
v o l v e d t h e m i n d i f f i c u l t i e s
; a n d i n t h i s p a r t i c u l a r c a s e
t h e r e w a s a n a t u r a l d i f f e r e n c e o f o p i n i o n b e t w e e n t h e f i v e
b r o t h e r s
. N a t h a n w a s i n a p a r t i c u l a r l y a w k w a r d p o s i t i o n
s i n c e E n g l a n d w a s m o s t i n c l i n e d t o i n t e r v e n e a c t i v e l y
.
A l t h o u g h F r a n c e h a d j o i n e d t h e s o - c a l l e d T r i p l e A l l i -
a n c e , c o n c l u d e d o n A p r i l 2 2 ,
1
8 34 , b e t w e e n E n g l a n d ,
F r a n c e , S p a i n , a n d P o r t u g a l - t h e A u s t r i a n a m b a s s a d o r
i n P a r i s h a d r e c e i v e d t h e f i r s t n e w s o f i t s c o n c l u s i o n f r o m
J a m e s R o t h s c h i l d , t o w h o m N a t h a n h a d s e n t a c o u r i e r ' -
L o u i s P h i l i p p e h a d n o d e s i r e t o p u l l t h e c h e s t n u t s o u t o f
t h e f i r e a n d t o i n t e r v e n e a c t i v e l y i n S p a i n o n b e h a l f o f
t h e l i b e r a l Q u e e n C h r i s t i n e , a s L o u i s X V I I I h a d d o n e
o n b e h a l f o f t h e a b s o l u t i s t K i n g F e r d i n a n d V I I .
T h e l i b e r a l p o l i c y f o r c e d u p o n L o u i s P h i l i p p e t h r o u g h
t h e m a n n e r i n w h i c h h e h a d a t t a i n e d p o w e r w a s r e a l l y
m o s t d i s t a s t e f u l t o h i m
. H e w a s n o t a c o n s t i t u t i o n a l i s t
f r o m c o n v i c t i o n , a n d p r i v a t e l y f e l t t h a t i t w o u l d b e e x -
c e e d i n g l y d i f f i c u l t t o s e c u r e h i s t h r o n e i n F r a n c e a g a i n s t
t h e w i s h e s o f t h e e a s t e r n P o w e r s a n d w i t h o u t t h e i r s u p -
p o r t
. M o r e o v e r i n t h e s t r i c t e s t s e c r e c y o f h i s o w n h e a r t
h e c h e r i s h e d t h e h o p e o f m a r r y i n g t h e h e i r t o t h e t h r o n e ,
t h e D u k e o f O r l e a n s , t o a n A u s t r i a n a r c h d u c h e s s . J a m e s
R o t h s c h i l d , w h o w a s i n c o n s t a n t t o u c h w i t h t h e m o n a r c h
a n d h i s m o s t i n t i m a t e a d v i s e r s , k n e w t h e k i n g ' s a t t i t u d e ,
n o

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
a n d t h e r e f o r e w i s h e d a s f a r a s p o s s i b l e t o k e e p h i m s e l f
f i n a n c i a l l y o u t o f t h e S p a n i s h h o r n e t s ' n e s t . I t i s u n n e c -
e s s a r y t o o b s e r v e t h a t t h e V i e n n a , F r a n k f o r t , a n d N a p l e s
b r o t h e r s , w h o w e r e f a r t h e r f r o m t h e s c e n e o f a c t i o n , a n d
e n t i r e l y u n d e r t h e i n f l u e n c e o f M e t t e r n i c h , w i s h e d t o h a v e
n o t h i n g w h a t e v e r t o d o w i t h S p a i n
. A t t h a t t i m e t h e f i v e
b r o t h e r s c o n s t i t u t e d a s i n g l e
f i r m ; t h e a c t i o n o f a n y o n e
o f t h e m a f f e c t e d a l l t h e r e s t , a n d h e r e i n l a y t h e p o s s i -
b i l i t y o f c o n f l i c t .
I n s p i t e o f a l l c o n s i d e r a t i o n s a g a i n s t s u c h a c t i o n
N a t h a n h a d t w o v e r y g o o d r e a s o n s f o r w i s h i n g t o m a k e
a l o a n t o S p a i n , i . e . ,
t o t h e Q u e e n R e g e n t M a r i e C h r i s t i n e .
H e w o u l d b e a c t i n g i n a c c o r d a n c e w i t h t h e w i s h e s o f t h e
B r i t i s h g o v e r n m e n t , a n d i t w o u l d w o r k i n c o n v e n i e n t l y
a s p a r t o f a l a r g e s c h e m e h e w a s p l a n n i n g , w h i c h p r o m -
i s e d t o b e a n e x c e l l e n t p i e c e o f b u s i n e s s . T h e r e w e r e o n l y
t w o p l a c e s o n t h e c o n t i n e n t o f E u r o p e w h e r e q u i c k s i l v e r
w a s p r o d u c e d , w h i l e o v e r s e a s s o u r c e s w e r e p r a c t i c a l l y
n e g l i g i b l e
. T h e t w o s o u r c e s w e r e t h e q u i c k s i l v e r m i n e s
o f I d r i a , w h i c h t h e H o u s e o f R o t h s c h i l d h a d p u r c h a s e d
f r o m t h e A u s t r i a n g o v e r n m e n t a n d w o r k e d , a n d t h e
q u i c k s i l v e r m i n e s o f A l m a d e n i n S p a i n , t h e p r o d u c t s o f
w h i c h c o n s t i t u t e d a n i m p o r t a n t r e v e n u e f o r S p a i n . A
c o n c e r n p o s s e s s i n g b o t h q u i c k s i l v e r . m i n e s w o u l d h a v e
e s t a b l i s h e d a m o n o p o l y a n d w o u l d b e a b l e t o c o n t r o l t h e
p r i c e o f t h e m e t a l .
S u c h w a s N a t h a n ' s s c h e m e , a n d h e w a s n o w e n d e a v o r -
i n g t o o b t a i n t h e c o n c e s s i o n o f t h e A l m a d e n m i n e s f r o m
S p a i n i n r e t u r n f o r t h e f i n a n c i a l a s s i s t a n c e s h e w a s a l w a y s
n e e d i n g , w i t h a v i e w t o w o r k i n g t h e m i n t e n s i v e l y . T h e s e
m i n e s h a d b e e n o w n e d b y t h e F u g g e r s i n t h e s i x t e e n t h
c e n t u r y , a n d t h e i d e a a p p e a l e d t o N a t h a n o f f u r t h e r e m -
p h a s i z i n g t h e s i m i l a r i t y b e t w e e n t h e p o s i t i o n a n d i n f l u -
e n c e e x e r c i s e d b y t h a t h o u s e a n d b y h i s o w n
. N a t h a n s e n t
h i s s o n L i o n e l t o M a d r i d t o c a r r y o u t h i s p l a n s .
I n a g r e e m e n t w i t h t h e q u e e n r e g e n t t h e S p a n i s h g o v -
e r n m e n t h a d d e c i d e d t o a u c t i o n t h e r i g h t o f w o r k i n g t h e
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e i i i
A l m a d e n m i n e s , w h i c h a t t h a t t i m e y i e l d e d o n l y 16 , o o o
t o i 8 , o o o h u n d r e d w e i g h t o f q u i c k s i l v e r a t 37 p e s e t a s p e r
h u n d r e d w e i g h t , o f f e r i n g a l e a s e o f a b o u t f i v e y e a r s , i n
o r d e r t h a t t h e p r o d u c t i v i t y o f t h e m i n e s m i g h t b e i n -
c r e a s e d b y t h e e x p e n d i t u r e o f f o r e i g n c a p i t a l . O f f e r s w e r e
t o b e s e n t i n t o t h e f i n a n c e m i n i s t e r u n d e r s e a l a n d t h e n
e x a m i n e d .
T h e H o u s e o f R o t h s c h i l d e m p l o y e d t h e i r o l d t a c t i c s .
T h e y o f f e r e d 5 r e a l s m o r e t h a n a n y o t h e r o f f e r w h i c h
s h o u l d n o t e x c e e d 54 p i a s t e r s t h e h u n d r e d w e i g h t
. T h e
. S p a n i s h g o v e r n m e n t w a s e s p e c i a l l y i n c l i n e d t o g i v e t h e
l e a s e t o t h e H o u s e o f R o t h s c h i l d b e c a u s e L i o n e l h a d c o m e
w i t h a n o f f e r f r o m N a t h a n t o l e n d t h e g o v e r n m e n t i 5
m i l l i o n f r a n c s a t a l o w r a t e o f i n t e r e s t , a n d t h i s o f f e r h a d
b e e n g r a t e f u l l y a c c e p t e d . M o r e o v e r , t h e S p a n i s h g o v e r n -
m e n t m u c h p r e f e r r e d d e a l i n g w i t h t h e p o w e r f u l f i r m o f
R o t h s c h i l d , w i t h i t s w o r l d - w i d e c o n n e c t i o n , t o d e a l i n g
w i t h t h e s m a l l n a t i v e b a n k s w h i c h w e r e f i n a n c i a l l y w e a k
.
T h e R o t h s c h i l d s h a d s h o w n a n u n c a n n y i n s t i n c t i n h i t -
t i n g o n t h e f i g u r e 54
; f o r t h e h i g h e s t o f f e r , w h i c h w a s
m a d e b y t h e S p a n i s h B a n k o f Z u l u e t e , w a s e x a c t l y 54
p i a s t e r s , a n d t h e R o t h s c h i l d s , h a v i n g o f f e r e d 5 r e a l s m o r e ,
w e r e i n d i c a t e d a s p e r s o n s w h o s h o u l d g e t t h e c o n t r a c t .
A s o l e m n a g r e e m e n t w a s a c c o r d i n g l y s i g n e d o n F e b r u -
a r y 2 1, 18 35, b y L i o n e l R o t h s c h i l d a n d t h e S p a n i s h
f i n a n c e m i n i s t e r , C o u n t J o s e M a r i a T o r e n o , a n d t h e
a g r e e m e n t a l s o b o r e t h e s i g n a t u r e o f t h e q u e e n r e g e n t ,
M a r i e C h r i s t i n e
. T o m a r k t h e o c c a s i o n L i o n e l w a s m a d e
a m e m b e r o f t h e O r d e r o f I s a b e l l a t h e C a t h o l i c
.
T o r e n o h a d p a s s e d a n a d v e n t u r o u s l i f e . A t t h e t i m e o f
t h e f i r s t N a p o l e o n i n i 8 o 8 h e h a d c a r r i e d t h r o u g h t h e
m e m o r a b l e a l l i a n c e b e t w e e n S p a i n a n d E n g l a n d a g a i n s t
t h e m i g h t y C o r s i c a n . H e w a s a m a n o f l i b e r a l l e a n i n g s ,
a n d a d v o c a t e d f r e e d o m o f t h e p r e s s , t h e a b o l i t i o n o f t h e
I n q u i s i t i o n , a n d t h e d i s s o l u t i o n o f t h e i n n u m e r a b l e s p i r i t -
u a l O r d e r s s c a t t e r e d o v e r S p a i n
. H e w a s t h e r e f o r e f o r c e d
t o l e a v e S p a i n w h e n t h e r e a c t i o n a r y K i n g F e r d i n a n d V I I
112

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
r e t u r n e d , a n d l i v e d f o r a l o n g t i m e i n P a r i s , w h e r e h e
m a d e t h e a c q u a i n t a n c e o f J a m e s R o t h s c h i l d , b u t f e l l o u t
w i t h h i m , p r o b a b l y o w i n g t o t h e r e f u s a l t o g r a n t a l o a n .
O n t h e d e a t h o f K i n g F e r d i n a n d V I I h e w a s r e c a l l e d t o
o f f i c e b y t h e q u e e n r e g e n t , a n d m a d e f i n a n c e m i n i s t e r o n
J u n e i 5, 18 34 , t h u s a t t a i n i n g a p o s i t i o n w h i c h w a s o f t h e
v e r y g r e a t e s t i m p o r t a n c e t o t h e H o u s e o f R o t h s c h i l d , e v e n
t h o u g h i t i n t e r v e n e d i n S p a n i s h a f f a i r s o n l y t h r o u g h
N a t h a n ' s b r a n c h .
T h i s f a c t d i d n o t a t t h e t i m e p r e j u d i c e t h e q u i c k s i l v e r
m i n e a g r e e m e n t b e c a u s e T o r e n o n e e d e d t h e m o n e y f o r t h e
s t a t e . I n d e e d L i o n e l h a d o n M a y 2 7, i n a c c o r d a n c e w i t h
t h e u s u a l c u s t o m o f t h e H o u s e , a s k e d f o r a n d o b t a i n e d c e r -
t a i n m o d i f i c a t i o n s o f t h e a g r e e m e n t i n t h e i r f a v o r , t h e
m o s t i m p o r t a n t o f w h i c h w a s t h a t t h e S p a n i s h g o v e r n -
m e n t s h o u l d r e n o u n c e a r i g h t t o t e r m i n a t e t h e a g r e e m e n t
a t t h e e n d o f t h r e e y e a r s i n r e t u r n f o r a s l i g h t i n c r e a s e i n
t h e p r i c e p e r h u n d r e d . T h e R o t h s c h i l d s a g r e e d t o p a y 55
p i a s t e r s p e r h u n d r e d w e i g h t , a n d a l l a l t e r a t i o n s i n t h e c o n -
t r a c t w e r e a c c e p t e d o n J u n e 4 , 18 35, t h e R o t h s c h i l d s h a v -
i n g b r o u g h t p r e s s u r e t o b e a r o n v a r i o u s i m p o r t a n t p e r s o n s ,
n o t n e g l e c t i n g t h e c i v i l l i s t o f t h e q u e e n , t o w h i c h t h e y
a r e s a i d t o h a v e c o n t r i b u t e d 500, o o o f r a n c s , t h e q u e e n
b e i n g i n v e r y s t r a i t e n e d c i r c u m s t a n c e s a t t h e t i m e . 2
T h e t r a n s a c t i o n w a s p r o f i t a b l e t o b o t h p a r t i e s , f o r , b y
v i r t u e o f t h e m o n o p o l y w h i c h t h e y h a d a c h i e v e d , t h e
R o t h s c h i l d s w e r e e n a b l e d t o s e l l t h e m i n e r a l , w h i c h c o s t
t h e m 55 p i a s t e r s p e r h u n d r e d w e i g h t , a t 76 a n d e v e n a t
8 o i n L o n d o n . T h i s n a t u r a l l y y i e l d e d a v e r y c o n s i d e r a b l e
p r o f i t , a n d e v e r y t h i n g w a s d o n e t o i n c r e a s e o u t p u t , a f a c t
f r o m w h i c h t h e S p a n i s h g o v e r n m e n t a l s o b e n e f i t e d ; a n d
i t t o o k a d v a n t a g e o f t h e p o s i t i o n c o n s t a n t l y t o a s k t h e
H o u s e o f R o t h s c h i l d f o r a d v a n c e s o n a c c o u n t o f t h e
q u i c k s i l v e r r o y a l t i e s .
N e v e r t h e l e s s S p a i n ' s f i n a n c i a l p o s i t i o n g r e w s t e a d i l y
w o r s e o w i n g t o t h e i n t e r m i n a b l e c i v i l w a r a n d m a l a d m i n -
i s t r a t i o n
. N o t c o n t e n t w i t h t h e a d v a n c e o f 15, o o o , o o o
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
113
f r a n c s , a n d t h e r e c e i p t s f r o m t h e q u i c k s i l v e r m i n e s , T o -
r e n o a g a i n a p p r o a c h e d t h e F r e n c h H o u s e - t h a t i s , J a m e s
- i n s p i t e o f h i s p r e v i o u s . r e f u s a l , f o r a n a d v a n c e . J a m e s ,
h o w e v e r , h a d n o p o l i t i c a l r e a s o n s f o r l e n d i n g m o n e y t o
S p a i n , a n d t h e q u i c k s i l v e r b u s i n e s s h a d b e e n s a t i s f a c t o r i l y
s e t t l e d
. T o r e n o ' s r e q u e s t w a s t h e r e f o r e r e f u s e d , a f a c t
w h i c h m a d e h i m i n d i g n a n t , n o t o n l y w i t h J a m e s b u t w i t h
t h e w h o l e H o u s e o f R o t h s c h i l d . M e a n w h i l e T o r e n o s u c -
c e e d e d i n a r r a n g i n g t h e l o a n w i t h A r d o u i n , a n o t h e r
b a n k e r , b u t o n v e r y u n f a v o r a b l e c o n d i t i o n s
. T h e c o u r s e o f
t h e n e g o t i a t i o n s h a d f u r t h e r r e v e a l e d t o t h e R o t h s c h i l d s
t h e e x c e e d i n g l y u n s a t i s f a c t o r y c o n d i t i o n o f S p a i n ' s
f i n a n c e s . T h e f o u r b r o t h e r s o n t h e C o n t i n e n t , w h o h a d
a n y h o w r e s e n t e d N a t h a n ' s a c t i o n i n a d v a n c i n g 15, o o o , o o o ,
b e c a m e a n x i o u s a b o u t t h e i r m o n e y , a n d r e p r o a c h e d t h e i r
b r o t h e r . I t w a s f i n a l l y d e c i d e d t o b r i n g e v e r y p o s s i b l e
p r e s s u r e t o b e a r o n t h e S p a n i s h g o v e r n m e n t t o r e p a y i t
.
T h i s a r o u s e d T o r e n o ' s h o s t i l i t y t o t h e f u l l , a n d h e m a d e
e v e r y e f f o r t t o p u t o b s t a c l e s i n t h e w a y o f t h e r e p a y m e n t
o f t h e m o n e y b y t h e S p a n i s h g o v e r n m e n t
. I n t h e e n d , a n d
a t t h e c o s t o f m u c h e f f o r t , t h e R o t h s c h i l d s s u c c e e d e d i n
r e c o v e r i n g p a r t o f t h e i r m o n e y i n c a s h , a n d p a r t o f i t i n
t h e v e r y d o u b t f u l b o n d s o f t h e A r d o u i n l o a n
. T h e y m a n -
a g e d t o d o t h i s , h o w e v e r , b y t h e s i m p l e p r o c e s s o f b u y i n g
t h e o b s t i n a t e f i n a n c e m i n i s t e r
. T h e m a n c e r t a i n l y p r o v e d
e x p e n s i v e ; h e g o t
1, 300, 000 f r a n c s a s a f i r s t i n s t a l m e n t ,
a n d a f u r t h e r 300, 000 f r a n c s i n t h e c o u r s e o f t h e n e g o t i a -
t i o n s , t h a t i s , a t o t a l o f 1, 6 o o , o o o f r a n c s
.
A f t e r t h u s r e c o v e r i n g t h e m o n e y w h i c h t h e y h a d l e n t
t o S p a i n , t h e b r o t h e r s h a d a d i s c u s s i o n i n P a r i s a t w h i c h
t h e y e x p r e s s e d t h e i r r a g e a n d i n d i g n a t i o n a t t h e a t t i t u d e
o f t h e S p a n i s h g o v e r n m e n t , a n d p a r t i c u l a r l y a t t h e c o n -
t e m p t i b l e i n g r a t i t u d e a n d u n s c r u p u l o u s a v a r i c e o f T o -
r e n o
. T h e y d e c i d e d t o t a k e e x e m p l a r y v e n g e a n c e o n h i m ,
a n d t h e y s u c c e e d e d o n l y t o o w e l l
b y m e a n s o f a b e a r
o p e r a t i o n , t o w h i c h f u r t h e r r e f e r e n c e w i l l b e m a d e
.
I n o r d e r t o s e t t l e t h e s e r i s k y S p a n i s h t r a n s a c t i o n s ,
114

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
w h i c h h a d b e e n f a r f r o m g o i n g t h r o u g h t o t h e s a t i s f a c -
t i o n o f a l l t h e b r o t h e r s , J a m e s R o t h s c h i l d w e n t t o s e e
N a t h a n i n L o n d o n ~ t t h e e n d o f M a y , 18 35, i n t e n d i n g
t o t a k e a d v a n t a g e o f t h i s o p p o r t u n i t y f o r n e g o t i a t i n g w i t h
a
b u s i n e s s f r i e n d , D o n J u a n A l v a r e z y M e n d i z a b a l , i n
m a t t e r s r e g a r d i n g P o r t u g a l ' s p u b l i c f i n a n c e s . W h i l e h e
w a s t h e r e t h e y r e c e i v e d t h e a l a r m i n g n e w s t h a t M a r t i n e z
d e l l a R o s a ' s m i n i s t r y h a d b e e n f o r c e d t o r e s i g n o n t h e
q u e s t i o n o f F r a n c o - B r i t i s h i n t e r v e n t i o n , a n d t h a t t h e n e w
p r i m e m i n i s t e r w a s n o n e o t h e r t h a n t h e n o t o r i o u s C o u n t
T o r e n o . N a t h a n w a s t e r r i f i e d b y t h i s a p p o i n t m e n t , a l -
t h o u g h t h e b a d n e w s w a s m o d i f i e d b y t h e f a c t t h a t T o r e n o
m e a n t t o a s k M e n d i z a b a l , w h o w a s f r i e n d l y t o t h e R o t h s -
c h i l d s , t o t a k e o f f i c e u n d e r h i m a s f i n a n c e m i n i s t e r .
T h e a p p o i n t m e n t o f T o r e n o , a n d t h e w r e t c h e d c o n d i -
t i o n o f t h e p u b l i c f i n a n c e s , a s w e l l a s t h e u n f a v o r a b l e
m i l i t a r y p o s i t i o n w i t h r e g a r d t o t h e P r e t e n d e r , D o n
C a r l o s , m a d e N a t h a n n e r v o u s a b o u t a l l h i s c o m m i t m e n t s
i n S p a i n , i n c l u d i n g t h e h i g h l y p r o f i t a b l e q u i c k s i l v e r
m i n e s . I f D o n C a r l o s w e r e t o c o m e i n t o p o w e r i t w o u l d
b e t h e d e a t h b l o w t o a l l t h e i n t e r e s t s i n S p a i n o f N a t h a n
a s b e i n g t h e s u p p o r t e r o f t h e q u e e n r e g e n t a n d h e r l i b -
e r a l a d h e r e n t s . H e t h e r e f o r e m a d e g r e a t e f f o r t s a t t h i s
t i m e t o s e c u r e t h e a r m e d i n t e r v e n t i o n o f E n g l a n d a n d
F r a n c e i n S p a i n . H o w e v e r , a l l t h a t h e w a s a b l e t o p e r -
s u a d e t h e g o v e r n m e n t s t o d o w a s , i n t h e c a s e o f F r a n c e ,
t o p l a c e t h e F o r e i g n L e g i o n a t t h e f r e e d i s p o s a l o f t h e
q u e e n , a n d i n t h e c a s e o f E n g l a n d t o r a i s e a v o l u n t e e r
r e g i m e n t , d e s p i t e t h e p r o t e s t o f t h e T o r i e s . N a t h a n
a c t i v e l y a s s i s t e d i n r e c r u i t i n g t h e v o l u n t e e r s , w h i c h w i t h -
o u t h i s m o n e y w o u l d h a v e b e e n i m p o s s i b l e .
V o n H u m m e l a u e r , c h a r g e d ' a f f a i r e s a t t h e A u s t r i a n
e m b a s s y i n L o n d o n , w h o w a s a n y t h i n g b u t w e l l d i s p o s e d
t o N a t h a n , h e a r d o f h i s a c t i v i t i e s t h r o u g h K i r c h n e r , a
c l e r k a t t h e c o n s u l a t e - g e n e r a l , w h o h a d b e e n e n g a g e d b y
a n d d r e w h i s s a l a r y f r o m N a t h a n . T h i s m a n w a s t h e r e -
f o r e q u i t e d e f i n i t e l y a c t i n g a s a s p y f o r A u s t r i a w h i l e
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e t i S
b e i n g a n o f f i c i a l o f a n A u s t r i a n c o n s u l a t e . 3 V o n H u m -
m e l a u e r , w h o d i s t r u s t e d N a t h a n , a n d r i g h t l y c o n s i d e r e d
t h a t N a t h a n d i d n o t t a k e h i s d u t i e s a s A u s t r i a n c o n s u l -
g e n e r a l v e r y s e r i o u s l y , w a s a n x i o u s t o k e e p a c l o s e r e y e
o n t h e a c t i v i t i e s o f t h e H o u s e o f R o t h s c h i l d b y t h i s m e a n s .
N a t h a n w a s n o t a w a r e t h a t h e h a d a p o w e r f u l e n e m y i n
v o n H u m m e l a u e r , w h o o f t e n r e p o r t e d d i r e c t t o V i e n n a
i n t h e f r e q u e n t a b s e n c e o f t h e i n d o l e n t a m b a s s a d o r , a n d
t h u s h a d g a i n e d t h e e a r o f M e t t e r n i c h .
N a t h a n g e n e r a l l y c a l l e d a t t h e A u s t r i a n e m b a s s y o n
S u n d a y s a n d w o u l d t a l k t o v o n H u m m e l a u e r i f E s t e r -
h a z y w a s a w a y . O n h e a r i n g o f t h e e x p e c t e d f a l l o f t h e
S p a n i s h m i n i s t r y , a n d t h a t T o r e n o w o u l d p r o b a b l y b e -
c o m e p r e s i d e n t , h e c a l l e d a t t h e e m b a s s y s h o w i n g e v e r y
s i g n o f a l a r m a n d d i s t r e s s . H e s t a t e d e m p h a t i c a l l y t h a t i t
w a s c l e a r f r o m a l e t t e r h i s P a r i s b r o t h e r h a d s e n t h i m ,
t h a t i f t h e e a s t e r n P o w e r s s h o u l d p r e v e n t F r a n c e f r o m
i n t e r v e n i n g i n S p a i n , L o u i s P h i l i p p e w o u l d b e f i n i s h e d ,
a n d d e t h r o n e d w i t h i n a f e w w e e k s i f n o t d a y s . V o n
H u m m e l a u e r ' s v i e w w a s t h a t t h i s w a s a b s o l u t e l y i n c o n -
s i s t e n t w i t h t h e r e p o r t s f r o m P a r i s , b u t h e f e l t t h a t
N a t h a n w a s i n a p o s i t i o n t o s p e a k w i t h s u c h a u t h o r i t y
t h a t w h a t h e s a i d c o u l d n o t b e e n t i r e l y i g n o r e d
. M o r e -
o v e r , J a m e s a l s o b e i n g p r e s e n t i n L o n d o n i n d i c a t e d t h a t
t h e t w o b r o t h e r s w e r e t a k i n g i m p o r t a n t d e c i s i o n s
.
P r i n c e M e t t e r n i c h h a d r e c e i v e d i n f o r m a t i o n f r o m t h e
m o s t v a r i o u s s o u r c e s t o t h e e f f e c t t h a t t h e H o u s e o f R o t h s -
c h i l d w a s s u p p o r t i n g w i t h m o n e y , n o t h i s c a n d i d a t e , t h e
" L e g i t i m i s t ' a n d r e a c t i o n a r y D o n C a r l o s , w h o w a s f i g h t -
i n g t h e q u e e n r e g e n t , b u t t h e Q u e e n R e g e n t C h r i s t i n e
h e r s e l f , w h o h a d b e e n b o r n o f t h e f o a m o f t h e r e v o l u t i o n ;
i n a d d i t i o n t o a l l t h i s h e w a s n o w t o l d t h a t J a m e s h a d
a c t u a l l y t r a v e l e d f r o m P a r i s t o L o n d o n i n o r d e r t o l e n d
c o n s i d e r a b l e f i n a n c i a l a i d i n s u p p o r t o f E n g l a n d ' s m i l i -
t a r y e x p e n d i t u r e o n b e h a l f o f Q u e e n C h r i s t i n e , i n o r d e r
t h a t S p a n i s h s e c u r i t i e s m i g h t r i s e i n v a l u e . A s M e t t e r n i c h
w a s u n a b l e t o s p e a k p e r s o n a l l y t o S o l o m o n , w h o w a s s t a y -
116

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
i n g i n P a r i s , h e d e c i d e d t o i n s t r u c t h i s a m b a s s a d o r i n
P a r i s , C o u n t A p p o n y i , t o d o s o . H e w r o t e a l e t t r e p a r t i -
c u l i e r e t o t h e c o u n t , e x p l a i n i n g h i s s u s p i c i o n s o f t h e
b r o t h e r s R o t h s c h i l d , a n d i n s t r u c t i n g t h e a m b a s s a d o r t o
f i n d o u t w h a t t h e p o s i t i o n w a s .
C o u n t A p p o n y i t o o k t h e b u l l b y t h e h o r n s . A l t h o u g h
h e m u s t h a v e r e a l i z e d t h a t h e w a s s c a r c e l y l i k e l y t o g e t a
c o m p l e t e e x p l a n a t i o n i n t h i s w a y , h e s i m p l y c a l l e d o n
S o l o m o n R o t h s c h i l d t o a s k h i m a b o u t t h e m a t t e r . A p -
p o n y i ' s r e p o r t o n t h e m e e t i n g i s e x c e e d i n g l y i n t e r e s t i n g ,
a l t h o u g h S o l o m o n c a n s c a r c e l y h a v e r e v e a l e d t o t h e a m -
b a s s a d o r t h e
f o n d d e
s a
p e n s e e g
W h e n A p p o n y i e x p l a i n e d t o h i m t h a t M e t t e r n i c h w a s
u n e a s y r e g a r d i n g t h e p o l i c y o f t h e H o u s e o f R o t h s c h i l d
i n S p a i n , S o l o m o n R o t h s c h i l d a t f i r s t e x p r e s s e d h i s p a i n -
f u l
f u l a s t o n i s h m e n t a t s u c h a p p a r e n t m i s t r u s t r e g a r d i n g t h e
a t t i t u d e o f h i s H o u s e i n r e l a t i o n t o t h e f i n a n c i a l s i d e o f
t h e S p a n i s h q u e s t i o n . H e m o s t s o l e m n l y p r o t e s t e d h i s s i n -
c e r i t y a n d h i s g o o d f a i t h , a n d a s s u r e d A p p o n y i t h a t p r e -
c i s e l y t h e c o n v e r s e w a s t r u e , a n d t h a t t h e r u m o r s t h a t
w e r e c u r r e n t w e r e e n t i r e l y u n f o u n d e d . H e f o l l o w e d t h i s
u p w i t h t h e s o m e w h a t f a r - f e t c h e d a s s e r t i o n , t o l d t o t h e
c o u n t u n d e r t h e " s e a l o f t h e s t r i c t e s t s e c r e c y , " a n d
p r o m p t l y r e t a i l e d b y h i m t o M e t t e r n i c h , t h a t N a t h a n ,
t h e h e a d o f t h e L o n d o n b r a n c h , h a d a l l o w e d h i m s e l f t o
b e p e r s u a d e d b y t h e e n t r e a t i e s o f h i s w i f e H a n n a h ,
d a u g h t e r o f t h e E n g l i s h b a n k e r C o h e n , w h o h a d h e r s e l f
b e e n b r o u g h t i n t o t h e m a t t e r b y a c o m p l i c a t e d p r o c e s s
o f i n t r i g u e , t o a d v a n c e a b o u t 16 , o o o , o o o f r a n c s t o t h e
S p a n i s h g o v e r n m e n t . T h e f o u r b r o t h e r s h a d h i g h l y d i s -
a p p r o v e d o f t h i s o p e r a t i o n a n d r e g r e t t e d i t , b u t t h e y h a d
i n e v i t a b l y b e e n i n v o l v e d i n t h e t r a n s a c t i o n , s i n c e t h e y
w e r e a l l p a r t n e r s a n d j o i n t l y r e s p o n s i b l e f o r t h e a c t i o n s
o f a n y o n e m e m b e r o f t h e H o u s e .
S o l o m o n t h u s e n d e a v o r e d , b y p l e a d i n g f e m a l e i n f l u -
e n c e , t o s o f t e n t h e e f f e c t o f h i s p a i n f u l c o n f e s s i o n t h a t , i n
s p i t e o f a l l t h e i r a s s u r a n c e s t o t h e c o n t r a r y , h i s H o u s e h a d
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
117
g r a n t e d a l o a n t o t h e l i b e r a l R e g e n t o f S p a i n , w h o w a s
f i g h t i n g a g a i n s t M e t t e r n i c h ' s p r o t e g e , D o n C a r l o s . H e
p r o c e e d e d t o r e c o u n t t h e f u r t h e r u n f o r t u n a t e v i c i s s i t u d e s
c o n n e c t e d w i t h t h i s l o a n o f f i f t e e n t o s i x t e e n m i l l i o n s , a n d
t h e " i n d e s c r i b a b l e " c o n d u c t o f T o r e n o i n t h e m a t t e r .
" H e r e w e g i v e S p a i n , " h e s a i d , " o u r h o n e s t m o n e y , a t a
l o w r a t e o f i n t e r e s t , s u c h a s a n y b o d y w o u l d h a v e p a i d ,
a n d t h e n w e h a v e t o p a y a b r i b e o f t h i r t e e n h u n d r e d
t h o u s a n d f r a n c s , a n d t h r e e h u n d r e d t h o u s a n d f r a n c s t o
o t h e r p e o p l e , a n d t o a c c e p t q u i c k s i l v e r a n d r u b b i s h
[ b y t h i s h e m e a n t t h e A r d o u i n d e b e n t u r e s ] i n p l a c e o f
p a y m e n t l "
T h e r e u p o n t h e b r o t h e r s R o t h s c h i l d i n L o n d o n a n d
P a r i s p r o c e e d e d t o w o r k f o r a f a l l i n S p a n i s h f u n d s ,
a p p l y i n g a n a m o u n t o f i , 8 o o , o o o t o t h i s p u r p o s e l T h e
o p e r a t i o n w a s c o m p l e t e l y s u c c e s s f u l , S p a n i s h r e n t e s f a l l -
i n g f r o m 70 t o 37, a n d t h e p a n i c r e s u l t i n g f r o m t h e t e r -
r i b l e f a l l i n v a l u e o f S p a n i s h s e c u r i t i e s i n L o n d o n w a s
s i m p l y a n d s o l e l y t h e r e s u l t o f t h e R o t h s c h i l d s ' a c t o f
v e n g e a n c e . T h o u s a n d s o f h o l d e r s o f S p a n i s h s e c u r i t i e s
l o s t t w o - t h i r d s o f t h e i r p r o p e r t y , b u t t h e R o t h s c h i l d s
m a d e f a r m o r e o u t o f i t t h a n t h e a m o u n t o f t h e g r a t u i t y
- e n p o t s d e v i n ,
a s A p p o n y i p u t i t - w i t h w h i c h t h e y
h a d b r i b e d C o u n t T o r e n o .
" T e l l P r i n c e M e t t e r n i c h , " S o l o m o n R o t h s c h i l d w e n t
o n t o s a y t o A p p o n y i , " t h e H o u s e o f R o t h s c h i l d h a s d o n e
a l l t h i s f o r v e n g e a n c e , a n d i f D o n C a r l o s i s s u c c e s s f u l h e
w i l l l a r g e l y h a v e t h e H o u s e o f R o t h s c h i l d t o t h a n k f o r i t .
M y b r o t h e r N a t h a n c a n n o t s t a n d L o n d o n a n y l o n g e r , h e
i s t o o d i s g u s t e d w i t h t h e S p a n i s h b u s i n e s s . H e w a n t e d ,
e v e n w i t h o u t h a v i n g c l e a r e d u p h i s a c c o u n t s a n d p u t h i s
a f f a i r s i n o r d e r , f o r w h i c h h e d i d n o t f e e l s u f f i c i e n t l y
c a l m , i m m e d i a t e l y t o l e a v e f o r F r a n k f o r t . J a m e s t h e r e -
u p o n o f f e r e d t o h e l p h i m t o c l e a r t h i n g s u p , a n d t h a t i s
t h e r e a l r e a s o n w h y J a m e s w e n t t o L o n d o n . A s s o o n a s
t h i s b u s i n e s s i s s e t t l e d , m y b r o t h e r N a t h a n i s g o i n g t o
F r a n k f o r t t o s p e n d a
f e w m o n t h s t h e r e .
118

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
" T h i s i s t h e w h o l e o f o u r s e c r e t , a n d I a m c o n f i d i n g i t
t o y o u ; b u t k i n d l y b e a r i n m i n d t h a t , i f i t w e r e t o c o m e
o u t , w e m i g h t b e i n p e r s o n a l d a n g e r , f o r h o w m a n y t h e r e
m u s t b e w h o w o u l d g l a d l y m u r d e r u s f o r t h e m i s f o r t u n e s
t h e y h a v e s u f f e r e d l W e h a v e a l r e a d y s e n t t h r e e c o u r i e r s
t o r e c a l l m y n e p h e w L i o n e l f r o m M a d r i d , a s i f a n y t h i n g
w e r e t o l e a k o u t h e w o u l d b e i n s e r i o u s d a n g e r t h e r e
. "
C o u n t A p p o n y i w a s p r o f o u n d l y m o v e d b y t h i s s t o r y
.
H e f e l t t h e e n o r m o u s p o w e r w i e l d e d b y t h e H o u s e o f
R o t h s c h i l d , a n d w h a t a m i s f o r t u n e a n d a s t u p i d i t y i t
w o u l d b e t o e x p o s e o n e s e l f t o t h e r i s k o f i n c u r r i n g i t s
v e n g e a n c e . T h e r e w e r e c e r t a i n l y m a n y m o r e i n n o c e n t
t h a n g u i l t y a m o n g t h e v i c t i m s , b u t C o u n t A p p o n y i h a d
g r o u n d s f o r s a t i s f a c t i o n , s i n c e t h e f a l l i n S p a n i s h s e c u r i -
t i e s h a d n a t u r a l l y a f f e c t e d C o u n t T o r e n o ' s p r e s t i g e , a n d
t h e q u e e n r e g e n t , M a r i e C h r i s t i n e , a n d h e r s y s t e m , w h i c h
w a s s o v i g o r o u s l y o p p o s e d b y A p p o n y i ' s s u p r e m e c h i e f ,
t h e a l l - p o w e r f u l M e t t e r n i c h , h a d s u f f e r e d a s e r i o u s b l o w .
" I s i t p o s s i b l e f o r a b a n k e r , " A p p o n y i a s k e d , " t o t a k e
v e n g e a n c e i n a n y o t h e r w a y , h a v i n g r e g a r d t o t h e n u m e r -
o u s i n n o c e n t v i c t i m s o f s u c h a n o p e r a t i o n ; a n d a r e w e
j u s t i f i e d i n c o m p l a i n i n g o f t h e e f f e c t p r o d u c e d b y t h i s
o p e r a t i o n u p o n o n e o f t h e m o s t i m p o r t a n t p o l i t i c a l q u e s -
t i o n s o f o u r t i m e ? "
M e a n w h i l e M e t t e r n i c h h a d a l s o r e c e i v e d r e p o r t s f r o m
v o n H u m m e l a u e r i n E n g l a n d , a n d E s t e r h a z y h a d r e -
c e i v e d , m o r e p a r t i c u l a r l y t h r o u g h t h e A u s t r i a n a m b a s s a -
d o r i n L o n d o n , v a r i o u s i t e m s o f i n f o r m a t i o n c o m p r o m i s -
i n g t h e H o u s e o f R o t h s c h i l d w i t h r e g a r d t o i t s S p a n i s h
p o l i c y . E s t e r h a z y a s k e d N a t h a n a n d J a m e s t o c o m e a n d
s e e h i m , a n d q u e s t i o n e d t h e m o n t h e m a t t e r
. T h e y n a t u -
r a l l y d i d t h e i r b e s t t o a l l a y t h e a m b a s s a d o r ' s f e a r s . J a m e s
w r o t e a l e t t e r f r o m L o n d o n o n J u n e 2 3, 18 35, c o n t a i n i n g
t h e f o l l o w i n g p a s s a g e :
s
" W e h a d a l o n g c o n v e r s a t i o n w i t h P r i n c e E s t e r h a z y ,
a n d i t i s c l e a r t h a t P o z z o d o e s n o t l o v e u s . W e t o l d h i m
t h a t w e a r e h a v i n g n o t h i n g w h a t e v e r t o d o w i t h S p a i n ,
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 119
o r w i t h t h e p a y m e n t s t o t h e t r o o p s i n E n g l a n d ; f o r P o z z o
s p o k e a s t h o u g h w e w e r e p r o v i d i n g t h e m o n e y f o r r a i s i n g
t h e t r o o p s h e r e . W e t o l d P r i n c e E s t e r h a z y t h a t h e c o u l d
w r i t e t o t h e P r i n c e t h a t w e h a d h a d a b s o l u t e l y n o t h i n g
t o d o w i t h t h e m a t t e r . "
S u c h w a s t h e p o s i t i o n o f t h e R o t h s c h i l d s , t h a t t h e y n a t -
u r a l l y a v o i d e d e x p r e s s i n g t h e i r i n m o s t t h o u g h t s i n l e t t e r s
w h i c h w e r e d e s t i n e d t o b e c o m m u n i c a t e d t o P r i n c e M e t -
t e r n i c h o r C o u n t A p p o n y i . O n e f a c t w a s c l e a r l y e s t a b -
l i s h e d ; n a m e l y , t h a t t h e L o n d o n R o t h s c h i l d s t o o d f o r t h e
s a m e l i b e r a l v i e w s a s t h e B r i t i s h g o v e r n m e n t , a n d t h a t
w a s t h e e s s e n c e o f t h e m a t t e r .
V o n H u m m e l a u e r t r u s t e d N a t h a n n o f a r t h e r t h a n h e
c o u l d s e e h i m . " F o r , " h e w r o t e a l i t t l e l a t e r , " " e v e n i f
N a t h a n h a d e n t i r e l y d i s p o s e d o f t h e S p a n i s h a f f a i r , I
s h o u l d n o t r e g a r d t h i s a s a n y r e a l g u a r a n t y f o r h i s c o n -
d u c t i n t h e f u t u r e . L a s t y e a r , w h e n h e b e c a m e a p a r t n e r
t o a l l t h e i n t r i g u e s o f t h e Q u a d r u p l e A l l i a n c e , h e o b -
s e r v e d t o m e o n e d a y i n o b v i o u s e m b a r r a s s m e n t a s t o
w h a t h e w a s t o s a y : ` I m u s t g r a n t i t ( t h e l o a n o f t h e
m o m e n t ) b e c a u s e , i f I d o n ' t , s o m e b o d y e l s e w i l l . ' H e h a s
j o i n e d t h e r a n k s o f t h e r e v o l u t i o n a r i e s s i m p l y b e c a u s e h e
s a w h i s p r o f i t i n s o d o i n g . H e h a s s t r u c k m e e v e r s i n c e I
h a v e b e e n h e r e a s s o c o m p l e t e l y d i s i n g e n u o u s a n d s o
c h e a p i n h i s m o t i v e s t h a t I a m c o n v i n c e d t h a t h e w i l l
a l w a y s p l u m p f o r t h e s i d e o n w h i c h t h e r e i s a n y t h i n g t o
g a i n , a n d t h a t i f o f f e r s s h o u l d b e m a d e f r o m t h e r e v o l u -
t i o n a r y p a r t y h e w o u l d n o t h e s i t a t e t o a c c e p t t h e m . "
O n r e c e i v i n g t h e s e c o m p l a i n t s f r o m t h e L o n d o n e m -
b a s s y , M e t t e r n i c h p r o t e s t e d t o W e r t h e i m s t e i n , t h e V i e n n a
m a n a g e r o f t h e H o u s e o f R o t h s c h i l d , a n d h e d u l y r e -
p o r t e d o n t h i s t o S o l o m o n i n P a r i s a n d t o t h e t w o b r o t h e r s
i n L o n d o n . T h e r e u p o n N a t h a n a n d J a m e s i n L o n d o n
w e n t t o t h e A u s t r i a n e m b a s s y , w h e r e t h e y f o u n d v o n
H u m m e l a u e r a g a i n i n c h a r g e , a n d n a i v e l y a s k e d h i m o f
a l l p e o p l e t o u s e h i s g o o d o f f i c e s w i t h P r i n c e M e t t e r n i c h
s o t h a t h e m i g h t n o l o n g e r s u f f e r f r o m t h e s e m i s c o n c e p -
12 0

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
t i o n s a s t o t h e i r " r e a l a t t i t u d e . " H u m m e l a u e r d i d n o t
d i s g u i s e f r o m t h e m t h a t h e h a d b e e n t h e c a u s e o f t h e a l a r m
a t V i e n n a . H e s a i d t h a t h e w a s b o u n d t o r e p o r t t h e f a c t
t h a t N a t h a n h a d a t o n e t i m e s p o k e n i n f a v o r o f i n t e r -
v e n t i o n i n S p a i n , o n t h e g r o u n d o f n e w s w h i c h h e h a d
r e c e i v e d . f r o m J a m e s i n P a r i s
. N a t h a n w a s e x c e e d i n g l y
e m b a r r a s s e d , f o r h e w a s u n a b l e t o d e n y t h i s i n f r o n t o f h i s
P a r i s b r o t h e r .
" J a m e s ' s a s t o n i s h m e n t a t m y s t a t e m e n t , " v o n H u m -
m e l a u e r r e p o r t e d , ? " w a s n o l e s s t h a n m y s u r p r i s e , w h e n
J a m e s e m p h a t i c a l l y g a v e m e h i s w o r d t h a t h e h a d w r i t t e n
i n a p r e c i s e l y c o n t r a r y s e n s e t o h i s b r o t h e r , t h a t i s t o s a y ,
a g a i n s t i n t e r v e n t i o n a n d n o t i n
f a v o r o f i t . H e h a d
a c t u a l l y p o i n t e d t o t h e p o s s i b i l i t y o f L o u i s P h i l i p p e l o s -
i n g h i s t h r o n e a s a c o n s e q u e n c e o f i n t e r v e n i n g , a n d n o t
o f r e f r a i n i n g f r o m i n t e r v e n t i o n . E v e r y t h i n g l e a d s m e t o
t h e c o n c l u s i o n t h a t
t h i s s t a t e m e n t o f J a m e s s h o u l d b e
f u l l y b e l i e v e d s i n c e i t e n t i r e l y a g r e e s w i t h e v e r y t h i n g t h a t
o n e h a s h e a r d f r o m P a r i s , a n d a c c o r d s w i t h t h e g e n e r a l
s p i r i t a n d w e l l - k n o w n p u b l i c s e n s e o f t h e h e a d o f t h e
P a r i s b r a n c h , a n d w i t h t h e f a c t o f h i s e x c e p t i o n a l r e l a -
t i o n s w i t h K i n g L o u i s P h i l i p p e . "
S o l o m o n i n P a r i s h a d a l s o r e c e i v e d W e r t h e i m s t e i n ' s
l e t t e r r e g a r d i n g M e t t e r n i c h ' s d i s s a t i s f a c t i o n a n d h i s r e -
q u e s t f o r a n e x p l a n a t i o n . A s h e w a s n o r m a l l y d o m i c i l e d
a t V i e n n a , a n d c o m p l e t e l y d e p e n d e n t u p o n M e t t e r n i c h ,
h e w a s n a t u r a l l y f a r m o r e s e n s i t i v e t o t h e l a t t e r ' s r e -
p r o a c h e s t h a n a n y o f h i s b r o t h e r s . S o l o m o n , w h o w a s
f o r c e d t o l i v e u n d e r t h e i m m e d i a t e e y e o f t h e p r i n c e , w a s
n a t u r a l l y p a r t i c u l a r l y c o n c e r n e d t o c l e a r h i m s e l f , a s f a r
a s t h e V i e n n a c a b i n e t w a s c o n c e r n e d , e v e n i f t h i s h a d t o
b e d o n e a t t h e e x p e n s e o f h i s b r o t h e r N a t h a n . H e d i d
n o t c o n f i n e h i m s e l f t o e x p l a i n i n g h i s p o s i t i o n t o C o u n t
A p p o n y i , b u t h e a l s o w r o t e a t l e n g t h t o W e r t h e i m s t e i n ,
i n s t r u c t i n g h i m t o c o m m u n i c a t e h i s r e m a r k s t o M e t t e r -
n i c h . H i s f a i t h f u l s e c r e t a r y h a d t h e l e t t e r c o p i e d a n d
s u b m i t t e d i t t o M e t t e r n i c h
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 12 1
I d u l y r e c e i v e d y o u r v a l u e d c o m m u n i c a t i o n
[ S o l o m o n ' s l e t t e r s r a n ] r e g a r d i n g t h e a f f a i r s o f m y
b r o t h e r i n L o n d o n . B e f o r e I c o m e t o d e a l w i t h t h e
m a t t e r i t s e l f I m u s t r e m i n d y o u , m y d e a r L e o p o l d ,
t h a t , a s y o u k n o w b u t H . H . t h e P r i n c e c a n n o t k n o w ,
m y b r o t h e r N a t h a n M e y e r i s o n e o f t h e a b l e s t m e n
a s f a r a s t h e E x c h e q u e r a n d p r i c e m o v e m e n t s a r e
c o n c e r n e d , b u t h a s n o s p e c i a l a p t i t u d e i n o t h e r m a t -
t e r s . Y o u k n o w t h a t I a m a c o n f i r m e d e n e m y o f
S p a i n , a n d t h a t h e i s n o l e s s s o , n o t f o r p o l i t i c a l
r e a s o n s , o f w h i c h h e h a s l i t t l e u n d e r s t a n d i n g , b u t o n
a c c o u n t o f t h e f a c t o f
1, 3o o , 000
f r a n c s w h i c h w e h a d
t o s a c r i f i c e i n o r d e r t o r e c o v e r o u r m o n e y , a n d e v e n
t h e n w e d i d n o t r e c o v e r t h e w h o l e a m o u n t , b u t w e r e
f o r c e d t o a c c e p t 6 o o , o o o i n A r d o u i n b o n d s .
W e b r o t h e r s t h e r e u p o n d e c i d e d - t h i s i s b e t w e e n
o u r s e l v e s - t o a v e n g e o u r s e l v e s o n S p a i n a n d o n
T o r e n o , b e c a u s e h e a n d h i s C o u n c i l h a v e c a u s e d u s
a n a c t u a l l o s s o f i , 6 8 o , o o o f r a n c s
. W e d e c i d e d t o
f o r c e T o r e n o i n t o a p o s i t i o n i n w h i c h h e s h o u l d
s u f f e r f o r e v e r y p e n n y t h a t h e h a d t a k e n f r o m o u r
p u r s e , t o r e p a y t h e r o b b e r y b y r u i n i n g h i s s c h e m e s ,
a n d t o i n d e m n i f y o u r s e l v e s f o r o u r l o s s . A n d t h a t
w a s d o n e 1 N a t h a n M e y e r s o l d , i n a d d i t i o n t o 6 o o , -
o o o o f s t o c k , a f u r t h e r
11, 50010001
o n b e a r a c c o u n t ,
a s s h o w n b y t h e e n c l o s e d c o p y o f t h e s t a t e m e n t , t h e
o r i g i n a l o f w h i c h I s h o w e d t o C o u n t A p p o n y i .
N o w y o u k n o w w h a t h a p p e n s i n a b e a r o p e r a t i o n ;
w h e n t h e t i m e f o r d e l i v e r y c o m e s , i f y o u h a v e n o t
g o t t h e s t o c k y o u m u s t b o r r o w i t , a n d t h a t i s w h a t
m y b r o t h e r d i d , b u t i n t h e m e a n t i m e t h e p e o p l e f r o m
w h o m h e h a d b o r r o w e d s t o c k , a n d w h o w e r e f o r c e d
t o t a k e b a c k t h e s t o c k f r o m h i m a t t h e h i g h e r p r i c e ,
w e r e n o t a b l e t o m e e t t h e i r o b l i g a t i o n s , o w i n g t o t h e
e x c e s s o f i , 5o o , o o o s t o c k w h i c h m y b r o t h e r h a d
s o l d
; i n s t e a d o f t h e A r d o u i n l o a n b e i n g 3, 500, 000,
5, 5o o , o o o
h a d b e e n s o l d , a n d t h i s f l o o d e d t h e m a r k e t
a n d r u i n e d t h e v a l u e o f S p a n i s h p a p e r
. I h a v e h a d
L i o n e l ' s l e t t e r s f r o m M a d r i d c o p i e d t o s e n d t o y o u
;
12 2

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
h e s a y s i n t h e m t h a t A r d o u i n a n d M e n d i z a b a l s e n t
c o u r i e r s t o M a d r i d c o m p l a i n i n g t h a t N a t h a n M e y e r
R o t h s c h i l d w a s s e l l i n g s o a l a r m i n g l y a n d d e p r e s s i n g
t h e s t o c k
. L i o n e l n a t u r a l l y d e n i e d t h i s , a n d h e i s b a c k
f r o m S p a i n n o w , a n d t h e r o b b e r s i n M a d r i d h a v e
h a d t h e i r c r e d i t r u i n e d .
P r i n c e d e T a l l e y r a n d i s s t i l l a l i v e , a n d a s h i s
H i g h n e s s m a y a s c e r t a i n w e h a v e b e e n t o s e e h i m t e n
t i m e s , w h i c h b e t w e e n o u r s e l v e s h a s a l s o c o s t u s a
l i t t l e m o n e y , a n d w e a s k e d h i m t o r e m a i n a f e w d a y s
l o n g e r i n P a r i s s o t h a t t h e K i n g m i g h t a d h e r e t o
h i s r e s o l v e n o t t o i n t e r v e n e . I w o u l d h a v e y o u k n o w
t h a t w e w e r e w i t h B r o g l i e , 10 a n d G u i z o t
11
w a s
t h e r e ; t h e y a r e b o t h a t h e a r t o p p o s e d t o i n t e r v e n t i o n ,
s o w h e n a s k e d f o r o u r s i n c e r e o p i n i o n a s t o w h a t w a s
b e s t , w e r e p l i e d t h a t w e w e r e c o n v i n c e d t h a t F r a n c e ' s
c r e d i t w o u l d g o t o t h e d e v i l i f t h e y i n t e r v e n e d , a n d
t h a t t h e y w o u l d h a v e t o f a c e a s e c o n d a n d a t h i r d
r e v o l u t i o n
. W e h a v e a l s o s e e n t h e K i n g a n d m a d e
h i m f e a r f o r h i s c r o w n , a n d h e t o l d u s t h a t h e w o u l d
r a t h e r t a k e o n M a n g u i n
12
t h a n i n t e r v e n e . T h i e r s
18
i s n o w b i t t e r l y h o s t i l e t o u s ; i t s e e m s t h e K i n g t o l d
h i m w h a t w e h a d s a i d , a s a l s o d i d G u i z o t a n d
B r o g l i e
.
A s r e g a r d s N a t h a n M e y e r R o t h s c h i l d , h e i s a
c h i l d i n p o l i t i c s
. T h e f a c t t h a t , a s y o u w r i t e , h e d i s -
c u s s e d t h e m a t t e r w i t h E s t e r h a z y , i s a n a b s o l u t e
p r o o f t h a t h e b e l i e v e s t h a t t h e P o w e r s w i l l b e p l e a s e d
b y i n t e r v e n t i o n
. T h e r e i s n o o t h e r w a y o f e x p l a i n i n g
i t ; w i t h r e g a r d t o S p a i n i t s e l f I g u a r a n t e e y o u b y t h e
h a p p i n e s s o f m y f a m i l y a n d m y t w o o n l y c h i l d r e n , i f
h e i s h a n d e d c l e a n m o n e y a l l h e n e e d d o i s t o c h a n g e
i t
. H e i s s o d i s g u s t e d h e s a y s h e i s g o i n g o f f a n d w o n ' t
t o u c h S p a i n a g a i n i f t h e m o n e y i s p u t i n h i s h a n d s .
T h i s I a s s u r e y o u . F o r t h e s a k e o f h i s h e a l t h , a n d t o
h a v e a l i t t l e r e s t , h e i s g o i n g t o F r a n k f o r t w h e n h i s
s o n L i o n e l a r r i v e s i n L o n d o n ; h e w i l l t a k e L i o n e l
w i t h h i m f o r
a f e w m o n t h s t o t h e f a m i l y a t F r a n k -
f o r t .
J o s e M a r i a T o r e n o
S p a n i s h F i n a n c e M i n i s t e r
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 12 3
I a m p r e p a r e d t o s w e a r b e f o r e G o d t o t h e t r u t h o f
w h a t I a m w r i t i n g , w h i c h I w a n t y o u t o p a s s o n t o
t h e P r i n c e . I t a k e m y o a t h u p o n i t t h a t i t i s a l l a b s o -
l u t e l y t r u e . H o w e v e r , u n f o r t u n a t e l y t h e R o t h s c h i l d s
h a v e b r o a d b a c k s , a n d t h e r e a r e c o n s t a n t a r t i c l e s i n
t h e p a p e r s . I n o t h e r m a t t e r s t h a t a r e n o t c o n c e r n e d
w i t h t h e B o u r s e , N a t h a n M e y e r R o t h s c h i l d i s n o t
p a r t i c u l a r l y b r i g h t
; h e i s e x c e e d i n g l y c o m p e t e n t i n
h i s o f f i c e , b u t a p a r t f r o m t h a t , b e t w e e n o u r s e l v e s , h e
c a n h a r d l y s p e l l h i s o w n n a m e . T h i s b r o t h e r o f m i n e ,
h o w e v e r , i s s o d i s g u s t e d w i t h S p a i n t h a t h e c a n
h a r d l y b e a r h i m s e l f , j u s t l i k e a l l o f u s , o n l y p e r h a p s
h e f e e l s i t m o r e b e c a u s e h e r e a l i z e s t h a t h e m a d e t h e
a d v a n c e o f i 5, o o o , o o o f r a n c s w i t h o u t a s k i n g a n y o f
h i s p a r t n e r s a b o u t i t
. Y o u c a n t h e r e f o r e c o m m u n i -
c a t e m y w h o l e l e t t e r t o t h e P r i n c e , a s s u r i n g h i m t h a t
t h e r e c a n b e n o t h o u g h t o f g i v i n g t h e S p a n i s h G o v -
e r n m e n t a s i n g l e f a r t h i n g o f c r e d i t .
I m y s e l f d o n o t y e t k n o w w h e n w e b r o t h e r s w i l l
m e e t ; w h e t h e r t h e a f f a i r o f t h e S p a n i s h L o a n w i l l
c a u s e a s p l i t w e s h a l l s e e . I a m 6 o , m y b r o t h e r a t
F r a n k f o r t i s 6 2 ; I h a v e o n l y t w o c h i l d r e n , a n d i f I
l i v e v e r y c a r e f u l l y I c a n l i v e o n t h e i n t e r e s t o f m y
i n t e r e s t ; I h a v e f o r t u n a t e l y o n l y g o t t o p r o v i d e f o r
m y s o n a s m y B e t t i i s a s r i c h a s h e r f a t h e r . " I d o n o t
m e a n t h a t I i n t e n d t o g i v e u p b u s i n e s s , b u t o n l y t o
s e e t o i t t h a t I c a n s l e e p p e a c e f u l l y . T h e S p a n i s h
a f f a i r h a s c o m p l e t e l y r u i n e d m y n e r v e s
; i t i s n o t t h e
l o s s o f m o n e y , f o r e v e n i f t h e w h o l e 15, o o o , o o o
f r a n c s h a d b e e n l o s t , m y s h a r e w o u l d h a v e b e e n o n l y
3, 000, 000, b u t t h e u n p l e a s a n t n e s s w h i c h w e h a v e h a d
w i t h t h i s b u s i n e s s . N o w N a t h a n M e y e r R o t h s c h i l d
h a s f o u r g r o w n - u p s o n s , a n d C a r l h a s t w o y o u n g e r
b o y s , s o t h e y m a n a g e o n t h e b a s i s o f a d o z e n h e a d s
.
B e c a u s e m y f a t h e r h a s s o d i s p o s e d w e s h a l l p r o b -
a b l y h a v e t o r e m a i n t o g e t h e r , b u t I m u s t c o n f e s s t h a t
i t h a s a l l v e r y m u c h t i r e d a n d e x h a u s t e d
Y o u r
S . M . v . R O T H S C H I L D .
12 4

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
I h a v e s e n t y o u r l e t t e r o f 15t h t o L o n d o n a s J a m e s
i s i n L o n d o n j u s t n o w t o d e a l w i t h a c c o u n t s . I m u s t
b e g y o u t o s h o w t h e l e t t e r o n l y t o t h e P r i n c e , a s w e
a n d N . M . R . ( N a t h a n ) a r e g e t t i n g a n o n y m o u s l e t -
t e r s t h r e a t e n i n g o u r l i v e s f o r h a v i n g s o m u c h d e -
p r e s s e d t h e S p a n i s h B o n d s , a n d I a m a f r a i d t o g o
o u t a t n i g h t .
T h i s l e t t e r w a s c h a r a c t e r i s t i c i n m o r e t h a n o n e r e s p e c t
;
i t s h o w s t h a t t h e S p a n i s h a f f a i r d i d r e a l l y t r o u b l e S o l o -
m o n e x c e e d i n g l y , a n d t h a t t h e f a l s e p o s i t i o n i t p l a c e d h i m
i n . w i t h r e g a r d t o M e t t e r n i c h w a s s o p a i n f u l t o h i m t h a t
h e h a d e v e n t h o u g h t f o r a m o m e n t o f s e p a r a t i n g f r o m
h i s b r o t h e r s a n d w i t h d r a w i n g f r o m b u s i n e s s . I t i s e v i -
d e n c e o f t h e c o n f l i c t o f c o n s c i e n c e f r o m w h i c h S o l o m o n
w a s s u f f e r i n g , a n d o f t h e d e v e l o p m e n t o f a c r i s i s i n h i s
r e l a t i o n s t o h i s b r o t h e r s i n t h e w e s t . T h i s w a s , h o w e v e r ,
o n l y a p a s s i n g m o v e . F u n d a m e n t a l l y t h e m a x i m l a i d
d o w n b y t h e o l d f a t h e r M e y e r A m s c h e l s t i l l h e l d - " A l l
t h e b r o t h e r s s h a l l s t a n d t o g e t h e r i n e v e r y t h i n g ; a l l s h a l l
b e r e s p o n s i b l e f o r t h e a c t i o n s o f e a c h o n e " - a n d t h e d e s i r e
f o r p r o f i t a n d c o n s t a n t l y i n c r e a s e d p o w e r f o r t h e H o u s e
w a s g r e a t e r t h a n a n y m i s g i v i n g s o r a n y c o n s i d e r a t i o n f o r
M e t t e r n i c h . S o l o m o n r e m e m b e r e d P s a l m 133 : " B e h o l d ,
h o w g o o d a n d h o w p l e a s a n t i t i s f o r b r e t h r e n t o d w e l l
t o g e t h e r i n u n i t y l . . . f o r t h e r e t h e L o r d c o m m a n d e d
t h e b l e s s i n g , e v e n l i f e f o r e v e r m o r e . "
W h i l e t h e R o t h s c h i l d s h a d a t f i r s t b e e n d i s a p p o i n t e d
i n S p a i n , t h e y h a d s u c c e e d e d i n t h e i r p r i n c i p a l o b j e c t ,
t h e a c q u i s i t i o n o f t h e q u i c k s i l v e r m i n e s , a n d t h e l o a n
a f f a i r w i t h T o r e n o h a d b e e n d e a l t w i t h a d e q u a t e l y . B y
t h e i r b e a r o p e r a t i o n s i n S p a n i s h s e c u r i t i e s t h e y n o t m e r e l y .
h a d r e c o v e r e d t h e a m o u n t s p e n t i n b r i b i n g T o r e n o b u t
h a d m a d e a p r o f i t b e s i d e s . T h e f i n a l r e s u l t t h e r e f o r e h a d
b e e n , a s S o l o m o n h i m s e l f h a d t o a d m i t , t h a t h i s m u c h
a b u s e d b r o t h e r N a t h a n h a d a c h i e v e d a f i n a n c i a l g a i n t o
t h e g e n e r a l b e n e f i t o f t h e H o u s e o f R o t h s c h i l d .
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
12 5
.
S o f a r , s o g o o d ; b u t S o l o m o n w a n t e d t o a s c e r t a i n w h o
h a d s p r e a d t h e r u m o r s w h i c h h a d m a d e s u c h a n i m p r e s -
s i o n o n t h e i m p e r i a l c o u r t o f V i e n n a , o r r a t h e r o n M e t t e r -
n i c h . I t d i d n o t t a k e h i m l o n g t o f i n d o u t , f o r h e h a d h i s
c o n f i d e n t i a l a g e n t s e v e r y w h e r e ; e s p e c i a l l y h e h a d f r i e n d s
w h o s e i n t e r e s t i t w a s i m m e d i a t e l y t o b r i n g i n a n y n e w s
t h a t m i g h t b e o f v a l u e . P r o m i n e n t a m o n g t h e m i s c h i e f -
m a k e r s w a s C o u n t C a r l P o z z o d i B o r g o , t h e o l d b i t t e r
e n e m y o f N a p o l e o n , w h o m h e h a d h a t e d s i n c e t h e y w e r e
b o y s t o g e t h e r i n C o r s i c a
. T h e c o u n t , w h o w a s s e v e n t y
y e a r s o f a g e , w a s a t t h a t p e r i o d R u s s i a n a m b a s s a d o r i n
L o n d o n . N o t o r i o u s l y a v a r i c i o u s , t h i s s e v e n t y - y e a r - o l d
d i p l o m a t i s t h a d a m a s s e d a l a r g e f o r t u n e i n t h e c o u r s e o f
h i s c a r e e r , b u t h i s d e s i r e f o r m o n e y w a s i n s a t i a b l e . H e
h a d b e e n c o n n e c t e d w i t h t h e R o t h s c h i l d s w h e n t h e y h a d
b e e n e n g a g e d i n t h e i s s u e o f t h e A u s t r i a n M e t a l l i q u e s .
T w o d a y s a f t e r h e h a d s e n t t h e a b o v e l e t t e r t o V i e n n a ,
S o l o m o n r e c e i v e d a d e t a i l e d l e t t e r f r o m h i s b r o t h e r
N a t h a n , p u t t i n g h i m i n f u l l p o s s e s s i o n o f t h e f a c t s r e -
g a r d i n g t h e p a r t w h i c h P o z z o h a d p l a y e d . H e a t o n c e
t o o k t h e l e t t e r t o C o u n t A p p o n y i , a n d w r o t e a n o t h e r
l e t t e r t o W e r t h e i m s t e i n i n H e b r e w .
P a r i s , 2 6 t h J u n e , 2
8 35 .
I e n c l o s e a c o p y o f a l e t t e r f r o m L o n d o n , t h e o r i g i -
n a l o f w h i c h I s h o w e d t o C o u n t A p p o n y i , r e q u e s t i n g
h i m t o w r i t e t o V i e n n a c o n f i r m i n g t h e f a c t t h a t h e
h a d s e e n t h e o r i g i n a l h e r e . Y o u s e e t h a t P o z z o i s t h e
s o u r c e o f a l l t h e s e s l a n d e r s . I m a y b e p e r m i t t e d t o
e x p l a i n t o m y r e a l f r i e n d s t h e o r i g i n o f P o z z o ' s d e e p
a n d b i t t e r h a t r e d o f t h e H o u s e o f R o t h s c h i l d
. Y o u
w i l l r e m e m b e r t h a t i n c o n n e c t i o n w i t h t h e M e t a l -
l i q u e s L o a n , w h i c h i m m e d i a t e l y r o s e t o a p r e m i u m
o f f i v e , a n d t h e n o f t e n p e r c e n t , m y b r o t h e r J a m e s
w r o t e t o m e a t V i e n n a s t a t i n g t h a t P o z z o w a n t e d t o
b e g i v e n i , o o o , o o o g u l d e n a t t h e i s s u e p r i c e . J a m e s
a d d e d h i m s e l f t h a t h e w a s c o u n t i n g o n P o z z o g e t t i n g
a t l e a s t h a l f a m i l l i o n . Y o u w i l l r e m e m b e r t h a t I h a d
12 6

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
v e r y f e w M e t a l l i q u e s l e f t , a n d w h y s h o u l d I m a k e
a p r e s e n t t o P o z z o o f f o r t y t o f i f t y t h o u s a n d f l o r i n s ,
t o P o z z o , o n e o f t h e w o r l d ' s w o r s t m i s e r s , w h o h a s
h a d s o m a n y p r o f i t a b l e d e a l i n g s i n r e n t e s w i t h o u r
f i r m ?
P o z z o ' s s u g g e s t i o n w a s a c c o r d i n g l y r e f u s e d , J a m e s
t e l l i n g h i m t h a t u n f o r t u n a t e l y I h a d n o n e . H e h a s
s i n c e b e e n o u r b i t t e r e s t e n e m y , a n d m a k e s a p r o f i t -
a b l e b u s i n e s s o f d a m a g i n g u s . I g o t m y b r o t h e r
J a m e s t o g o t o L o n d o n t o g e t a l l t h e s e a c c o u n t s
c l e a r e d u p ; t h e r e u p o n P o z z o s p r i n g s t h e y a r n t h a t
J a m e s w e n t t o L o n d o n t o p a y t h e r u f f i a n s w h o w e r e
g o i n g f r o m t h e r e t o S p a i n . I n t h e e n c l o s e d c o p y o f a
l e t t e r f r o m N a t h a n r e g a r d i n g p a r t o f t h e a c c o u n t ,
t h e o r i g i n a l o f w h i c h h a s a l s o b e e n s e e n b y A p p o n y i ,
y o u w i l l f i n d a n i t e m o f a b o u t i , 6 o o , o o o , o f w h i c h w e
h a d t o a l l o w T o r e n o a n d h i s g a n g t o r o b u s i n o r d e r
t o r e c o v e r o u r m o n e y . I a m a l s o s e n d i n g y o u a
M a d r i d n e w s p a p e r , w h i c h c o n t a i n s p r o o f t h a t w e
w e r e a g a i n s t t h e i n t e r v e n t i o n , a s w e l l a s a n e x t r a c t
f r o m L i o n e l ' s l e t t e r , w h i c h t h e C o u n t h a s a l s o r e a d .
I t i s n o t i n t e r e s t e d m o t i v e s t h a t l e a d m e t o m a k e
s u c h e f f o r t s t o c l e a r m y s e l f o f s u s p i c i o n i n t h e e y e s
o f t h e A u s t r i a n C a b i n e t . N o , a s G o d i s m y w i t n e s s ,
I a m a c t u a t e d b y l o v e , r e s p e c t , a n d d e v o t i o n . W e r e I
d e a l i n g o n l y w i t h t h a t m i s e r P o z z o , w h o , b e c a u s e
h e d i d n o t g e t h i s 500, 000 f l o r i n s , h a s b e c o m e o u r
d e a d l y e n e m y , h e w o u l d s e e h o w l i t t l e h i s l i e s w o r r y
m e .
S o l o m o n ' s i n t e n t i o n w a s t h a t a l l h i s r e m a r k s s h o u l d b e
d u l y c o n v e y e d t o M e t t e r n i c h s o a s t o r e e s t a b l i s h h i m s e l f
i n M e t t e r n i c h ' s g o o d g r a c e s , e v e n i f h e d i d s o a t t h e
e x p e n s e o f h i s b r o t h e r N a t h a n . N a t h a n w a s f a r a w a y
a n d o u t s i d e M e t t e r n i c h ' s r a n g e .
M e a n w h i l e t h e p o s i t i o n i n S p a i n h a d u n d e r g o n e a
p r o f o u n d c h a n g e , a n d t h i s w a s a t t r i b u t a b l e i n n o s m a l l
d e g r e e t o t h e i n f l u e n c e o f t h e R o t h s c h i l d s . H i s o v e r -
w h e l m i n g f i n a n c i a l d i f f i c u l t i e s a n d t h e v i c i s s i t u d e s o f t h e
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 12 7
c a m p a i g n a g a i n s t D o n C a r l o s h a d f o r c e d C o u n t T o r e n o
t o r e s i g n i n f a v o r o f M e n d i z a b a l , w h o s u c c e e d e d h i m .
T h i s m a n , w h o w a s a J e w b y r a c e a n d r e l i g i o n , h a d
p a s s e d a n a d v e n t u r o u s l i f e . H a v i n g a h i g h l y d e v e l o p e d
f i n a n c i a l s e n s e , h e h a d b e e n a n a r m y c o n t r a c t o r e a r l y i n
h i s c a r e e r , a n d h a d t h e n e n t e r e d t h e s e r v i c e o f t h e r i c h
M a d r i d b a n k e r D o n V i c e n t e B e r t r a n d d e L y s , w h o , a s
w e k n o w , c a m e t o b e c l o s e l y c o n n e c t e d w i t h t h e H o u s e
o f R o t h s c h i l d . I t w a s t h r o u g h h i m t h a t t h e R o t h s c h i l d s
m a d e t h e a c q u a i n t a n c e o f M e n d i z a b a l . M e n d i z a b a l s u c -
c e e d e d i n i n g r a t i a t i n g h i m s e l f w i t h D o n P e d r o o f P o r -
t u g a l , t o w h o m h e w a s a b l e t o r e n d e r i m p o r t a n t f i n a n c i a l
s e r v i c e s . I n t h e s e t r a n s a c t i o n s M e n d i z a b a l w o r k e d i n
c l o s e a l l i a n c e w i t h t h e H o u s e o f R o t h s c h i l d , w h i c h a r -
r a n g e d a l o a n o f 2 , 000, 000 t o P o r t u g a l i n A p r i l , 1
8 35 .
L a t e r o n p o l i t i c a l r e a s o n s c o m p e l l e d M e n d i z a b a l t o e m i -
g r a t e t o L o n d o n , w h e r e t h r o u g h N a t h a n R o t h s c h i l d h e
w a s b r o u g h t i n t o t o u c h w i t h m e m b e r s o f t h e B r i t i s h
g o v e r n m e n t . H e a l s o s p e c u l a t e d o n h i s o w n a c c o u n t i n
S p a n i s h s e c u r i t i e s a n d m a d e a g r e a t d e a l o f m o n e y .
H e s t i l l h a d l a r g e h o l d i n g s i n t h e s e s e c u r i t i e s w h e n t h e
R o t h s c h i l d s d e c i d e d t o b r i n g a b o u t t h e g r e a t S p a n i s h
s l u m p . M e n d i z a b a l w o u l d h a v e b e e n r u i n e d h a d n o t
N a t h a n g i v e n h i m p r e v i o u s w a r n i n g o f w h a t w a s g o i n g
t o h a p p e n . N o w t h i s v e r y m a n w a s p r i m e m i n i s t e r i n
S p a i n , a h i g h l y s a t i s f a c t o r y c i r c u m s t a n c e f o r t h e R o t h s -
c h i l d s , e s p e c i a l l y a s J a m e s , a s w e l l a s N a t h a n , w a s o n
t h e m o s t f r i e n d l y a n d p e r s o n a l t e r m s w i t h t h e n e w m i n -
i s t e r
. T h e f i n a n c i a l s i t u a t i o n i n S p a i n w a s c e r t a i n l y e x -
t r e m e l y b a d , a n d t h e c o n t i n u i n g m i l i t a r y o p e r a t i o n s
a g a i n s t t h e C a r l i s t s m a d e i t n e c e s s a r y t o g o o n r a i s i n g
m o n e y . M e n d i z a b a l m a d e g e n e r o u s p r o m i s e s o n t a k i n g
o f f i c e , a n d s u b s t a n t i a l l y i n c r e a s e d t h e p u b l i c d e b t , i n t h e
e f f o r t t o c a r r y t h e m o u t . H e w a s g e n e r a l l y r e g a r d e d a s
t h e a g e n t o f t h e m o s t i m p o r t a n t b a n k e r s i n L o n d o n .
T h e D u k e o f W e l l i n g t o n , w h o v i e w e d w i t h d i s s a t i s -
f a c t i o n t h e f a c t t h a t t h e L i b e r a l E n g l i s h c a b i n e t s u p -
12 8

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
p o r t e d t h e a p p o i n t m e n t o f M e n d i z a b a l , w e n t a s f a r a s
t o s a y ' t h a t h e r e g a r d e d t h e m a n a s n o t h i n g m o r e t h a n
a t o o l o f H e r r v o n R o t h s c h i l d , w h o s e d u t y i t w a s t o f u r -
t h e r t h e i n t e r e s t s o f t h e s p e c u l a t o r s i n S p a n i s h s e c u r i t i e s .
I n t h i s m a t t e r W e l l i n g t o n w a s o f e x a c t l y t h e s a m e m i n d
a s H e r r v o n H u m m e l a u e r , b e c a u s e i n t h e S p a n i s h a f f a i r
N a t h a n h a d s u p p o r t e d t h e p o l i t i c a l o p p o n e n t s o f t h e
a g e d f i e l d - m a r s h a l
.
" I s h e s t i l l y o u r c o n s u l ? " W e l l i n g t o n a s k e d H u m -
m e l a u e r i n 18 36 .
" Y e s , " r e p l i e d H u m m e l a u e r , " b u t f o r m a n y y e a r s a l l
p e r s o n a l c o n t a c t b e t w e e n m e a n d H e r r v o n R o t h s c h i l d
h a s c e a s e d , s o t h a t r e l a t i o n s b e t w e e n h i m a n d t h e e m b a s s y
a r e n o w e n t i r e l y s u s p e n d e d
. "
i s
M e n d i z a b a l ' s g o v e r n m e n t , h o w e v e r , s a t i s f i e d n e i t h e r
t h e S p a i n o f t h e q u e e n r e g e n t n o r t h e R o t h s c h i l d s . H e
k e p t o n p i l i n g u p t h e d e b t , a n d i n c r e a s e d t h e d e f i c i t t o a n
e n o r m o u s e x t e n t .
I t w a s a l l v e r y w e l l f o r t h e R o t h s c h i l d s t o t e l l e v e r y o n e
t h a t t h e y w e r e h a v i n g n o t h i n g m o r e t o d o w i t h S p a i n .
T h a t w a s n o t t h e c a s e a s l o n g a s t h e y w e r e i n p o s s e s s i o n o f
t h e r i c h q u i c k s i l v e r m i n e s , a n d t o t h a t e x t e n t d e p e n d e n t
u p o n M a d r i d . N a t h a n d i d n o t w i s h t o e n d a n g e r t h e s u c -
c e s s o f o n e o f h i s m o s t d a r i n g b u s i n e s s s t r o k e s t h r o u g h
e x c e s s i v e h a r s h n e s s i n d e a l i n g w i t h h i s f r i e n d M e n d i z a -
b a l ' s c o n s t a n t a p p l i c a t i o n s f o r l o a n s . H i s b r o t h e r s , h o w -
e v e r , t o o k a d i f f e r e n t a t t i t u d e a s t h e y w e r e d e p e n d e n t
u p o n M e t t e r n i c h , L o u i s P h i l i p p e , a n d o t h e r p o w e r f u l
p e r s o n s .
T o w a r d t h e e n d o f 18 35 t h e S p a n i s h q u e e n ' s g o v e r n -
m e n t a p p r o a c h e d E n g l a n d f o r a l o a n , a n d E n g l a n d s u g -
g e s t e d t o F r a n c e t h a t t h e y s h o u l d j o i n t l y g u a r a n t e e
2 , -
o o o , o o o
. N a t h a n w a s a s k e d t o t a k e a p a r t i n t h i s l o a n .
H e s a w t h a t b y d o i n g s o h e w o u l d w i n f a v o r a t M a d r i d ,
w h i l e t h e g u a r a n t y o f t h e t w o P o w e r s m a d e t h e l o a n
a p e r f e c t l y s a f e o n e ; b u t i n v i e w o f t h e g r e a t d i s s a t i s -
f a c t i o n t h a t h a d b e e n c a u s e d b y t h e p r e v i o u s l o a n i s s u e d
T h e R o t h s c h i l d s a n d t h e S p a n i s h ' T h r o n e
12 9
b e h i n d M e t t e r n i c h ' s b a c k h e d e c i d e d o n t h i s o c c a s i o n t o
p u t h i s c a r d s o n t h e t a b l e a s f a r a s h i s b r o t h e r s a n d M e t -
t e r n i c h w e r e c o n c e r n e d .
" I n
v i e w o f a s t a t e m e n t t h a t h a s b e e n m a d e t o m e b y
o n e o f o u r m o s t i n t i m a t e f r i e n d s i n t h e C a b i n e t , " h e w r o t e
t o h i s b r o t h e r J a m e s i n P a r i s o n D e c e m b e r
2 0,
18 35,
17
" I a m h a s t e n i n g t o s e n d y o u t h i s e x p r e s s l e t t e r t o i n f o r m
y o u t h a t o u r G o v e r n m e n t h a s p r o p o s e d t o F r a n c e t h a t
s h e s h o u l d j o i n i n g u a r a n t e e i n g a l o a n t o S p a i n o f t w o
m i l l i o n p o u n d s s t e r l i n g
.
" O u r G o v e r n m e n t ' s p r o p o s a l i s f o r
a
j o i n t g u a r a n t y ,
a n d t h e y h a v e s o f a r h a d n o r e p l y f r o m t h e F r e n c h C a b i -
n e t
. I f F r a n c e w i l l n o t a g r e e t o t h e p r o p o s a l i t i s h i g h l y
p r o b a b l e t h a t E n g l a n d w i l l g i v e h e r g u a r a n t y a l o n e , i f
n o t f o r t h e w h o l e a m o u n t a t a n y r a t e f o r a p a r t
.
" U n d e r s u c h a n a r r a n g e m e n t , m y d e a r b r o t h e r , w e
s h o u l d b e r u n n i n g n o r i s k a t a l l i n m y o p i n i o n , f o r i f
F r a n c e a n d E n g l a n d g i v e t h e i r g u a r a n t y i t w i l l b e l i k e
t h e ` G r e e k L o a n . ' . . .
P l e a s e f o r w a r d t h i s l e t t e r a t o n c e
t o o u r b r o t h e r S o l o m o n a t V i e n n a a s I a m v e r y a n x i o u s
t o k n o w w h a t U n c l e t h i n k s o f t h i s m a t t e r
. "
B y " U n c l e " h e m e a n t M e t t e r n i c h
. I t i s i n t e r e s t i n g t o
n o t e t h a t N a t h a n w a s k e p t i n f o r m e d b y h i s " m o s t i n t i -
m a t e f r i e n d i n t h e B r i t i s h C a b i n e t
. " H e w a s c e r t a i n l y u s e -
f u l f o r s u c h b u s i n e s s .
I t w a s d i f f i c u l t f o r S o l o m o n a t V i e n n a t o p e r s u a d e M e t -
t e r n i c h t o a c q u i e s c e a g a i n i n t h e p l a n o f g r a n t i n g a l o a n
t o t h e e n e m y o f h i s p r o t e g e D o n C a r l o s , a l o a n w h i c h
i n a n y c a s e w a s b o u n d t o b e f r u i t l e s s
. F o r M e t t e r n i c h
w o u l d n o t c h a n g e h i s o p i n i o n , e s p e c i a l l y i n a m a t t e r i n -
v o l v i n g t h e f u n d a m e n t a l p r i n c i p l e s u p o n w h i c h h i s p o l i c y
w a s b a s e d
. S o l o m o n r e p r e s e n t e d t h e m a t t e r a s t h o u g h
N a t h a n w i s h e d t o a s c e r t a i n M e t t e r n i c h ' s o p i n i o n , b u t h e
s e n t h i m t h e e x t r a c t f r o m t h e l e t t e r w h i c h h a s b e e n g i v e n
a b o v e
. T h e r e s u l t w a s , a s m i g h t h a v e b e e n e x p e c t e d , o n e
o f t h e c h a n c e l l o r ' s t y p i c a l l e c t u r i n g t i r a d e s
. H e w r o t e a s
f o l l o w s i n a p r i v a t e l e t t e r t o S o l o m o n R o t h s c h i l d
: 18
130

T h e R e i g n o f
t h e H o u s e o f R o t h s c h i l d
V i e n n a ,
2 9 D e c e m b e r , 18 35
.
I h a v e c o n s i d e r e d t h e l e t t e r w h i c h y o u h a v e s e n t
m e w i t h t h e a t t e n t i o n w h i c h t h e s u b j e c t o b v i o u s l y d e -
s e r v e s . Y o u k n o w m e w e l l e n o u g h t o h a v e l e a r n e d
t h a t I n e v e r e n g a g e i n s p e c u l a t i v e t r a n s a c t i o n s , a n d i t
i s t h e r e f o r e u n n e c e s s a r y f o r m e t o t a k e c o g n i z a n c e
o f t h e m . T h i s c a s e r a i s e s o t h e r c o n s i d e r a t i o n s ; a n d
y o u r b r o t h e r N a t h a n M . d e s i r e s t o k n o w m y v i e w s .
T h e s e I s h a l l e x p r e s s w i t h o u t b e a t i n g a b o u t t h e b u s h
a s a n h o n o r a b l e m a n w h o i s w e l l d i s p o s e d t o y o u r
H o u s e s h o u l d . T h e b u s i n e s s u n d e r d i s c u s s i o n h a s t w o
s i d e s , a f i n a n c i a l a n d a m o r a l o n e . T h e f i r s t i s n o c o n -
c e r n o f m i n e . A l o a n g u a r a n t e e d b y t w o s e a P o w e r s
i s u n d o u b t e d l y a s a f e f i n a n c i a l t r a n s a c t i o n . Y o u w i l l
a p p r e c i a t e t h i s b e t t e r t h a n I c a n . I f y o u r b r o t h e r
w i s h e s t o m a k e m o n e y , t h i s i s a n o p p o r t u n i t y f o r
d o i n g s o . F r o m e v e r y m o r a l p o i n t o f v i e w I c o n -
s i d e r t h e b u s i n e s s t o b e o n e o f t h e m o s t d a m n a b l e , a s
I s h a l l h a v e n o d i f f i c u l t y i n s h o w i n g .
A l t h o u g h n e i t h e r I n o r a n y b o d y e l s e , w h o h a s h a d
e x p e r i e n c e o f p u b l i c a f f a i r s , w o u l d v e n t u r e t o p r o p h -
e s y t h e f i n a l o u t c o m e o f t h e S p a n i s h R e v o l u t i o n ,
t h e o u t c o m e o n a n o t h e r f i e l d i s p a i n f u l l y o b v i o u s - I
m e a n t h e i n e v i t a b i l i t y o f S p a n i s h b a n k r u p t c y . W h a t -
e v e r m a y h a p p e n i n t h a t u n f o r t u n a t e c o u n t r y , i t s
p u b l i c d e b t c a n n o t b e m e t , a n d a n y t h i n g t h a t i s d o n e
i n E n g l a n d n o w w i t h r e f e r e n c e t o t h e P e n i n s u l a i s
s i m p l y
p u t t i n g o f t h e e v i l d a y , a n d a l s o m a k i n g t h e
u l t i m a t e d i s a s t e r m o r e e x t e n s i v e . A n d w h o a r e t h e
p e o p l e w h o w i l l b e h i t ? T h e y a r e u n f o r t u n a t e f a t h e r s
o f f a m i l i e s , s m a l l c a p i t a l i s t s , t h e v a l u e o f w h o s e
S p a n i s h s e c u r i t i e s w i l l d w i n d l e a w a y t o n o t h i n g
; a n d
i n o r d e r t o p u t o f f t h e e v i l d a y , r i v e r s o f b l o o d a r e
b e i n g p o u r e d o u t i n S p a i n , w h i l e a t t h e h e a d o f t h e
s o - c a l l e d A d m i n i s t r a t i o n - f o r i t a d m i n i s t e r s n o t h -
i n g - i s a n a g e n t o f t h e B r i t i s h S t o c k E x c h a n g e , a n d
t h e c o u n t r y i s b e i n g s y s t e m a t i c a l l y r o b b e d o f a l l t h e
r e s o u r c e s w h i c h m i g h t h a v e i m p r o v e d i t s f u t u r e l
S u c h o p e r a t i o n s m a y b r i n g b l o o d m o n e y , b u t s u c h
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
131
m o n e y b r i n g s n o h a p p i n e s s I T h e l o a n i n q u e s t i o n c a n
s e r v e n o o t h e r p u r p o s e t h a n t o m e e t o b l i g a t i o n s d u e
i n L o n d o n f o r o n e t e r m ; S p a i n w i l l r e c e i v e n o t o n e
f a r t h i n g o f t h e m o n e y . A l l t h a t S p a i n c a n h o p e f r o m
t h e s c h e m e i s a n e x t e n s i o n o f t h e d e c e p t i v e a p p e a r -
a n c e o f t h e r e s t i l l b e i n g r e s o u r c e s w h e r e t h e r e a r e n o
r e a l r e s o u r c e s a t a l l , a n d t h i s d e c e p t i o n w i l l c o s t m u c h
b l o o d . I a m s p e a k i n g n o w o f t h e n a t i o n a l . b a n k r u p t c y
w h i c h G o d H i m s e l f c o u l d n o t p r e v e n t .
I f y o u r h o n o r a b l e H o u s e w e r e t o t a k e o v e r t h e
b u s i n e s s i t w o u l d e a r n t h e c u r s e s o f t h o s e w h o w i l l
e v e n t u a l l y b e o v e r w h e l m e d i n b a n k r u p t c y . A H o u s e
w h i c h h a s w o n i t s p o s i t i o n b y v e r y d i f f e r e n t m e t h o d s
f r o m t h e s e s h o u l d n o t b e a p a r t y t o s u c h a s c h e m e .
N a t h a n M e y e r m a y s a y t h a t s u c h c o n s i d e r a t i o n s
c a n n o t a f f e c t a b u s i n e s s d e c i s i o n ; t h i s m a y b e t r u e
w h e r e s u c h d e c i s i o n s a r e a d m i t t e d l y u n i n f l u e n c e d b y
a n y . m o r a l c o n s i d e r a t i o n s w h a t e v e r
. I a m n o t t h a t
t y p e o f m a n , a n d I a m s u r e t h a t , o n r e f l e c t i o n , N a t h a n
M e y e r w i l l f e e l t h a t n e i t h e r i s h e . H o w e v e r , h e
w i s h e d t o k n o w m y o p i n i o n , a n d t h i s I f r a n k l y e x -
p r e s s i n t h e w a y w i t h w h i c h y o u a r e f a m i l i a r .
M e t t e r n i c h ' s h i g h m o r a l i z i n g m a d e b u t l i t t l e i m p r e s -
s i o n o n t h e m e m b e r s o f t h e R o t h s c h i l d f a m i l y o t h e r t h a n
S o l o m o n . T h e y k n e w p e r f e c t l y w e l l t h a t t h e i m p e r i a l
g o v e r n m e n t h a d b a c k e d t h e a b s o l u t i s t D o n C a r l o s , a n d
t h a t i t w a s o n i t s s i d e g i v i n g h i m v e r y c o n s i d e r a b l e f i n a n -
c i a l s u p p o r t . I t w a s a s y e t b y n o m e a n s e v i d e n t t h a t D o n
C a r l o s w o u l d n o t t r i u m p h i n t h e e n d . I f h e h a d o n l y
b e e n s o m e w h a t m o r e e n e r g e t i c a n d d e c i s i v e h e m i g h t o n
t h r e e o c c a s i o n s e a s i l y h a v e s u c c e e d e d i n b e c o m i n g m a s t e r
o f S p a i n . B u t e v e n i f h e w e r e t o s u c c e e d , h o w c o u l d o n e
l o s e w i t h t h e g u a r a n t y o f F r a n c e a n d E n g l a n d ? I f t h i n g s
w e n t w r o n g , w e l l , t h o s e t w o s t a t e s w o u l d s u f f e r .
S o l o m o n a t V i e n n a c o u l d a l w a y s t a k e r e f u g e i n t h e f a c t
t h a t h e h a d l o y a l l y t o l d M e t t e r n i c h e v e r y t h i n g , p o i n t i n g
t o t h e d i f f i c u l t y o f o p p o s i n g t h e m a j o r i t y o f h i s b r o t h e r s ,
132

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
I n a n y c a s e h e l e t t h e m c a r r y o n w i t h t h e i r p r o f i t a b l e
t r a n s a c t i o n s . A t l e a s t s u c h w a s t h e v i e w o f H e r r v o n
H u m m e l a u e r , t h e e n e m y o f t h e R o t h s c h i l d s a t t h e A u s -
t r i a n e m b a s s y i n L o n d o n . H e w a s c o n s t a n t l y s e n d i n g h o s -
t i l e r e p o r t s a b o u t t h e R o t h s c h i l d s t o V i e n n a r e g a r d i n g
t h e i r S p a n i s h t r a n s a c t i o n s , a n d k e e p i n g e v e r y b o d y i n a
s t a t e o f a l a r m . T h u s h e r e p o r t e d o n A p r i l 15, 18 36 , t h a t
t h e H o u s e o f R o t h s c h i l d w a s n e g o t i a t i n g w i t h t h e g o v -
e r n m e n t o f t h e q u e e n r e g e n t w i t h r e g a r d t o l o a n s , t h e
p a y m e n t o f i n t e r e s t o n o l d l o a n s , e t c
. , t h a t i t w a s p l a n n i n g
a l l k i n d s o f i n t r i g u e s , a n d m o r e e s p e c i a l l y h a d l a t e l y
e n d e a v o r e d t o f r u s t r a t e t h e b a n k e r O u v r a r d ' s e f f o r t s t o
a r r a n g e a l o a n f o r D o n C a r l o s
. 19
M e t t e r n i c h i m m e d i a t e l y a s k e d S o l o m o n R o t h s c h i l d ,
w h o h a d r e t u r n e d t o V i e n n a , t o c o m e a n d s e e h i m , a n d
t a x e d h i m w i t h v o n H u m m e l a u e r ' s a c c u s a t i o n . T h e r e -
u p o n f a t h e r a n d s o n p u t i n a d e t a i l e d m e m o r a n d u m r e -
g a r d i n g t h e f i n a n c i a l a r r a n g e m e n t s o f t h e i r H o u s e w i t h
S p a i n
.
T h e y d e s c r i b e d M e t t e r n i c h ' s i n f o r m a t i o n a s f a l s e ,
a n d a s o b v i o u s l y e m a n a t i n g f r o m a n u n r e l i a b l e s o u r c e .
I t w a s t r u e t h a t M e n d i z a b a l h a d s u g g e s t e d t h e H o u s e o f
R o t h s c h i l d s h o u l d g r a n t f u r t h e r a d v a n c e s t o a n a m o u n t
o f 2 00, 000 t o 2 50, 000 o n t h e s e c u r i t y o f t h e r o y a l t i e s
o f t h e q u i c k s i l v e r m i n e s , a n d a s i m i l a r a m o u n t o n t h e
s e c u r i t y o f S p a n i s h r e n t e s
. T h e H o u s e o f R o t h s c h i l d h a d ,
h o w e v e r , r e f u s e d t o d o s o , a l t h o u g h t h e m i n e s i n t h e s o u t h
o f t h e c o u n t r y w e r e f a r f r o m t h e s c e n e o f a c t i o n i n t h e
c i v i l w a r , a n d t h e r e f o r e o f f e r e d a d e q u a t e s e c u r i t y f o r
r e p a y m e n t . I n s p i t e o f e v e r y t h i n g t h i s a t t r a c t i v e s u g g e s -
t i o n h a d b e e n t u r n e d d o w n
.
M e t t e r n i c h s h o u l d h a v e c o n f i d e n c e i n S o l o m o n ' s c h a r -
a c t e r a n d w o r d , f o r a n y o n e f a m i l i a r w i t h t h e m e t h o d s
o f t h e H o u s e o f R o t h s c h i l d , a n d w h o h a d o c c a s i o n t o
o b s e r v e t h e p r i n c i p l e s w h i c h h a d f o r s o m e t i m e g o v e r n e d
t h e i r t r a n s a c t i o n s , w o u l d i n e v i t a b l y c o m e t o t h e c o n c l u -
s i o n t h a t t h e y h a d n o i n t e n t i o n o f e x t e n d i n g t h e r a n g e
T h e R o t h s c h i l d s a n d t h e S ' p a n ' i s h T h r o n e
133
o f t h e i r o p e r a t i o n s , b u t r a t h e r w i s h e d g r a d u a l l y t o n a r -
r o w t h e i r s c o p e , a n d a b o v e a l l t o h o l d a l o o f f r o m s u c h
v e n t u r e s o m e o p e r a t i o n s a s c o u l d o n l y r e s u l t i n u n p l e a s -
a n t n e s s a n d b a d b l o o d . T h u s t h e L o n d o n b r a n c h o f t h e
H o u s e o f R o t h s c h i l d h a d k e p t e n t i r e l y a l o o f f r o m i n d u s -
t r i a l u n d e r t a k i n g s s u c h a s c a n a l s a n d r a i l w a y s , w h i c h i n
E n g l a n d , m o r e t h a n a n y w h e r e e l s e , h a d b e e n t h e s u b j e c t
o f t h e m o s t u n r e s t r a i n e d s p e c u l a t i o n . N o s e n s i b l e m a n
t h e r e f o r e c o u l d s e r i o u s l y b e l i e v e t h a t t h e H o u s e o f R o t h s -
c h i l d w o u l d i n v e s t a l a r g e p o r t i o n o f i t s w e a l t h i n s t o c k s
w h i c h i n t h e v i e w o f e v e n t h e m o s t z e a l o u s p a r t i z a n s o f
I s a b e l l a o f f e r e d o n l y a h i g h l y p r e c a r i o u s s e c u r i t y , a n d
r e s t e d o n n o s o l i d f o u n d a t i o n .
T h e p o s i t i o n o f t h e H o u s e o f R o t h s c h i l d w a s s u c h t h a t
i t c o u l d n o t a b s o l u t e l y s t a n d a p a r t f r o m a l l t r a n s a c t i o n s
i n S p a n i s h f u n d s ; i t s r e l a t i o n s w i t h t h e p u b l i c a n d t h e
n a t u r e o f i t s b u s i n e s s f o r c e d i t t o e n g a g e i n t h e m e v e n
a g a i n s t i t s i n c l i n a t i o n . S u c h o p e r a t i o n s , h o w e v e r , w e r e
e s s e n t i a l l y s t o c k e x c h a n g e t r a n s a c t i o n s , a n d d i d n o t c o n -
s t i t u t e r e a l i n v e s t m e n t s s u c h a s w o u l d b i n d t h e H o u s e
o f R o t h s c h i l d t o t h e i n t e r e s t s o f t h a t c o u n t r y .
" F i n a l l y , I w o u l d t a k e t h e l i b e r t y , " S o l o m o n ' s l e t t e r
c o n t i n u e d ,
2 0 " t o o b s e r v e t o y o u r H i g h n e s s t h a t a l l t h e r u -
m o r s a n d o n d i t s c u r r e n t a b o u t t h e H o u s e o f R o t h s c h i l d
a n d i t s r e l a t i o n s w i t h t h e S p a n i s h G o v e r n m e n t s h o u l d b e
a c c e p t e d o n l y w i t h t h e g r e a t e s t r e s e r v e . T h e y a r e g e n -
e r a l l y t h e r e s u l t o f t h a t s l a n d e r o u s m a l i c e t o w h i c h a n y -
b o d y w h o e x e r c i s e s a c e r t a i n i n f l u e n c e i s i n e v i t a b l y e x -
p o s e d . P e r s o n s i n t e r e s t e d i n s p e c u l a t i n g o n t h e b o u r s e s
- a n d t h e h a b i t o f s p e c u l a t i n g i n n e g o t i a b l e s e c u r i t i e s i s
e x t e n d i n g t o a l l c l a s s e s o f s o c i e t y - f r e q u e n t l y m a k e p l a y
w i t h t h e n a m e o f t h e H o u s e o f R o t h s c h i l d , a n d t r y t o
i n t e r p r e t i t s a c t i o n s i n t h e s e n s e o f t h e i r o w n o p e r a t i o n s ,
a s t h i s i n c r e a s e s t h e i r c o n f i d e n c e i n m a k i n g a p r o f i t
. "
T h i s m e m o r a n d u m , e x c e p t f o r o n e i n c o n s i s t e n c y , w a s
v e r y c l e v e r l y d r a f t e d . T h e i n c o n s i s t e n c y l a y i n t h e f a c t
t h a t t h e o p e n i n g p a r a g r a p h s w h i c h s t a t e d t h a t M e n d i z a -
134

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
b a l ' s o f f e r s h a d b e e n r e f u s e d , d e s c r i b e d t h e m a s b e i n g
v e r y a t t r a c t i v e a n d f u l l y g u a r a n t e e d , w h e r e a s t w o p a g e s
l a t e r S p a i n ' s g u a r a n t i e s w e r e d e s c r i b e d a s " h i g h l y p r e -
c a r i o u s a n d u n s o u n d
. " T h e t r u t h w a s t h a t , i n v i e w o f
t h e f a c t t h a t S p a n i s h s e c u r i t i e s w e r e f a l l i n g a w a y t o n o t h -
i n g o w i n g t o t h e c i v i l w a r a n d t h e m a l a d m i n i s t r a t i o n ,
t h e R o t h s c h i l d s w e r e r e a l l y n o t a t a l l a n x i o u s t o i n v e s t t o o
m u c h m o n e y i n t h e c o u n t r y e x c e p t u n d e r t h e g u a r a n t y
o f s t a t e s s u c h a s F r a n c e a n d E n g l a n d . B u t h a v i n g r e g a r d
t o t h e i r p o s i t i o n i n t h e q u i c k s i l v e r m i n e s , w h i c h t h e y
d i d n o t w i s h t o s a c r i f i c e a t a n y p r i c e , t h e y h a d t o e x e r -
c i s e a c e r t a i n r e s t r a i n t i n t h i s m a t t e r , a n d w e r e t h e r e f o r e
c o m p e l l e d t o e n g a g e i n c e r t a i n t r a n s a c t i o n s
.
V o n H u m m e l a u e r i n L o n d o n c o n t i n u e d t o s e n d M e t -
t e r n i c h i n V i e n n a r e p o r t s h o s t i l e t o t h e R o t h s c h i l d s . H e
w e n t s o f a r a s t o a c c u s e t h e B r i t i s h g o v e r n m e n t a l s o o f
i n t r i g u e s , a n d o f " c a p a b l e c o n n i v a n c e " w i t h t h e R o t h s -
c h i l d s .
" T h e M i n i s t r y , " h e r e p o r t e d o n A p r i l
2 6 , 18 36 , 2 1 " i s
t o s u c h a n e x t e n t d e p e n d e n t u p o n t h e H o u s e o f R o t h s -
c h i l d , t h a t i t w i l l s h r i n k f r o m n o s a c r i f i c e o f h o n o r o r
p r o f i t t o i n d u c e t h a t f i r m t o p a y t h e i n t e r e s t d u e o n t h e
S p a n i s h b o n d s M a y 1, i n o r d e r t o p r e v e n t t h e i m m e d i a t e
c o l l a p s e o f S p a i n ' s f i n a n c e s w h i c h t h e G o v e r n m e n t c o u l d
n o t s u r v i v e . "
I n s p i t e o f t h e p r e s s u r e o f t h e B r i t i s h g o v e r n m e n t ,
h o w e v e r , t h e R o t h s c h i l d s w e r e v e r y m u c h d i s i n c l i n e d t o
c o m m i t t h e m s e l v e s t o o d e e p l y i n S p a i n , e s p e c i a l l y a s
t h e p o s s i b i l i t y o f i n t e r v e n t i o n i n t h a t c o u n t r y w a s m o r e
r e m o t e t h a n e v e r . L o u i s P h i l i p p e i n p a r t i c u l a r d e c l a r e d
t h a t n o t h i n g w o u l d m o v e h i m i n t h e a t t i t u d e h e h a d
t a k e n u p w i t h r e g a r d t o S p a i n . " B e f o r e F r a n c e s h a l l
i n t e r v e n e i n S p a i n , " t h e k i n g s a i d , 2 2 " i t w i l l b e n e c e s s a r y
t o d e t h r o n e m e . . . .
" I t i s s a i d t h a t t h e R o t h s c h i l d s w a n t t o n e g o t i a t e a
l o a n i n t h e P e n i n s u l a . T h e y w i l l o n l y b r i n g l o s s a n d
s u f f e r i n g o n o t h e r s , f o r t h e y t h e m s e l v e s w i l l h a v e s o l d
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 135
t h e l o a n b e f o r e i t i s i s s u e d , a n d i n a n y c a s e S p a i n c a n n o t
e s c a p e u l t i m a t e b a n k r u p t c y . I f D o n C a r l o s i s t o b e s u p -
p r e s s e d , t h i s m u s t b e d o n e b y t h e S p a n i a r d s t h e m s e l v e s . "
T h e R o t h s c h i l d s d i d , i n f a c t g r a n t n o f u r t h e r l o a n s
t o S p a i n , a n d t h i s w a s d u e i n n o s m a l l d e g r e e t o t h e f a c t
t h a t t h e m o s t p o w e r f u l p i l l a r o f t h e f i v e b r o t h e r s s u d -
d e n l y c o l l a p s e d . T h e m a r r i a g e b e t w e e n N a t h a n ' s e l d e s t
s o n L i o n e l a n d h i s c o u s i n C h a r l o t t e , t h e d a u g h t e r o f
C a r l a t N a p l e s , h a d b e e n f i x e d t o t a k e p l a c e a t F r a n k -
f o r t i n J u n e , 18 36 . T h i s f u r t h e r u n i o n b e t w e e n t w o b l o o d
r e l a t i o n s w a s e n t i r e l y i n a c c o r d a n c e w i t h t h e s c h e m e o f
o l d M e y e r A m s c h e l R o t h s c h i l d , w h o , i n o r d e r t o m a i n -
t a i n t h e f a m i l y u n i t y a n d t o c o n c e n t r a t e t h e f a m i l y f o r -
t u n e s , h a d c h a r g e d h i s c h i l d r e n t o a d m i t a s f e w f o r e i g n
f a m i l i e s a s p o s s i b l e i n t o t h e m o s t i n t i m a t e f a m i l y c i r c l e .
A l l t h e b r o t h e r s m e t a t t h e f a m i l y h o m e a t F r a n k f o r t
f o r t h e w e d d i n g , J a m e s b e i n g a c c o m p a n i e d b y h i s f r i e n d
t h e g r e a t R o s s i n i . T h e w e d d i n g i t s e l f w a s c e l e b r a t e d
w i t h u n p a r a l l e l e d s p l e n d o r a n d m a g n i f i c e n c e ; b u t s h o r t l y
a f t e r t h e f e s t i v i t i e s t h e b r i d e g r o o m ' s f a t h e r f e l l s i c k .
N a t h a n , t h e g r e a t e s t f i n a n c i a l g e n i u s o f t h e f i v e b r o t h -
e r s , w a s a t t h a t t i m e f i f t y - n i n e y e a r s o l d . H i s m a l a d y g r e w
o b v i o u s l y w o r s e , a n d t h e b r o t h e r s f i n a l l y c a l l e d i n T r a -
v e r s , t h e m o s t e m i n e n t E n g l i s h d o c t o r o f t h e d a y . B u t
m e d i c a l s k i l l w a s o f n o a v a i l , a n d o n J u l y 2 8 , 18 36 , N a -
t h a n R o t h s c h i l d , t h e g r e a t e s t o f f i v e g r e a t b r o t h e r s , d i e d ,
S o l o m o n R o t h s c h i l d , w h o h a d s t a y e d a t h i s b r o t h e r ' s
b e d s i d e t h r o u g h o u t h i s i l l n e s s , f o r g o t a l l t h a t h e h a d e v e r
s a i d o r w r i t t e n a b o u t h i s b r o t h e r N a t h a n , a n d r e p o r t e d
t h e c r u e l l o s s t o M e t t e r n i c h . 2 8
F i l l e d w i t h i m m e a s u r a b l e s o r r o w [ h e w r o t e ] , a n d
i n t h e d e e p e s t d e s p o n d e n c y , I h a v e t o i n f o r m y o u
t h a t m y m o s t d e e p l y l o v e d b r o t h e r N a t h a n M e y e r
R o t h s c h i l d i s n o m o r e
. I t h a s p l e a s e d A l m i g h t y G o d
t o c a l l h i m i n t h e b e s t y e a r s o f h i s l i f e , a n d j u s t a t
t h e m o m e n t w h e n h e s h o u l d h a v e b e e n t a k i n g p l e a -
136

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
s u r e i n t h e h a p p i n e s s o f h i s e l d e s t s o n - h a v i n g j u s t
p r o n o u n c e d h i s p a t e r n a l b l e s s i n g u p o n h i s m a r r i a g e
w i t h t h e d a u g h t e r o f m y b r o t h e r C a r l - a n d m i g h t
h a v e e n j o y e d t h e f e s t i v a l o f o u r f a m i l y r e u n i o n . H e
h a s d i e d t o o s o o n f o r o u r l o v e a n d d e v o t i o n , t o o s o o n
t o r e c e i v e a l l t h o s e m a r k s o f r e s p e c t a n d g r a t i t u d e
w h i c h w e r e h i s d u e f r o m h i s d e p e n d e n t s , i n r e t u r n
f o r t h e c o n s t a n t a n d t i r e l e s s e f f o r t s t h a t h e m a d e
t h r o u g h o u t h i s w h o l e l i f e t o p l a c e t h e i r w e l l - b e i n g
o n a f i r m a n d l a s t i n g f o u n d a t i o n ; t o m a k e h i s H o u s e
p r o s p e r o u s a n d h a p p y ; a n d t o a s s u r e t h e c o n t i n u e d
p r o s p e r i t y a n d h o n o r o f h i s f a m i l y . ; H e a v e n w o u l d
h a v e i t s o .
I n p i o u s r e s i g n a t i o n t o D i v i n e P r o v i d e n c e w e h o p e
t o f i n d t h e c o m f o r t t h a t w e s o s a d l y n e e d . O n t h e
a f t e r n o o n o f 2 8 t h J u l y m y b r o t h e r p a s s e d o v e r t o a
b e t t e r l i f e a f t e r h e h a d s o l e m n l y c o n v e y e d , t h r o u g h
u s h i s b r o t h e r s , h i s s o l e m n c h a r g e t o h i s s o n s , w h o
w e r e n o t a l l p r e s e n t w h e n h e d i e d , l o y a l l y a n d f i r m l y
t o h o l d t o g e t h e r , a n d a l w a y s t o k e e p i n v i e w a s t h e i r
a i m t h e e x a m p l e o f u n i t y a n d a f f e c t i o n w h i c h w e
h a v e s e t . T h e L o n d o n H o u s e w i l l c o n t i n u e t o o p e r a t e
u n c h a n g e d u n d e r t h e n a m e o f h i m , t h e f o u n d e r ; i t
w i l l b e m a n a g e d b y h i s s o n s , a n d t h e r e w i l l b e n o
c h a n g e o f a n y k i n d . W i t h r e g a r d t o p r o p e r t y a n d
m e a n s , a n d i n i t s p r i n c i p l e s a n d r e l a t i o n s w i t h u s
o t h e r f o u r b r o t h e r s , t h e r e w i l l n o t b e t h e s l i g h t e s t
m o d i f i c a t i o n o n p r e v i o u s p r a c t i c e .
S o l o m o n m a d e t h e l e t t e r a n o c c a s i o n f o r t h e f o l l o w i n g
r e q u e s t
T h a t y o u r H i g h n e s s w i l l t r a n s f e r a l l t h o s e f e e l i n g s
o f g r a c i o u s a n d k i n d l y g o o d - w i l l w h i c h y o u e n t e r -
t a i n e d f o r t h e i r l a m e n t e d f a t h e r t o h i s s o n s . H o w
g r e a t l y i t w i l l s t r e n g t h e n a n d e n c o u r a g e t h e m i n t h e
p a i n f u l b l o w t h a t t h e y h a v e s u f f e r e d i f t h e y m a y
e n j o y t h e g r a c i o u s g o o d - w i l l o f a P r i n c e o f a d i g n i t y ,
m a g n i f i c e n c e , a n d r e n o w n b e y o n d a l l w o r d s . M a y
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
137
y o u r H i g h n e s s b e g r a c i o u s l y p l e a s e d t o c o m f o r t y o u r
l o y a l a n d t r u l y d e v o t e d s e r v a n t w i t h t h i s h o p e , t h a t
i t m a y c o m f o r t m e i n m y s o r r o w , a n d r a i s e m e u p
i n m y s u f f e r i n g - i f t h e r e i s a n y t h i n g t h a t c o u l d a s s i s t
i n b r i n g i n g c o m f o r t i n t h e i r i r r e p a r a b l e l o s s t o t h e
d e e p l y s o r r o w i n g f a m i l y i n L o n d o n , i t w o u l d b e t o
g r a n t t h e m s o m e p u b l i c d i s t i n c t i o n i n t h e e y e s o f
t h e w o r l d s u c h a s w o u l d s h o w t h a t t h r o u g h t h e d e a t h
o f t h e i r f a t h e r t h e f a m i l y h a d n o t l o s t a d i s t i n c t i o n
w h i c h h e w a s p r o u d t o p o s s e s s s o l o n g a s h e b r e a t h e d
.
I r e f e r t o h i s p o s i t i o n a s C o n s u l G e n e r a l i n L o n d o n
o f h i s I . & R . A p o s t o l i c M a j e s t y . M a y y o u r H i g h -
n e s s b e g r a c i o u s l y p l e a s e d t o u s e y o u r a l l p o w e r f u l
i n f l u e n c e t o t h e e n d t h a t t h i s o f f i c e m a y p a s s t o B a r o n
L i o n e l N a t h a n v o n R o t h s c h i l d , t h e e l d e s t s o n o f m y
l a t e b r o t h e r . H e , n o l e s s t h a n h i s o t h e r b r o t h e r s , w i l l
c e r t a i n l y f u l f i l t h e b e h e s t s o f h i s l a t e f a t h e r , a n d
w i l l c o n s i d e r i t h i s c o n s t a n t d u t y t o e m u l a t e a l l h i s
f a t h e r ' s v i r t u e s
.
M y b r o t h e r s a n d I [ S o l o m o n c o n t i n u e d ] , i n d e e d
t h e w h o l e f a m i l y o f t h e d e p a r t e d , w i l l r a i s e t o y o u r
E x c e l l e n c y a m o n u m e n t o f u n d y i n g g r a t i t u d e t h a t
a f t e r t h i s i n e x p r e s s i b l y s a d e v e n t y o u s h o u l d b e t h e
f i r s t t o p e r f o r m a p u b l i c a c t w h e r e b y t h e w o r l d s h a l l
l e a r n t h a t t h e h o n o r a n d d i g n i t y t h a t p e r t a i n e d t o
t h e f a t h e r , h a v i n g p a s s e d o n t o h i s s o n , s t i l l r e d o u n d
t o t h e h o n o r a n d g l o r y o f t h e f a m i l y . . . .
S o l o m o n R o t h s c h i l d h a d a l s o r e p o r t e d h i s b r o t h e r ' s
d e a t h t o C o u n t K o l o w r a t , a n d a s k e d h i s s e c r e t a r y , M o r i t z
G o l d s c h m i d t , 2 4
a l s o t o m a k e a v e r b a l r e q u e s t t h a t " a l m o s t
t h e l a s t w i s h e x p r e s s e d b y t h e d y i n g m a n , " w i t h r e g a r d
t o t h e c o n s u l a t e g e n e r a l , s h o u l d b e c a r r i e d o u t
.
M e t t e r n i c h s e n t a f r i e n d l y a n d s y m p a t h e t i c r e p l y a s -
s u r i n g S o l o m o n t h a t h e w o u l d f a v o r a b l y c o n s i d e r t h e
q u e s t i o n o f a p p o i n t i n g L i o n e l . S o l o m o n t h a n k e d h i m
2 5
f o r h i s g r a c i o u s l e t t e r , a s s u r i n g M e t t e r n i c h t h a t h e s e t
t h e h i g h e s t v a l u e o n i t a s a p r o o f o f t h e l a t t e r ' s s i n c e r e
138

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
s y h ' i , p a t h y , a n d t h a t i t w o u l d b e m o s t c a r e f u l l y t r e a s u r e d
a s a s a c r e d m a r k o f h i s k i n d n e s s a n d f r i e n d s h i p .
" Y o u r H i g h n e s s , " S o l o m o n c o n t i n u e d , " m a y e a s i l y
j u d g e h o w d e e p l y t h i s s a d d e a t h h a s e s p e c i a l l y a f f e c t e d
m e . T h r o u g h o u t t h e w h o l e p e r i o d o f t h e i l l n e s s I w a s
a l m o s t a l w a y s t h e p e r s o n w h o w a s w i t h m y l a t e b r o t h e r ;
d a y a n d n i g h t ( f o r I w a s l i v i n g i n t h e s a m e h o u s e w i t h
m y s o n A n s e l m ) ' I w o u l d c o n s t a n t l y c o m e a t h i s b i d d i n g
t o h e a r a n y w i s h t h a t h e h a d t o e x p r e s s i n h i s l a s t m o -
m e n t s ; a n d I m a y s a y I e n j o y e d h i s c o m p l e t e c o n f i d e n c e
i n a l l h i s a f f a i r s . T h r e e d a y s b e f o r e h i s d e a t h h e t o l d m e
a l l h i s t h o u g h t s a n d w i s h e s w i t h r e g a r d t o t h e w i l l w h i c h
h e t h e n d r e w u p , a n d w h i c h I t h e n h a d w r i t t e n o u t i n
a c c o r d a n c e w i t h h i s i n t e n t i o n s .
" W e b r o t h e r s a n d t h e w h o l e f a m i l y h a v e s u f f e r e d a n i r -
r e p a r a b l e l o s s i n h i s d e a t h . G o d a l o n e c a n h e a l t h e w o u n d
t h a t h a s b e e n i n f l i c t e d u p o n u s . W e m u s t s e e k a l l e v i a t i o n
f o r o u r s o r r o w s i n t h e c o n s o l a t i o n s o f o u r r e l i g i o n
. Y o u r
H i g h n e s s w i l l g r a c i o u s l y p a r d o n m e i f , a t t h i s t i m e o f
u n c o n t r o l l a b l e s o r r o w , I c a n n o t r e f r a i n f r o m e x p r e s s i n g
m y f e e l i n g s ; y o u r k i n d n e s s a n d h u m a n i t y a r e g u a r a n t y
t h a t y o u w i l l h o n o r m y j u s t s o r r o w .
" I n v i e w o f t h e f r i e n d l y a d v i c e y o u r H i g h n e s s h a d
g i v e n m e I w i l l n o t c o n c e a l f r o m y o u t h a t I c o n s i d e r
i t f o r t u n a t e t h a t I w a s a b l e t o b e p r e s e n t h e r e o n t h i s
u n f o r t u n a t e o c c a s i o n , s i n c e I e n j o y e d t h e c o n f i d e n c e , n o t
o n l y o f m y l a t e b r o t h e r , b u t a l s o o f m y o t h e r b r o t h e r s , i n
e v e r y t h i n g t h a t w a s d o n e , a n d t h e y l e f t e v e r y t h i n g t o m e
.
I m a y s a y w i t h a c l e a r c o n s c i e n c e t h a t t h e y w i l l h a v e
n o c a u s e t o r e g r e t t h i s , f o r I h a v e a c t e d w i t h t r u e d i s i n t e r -
e s t e d n e s s a s a b r o t h e r a n d f r i e n d , a n d h a v e c a r r i e d
t h r o u g h e v e r y t h i n g j u s t l y .
" T h e a g r e e m e n t s b e t w e e n u s f o r a f u r t h e r p e r i o d o f
t h r e e y e a r s h a d b e e n d r a w n u p , e m b o d y i n g e v e r y p o i n t ,
a n d t h e y w e r e r e a d y f o r s i g n a t u r e , f o r w e s t i l l b e l i e v e d
t h a t o u r l a t e b r o t h e r w o u l d w i t h G o d ' s h e l p r e c o v e r .
H o w e v e r , t h i s w a s n o t t o b e , F a t e h a d d e c i d e d o t h e r w i s e .
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
139
O n h i s d e a t h - b e d N a t h a n a s k e d m e t o h a v e t h e c o n t r a c t
r e n e w e d w i t h h i s s u r v i v i n g s o n s , w i t h t h e p r o v i s i o n t h a t
i t s h o u l d n o t b e t e r m i n a t e d w i t h i n a p e r i o d o f f i v e y e a r s ,
a n d t h i s h a s b e e n d o n e , a s y o u r H i g h n e s s w i l l s e e o n
p e r u s i n g t h e c o n t r a c t s w h i c h I s h a l l h a v e t h e h o n o r t o
l a y b e f o r e y o u o n m y
r e t u r n .
" T h e f i r m o f N
. M
. R o t h s c h i l d r e m a i n s u n a l t e r e d , t h e
s o n s t o g e t h e r a c t i n g a s a u n i t w i t h o n e v o t e i n t h e p a r t n e r -
s h i p
. T h e w h o l e t r a d i n g c a p i t a l o f t h e f o u r b r o t h e r s ,
a n d o f t h e l a t e N
. M . R . , c a n n o t b e t o u c h e d f o r t h e
n e x t f i v e y e a r s , a n d n o b o d y c a n d r a w a n y t h i n g o u t o f
t h e w o r k i n g c a p i t a l , w h i l e w e h a v e r e d u c e d t h e i n t e r e s t
t h a t w e d r a w i n d i v i d u a l l y f r o m f o u r t o t h r e e p e r c e n t
s o t h a t t h e p a r t n e r s h i p a s a w h o l e w i l l , w i t h G o d ' s h e l p ,
s t i l l f u r t h e r i m p r o v e i t s p o s i t i o n i n t h e f i v e y e a r s , a s t h e
p r o p o r t i o n o f t h e f u n d s w h i c h c a n b e s p e n t h a s b e e n
r e d u c e d
; a n d t h e r e i s n o n e c e s s i t y f o r t h e y o u n g m e n t o
b e d r a w n i n t o s p e c u l a t i v e v e n t u r e s
.
" M y b r o t h e r r e c k o n e d t h a t h e h a d g i v e n h i s c h i l d r e n
a b o u t 8 o o , o o o d u r i n g h i s l i f e t i m e , a n d h e h a s l e f t a n
e x t r a o r d i n a r i l y v a l u a b l e b u s i n e s s , s o t h a t , a p a r t f r o m
t h e i r s h a r e i n t h e b u s i n e s s , e a c h o f h i s s o n s h a s a b o u t
r s o
t o z o o t h o u s a n d p o u n d s o f h i s o w n
. O n h i s d e a t h - b e d
m y l a t e b r o t h e r c h a r g e d h i s e l d e s t s o n , a n d t h r o u g h h i m
t h o s e w h o w e r e n o t p r e s e n t , a l w a y s t o a p p l y a l l t h e i r
e f f o r t s t o k e e p t h e b u s i n e s s p r o p e r t y i n t a c t , a n d n o t t o
p a r t i c i p a t e i n a n y r i s k y v e n t u r e s
. H e g a v e t h e m m u c h
w i s e c o u n s e l , b a d e t h e m a v o i d a l l e v i l c o m p a n y a n d a l -
w a y s t o k e e p i n t h e w a y o f t r u e v i r t u e , r e l i g i o n , a n d
r i g h t e o u s n e s s
. M y l a t e b r o t h e r t o l d t h e m t h a t t h e w o r l d
w o u l d n o w t r y t o m a k e m o n e y o u t o f u s s o t h a t i t b e h o v e d
t h e m t o b e a l l t h e m o r e c a r e f u l , a n d h e r e m a r k e d t h a t
w h e t h e r a n y s o n h a d 5o , o o o m o r e o r n o t w a s a m a t t e r o f
i n d i f f e r e n c e t o h i m
. A l l t h a t m a t t e r e d w a s t h a t t h e y
s h o u l d h o l d t o g e t h e r i n u n i t y
.
" H e d i e d i n f u l l p o s s e s s i o n o f h i s f a c u l t i e s , a n d t e n
m i n u t e s b e f o r e h i s d e a t h h e s a i d , a s h e r e c e i v e d t h e l a s t
14 0

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
c o n s o l a t i o n s o f r e l i g i o n t h a t a r e c u s t o m a r y w i t h u s : ` I t
i s n o t n e c e s s a r y t h a t I s h o u l d p r a y s o m u c h , f o r b e l i e v e
m e , a c c o r d i n g t o m y c o n v i c t i o n s , I h a v e n o t s i n n e d
. ' -
T o m y d a u g h t e r B e t t y a s s h e t o o k l e a v e o f h i m h e s a i d ,
i n t h e t r u l y B r i t i s h m a n n e r , ` G o o d n i g h t f o r e v e r . ' T h u s
p e a c e f u l l y a n d i n f u l l p o s s e s s i o n o f h i s f a c u l t i e s o u r
b r o t h e r p a s s e d o v e r i n t o t h e b e t t e r l i f e . "
O n h i s b r o t h e r ' s d e a t h a n y r e s e n t m e n t o r i n d i f f e r e n c e
o f o p i n i o n t h a t S o l o m o n h a d e v e r f e l t w i t h r e g a r d t o
h i s a c t i o n s m e l t e d a w a y l i k e s n o w i n t h e s u n . E v e r y t h i n g
e l s e w a s l o s t i n a n o v e r w h e l m i n g s e n s e o f f a m i l y u n i t y
w h i c h i s s o c h a r a c t e r i s t i c e s p e c i a l l y o f t h e J e w i s h r a c e ,
a n d i n t h i s c a s e h a d b e e n i n c u l c a t e d w i t h p a r t i c u l a r e m -
p h a s i s b y o l d M e y e r A m s c h e l , t h e f o u n d e r o f t h e b a n k .
N a t h a n h a d l e f t f o u r s o n s , t h e e l d e s t o f w h o m , L i o n e l ,
b e c a m e h e a d o f t h e L o n d o n b a n k . T h u s t h e t h i r d g e n e r a -
t i o n s i n c e t h e f o u n d a t i o n o f t h e f i r m w e r e c o m i n g i n t o
t h e s a d d l e .
I n i t s p a t r i a r c h a l s t y l e , a n d i n t h e t e n d e r c o n c e r n t h a t
h e s h o w e d f o r h i s c h i l d r e n , N a t h a n ' s w i l l w a s r e m i n i s c e n t
o f t h a t o f h i s f a t h e r . I t w a s v e r y g e n e r a l i n i t s t e r m s , a n d
p a r t i c u l a r l y r e f r a i n e d f r o m e n t e r i n g i n t o p r e c i s e d e t a i l s
a s t o t h e v a l u e o f t h e p r o p e r t y l e f t . I t d e a l t e s p e c i a l l y
w i t h t h e m e t h o d o f c a r r y i n g o n t h e b u s i n e s s , a n d t h e
c o n t r a c t u a l r e l a t i o n s h i p b i n d i n g t h e p a r t n e r s f o r t h e p e -
r i o d o f t h r e e o r f i v e y e a r s .
" I t i s m y e a r n e s t w i s h , " N a t h a n w r o t e i n h i s w i l l , 2 6
" t h a t m y s o n s s h a l l c a r r y o n m y b u s i n e s s i n L o n d o n , t h a t
t h e a s s o c i a t i o n w i t h t h e o t h e r H o u s e s w h i c h m y d e a r
b r o t h e r s d i r e c t s h a l l b e m a i n t a i n e d , t h a t t h e y s h a l l c o n -
t i n u e t o r e m a i n p a r t n e r s t o g e t h e r , a n d t h a t t o t h i s e n d
t h e A r t i c l e s o f A s s o c i a t i o n b e t w e e n m y s o n s a n d m y b r o t h -
e r s s h a l l b e r e n e w e d f o r f u r t h e r p e r i o d s o f f i v e y e a r s .
A t t h e s a m e t i m e I c h a r g e m y s o n s a l w a y s w i l l i n g l y t o
a c c e p t t h e a d v i c e o f m y e x p e r i e n c e d b r o t h e r s , a n d t o d i -
r e c t t h e i r t i r e l e s s e n d e a v o u r s , t h r o u g h a s s i d u o u s i n d u s t r y
i n t e l l i g e n t l y a p p l i e d , t o e s t a b l i s h o n a n e v e r f i r m e r f o u n -
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 14 1
d a t i o n , t h e w e l f a r e a n d r e p u t a t i o n o f t h e h o u s e . - I w o u l d
r e q u e s t t h e e x e c u t o r s o f t h e W i l l a s w e l l a s a n y r e l a t i o n s
i n L o n d o n a n d F r a n k f o r t u n n a m e d , t o c o n f i n e t h e i r e f -
f o r t s s i m p l y a n d s o l e l y t o t h e d u e e x e c u t i o n o f t h i s m y
l a s t W i l l a n d T e s t a m e n t , a n d - s i n c e i t d o e s n o t p e r t a i n t o
t h e i r o f f i c e a t a l l - n o t t o a s k f o r a n y f u r t h e r i n f o r m a t i o n ,
o r f o r t h e p r o d u c t i o n o f a n y b o o k s o f a c c o u n t s . "
I t w a s t h u s p o s s i b l e a g a i n t o a v o i d a n y u n p l e a s a n t s c r u -
t i n y o r p u b l i c d i s c u s s i o n o f t h e e n o r m o u s R o t h s c h i l d
w e a l t h w h i c h w a s s p r e a d o v e r t h e w h o l e o f E u r o p e . T h e
g o v e r n m e n t a l s o r e f r a i n e d f r o m a p p l y i n g t o o c l o s e a
m e a s u r e i n t h e c a s e o f a m a n w h o h a d r e n d e r e d i t s u c h
i m p o r t a n t s e r v i c e s o v e r a p e r i o d o f y e a r s , a n d e v e n i n t h e
l a s t y e a r o f h i s l i f e h a d s u c c e e d e d i n r a i s i n g a l o a n o f
i s , o o o , o o o t o i n d e m n i f y t h e s l a v e o w n e r s w h e n s l a v e r y
w a s a b o l i s h e d .
T h e d e a t h o f N a t h a n w a s a v e r y s e r i o u s l o s s t o t h e
H o u s e . H e y d e n s a y s o f h i m v e r y j u s t l y i n h i s " G a l e r i e
b e r u h m t e r a n d m e r k w u r d i g e r F r a n k f u r t e r " 2 7 t h a t , a l -
t h o u g h N a t h a n w a s t h e t h i r d s o n , h e w a s l o o k e d u p o n
a s t h e h e a d o f t h e f a m i l y , a n d t h e o t h e r b r o t h e r s g e n e r a l l y
t o o k h i s a d v i c e . H e w a s t h e c o n t r o l l i n g s p i r i t i n t h e a p p l i -
c a t i o n o f t h e e n o r m o u s f u n d w h i c h t h e y j o i n t l y p o s s e s s e d .
G u t z k o w s a i d o f h i m , 2 8 t h a t h e t h r e w h i m s e l f i n t o a l l
h i s u n d e r t a k i n g s w i t h e n o r m o u s v i g o r , a n d e v e r y t h i n g
a b o u t h i m w a s o n a l a r g e s c a l e . N a t h a n w a s a s p l e n d i d
e x a m p l e o f t h e t r a d i t i o n s a n d w e a l t h o f t h e c i t y . H e w a s
a s m u c h r e s p e c t e d t h e r e a s h e w a s f e a r e d , a n d m a d e u p o n
a l l w h o k n e w h i m t h e i m p r e s s i o n o f a m a n w h o h a d a
p o s i t i v e g e n i u s f o r b u s i n e s s
. H e h i m s e l f h a d t h e g r e a t -
e s t p o s s i b l e a d m i r a t i o n f o r i n d u s t r y . H e o n c e s a i d t o a
f r i e n d w i t h r e f e r e n c e t o h i s c h i l d r e n , " I w i s h t h a t t h e y
m a y d e v o t e t h e m s e l v e s m i n d , s o u l , h e a r t , a n d b o d y t o
t h e i r b u s i n e s s - t h a t i s t h e w a y t o a t t a i n h a p p i n e s s . "
2 9
T h i s r e m a r k w a s a b s o l u t e l y i n a c c o r d a n c e w i t h h i s
c h a r a c t e r , b u t i t s i m p l y c o n f i r m e d t h e o l d s a y i n g t h a t
w o r k m a k e s a m a n h a p p y .
14 2

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
N a t h a n w a s a v e r y w e l l - k n o w n f i g u r e i n t h e C i t y o f
L o n d o n . T h e p i l l a r a g a i n s t w h i c h h e w a s a c c u s t o m e d t o
l e a n i s s t i l l p o i n t e d o u t o n t h e S t o c k E x c h a n g e . O f m a s -
s i v e b u i l d , h i s h e a d s e t b e t w e e n t h i c k s h o u l d e r s , h e w o u l d
s t a n d t h e r e w i t h h i s h a n d s d e e p i n h i s t r o u s e r p o c k e t s ,
a p p a r e n t l y i n d i f f e r e n t t o w h a t w a s g o i n g o n a b o u t h i m ,
b u t i n r e a l i t y o b s e r v i n g e v e r y t h i n g v e r y c l o s e l y . N a t h a n
w o u l d a l s o r e p l y i n m o n o s y l l a b l e s , g i v i n g s h o r t a n d d e f i -
n i t e i n s t r u c t i o n s . H e w a s f u l l y c o n s c i o u s o f h i s p o w e r , a n d
u n i n f l u e n c e d b y t h e f l a t t e r y w h i c h h i s r i c h e s c a l l e d f o r t h .
H e h a d g r a d u a l l y c o m e t o d e s p i s e m a n k i n d , h a v i n g b e e n
l e d t o t h i s c o n c l u s i o n t h r o u g h o b s e r v i n g t h e e f f e c t o f t h e
g o l d t h a t f l o w e d f r o m h i s h a n d . "
N a t h a n ' s b o d y w a s b r o u g h t f r o m F r a n k f o r t t o L o n d o n ,
a n d l a y a t N e w C o u r t , h i s h o u s e i n S t . S w i t h i n ' s L a n e .
T h e f u n e r a l p r o c e s s i o n o n A u g u s t 8 , 18 36 , w a s a n o u t -
w a r d s y m b o l o f t h e e n o r m o u s p o s i t i o n w h i c h N a t h a n
h a d a c h i e v e d i n t h e B r i t i s h E m p i r e . T h e r e p r e s e n t a t i v e s
o f t h e g r e a t P o w e r s , t h e l o r d m a y o r , t h e s h e r i f f s , a n d s e v -
e r a l a l d e r m e n o f t h e C i t y o f L o n d o n f o l l o w e d t h e c o f f i n ,
w h i c h w a s p r e c e d e d b y a p r o c e s s i o n o f J e w i s h o r p h a n
c h i l d r e n c l o t h e d i n w h i t e . T h e w h o l e o f L o n d o n h a d
c o m e t o s e e t h e f u n e r a l p r o c e s s i o n ; t h e c r o w d s w e r e e n o r -
m o u s , a n d i t w a s d i f f i c u l t t o m a i n t a i n o r d e r . S u c h w a s
t h e f u n e r a l o f t h e m a n w h o f o r t y y e a r s b e f o r e h a d e m i -
g r a t e d f r o m F r a n k f o r t t o L o n d o n a s a s m a l l J e w i s h t r a d e r
w i t h o u t n a m e o r p o s i t i o n .
S o l o m o n s a w t o i t t h a t t h e e v e n t w a s g i v e n p r o p e r
p u b l i c i t y . J a m e s h a d a r r a n g e d f o r a n a r t i c l e o f e x t r a v a -
g a n t p r a i s e o f N a t h a n t o a p p e a r i n t h e j o u r n a l d e s D e b a t s ,
a n d S o l o m o n a r r a n g e d f o r i t t o b e p r i n t e d i n o t h e r
p a p e r s a s w e l l . H e a s k e d G u t z k o w t o h e l p h i m i n t h i s ,
a n d G u t z k o w w r o t e t h e f o l l o w i n g l e t t e r o n A u g u s t 12 ,
18 36 , t o K o l b , t h e e d i t o r - i n - c h i e f o f t h e A l l g e m e i n e
Z e i t u n g .
31
" T h e V i e n n a R o t h s c h i l d h a s a p p r o a c h e d m e w i t h a
v i e w t o h a v i n g t h e a r t i c l e o n h i s b r o t h e r , w h i c h a p p e a r e d
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e 1
4 3
o n t h e 5t h i n s t . i n t h e j o u r n a l d e s D e b u t s , r e p r o d u c e d
i n t h e A l l g e m e i n e Z e i t u n g . I h a v e h a d t h e a r t i c l e w h i c h
I e n c l o s e t r a n s l a t e d , a n d w o u l d b e g l a d i f y o u c o u l d h a v e
i t p r i n t e d i f p o s s i b l e . I n e e d n o t r e m i n d y o u o f M e t t e r -
n i c h ' s r e l a t i o n s w i t h S o l o m o n . "
N a t h a n ' s d e a t h n a t u r a l l y p r o d u c e d i m p o r t a n t c h a n g e s
i n t h e m a n a g e m e n t o f t h e R o t h s c h i l d b u s i n e s s . T h e t a c i t
l e a d e r s h i p w h i c h h e h a d h e l d p a s s e d t o J a m e s i n P a r i s ;
i n S p a n i s h a f f a i r s t h e H o u s e o f R o t h s c h i l d h e n c e f o r w a r d
p a i d l e s s a t t e n t i o n t o B r i t i s h w i s h e s , a n d c o n f i n e d i t s c o n -
c e s s i o n s t o t h e m i n i m u m t h a t w a s n e c e s s a r y i n o r d e r t o
r e t a i n t h e i r h o l d o v e r t h e q u i c k s i l v e r m i n e s , w h i c h i t
r i g h t l y r e g a r d e d a s a h i g h l y p r o f i t a b l e b u s i n e s s . I t w a s
t h e m o r e d e s i r a b l e t h a t t h e H o u s e s h o u l d c u t d o w n i t s
S p a n i s h c o m m i t m e n t s s i n c e M e n d i z a b a l p r o v e d a f a i l -
u r e ; h e l o s t a l l p r e s t i g e a n d S p a i n c a m e t h r e a t e n i n g l y
n e a r t h e v e r g e o f b a n k r u p t c y .
T o M e t t e r n i c h ' s g r e a t s a t i s f a c t i o n t h e R o t h s c h i l d s w i t h -
d r e w f r o m f i n a n c i a l t r a n s a c t i o n s i n S p a i n i n v i e w o f t h e
d e s p e r a t e c o n d i t i o n o f t h e c o u n t r y
. N a t h a n ' s s o n s , w h o
w i s h e d t o s t a n d a s w e l l a s p o s s i b l e w i t h A u s t r i a , i n o r d e r
t o s e c u r e t h e c o n s u l a t e , d e c l a r e d t o H e r r v o n H u m m e l -
a u e r 32
t h a t t h e y w o u l d h a v e n o t h i n g f u r t h e r t o d o w i t h
t h e S p a n i s h b u s i n e s s . " A l l k i n d s o f o f f e r s , " t h e y s a i d t o
h i m , " h a v e b e e n m a d e t o i n d u c e u s t o t a k e o v e r t h e n e x t
p a y m e n t o f S p a n i s h d i v i d e n d s , b u t w e a r e d e t e r m i n e d
n o t t o d o s o , a n d " - a d d e d o n e o f t h e R o t h s c h i l d s - " i t w a s
n o t w e w h o p a i d t h e e a r l i e r d i v i d e n d s . "
" T h e e a r l i e r d i v i d e n d s , " v o n H u m m e l a u e r c o m m e n t e d
o n t h i s , " w e r e a l w a y s p a i d o u t o f t h e l o a n s f l o a t e d b y t h e
H o u s e o f R o t h s c h i l d ; d e b t s w e r e m e t b y f u r t h e r b o r r o w -
i n g s w i t h o u t t h e H o u s e o f R o t h s c h i l d a d v a n c i n g i t s o w n
c a s h . A s i t i s n o w q u i t e i m p o s s i b l e t o g e t a n y m o r e m o n e y
o u t o f t h e p u b l i c , t h e H o u s e o f R o t h s c h i l d w o u l d h a v e
t o f i n d f u t u r e d i v i d e n d s o u t o f i t s o w n r e s o u r c e s , a n d
w i t h o u t a n y p o s s i b i l i t y o f s e e i n g i t s m o n e y a g a i n . "
M e a n w h i l e i m p o r t a n t c h a n g e s w e r e t a k i n g p l a c e i n
14 4

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
S p a i n t h a t o n l y s e r v e d t o m a k e t h e p o s i t i o n m o r e c r i t i -
c a l . M e n d i z a b a l h a d r e s i g n e d i n M a y , 18 36 , a n d t h e
s u m m e r b r o u g h t f u r t h e r s u c c e s s e s t o D o n C a r l o s ; i n d e e d ,
t h e r e w a s a r i s i n g i n t h e i m m e d i a t e n e i g h b o r h o o d o f t h e
c a s t l e o f t h e q u e e n r e g e n t . T h e c o n s t i t u t i o n o f 18 12 w a s
a c c e p t e d u n d e r d u r e s s , a n d t h e q u e e n a t t i m e s m e d i t a t e d
f l i g h t . T h e c o n s t i t u e n t C o r t e s m e t o n O c t o b e r 2 4 , 18 36 ,
a m i d s t c i r c u m s t a n c e s o f g e n e r a l c o n f u s i o n .
D o n C a r l o s , h o w e v e r , h a d f a i l e d t o t u r n t h e s e f a v o r -
a b l e c i r c u m s t a n c e s t o f u l l a c c o u n t , a n d E s p a r t e r o , t h e
g e n e r a l o f t h e C h r i s t i n o s , a c t u a l l y s u c c e e d e d i n D e c e m -
b e r , 18 36 , i n i n f l i c t i n g a s e v e r e r e v e r s e u p o n h i m
. I n t h e
f i r s t h a l f o f M a r c h , h o w e v e r ,
a c o n c e n t r a t e d a t t a c k b y
t h e C h r i s t i n o s f a i l e d .
M e t t e r n i c h w a s c o n s t a n t l y w a t c h i n g t h e a t t i t u d e o f
t h e R o t h s c h i l d s t o S p a i n w i t h g r a v e m i s t r u s t , a n d a s k e d
A p p o n y i t o r e p o r t o n i t . T h e l a t t e r , i n s t e a d o f r e f e r r i n g
t o p e r s o n s w h o h a d o t h e r s o u r c e s o f i n f o r m a t i o n , g e n -
e r a l l y a s k e d J a m e s R o t h s c h i l d h i m s e l f , o r a c c e p t e d t h e
s t a t e m e n t s o f a p o l i t i c a l c h a r l a t a n a n d p a i d i n f o r m e r
c a l l e d K l i n d w o r t h , w h o s e r e p o r t s w e r e o n l y t o o f r e -
q u e n t l y u n t r u e . I n M a r c h , 18 37, A p p o n y i h a d a n o t h e r d i s -
c u s s i o n w i t h J a m e s R o t h s c h i l d i n w h i c h t h e l a t t e r s a i d
t h a t t h e y i e l d o f t h e q u i c k s i l v e r m i n e s h a d b e e n e n o r -
m o u s l y i n c r e a s e d , a n d t h a t t h e R o t h s c h i l d s w e r e b e i n g
a s k e d f o r a n a d v a n c e o f 2 , 000, 000 f r a n c s o n a c c o u n t o f
r o y a l t i e s . H e s a i d t h a t t h e i r M a d r i d a g e n t w a s p r e s s i n g
f o r t h e a c c e p t a n c e o f t h i s p r o p o s a l , a n d b e g g i n g t h a t
J a m e s R o t h s c h i l d , w h o p a i d t h e e x p e n s e s o f t h e S p a n i s h
l e g a t i o n i n P a r i s , ( a m o u n t i n g t o 8 o , o o o f r a n c s a m o n t h )
o u t o f h i s o w n p o c k e t w i t h o u t e v e r r e c e i v i n g
a r e f u n d ,
s h o u l d n o t c e a s e t h e s e p a y m e n t s .
W e i s w e i l l e r , t h e R o t h s c h i l d r e p r e s e n t a t i v e a t M a d r i d ,
s a i d t h a t i f t h e p a y m e n t s w e r e s t o p p e d h e w o u l d b e
h o u n d e d o u t o f t h e t o w n a n d t h e e x c e e d i n g l y p r o f i t a b l e
q u i c k s i l v e r b u s i n e s s w o u l d b e l o s t . S u c h s t a t e m e n t s
n e c e s s a r i l y i n d i c a t e d t h a t t h e H o u s e o f R o t h s c h i l d s t i l l
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
14 5
h a d s c h e m e s w i t h S p a i n ; b u t t h e s e w e r e c o n n e c t e d o n l y
w i t h t h e q u i c k s i l v e r m i n e s , f o r t h e p r e s t i g e o f S p a i n ' s
f i n a n c e s h a d s u n k s o l o w t h a t r e n t e s w e r e q u o t e d a t a b o u t
o n l y 2 0% t o 2 5%
.
J u n e s a w a f u r t h e r c h a n g e i n t h e f o r t u n e s o f w a r , a n d
f o r a t i m e D o n C a r l o s w a s a c t u a l l y p l a n n i n g t o a d v a n c e
o n M a d r i d . I n M a y a n d J u n e , 18 37, h e h a d s u b s t a n t i a l
s u c c e s s e s
. T h i s p r o d u c e d a p a n i c i n t h e P a r i s b r a n c h o f
R o t h s c h i l d s , w h e r e i t w a s f e a r e d t h a t " t h e s e d e v i l s , t h e
m e m b e r s o f t h e C o r t e s " w o u l d m a k e d i f f i c u l t i e s a b o u t t h e
A l m a d e n m i n e s
. R o t h s c h i l d t h o u g h t h e c o u l d c o m e t o a n
u n d e r s t a n d i n g w i t h t h e m , b u t i f D o n C a r l o s w e r e t o b e
v i c t o r i o u s e v e r y t h i n g w o u l d b e l o s t . A t t h e e n d o f J u n e
t h e F r e n c h p r i m e m i n i s t e r w a s d i n i n g w i t h t h e p a n i c -
s t r i c k e n J a m e s R o t h s c h i l d , a n d r e m a r k e d o n t h a t o c c a s i o n
t o B a r o n v o n H u g e l , w h o w a s a c t i n g f o r C o u n t A p -
p o n y i ,
33
" R o t h s c h i l d i s e n t i r e l y p r e o c c u p i e d w i t h t h e
l o s s e s t h a t h e e x p e c t s t o i n c u r , a n d h e i s p a r t i c u l a r l y
a n x i o u s a b o u t h i s q u i c k s i l v e r m i n e s , w h i c h h e s a y s D o n
C a r l o s w i l l t a k e f r o m h i m . T h e s e p e o p l e a r e s i m p l y a f t e r
m o n e y , a n d f o r g e t e v e r y t h i n g e l s e w h e n t h e i r i n t e r e s t s a r e
a t s t a k e . "
A l i t t l e l a t e r M o l e r e p o r t e d , w i t h r e f e r e n c e t o J a m e s ,
t h a t s i n c e h e h a d g o t i n v o l v e d i n t h e S p a n i s h a f f a i r s h e
h a d n o t b e e n t h e " R o t h s c h i l d d ' a u t r e f o i s . "
34
S o l o m o n ,
w h o w a s t h e n a g a i n s t a y i n g i n P a r i s , s t a t e d d e f i n i t e l y t h a t
n o o n e , a n d h e l e a s t o f a l l , w o u l d e v e r a g a i n l e n d t h e
g o v e r n m e n t a t M a d r i d a s i n g l e s o u .
M e t t e r n i c h ' s r e s e n t m e n t a g a i n s t t h e R o t h s c h i l d s k e p t
i n c r e a s i n g , a l t h o u g h h e s t i l l h a n d l e d t h e m w i t h v e l v e t
g l o v e s . M e t t e r n i c h ' s p o l i c e i n t e r c e p t e d a l e t t e r f r o m
L i o n e l i n L o n d o n t o h i s u n c l e . 35 L i o n e l s p o k e o f t h e h i g h l y
u n f a v o r a b l e i m p r e s s i o n w h i c h h a d b e e n c r e a t e d b y t h e
n e w s t h a t D o n C a r l o s h a d c r o s s e d t h e E b r o , s t a t i n g t h a t
B r i t i s h c o n s o l s a n d S p a n i s h s e c u r i t i e s h a d b o t h f a l l e n
s h a r p l y , a n d t h a t t h e w h o l e o u t l o o k w a s e x c e e d i n g l y
g l o o m y . T h e b a d n e w $ f r o m S p a i n
a n d
P o r t u g a l w a s
14 6

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
e n t i r e l y t o b l a m e f o r t h e p r e s e n t p a n i c
. I t w a s e s s e n t i a l
t o b e p a t i e n t , o n l y G o d c o u l d b r i n g e v e r y t h i n g r i g h t .
" I a m t o o u n h a p p y , " w r o t e L i o n e l , " t o w r i t e a t l e n g t h ;
t h e p e e r s h a v e t h e u p p e r h a n d , a n d p o l i t i c a l d e v e l o p -
m e n t s , a s w e l l a s t h e s t u p i d m e a s u r e s t a k e n b y t h e G o v -
e r n m e n t h e r e , f a v o r t h e i r a c t i v i t i e s . T h e b e s t t h i n g i s
t o r e m a i n c a l m i n o r d e r t o a c t w h e n w e s e e m o r e c l e a r l y .
T o d a y i t w a s s t a t e d h e r e t o o t h a t D o n C a r l o s h a d c r o s s e d
t h e E b r o , a n d t h a t d i s t u r b a n c e s w o u l d b r e a k o u t i n N a -
p l e s . T h e B e l g i a n C h a r g e d ' A f f a i r e s i n f a c t s a i d t o u s
t o d a y t h a t S i r B o w r i n g
33
h a d l e f t f o r N a p l e s o n a G o v -
e r n m e n t m i s s i o n . I a m a f r a i d t h a t i f t h e A u s t r i a n s e n t e r
N a p l e s , L o u i s P h i l i p p e w i l l b e f o r c e d t o i n t e r v e n e i n
S p a i n . P r i c e s s u d d e n l y f e l l a b r u p t l y t o w a r d s t h e c l o s i n g
o f t h e B o u r s e , a n d I f e a r t h a t t h e c a r r i e r p i g e o n s e r v i c e
w i l l b r i n g n e w s o f a s t i l l f u r t h e r d e c l i n e . I b e l i e v e t h e
E n g l i s h w i l l g r a d u a l l y b r i n g a l o t o f r e n t e s i n t o t h e m a r -
k e t , w h i c h i s b o u n d t o h a v e a n i n f l u e n c e . W e w i l l h o p e
f o r t h e b e s t . "
O n r e c e i v i n g t h e c o p y o f t h i s i n t e r c e p t e d l e t t e r , M e t -
t e r n i c h i m m e d i a t e l y s e n t i t f o r w a r d t o t h e A u s t r i a n m i n -
i s t e r a t N a p l e s , t e l l i n g h i m t o w a t c h t h e s u s p i c i o u s L i b -
e r a l e m i s s a r y a n d r e p o r t a s t o t h e a l l e g e d r e v o l u t i o n s a t
N a p l e s .
T h e r e u p o n t h e T e m p s p u b l i s h e d a n a r t i c l e r e g a r d i n g
p o s s i b l e i n t e r v e n t i o n b y A u s t r i a i n N a p l e s w h i c h v e r y
m u c h a n n o y e d M e t t e r n i c h . T h e c h a n c e l l o r w r o t e t h e f o l -
l o w i n g l e t t e r t o H u g e l f o r S o l o m o n ' s b e n e f i t .
" I r e q u e s t y o u , " t h e l e t t e r r a n , 37 " t o r e a d t h i s l e t t e r t o
B a r o n S o l o m o n v o n R o t h s c h i l d . I w i s h t h i s t o b e d o n e ,
s i n c e I k n o w h i s h o n e s t n a t u r e a n d g e n u i n e p r i n c i p l e s .
" I t i s g e n e r a l l y k n o w n t h a t t h e M i n i s t e r M o n t a l i v e t
a n d B a r o n J a m e s a r e o n i n t i m a t e t e r m s , a n d t h a t t h e
M i n i s t e r h a s a d e f i n i t e i n f l u e n c e o n t h e e d i t o r i a l p o l i c y
o f t h e T e m p s
. N o w t h a t p a p e r h a s a g r e a t d e a l t o a n s w e r
f o r i n t h e a r t i c l e s i n w h i c h i t h a s j u s t p u b l i s h e d t o t h e
w o r l d a l i e t o t h e e f f e c t t h a t A u s t r i a c o n t e m p l a t e s s e n d i n g
T h e R o t h s c h i l d s a n d t h e S p a n i s h T h r o n e
14 7
t r o o p s t o N a p l e s , w i t h t h e r e s u l t t h a t p o l i t i c a l c o m p l i c a -
t i o n s w i l l a r i s e b e t w e e n o u r s e l v e s a n d F r a n c e
. A l m o s t
w o r s e i s t h e s t a t e m e n t w h i c h a p p e a r e d v e r y s h o r t l y a f t e r -
w a r d s t o t h e e f f e c t t h a t t h e r e w a s n o f u r t h e r q u e s t i o n o f
s e n d i n g s u c h t r o o p s , s i n c e A u s t r i a w o u l d t h i n k t w i c e
b e f o r e e x p o s i n g h e r s e l f t o t h e c o n s e q u e n c e s o f s u c h a
v e n t u r e l
" T h e s e t w o e n t i r e l y i m a g i n a r y s t a t e m e n t s c o n t a i n t h e
m o s t d a n g e r o u s m a t t e r f o r a n e w s p a p e r t h a t i s o n c o n f i -
d e n t i a l t e r m s w i t h t h e F r e n c h M i n i s t r y , t o g i v e f o r t h
t o t h e w o r l d
. T h e y e n c o u r a g e t h e s p i r i t o f f a c t i o n a n d
r e v o l t , w h i l e t h e y p l a c e a q u i e t a n d s e r i o u s g o v e r n m e n t
s u c h a s o u r s i n t h e a w k w a r d p o s i t i o n t h a t w e d o n ' t k n o w
w h e t h e r t o s p e a k o r t o b e s i l e n t . I f t h e T e m p s w e r e n o t
c l o s e l y a s s o c i a t e d w i t h t h e F r e n c h M i n i s t r y , t h e r e w o u l d
b e n o t h i n g i n t h i s m a t t e r
; I w o u l d p a s s i t o v e r a s I p a s s
o v e r t h e d a i l y p a c k o f l i e s t h a t i s s u e f r o m t h e r e v o l u t i o n -
a r y p r e s s . B u t t h e c a s e h e r e i s e n t i r e l y d i f f e r e n t .
" I w a n t B a r o n S o l o m o n c o n f i d e n t i a l l y t o c o n v e y t h e s e
c o n s i d e r a t i o n s t o h i s b r o t h e r , a n d t o r e q u e s t h i m , o n m y
b e h a l f , t o u s e h i s i n f l u e n c e t o s e e t h a t t h i s k i n d o f t h i n g
d o e s n o t o c c u r a g a i n
. I w a n t t h i s t o b e d o n e i n t h e i n t e r e s t s
o f t h e H o u s e o f R o t h s c h i l d i t s e l f , a s r e m a r k s f r o m s e v e r a l
q u a r t e r s a b r o a d h a v e r e a c h e d m e , a t t r i b u t i n g t h e s e a r -
t i c l e s t o a s p e c u l a t i o n b y t h e H o u s e i n N e a p o l i t a n f u n d s .
T h e r e i s n o b o d y m o r e i n c l i n e d t o r e g a r d t h i s a s a s l a n d e r
t h a n I ; t h a t i s p r e c i s e l y w h y I a m t a k i n g t h i s s t e p . B a r o n
S o l o m o n k n o w s m y a t t i t u d e t o o w e l l f o r i t t o b e n e c e s -
s a r y f o r m e t o s a y a n y t h i n g m o r e . I t w i l l b e e n o u g h f o r
y o u t o l e t h i m k n o w m y w i s h e s a n d h e w i l l d o w h a t i s
r i g h t . "
H i i g e l r e a d M e t t e r n i c h ' s l e t t e r t o t h e t w o b r o t h e r s a n d
t h o u g h t t h e y h a d u n d e r s t o o d , a n d p a r t i c u l a r l y t h a t J a m e s
w a s b e g i n n i n g t o r e a l i z e t h a t i n i n t e r v e n i n g i n p o l i t i c a l
m a t t e r s h e h a d p l a y e d a s o r r y p a r t . J a m e s w a s n o t a s
p e n i t e n t a s H i i g e l t h o u g h t , b u t h e p r e t e n d e d t o b e w h i l e
t h e c h a r g e d ' a f f a i r e s w a s t a l k i n g t o h i m . S B
14 8

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
T h e r e w e r e i n f a c t n o d i s t u r b a n c e s a t N a p l e s , a n d t h e
i n c i d e n t s i m p l y s e r v e d t o g i v e a g l i m p s e o f t h e w a y i n
w h i c h t h e R o t h s c h i l d s c o l l a b o r a t e d w i t h s o m e o f t h e
F r e n c h m i n i s t e r s , a n d t o r e v e a l t h e i r i n f l u e n c e u p o n l e a d -
i n g P a r i s p a p e r s .
T o w a r d t h e e n d o f 18 37 S p a i n w a s a g a i n e n g a g i n g
t h e a n x i o u s a t t e n t i o n o f t h e b r o t h e r s a s t h e C o r t e s , a t t h e
i n s t i g a t i o n o f t h e R o t h s c h i l d s ' r i v a l s , w a s q u e s t i o n i n g t h e
v a l i d i t y o f t h e q u i c k s i l v e r m i n e s c o n t r a c t , a n d o f t h e v a r i -
a t i o n s w h i c h h a d b e e n m a d e i n i t . W e i s w e i l l e r , t h e
R o t h s c h i l d a g e n t a t M a d r i d , m a d e e v e r y e f f o r t t o m a i n -
t a i n t h e l e g a l v a l i d i t y o f t h e c o n t r a c t . T h e f i r m o f Z u l u e t a ,
w h i c h h a d a t t h e t i m e c o m p e t e d w i t h t h e H o u s e o f
R o t h s c h i l d f o r t h e c o n t r a c t , b a s e d i t s o b j e c t i o n o n t h e
f a c t t h a t t h e l a t t e r h a d a t t h e t i m e o f f e r e d o n l y 5o , s u b -
j e c t t o t h e p r o v i s o t h a t i f a n y b o d y o f f e r e d 54 t h e y w o u l d
p a y 55 . - S u c h a p r o c e d u r e h a d , h o w e v e r , b e e n i r r e g u l a r .
T h e R o t h s c h i l d a g e n t a l s o c a l l e d i n t h e a s s i s t a n c e o f
t h e E n g l i s h a n d F r e n c h m i n i s t e r s t o t h e S p a n i s h g o v -
e r n m e n t , w h o b o t h m a d e r e p r e s e n t a t i o n s o n b e h a l f o f
t h e H o u s e o f R o t h s c h i l d . T h e S p a n i s h m i n i s t r y a l s o r e p -
r e s e n t e d t o t h e C o r t e s t h a t t h e q u i c k s i l v e r c o n t r a c t w a s
a n i m p o r t a n t a n d u s e f u l o n e t o t h e S p a n i s h s t a t e .
" H o w e v e r t h a t m a y b e , " C o u n t A p p o n y i r e p o r t e d w i t h
r e f e r e n c e t o t h e e f f e c t o f t h i s c o n t r e t e m p s o n J a m e s R o t h s -
c h i l d s e " h e a p p e a r s t o b e i n a s t a t e o f t h e m o s t e x t r a o r d i -
n a r y e x c i t e m e n t a t t h i s a t t e m p t o f t h e C o r t e s t o d e p r i v e
h i m o f a b u s i n e s s w h i c h a t a n a p p r o x i m a t e e s t i m a t e m u s t
y i e l d h i m a n a n n u a l i n c o m e o f f r o m o n e a n d a f o u r t h t o
t w o m i l l i o n f r a n c s . H e w i l l n o d o u b t i n t h e e n d b e g u i d e d
b y t h e d i r e c t i o n i n w h i c h h i s i n t e r e s t s l i e , a n d w i l l f i n d
r o u n d a b o u t m e a n s a t t h e s a c r i f i c e o f a c e r t a i n a m o u n t o f
m o n e y t o s e c u r e a b u s i n e s s w h i c h i s a s o u r c e o f s u c h c o n -
s i d e r a b l e p r o f i t t o h i s H o u s e . "
I t w a s a l s o c u r r e n t g o s s i p i n P a r i s t h a t t h e q u i c k s i l v e r
a g r e e m e n t h a d n o t g o n e t h r o u g h w i t h o u t a c e r t a i n a m o u n t
M a r i e C h r i s t i n e , Q u e e n o f S p a i n
T h e R o t h s c h i l d s a n d t h e S p a n i s h ' T h r o n e t 9
o f m o n e y h a v i n g p a s s e d u n d e r t h e t a b l e , a n d t h a t t h e
H o u s e o f R o t h s c h i l d w e r e n o w t h r e a t e n i n g d i s c l o s u r e s ;
s o t h a t a f r i e n d l y s o l u t i o n w o u l d a p p e a r t o b e i n t h e i n -
t e r e s t o f b o t h p a r t i e s . I n t h e e n d a n a g r e e m e n t w a s
r e a c h e d b y i n c r e a s i n g t h e a m o u n t p a y a b l e t o t h e S p a n i s h
g o v e r n m e n t i n r e s p e c t o f e a c h h u n d r e d w e i g h t o f q u i c k -
s i l v e r r a i s e d , a n d b y g r a n t i n g n e w a d v a n c e s o n r o y a l t i e s .
A p a r t f r o m t h i s , a f t e r t h e d e a t h o f N a t h a n t h e R o t h s -
c h i l d s h a d p r a c t i c a l l y n o t h i n g m o r e t o d o w i t h S p a n i s h
l o a n s , e x c e p t u n d e r F r e n c h a n d E n g l i s h g u a r a n t y , a n d
i n s u c h c a s e s M e t t e r n i c h w a s a l w a y s a d v i s e d
.
I n M a r c h , 18 38 , t h e s e c r e t a g e n t K l i n d w o r t h , w h o m
C o u n t A p p o n y i w a s u s i n g t o a n i n c r e a s i n g e x t e n t , a g a i n
s t a t e d t h a t t h e R o t h s c h i l d s w e r e n e g o t i a t i n g f o r a f u r t h e r
S p a n i s h l o a n . M e t t e r n i c h a g a i n a s k e d S o l o m o n w h a t t h i s
m e a n t , w i t h t h e r e s u l t t h a t J a m e s w e n t t o s e e A p p o n y i
i n a s t a t e o f h i g h i n d i g n a t i o n , a s k i n g h i m t o i n f o r m h i s
c h i e f o f t h e f a l s i t y o f t h i s r u m o r a b o u t t h e l o a n .
" B a r o n J a m e s v o n R o t h s c h i l d , " C o u n t A p p o n y i r e -
p o r t e d , 4 0 " w h o h a s u n d o u b t e d l y f o r e s e e n t h a t r u m o r s o f
f i n a n c i a l t r a n s a c t i o n s w o u l d c o m e t o m y k n o w l e d g e , h a s
g i v e n m e t h e m o s t f o r m a l a s s u r a n c e t h a t h e n o t o n l y h a s
r e f u s e d t o t a k e p a r t i n a n y l o a n i n f a v o r o f t h e S p a n i s h
G o v e r n m e n t , b u t a l s o h a s d e c l i n e d a n y f i n a n c i a l o p e r a -
t i o n , t h e o b j e c t o f w h i c h w o u l d b e t o r a i s e m o n e y f o r
S p a i n . H e m o s t p o s i t i v e l y d e n i e s a l l i m p u t a t i o n s o f t h i s
n a t u r e , a n d a s k e d m e t o i n f o r m y o u r H i g h n e s s o f t h i s
m o s t f o r m a l d e c l a r a t i o n b y h i m . B a r o n R o t h s c h i l d h a s
e x p r e s s l y a n d s p o n t a n e o u s l y i n s t r u c t e d m e t o g i v e y o u r
H i g h n e s s h i s w o r d t h a t h e w i l l n e v e r e n g a g e i n a l o a n
t o t h e S p a n i s h G o v e r n m e n t w i t h o u t f i r s t b e i n g a u t h o r i z e d
t o d o s o b y y o u r H i g h n e s s . "
T h u s M e t t e r n i c h f e l t t h a t t h r o u g h h i s o b s t i n a t e i n s i s -
t e n c e h e h a d a t l a s t s u c c e e d e d i n s t o p p i n g f u r t h e r p a y -
m e n t s o f m o n e y b e i n g m a d e a t a n y r a t e b y t h e H o u s e
o f R o t h s c h i l d t o t h e g o v e r n m e n t o f t h e q u e e n r e g e n t ,
15o

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
w h i l e h e h i m s e l f w a s c o n s t a n t l y s u p p l y i n g D o n C a r l o s
w i t h m o n e y , a n d w a s a l s o o b t a i n i n g s u p p o r t f o r h i m f r o m
t h e s t a t e s a l l i e d t o A u s t r i a
.
A l l h i s e f f o r t s , h o w e v e r , p r o v e d o f n o a v a i l , f o r D o n
C a r l o s l a c k e d t h e p e r s o n a l i t y t o e s t a b l i s h h i s p o s i t i o n .
T h e c h a n g i n g v i c i s s i t u d e s o f t h i s W a r o f t h e S p a n i s h
S u c c e s s i o n e n d e d b y D o n C a r l o s b e i n g f i n a l l y d r i v e n
o u t o f t h e f i e l d b y t h e q u e e n r e g e n t ' s G e n e r a l E s p a r t e r o ,
t h e s o n o f a w o r k m a n
. H e w a s f o r c e d t o f l e e f r o m S p a i n
a n d n o l o n g e r m e n a c e d t h e R o t h s c h i l d s i n t h e i r p o s s e s -
s i o n o f t h e q u i c k s i l v e r m i n e s
. N a t h a n w a s j u s t i f i e d ;
t h e v a l u a b l e q u i c k s i l v e r m i n e s r e m a i n e d i n t h e f a m i l y ' s
p o s s e s s i o n , a n d b e c a m e a s o u r c e o f v e r y c o n s i d e r a b l e
p r o f i t
. T h e H o u s e o w n e d t h e m u n t i l t h e y e a r 18 6 3, w h e n
t h e y w e r e a g a i n t a k e n o v e r b y t h e S p a n i s h g o v e r n m e n t
.
B y t h a t t i m e r i c h e r m i n e s h a d b e e n d i s c o v e r e d i n t h e
n e w w o r l d , a n d t h e R o t h s c h i l d m o n o p o l y h a d b e e n
b r o k e n d o w n
. T h i s e x a m p l e o f t h e i r b u s i n e s s i n S p a i n r e -
v e a l s p a r t i c u l a r l y c l e a r l y h o w c l o s e l y p o l i t i c s a n d b u s i -
n e s s w e r e i n t e r d e p e n d e n t a t t h a t t i m e
.
C H A P T E R V
S h a k i n g T h r o n e s
I
N T H E m i d s t o f t h e i r a c t i v i t i e s i n h i g h p o l i t i c s t h e
b r o t h e r s R o t h s c h i l d o n t h e C o n t i n e n t c o n t i n u e d t o
e n g a g e i n g r e a t i n d u s t r i a l a n d t r a n s p o r t u n d e r t a k i n g s .
T h e y w e r e i n e v i t a b l y d r i v e n t o d o s o b y t h e f u n d s t h a t
k e p t a c c u m u l a t i n g i n t h e i r c o f f e r s . A f t e r r a i l w a y s t h e y
t u r n e d t h e i r a t t e n t i o n t o s t e a m s h i p s , a n d h e r e a g a i n S o l o -
m o n R o t h s c h i l d p r o f i t e d b y w h a t c o u l d b e l e a r n e d i n E n g -
l a n d , a n d b y t h e B r i t i s h e x a m p l e , c a l l i n g i n t o b e i n g i n
o t h e r c o u n t r i e s s u c h a s A u s t r i a t h e c o n c e r n s t h a t h e f o u n d
f l o u r i s h i n g i n G r e a t B r i t a i n . T h i s w a s i n d i c a t e d b y t h e
v e r y n a m e o f t h e b i g A u s t r i a n s t e a m s h i p l i n e i n w h i c h
S o l o m o n i n t e r e s t e d h i m s e l f f i n a n c i a l l y . L l o y d w a s t h e
n a m e g i v e n t o t h e s h i p p i n g c o m p a n y b y t h e s h i p o w n e r s
a n d i n s u r e r s o f m e n a n d m e r c h a n d i s e w h o m e t a n d d i d
b u s i n e s s i n t h e L o n d o n c o f f e e h o u s e o w n e d b y M r . L l o y d .
T h e n e w A u s t r i a n u n d e r t a k i n g w h i c h c a m e i n t o b e i n g
i n 18 35, l a r g e l y w i t h t h e a s s i s t a n c e o f R o t h s c h i l d c a p i t a l ,
w a s g i v e n t h e s a m e n a m e .
A t t h a t t i m e t h e p o s s i b i l i t i e s o f s t e a m s h i p s w e r e h a r d l y
u n d e r s t o o d , a n d t h e y w e r e u s e d o n l y f o r p a s s e n g e r t r a f f i c .
O n e o f t h e f i r s t m e m o r a n d a s e n t i n b y t h e A u s t r i a n L l o y d
t o t h e g o v e r n m e n t 1 c o n t a i n e d t h e w o r d s , " s t e a m e r s n e v e r
c a n a n d n e v e r w i l l b e c o m e f r e i g h t s h i p s "
; a n d t h i s
v i e w w a s a t t h a t t i m e a l s o s h a r e d b y S o l o m o n R o t h s -
c h i l d .
E v e r y n e w u n d e r t a k i n g o f i m p o r t a n c e i n w h i c h S o l o -
m o n ' s m o n e y w a s a f a c t o r s e r v e d t o c o n s o l i d a t e h i s p o -
s i t i o n i n V i e n n a . E v e n t h o u g h h e m i g h t b e f a r a w a y , a s
a t t h e t i m e o f t h e c h o l e r a e p i d e m i c , S o l o m o n c o n t r i b u t e d
' 5I
152

T h e R e i g n o f t h e H o u s e
o f R o t h s c h i l d
l a r g e l y t o t h e h o s p i t a l s a n d t o o r g a n i z a t i o n s f o r f i g h t i n g
t h e d i s e a s e , a n d t h e r e b y , a l t h o u g h p e r s o n a l l y o u t o f
d a n g e r , h e w o n f a v o r w i t h t h e A u s t r i a n o f f i c i a l s .
T h e r e w a s s c a r c e l y a n y u n d e r t a k i n g o f i m p o r t a n c e i n
t h e m o n a r c h y i n w h i c h t h e R o t h s c h i l d s w e r e n o t f i n a n -
c i a l l y i n t e r e s t e d . T h e V i e n n a a u t h o r i t i e s , w i s h i n g t o c o m -
m e m o r a t e t h r o u g h s o m e p e r m a n e n t m e m o r i a l t h e n e w
e m p e r o r ' s a c c e s s i o n t o t h e t h r o n e , h i t u p o n t h e i d e a o f
c o n s t r u c t i n g a l a r g e a q u e d u c t f r o m t h e D a n u b e t o t h e
u p p e r s u b u r b s o f V i e n n a , ' a s t h e v e r y d r y s u m m e r h a d
o c c a s i o n e d a g r e a t s h o r t a g e o f w a t e r . R o t h s c h i l d a n d S i n a
w e r e a s k e d t o h e l p w i t h t h i s s c h e m e t o o , t h e f o r m e r
c o n t r i b u t i n g 2 5, 000 f l o r i n s .
A s t i m e p a s s e d , t h e R o t h s c h i l d s ' w e a l t h b e c a m e i n c o n -
c e i v a b l y v a s t , a n d V i e n n a s o c i e t y , o t h e r w i s e e x c l u s i v e ,
w a s s o d a z z l e d b y i t t h a t i t b e g a n t o f e t e S o l o m o n , a n d
a d m i t h i m t o i t s c i r c l e s . M e t t e r n i c h a n d t h e n e x t m o s t
p o w e r f u l m a n i n A u s t r i a , C o u n t K o l o w r a t , w e r e o f t e n t o
b e s e e n d i n i n g w i t h t h e b a n k e r . K i i b e c k r e l a t e s t h a t m a n y
p e o p l e w e r e a n n o y e d w i t h h i m o n t h a t a c c o u n t , a n d n o t e s
t h e f o l l o w i n g i n c i d e n t i n h i s d i a r y
" A f e w d a y s a g o C o u n t K o l o w r a t w a s d i n i n g w i t h
R o t h s c h i l d t h e b a n k e r . S o m e p e o p l e o f h i s o w n p o s i t i o n
i n s o c i e t y t o l d h i m t h a t t h i s w a s g i v i n g o f f e n s e . ` W h a t
w o u l d y o u h a v e h a d m e d o ? ' h e s a i d . ' R o t h s c h i l d a t t a c h e d
s u c h e n o r m o u s i m p o r t a n c e t o m y c o m i n g t h a t I h a d t o
s a c r i f i c e m y s e l f i n t h e i n t e r e s t s o f t h e s e r v i c e , a s t h e s t a t e
n e e d s h i m . M o r e o v e r , I h a v e p r o f i t e d b y s o d o i n g , i n g e t -
t i n g R o t h s c h i l d t o m a k e a d o n a t i o n o f o n e t h o u s a n d f l o r i n s
C o n v e n t i o n c u r r e n c y t o t h e p o o r , t h e J e w a g r e e i n g t o
t h i s w h e n I a s k e d h i m , o u t o f s h e e r p l e a s u r e a t m y h a v i n g
c o m e . '
" T h e a c t u a l f a c t s a r e a s f o l l o w s : w h e n t h e c h a m p a g n e
w a s g o i n g r o u n d f o r t h e t o a s t , R o t h s c h i l d r o s e t o m a k e
a s p e e c h t o C o u n t K o l o w r a t i n w h i c h h e s a i d , ` Y o u r E x -
c e l l e n c y h a s g i v e n m e a s m u c h p l e a s u r e t o d a y a s i f I h a d
b e e n g i v e n a t h o u s a n d f l o r i n s C . C . , o r g i v e n t h e m t o a
S h a k i n g T h r o n e s

153
p o o r m a n . ' T h e r e u p o n C o u n t K o l o w r a t r e p l i e d , ` V e r y
w e l l , g i v e m e t h e t h o u s a n d f l o r i n s f o r a p o o r m a n w h o
n e e d s h e l p , a n d h a s a p p l i e d t o m e
. ' R o t h s c h i l d p r o m i s e d
t o d o s o , a n d a f t e r d i n n e r C o u n t K o l o w r a t w a s g i v e n
t h e t h o u s a n d f l o r i n s . "
A n e x t r a c t f r o m t h e d i a r y o f M e t t e r n i c h ' s w i f e a l s o
g i v e s s o m e i d e a o f t h e i m p r e s s i o n w h i c h t h e R o t h s c h i l d
w e a l t h m a d e e v e r y w h e r e . ' " I w a s d i n i n g a t f i v e o ' c l o c k
w i t h o u r f r i e n d S o l o m o n R o t h s c h i l d
. C o u n t a n d C o u n t e s s
S a i n t e - A u l a i r e , t h e M a l t z a h n w o m a n , t h e o l d P r i n c e s s
M a r i e E s t e r h a z y , t h e P r i n c e s s , M a d a m e C h o r i n -
s k y a n d M a d a m e S e d l n i t z k y , C l e m e n s a n d I w e r e a t t h e
d i n n e r , w h i c h w a s e x c e l l e n t
. R o t h s c h i l d h a s a f a m o u s
F r e n c h c o o k , a n d h e o f c o u r s e h a d h i s o w n s p e c i a l d i s h e s .
H i s h o m e i n t h e R o m i s c h e K a i s e r i s v e r y p l e a s a n t a n d
a t t r a c t i v e . W e r t h e i m s t e i n a n d G o l d s c h m i d t h e l p e d i n
d o i n g t h e h o n o r s . R o t h s c h i l d h a s a m a g n i f i c e n t c o l l e c t i o n
o f a n t i q u e s , w h i c h h e s h o w e d u s , a n d w h i c h h e m e a n s t o
l e a v e t o h i s s o n
. W e a l s o s a w R o t h s c h i l d ' s s a f e , w h i c h
i s u n d o u b t e d l y t h e m o s t b e a u t i f u l p a r t o f t h e h o u s e . I t
c o n t a i n s t w e l v e g l o r i o u s m i l l i o n s . I t m a d e m e f e e l q u i t e
m e l a n c h o l y
. H o w m u c h g o o d o n e c o u l d d o w i t h a q u a r -
t e r o f t h i s s u m I "
T h e P r i n c e s s M e l a n i e w a s c o n s t a n t l y i n n e e d o f P a r i s
f r o c k s a n d s u c h t h i n g s , a n d g o t B e t t y R o t h s c h i l d i n P a r i s ,
a n d C a r l ' s w i f e a t N a p l e s , t o b u y t h e s e t h i n g s f o r h e r ,
n a t u r a l l y p a y i n g f o r t h e m h e r s e l f . T h e y w e r e t h e n s e n t t o
V i e n n a b y s p e c i a l c o u r i e r . O n s u c h o c c a s i o n s b o t h l a d i e s
w o u l d s e n d l i t t l e p r e s e n t s a s a m a r k o f f r i e n d s h i p . T h e
p a c k a g e s g r a d u a l l y g r e w s o b u l k y t h a t t h e c o u r i e r s o m e -
t i m e s r e f u s e d t o t a k e t h e m .
T h e R o t h s c h i l d s h a d t h e v e r y g r e a t e s t i n t e r e s t i n r e -
t a i n i n g t h e f r i e n d s h i p o f t h e M e t t e r n i c h s , f o r t h e y w e r e
c o n s t a n t l y h a v i n g t o c o m e t o t h e c h a n c e l l o r o n a l l k i n d s
o f m a t t e r s . A t o n e t i m e h e w o u l d b e a s k e d t o b r i n g d i p l o -
m a t i c p r e s s u r e t o b e a r u p o n t h e s t a t e o f N a p l e s i n c o n -
n e c t i o n w i t h a f i n a n c i a l c l a i m o f C a r l R o t h s c h i l d ' s o n
154

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
S i c i l y , 4 a t a n o t h e r t o a p p o i n t m e m b e r s o f t h e R o t h s c h i l d
f a m i l y a s A u s t r i a n c o n s u l s - g e n e r a l .
L o n g b e f o r e t h e d e a t h o f h i s b r o t h e r N a t h a n S o l o m o n
w a n t e d t o o b t a i n s o m e o f f i c i a l p o s i t i o n f o r h i s s o n A n s e l m ,
w h o l i v e d a t F r a n k f o r t ; a n d h i s i d e a w a s t h a t A u s t r i a
s h o u l d c r e a t e a c o n s u l a t e - g e n e r a l a t F r a n k f o r t , w h e r e
n o n e a s y e t e x i s t e d . S o l o m o n a p p r o a c h e d M e t t e r n i c h o n
t h e m a t t e r , e m p h a s i z i n g t h a t t h e o f f i c e w o u l d b e u n p a i d ,
n a t u r a l l y a n i m p o r t a n t c o n s i d e r a t i o n . M e t t e r n i c h i n -
q u i r e d o f B a r o n v o n H a n d e l , t h e m i n i s t e r - r e s i d e n t a t
F r a n k f o r t , w h e t h e r i t w a s d e s i r a b l e t o c r e a t e a c o n s u l a t e -
g e n e r a l t h e r e , a n d w h e t h e r i n t h a t c a s e S o l o m o n ' s s o n
w o u l d b e a s u i t a b l e p e r s o n f o r t h e o f f i c e . H a n d e l a n s w e r e d
b o t h q u e s t i o n s i n t h e a f f i r m a t i v e .
W i t h r e g a r d t o t h e c a n d i d a t e , h e w r o t e
:
a
" B a r o n A n -
s e l m v o n R o t h s c h i l d c o m b i n e s w i t h t h e r i c h e s , c r e d i t ,
a n d i n f l u e n c e o f t h e H o u s e t o w h i c h h e b e l o n g s , a l l t h e
m o r a l a n d i n t e l l e c t u a l q u a l i t i e s t h a t m a k e h i m a s u i t -
a b l e p e r s o n f o r f i l l i n g t h i s o f f i c e . I v e n t u r e t o g u a r a n t e e
t h a t n o o b j e c t i o n t o s u c h a n a p p o i n t m e n t w i l l b e r a i s e d
b y t h e s e n a t e o f t h e f r e e c i t y o f F r a n k f o r t , e s p e c i a l l y s i n c e
B a r o n C a r l v o n R o t h s c h i l d [ A n s e l m ' s u n c l e ] h a s b e e n
a p p o i n t e d h i s S i c i l i a n M a j e s t y ' s c o n s u l - g e n e r a l h e r e . "
H e a d d e d t h a t " o n l y s u c h a p e r s o n c o u l d b e a p p o i n t e d
t o t h e p o s i t i o n a s p o s s e s s e d t h e i n t e l l e c t u a l q u a l i t i e s a n d
t h e n e c e s s a r y m e a n s t o c a r r y o u t t h e o f f i c e w i t h d u e d i g -
n i t y , t h e r e b e i n g n o e m o l u m e n t s o f a n y k i n d c o n n e c t e d
w i t h i t , " a n d i n v i e w o f t h i s c o n s i d e r a t i o n A n s e l m w a s
d u l y a p p o i n t e d . ' T h e s e n a t e o f t h e f r e e c i t y o f F r a n k -
f o r t , o n b e i n g o f f i c i a l l y i n f o r m e d o f t h e a p p o i n t m e n t , e x -
p r e s s e d i t s e l f a s s a t i s f i e d w i t h i t , s u b j e c t t o t h e f o l l o w i n g
l i m i t a t i o n s
" T h e I s r a e l i t e c i t i z e n , B a r o n A n s e l m S o l o m o n v o n
R o t h s c h i l d , i s h e r e b y r e c o g n i z e d a s I m p e r i a l a n d R o y a l
A u s t r i a n C o n s u l - G e n e r a l , s u b j e c t t o t h e r e s e r v a t i o n s t h a t
t h i s i n n o w a y a f f e c t s h i s p o s i t i o n a s a n I s r a e l i t e c i t i z e n
o f t h i s F r e e C i t y , a n d t h a t h e w i l l c o n t i n u e t o b e i n t h e
S h a k i n g T h r o n e s

I S S
f u t u r e a s h e h a s b e e n i n t h e p a s t , s u b j e c t t o t h e l a w s a n d
j u r i s d i c t i o n o f t h i s F r e e C i t y , a n d t o t h e a u t h o r i t i e s
h e r e . "
7
A n s e l m w r o t e t o M e t t e r n i c h i n t e r m s o f m o s t r e s p e c t -
f u l g r a t i t u d e , s t a t i n g t h a t h e w a s w e l l a w a r e t h a t h e
o w e d t h e a p p o i n t m e n t e n t i r e l y " t o M e t t e r n i c h ' s g r a -
c i o u s s u p p o r t , a n d t o h i s p o w e r f u l i n f l u e n c e
. " 8
M a t t e r s d i d n o t p r o c e e d s o s m o o t h l y w i t h r e g a r d t o
t h e a p p o i n t m e n t o f L i o n e l i n L o n d o n , a b o u t w h i c h N a -
t h a n h a d e x p r e s s e d s u c h h e a r t f e l t w i s h e s o n h i s d e a t h - b e d .
D u r i n g t h e l a t t e r p a r t o f N a t h a n ' s p e r i o d o f o f f i c e , v a r i -
o u s c o m p l a i n t s h a d b e e n r e c e i v e d , m o r e e s p e c i a l l y f r o m
t h e m e r c a n t i l e a u t h o r i t i e s a t T r i e s t e , a c c u s i n g h i m o f i n -
d i f f e r e n c e i n t h e p e r f o r m a n c e o f h i s d u t i e s , a n d s u g -
g e s t i n g t h a t " B a r o n R o t h s c h i l d f i n d s i t i m p o s s i b l e t o
t r a n s a c t t h e b u s i n e s s o f t h e A u s t r i a n C o n s u l a t e i n a d d i t i o n
t o h i s o t h e r a f f a i r s , o r e l s e f i n d s s u c h b u s i n e s s e x c e e d i n g l y
i r k s o m e . "
s
S u c h o b j e c t i o n s w e r e a l r e a d y b e i n g m a d e w h e n N a -
t h a n ' s d e a t h m a d e t h e p r o b l e m o f t h e A u s t r i a n c o n s u l a t e -
g e n e r a l a v e r y r e a l o n e
. S o l o m o n ' s p a t h e t i c r e q u e s t , s e n t
f r o m h i s b r o t h e r ' s d e a t h - b e d , h a d l e f t M e t t e r n i c h c o m -
p a r a t i v e l y c o l d , f o r t h e c h a n c e l l o r h a d s e v e r a l g r i e v a n c e s
a g a i n s t L i o n e l R o t h s c h i l d
. I t h a d b e e n h e w h o , a c t i n g
u n d e r h i s f a t h e r ' s i n s t r u c t i o n s , h a d r e m a i n e d a t M a d r i d
t o c a r r y t h r o u g h f i n a n c i a l t r a n s a c t i o n s w i t h t h e q u e e n
r e g e n t , o f w h o m M e t t e r n i c h s o g r e a t l y d i s a p p r o v e d , a n d
W h o h a d i n d e e d b e e n t h e a c t i v e a g e n t o f t h e p o l i c y o f
t h e H o u s e o f R o t h s c h i l d i n S p a i n , w h e r e i t s u p p o r t e d
t h e L i b e r a l C h r i s t i n o s i n s t e a d o f s u p p o r t i n g M e t t e r n i c h ' s
p r o t e g e , D o n C a r l o s
. M e t t e r n i c h t h e r e f o r e d e l a y e d t h e
a p p o i n t m e n t a n d a s k e d f o r i n f o r m a t i o n r e g a r d i n g t h e
" p e r s o n a l q u a l i t i e s o f t h e s a i d L i o n e l - a s t o h i s a g e , h i s
k n o w l e d g e , h i s c a p a c i t y , h i s m o r a l s , h i s p o s i t i o n i n t h e
L o n d o n b r a n c h o f t h e R o t h s c h i l d B a n k , a n d h i s f u t u r e
p r o s p e c t s . "
A l l t h a t M e t t e r n i c h r e a l l y w a n t e d t o d o , h o w e v e r ,
w a s
i 56

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
t o c a u s e L i o n e l a c e r t a i n a m o u n t o f u n e a s i n e s s , a n d h e
h a d m a d e u p h i s m i n d t o g i v e t h e d e p a r t m e n t c o n c e r n e d ,
w h i c h w a s c o n s i d e r i n g t h e a p p o i n t m e n t o f a n o t h e r p e r -
s o n , i n s t r u c t i o n s t o f a v o r L i o n e l .
" I n v i e w o f t h e i m p o r t a n t p o s i t i o n , " h i s n o t e t o t h e
d e p a r t m e n t r a n , 10 " w h i c h t h e H o u s e o f R o t h s c h i l d h o l d s
i n t h e f i n a n c i a l , s c h e m e o f t h e c i v i l i z e d w o r l d , t h e a p p l i -
c a t i o n i n q u e s t i o n c e r t a i n l y s e e m s t o d e s e r v e f a v o r a b l e
c o n s i d e r a t i o n , a s o t h e r w i s e t h a t H o u s e m i g h t b e c o m e i n -
d i f f e r e n t , o r e v e n h o s t i l e , t o A u s t r i a ' s i n t e r e s t s . "
M e a n w h i l e t h e r e p o r t a s k e d f o r f r o m t h e L o n d o n e m -
b a s s y a r r i v e d , h a v i n g a g a i n b e e n d r a f t e d b y H e r r v o n
H u m m e l a u e r , w h o w a s s o i l l d i s p o s e d t o t h e R o t h s c h i l d
f a m i l y
.
11
T h e s a i d B a r o n L i o n e l N a t h a n v o n R o t h s c h i l d
[ t h e r e p o r t r a n ] s e e m s t o m e t o b e r a t h e r o l d a t t h i r t y
[ h e w a s a c t u a l l y t w e n t y - e i g h t ] . N o t h i n g h a s e v e r
c o m e t o m y k n o w l e d g e r e f l e c t i n g i n a n y w a y u p o n
h i s p r i v a t e c h a r a c t e r . . . .
S u c h c a p a c i t i e s a s h e m a y d e v e l o p i n t h e c o n d u c t
o f h i s f i r m ' s b u s i n e s s m a y , i n t h e n a t u r a l c o u r s e o f
t h i n g s , b e e x p e c t e d t o b e d e t e r m i n e d b y t h e s c h o o l
i n w h i c h h e h a s g r o w n u p . H i s b u s i n e s s t r a i n i n g h a s
b e e n s u c h a s i s a c q u i r e d t h r o u g h o p e r a t i n g o n t h e
S t o c k E x c h a n g e , a n d t h e t r a n s a c t i o n s o f r e a l i n t e r -
n a t i o n a l t r a d e a r e t h e r e f o r e a s f o r e i g n t o h i m a s t h e y
w e r e t o h i s l a t e f a t h e r . H i s c o n n e c t i o n s w i l l a l s o b e
s u c h a s h e h a s f o r m e d o n t h e S t o c k E x c h a n g e . T h e s e
g e n e r a l c o n s i d e r a t i o n s . . . w h i c h I h a v e a l r e a d y
v e n t u r e d t o a d u m b r a t e i n p r e v i o u s r e p o r t s , t e n d
t o t h e c o n c l u s i o n t h a t a n A u s t r i a n C o n s u l a t e - G e n e r a l
i n L o n d o n i n t h e h a n d s o f t h e H o u s e o f R o t h s c h i l d ,
o r o f a n y o t h e r f i r m o f a s i m i l a r n a t u r e , c o u l d n e v e r
a d e q u a t e l y c a r r y o u t t h e r e q u i r e m e n t s o f A u s t r i a n
t r a d e i n t e r e s t s .
T h e s o n s o f t h e l a t e B a r o n v o n R o t h s c h i l d n e v e r
h e l d i n d i v i d u a l p o s i t i o n s i n t h e c o m m e r c i a l w o r l d
S h a k i n g T h r o n e s

157
h e r e d u r i n g h i s l i f e t i m e . T h e y s h a r e d i n t h e r e s p e c t
w h i c h t h e i r f a t h e r e n j o y e d o n a c c o u n t o f h i s r i c h e s ,
w i t h o u t , h o w e v e r , h a v i n g y e t g i v e n r i s e t o t h e b e l i e f
t h a t t h e y w o u l d a l s o i n h e r i t h i s i n d u s t r y a n d a b i l i t y .
W i t h r e g a r d t o t h e d e l a y a n d n e g l i g e n c e w h i c h h a s
r e p e a t e d l y g i v e n o u r c o a s t i n g - t r a d e a u t h o r i t i e s
c a u s e f o r c o m p l a i n t , s u c h c o m p l a i n t s w o u l d s p e e d i l y
c e a s e i f t h e C o n s u l - G e n e r a l w e r e t o d e v o t e t o t h e s e
m a t t e r s t h e a t t e n t i o n w h i c h i s d u e t o t h e m . W h e t h e r
t h i s i s t o b e e x p e c t e d o f a y o u n g p e r s o n f o r w h o m
t h e C o n s u l a t e - G e n e r a l i s o n l y a s i d e i s s u e - a m a t t e r
o f p e r s o n a l v a n i t y , a n d a l s o t o a c e r t a i n e x t e n t a
m e a n s o f d e m o n s t r a t i n g t o t h e p u b l i c t h a t h i s f i r m ' s
i n f l u e n c e w i t h t h e I . a n d R . c o u r t h a s c o n t i n u e d u n -
i m p a i r e d - i s d i f f i c u l t t o s t a t e w i t h a n y c e r t a i n t y . I f ,
h o w e v e r , t h e I . a n d R . S t a t e D e p a r t m e n t s h o u l d b e
d i s p o s e d t o c o n s i d e r t h e a p p l i c a t i o n f a v o r a b l y , i t
s e e m s t o m e t h a t t h e o n l y w a y o f s e c u r i n g g r e a t e r
d i l i g e n c e i n d e a l i n g w i t h o f f i c i a l c o r r e s p o n d e n c e
w o u l d b e t o a p p o i n t H e r r K i r c h n e r a s s a l a r i e d V i c e -
C o n s u l , o r C o n s u l a r A g e n t . I f e e l t h a t i t w o u l d b e
n e c e s s a r y t o m a k e h i m a s a l a r i e d o f f i c i a l i n o r d e r t o
g i v e h i m a n o f f i c i a l p o s i t i o n , n o t o n l y w i t h r e f e r e n c e
t o t h e o u t s i d e w o r l d , b u t m o r e p a r t i c u l a r l y i n h i s
r e l a t i o n s w i t h h i s y o u n g p r i n c i p a l .
I a m c o n v i n c e d t h a t t h e c h i e f m o t i v e f o r t h e a p p l i -
c a t i o n w h i c h h a s b e e n p u t f o r w a r d b y t h e H o u s e
o f R o t h s c h i l d i s t h e o n e w h i c h I h a v e m e n t i o n e d l a s t
i n t h e p r e c e d i n g p a r a g r a p h . T h e H o u s e m u s t b e p a r -
t i c u l a r l y c o n c e r n e d t o c o n v i n c e t h e p u b l i c t h a t e v e n
i t s d e f e c t i o n t o t h e r a n k s o f t h e r e v o l u t i o n a r y p a r t y
h a s n o t b e e n a b l e t o d a m a g e i t s p o s i t i o n w i t h r e g a r d
t o t h e I . a n d R . G o v e r n m e n t . T h e s u r e s t m e a n s f o r
d o i n g s o w o u l d b e t o s e c u r e a g a i n t h e o f f i c e o f C o n -
s u l - G e n e r a l f o r a m e m b e r o f t h e f a m i l y
; a n d w o u l d
d o u b t l e s s b e r e g a r d e d b y e v e r y m e m b e r o f t h e p u b l i c
a s a c o m p l e t e p r o o f o f w h a t t h e y w i s h t o d e m o n -
s t r a t e .
W h e n M
. M e n d i z a b a l w e n t t o M a r l
r i r t - 4 ~ s t _ ` y e a r _ ; - .
158

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
t h e H o u s e o f R o t h s c h i l d s e n t B a r o n L i o n e l N
. v o n
R o t h s c h i l d t o t h a t c i t y , a n d h e r e s i d e d t h e r e f o r a
c o n s i d e r a b l e t i m e a s a g o - b e t w e e n f o r c a r r y i n g
o u t t h a t s y s t e m o f d e c e p t i o n t o w h i c h h i s H o u s e
a n d t h e S p a n i s h G o v e r n m e n t h a d p l e d g e d t h e m -
s e l v e s
. I a m f a r f r o m w i s h i n g t o i m p u t e a n y p e r -
s o n a l b l a m e t o h i m i n t h i s m a t t e r
. H e w a s c a r r y i n g
o u t t h e i n s t r u c t i o n s o f h i s c h i e f , a n d w a s n o t a f r e e
a g e n t
: n e v e r t h e l e s s t h i s f a c t s t a n d s a g a i n s t h i m a n d
h i s H o u s e .
I n t h e i n e v i t a b l e c o u r s e o f t h e i r d e v e l o p m e n t , t h e
a f f a i r s o f t h e P e n i n s u l a h a v e r e a c h e d a p o i n t w h e r e
t h e S t a t e i s o n t h e v e r g e o f b a n k r u p t c y
. Y o u r H i g h -
n e s s i s a w a r e o f t h e s p e e d w i t h w h i c h S p a n i s h a n d
P o r t u g u e s e p u b l i c s e c u r i t i e s h a v e b e e n f a l l i n g
w i t h i n t h e l a s t f e w w e e k s
. M e n d i z a b a l h a s j u s t
f o r m e d a M i n i s t r y t o m a k e o n e l a s t i n f a m o u s e f f o r t ,
w h i c h w i l l c e r t a i n l y b e f r u i t l e s s
. W e a r e a p p r o a c h -
i n g t h e p o i n t w h e n , t h r o u g h t h e f a l l i n t h e p u b l i c
d e b t c r e a t e d b y t h e c o m b i n e d i n t r i g u e s o f t h e E n g -
l i s h M i n i s t r y a n d M M . M e n d i z a b a l a n d R o t h s c h i l d ,
t h o u s a n d s o f f a m i l i e s i n E n g l a n d a n d o n t h e C o n t i -
n e n t w i l l f i n d t h e m s e l v e s p l u n g e d i n t o p o v e r t y
. T h e
E n g l i s h C a b i n e t a n d M
. M e n d i z a b a l m u s t u n d o u b t -
e d l y b e a r t h e r e s p o n s i b i l i t y f o r o r i g i n a t i n g t h e g e n -
e r a l s c h e m e , b u t t h e f a c t t h a t i t w a s p o s s i b l e t o c a r r y
i t i n t o p r a c t i c e i s a t t r i b u t a b l e e n t i r e l y t o t h e H o u s e
o f R o t h s c h i l d , t o w h o s e n a m e t h e r e f o r e , t h e d e s e r v e d
r e p r o a c h w i l l a t t a c h .
T h i n g s w e r e n o t t o t u r n o u t a s b a d a s a l l t h a t
; v o n
H u m m e l a u e r h a d m e r e l y t a k e n a n o t h e r o p p o r t u n i t y o f
g i v i n g f r e e v e n t t o h i s r a g e a n d i n d i g n a t i o n a g a i n s t t h e
H o u s e o f R o t h s c h i l d
. I f t h e a p p o i n t m e n t w e r e t o g o
t h r o u g h a f t e r a l l , K i r c h n e r , t h e w a t c h d o g a t t h e C o n -
s u l a t e , s h o u l d h a v e a b e t t e r p o s i t i o n , l e s t t h e H o u s e o f
R o t h s c h i l d s h o u l d i n d u c e h i m t o g i v e u p h i s r o l e o f
i e p Q r r Q .
. R o t h s c h i l d a c t i v i t i e s , t h r o u g h b e i n g d r a w n
S h a k i n g T h r o n e s

159
i n t o t h e i r s e r v i c e b y a b e t t e r o f f e r . V o n H u m m e l a u e r
t h e r e f o r e p r o p o s e d t h a t t h i s m a n s h o u l d b e p e r m a n e n t l y
s e c u r e d t o A u s t r i a ' s i n t e r e s t s
. 12
A l i t t l e l a t e r v o n H u m m e l a u e r s e n t i n a n a d d e n d u m
t o h i s p h i l i p p i c a g a i n s t t h e R o t h s c h i l d s . H e h a d b e e n
m a k i n g i n q u i r i e s a m o n g s e v e r a l b u s i n e s s m e n a b o u t N a -
t h a n ' s s o n s , a n d n a t u r a l l y d i d n o t g e t a p a r t i c u l a r l y g o o d
a c c o u n t o f t h e R o t h s c h i l d s f r o m t h e i r r i v a l s . H e n o w
h a s t e n e d t o t r a n s m i t t h e s e r e p o r t s t o V i e n n a . " T h e y o u n g
p e o p l e ' s c o n d u c t , " h e w r o t e , " i s s u c h t h a t N a t h a n ' s h e i r s
h a v e c r e a t e d a n e x c e e d i n g l y u n f a v o r a b l e i m p r e s s i o n .
T h e y a r e s o b l a t a n t l y p u r s e - p r o u d a s t o h a v e o f f e n d e d
t h e o l d b u s i n e s s f r i e n d s o f t h e i r f a t h e r b y t h e i r r u d e n e s s ,
a n d I h a v e h e a r d m a n y o f t h e m e x p r e s s t h e m s e l v e s v e r y
s t r o n g l y o n t h i s m a t t e r . T h e r e p u t a t i o n o f t h e s e y o u n g
p e o p l e i n c o m m e r c i a l c i r c l e s h e r e i s t h e r e f o r e j u s t n o w
v e r y m u c h t o t h e i r d i s a d v a n t a g e . "
i s
V o n H u m m e l a u e r t h e r e f o r e p r o p o s e d t h a t i f i t w a s
d e s i r e d t o a p p o i n t a R o t h s c h i l d a s c o n s u l - g e n e r a l i n L o n -
d o n , a n o t h e r c o n s u l a t e s h o u l d b e c r e a t e d a t L i v e r p o o l , t o
b e i n d e p e n d e n t o f L o n d o n . " B r i t i s h c o m m e r c i a l c i r c l e s , "
t h e c h a r g e d ' a f f a i r e s s t a t e d , " w o u l d r e g a r d t h e L o n d o n
C o n s u l a t e a s a m a t t e r o f f o r m , a n d t h u s t h e u n f a v o r a b l e
i m p r e s s i o n w h i c h w o u l d u n d o u b t e d l y b e c r e a t e d t h r o u g h
c o n f e r r i n g t h e C o n s u l a t e o n o n e o f t h e R o t h s c h i l d s ' s o n s ,
w o u l d b e m o d i f i e d . "
T h i s c a u s e d t h e a u t h o r i t i e s a t V i e n n a t o d e f e r t h e
a p p o i n t m e n t , a n d t h e d e p a r t m e n t s c o n s u l t e d a s t o w h a t
s h o u l d b e d o n e . T h e p o s i t i o n w a s r e n d e r e d m o r e d i f f i -
c u l t b y t h e f a c t t h a t M e t t e r n i c h h a d o f t e n e n c o u r a g e d
S o l o m o n R o t h s c h i l d t o b e l i e v e t h a t L i o n e l w o u l d b e
a p p o i n t e d . W h e n t i m e p a s s e d a n d n o t h i n g w a s d o n e ,
W e r t h e i m s t e i n w r o t e t o M e t t e r n i c h o n S o l o m o n ' s b e h a l f ,
r e m i n d i n g h i m o f h i s p r o m i s e , a n d s u g g e s t i n g t h a t a l l
t h a t w a s n e c e s s a r y w a s t o a p p o i n t a c o n s u l a r o f f i c i a l t o
a s s i s t t h e c o n s u l
.
" B a r o n L i o n e l v o n R o t h s c h i l d , " S o l o m o n ' s s e c r e t a r y
16 o

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
w r o t e , 14 " w o u l d b e d e l i g h t e d t o p a y s u c h a c l e r k a n a n n u a l
a l l o w a n c e s u i t a b l e t o t h e h i g h e r c o s t o f l i v i n g i n L o n d o n ,
t h e r e b y p r o v i n g t h e v a l u e w h i c h h e a t t a c h e s t o i n h e r i t i n g
t h e c o n f i d e n c e w h i c h t h e A u s t r i a n G o v e r n m e n t s h o w e d i n
h i s l a t e f a t h e r , a n d w h i c h w a s a l w a y s a s o u r c e o f p r i d e
t o t h e R o t h s c h i l d f a m i l y . "
T h e m a t t e r w a s f i n a l l y d e a l t w i t h b y c o m p r o m i s e .
L i o n e l w a s a p p o i n t e d a c t i n g u n p a i d c o n s u l - g e n e r a l , a f t e r
h e h a d g i v e n a v e r b a l a s s u r a n c e t o t h e c h a r g e d ' a f f a i r e s
i n L o n d o n t h a t h e w o u l d u s e h i s b e s t e n d e a v o r s t o s u p p o r t
t h e c o n s u l a r o f f i c i a l , w h o w a s a p p o i n t e d s i m u l t a n e o u s l y .
F o r t h e R o t h s c h i l d s t h e i m p o r t a n t t h i n g w a s t h a t t o t h e
p u b l i c t h i s s o l u t i o n c o n v e y e d t h e i m p r e s s i o n t h a t t h e i r
b a n k s t i l l e n j o y e d t h e c o n f i d e n c e o f A u s t r i a .
T h e R o t h s c h i l d s w e r e j u s t a t t h i s t i m e e n d e a v o r i n g t o
i m p r o v e t h e p o s i t i o n o f J e w s i n g e n e r a l a n d t h e r e f o r e
o f t h e m s e l v e s i n p a r t i c u l a r
.
I n
18 33 t h e J e w s h a d , a t
t h e s u g g e s t i o n o f t h e H o u s e o f R o t h s c h i l d , s e n t i n a n o t h e r
p e t i t i o n , a s k i n g f o r t h e f r e e r i g h t o f d o m i c i l e , a n d t o
b e a l l o w e d t o e n g a g e i n t h e s c i e n c e s , a r t s , a n d t r a d e s , a s
w e l l a s t o a c q u i r e a n d o w n r e a l p r o p e r t y . 15 A s t h e y e a r s
p a s s e d w i t h o u t a n y t h i n g b e i n g d o n e , a p e t i t i o n w a s s e n t
t o M e t t e r n i c h o n J u l y 17, 18 35, a s k i n g h i m t o u s e h i s i n -
f l u e n c e i n f a v o r o f t h i s p e t i t i o n . T h e R o t h s c h i l d s f e l t t h e y
m u s t a s s i s t i n t h e e n d e a v o r t o s e c u r e t h i s g e n e r a l e x t e n -
s i o n o f J e w i s h r i g h t s , a s s p e c i a l e x c e p t i o n s t o t h e l a w s
h a d o f t e n b e e n m a d e i n t h e i r f a v o r . T h u s t h e y h a d r e -
c e i v e d a s p e c i a l m i n i n g c o n c e s s i o n f o r t h e c o a l m i n e s
i n D a l m a t i a a n d I s t r i a , a s w e l l a s f o r t h e I s t r i a n q u i c k -
s i l v e r " m i n e s , a l t h o u g h f o r n e a r l y t h r e e h u n d r e d y e a r s
J e w s h a d b e e n e x c l u d e d f r o m s u c h a c t i v i t i e s .
T h e a u t h o r i t i e s c o n t i n u e d t o d e l a y t a k i n g a n y a c t i o n
t o a l l e v i a t e t h e l o t o f t h e J e w s , a n d S o l o m o n R o t h s c h i l d
a c c o r d i n g l y s e n t M e t t e r n i c h a f u r t h e r e m p h a t i c r e q u e s t
f o r a s s i s t a n c e .
" Y o u r H i g h n e s s , " h e w r o t e f r o m P a r i s , o n J a n u a r y 9,
18 37, 18 " w i l l f o r g i v e m y t a k i n g t h e l i b e r t y o f m a k i n g
S h a k i n g T h r o n e s

16 1
a s p e c i a l a p p e a l t o y o u o n a m a t t e r w h i c h i s o f t h e v e r y
d e e p e s t c o n c e r n t o m e .
" T h i s m a t t e r , m y d e a r P r i n c e , i s o n e t h a t c o n c e r n s
t h e d e s t i n y o f m y c o - r e l i g i o n i s t s
. I t c o n c e r n s t h e h o p e s
o f s o m a n y f a t h e r s o f f a m i l i e s a n d t h e h i g h e s t a s p i r a t i o n s
o f t h o u s a n d s o f h u m a n b e i n g s
. I w o u l d c o m m e n d i t w i t h
a l l m y h e a r t , i n c o m p l e t e t r u s t a n d c o n f i d e n c e , t o t h e
f a v o r a b l e c o n s i d e r a t i o n o f m y m o s t g r a c i o u s P r i n c e . I
c h e r i s h n o m o r e s a c r e d d e s i r e t h a n t o s e e t h e d e s t i n y o f
m y c o - r e l i g i o n i s t s i m p r o v e d
.
" I s h a l l n o t w e a r y y o u r H i g h n e s s w i t h m a n y w o r d s ,
a n d r e l y c o n f i d e n t l y o n t h e g r a c i o u s a s s u r a n c e s t h a t y o u r
H i g h n e s s h a s s o o f t e n g i v e n , t h a t y o u w i s h t o b e a b e -
n e v o l e n t p r o t e c t o r a n d a k i n d h e l p e r t o m y c o - r e l i g i o n -
i s t s
. K n o w i n g y o u r H i g h n e s s ' s w i s e a n d p a t e r n a l s e n t i -
m e n t s , I h o p e w i t h f u l l c o n f i d e n c e , t h a t a l l o u r w i s h e s
w i l l b e g r a n t e d b y a p r i n c e t o w h o m t h e w e l f a r e o f
a l l c l a s s e s o f h u m a n i t y i s s a c r e d , a n d t o w h o m t h e h e l p -
l e s s h a v e n e v e r a p p e a l e d i n v a i n
. "
O n r e c e i p t o f t h i s l e t t e r , M e t t e r n i c h a r r a n g e d f o r a
c o n f e r e n c e o f m i n i s t e r s t o b e s u m m o n e d t o d i s c u s s t h e
J e w i s h p r o b l e m
. T h e c o n f e r e n c e r e g i s t e r e d t h e f o l l o w -
i n g o p i n i o n : " U n d e r t h e p r e v a i l i n g c o n d i t i o n s o f t h e
t i m e , i t i s u n d o u b t e d l y i n t h e i n t e r e s t s o f t h e G o v e r n -
m e n t t h a t t h e J e w s s h o u l d b e a c c o r d e d s o m e i m p r o v e m e n t
i n t h e i r c o n d i t i o n , a n d s o m e e x t e n s i o n o f t h e i r r i g h t s
.
B u t w e f e e l t h a t i t i s a b s o l u t e l y e s s e n t i a l t h a t d u e r e g a r d
s h o u l d b e h a d f o r t h e g e n e r a l c i r c u m s t a n c e s o f t h e p r e s -
e n t d a y , a n d e v e n f o r p r e v a i l i n g p r e j u d i c e s , s o t h a t t h e
p u b l i c m a y n o t s u d d e n l y d r a w t h e c o n c l u s i o n t h a t
f u l l e m a n c i p a t i o n o f t h e J e w s i s c o n t e m p l a t e d a n d t h a t
t h e G o v e r n m e n t i n t e n d s t o p u t t h e m o n a n e q u a l i t y w i t h
C h r i s t i a n s
. " I t w a s a c c o r d i n g l y d e c i d e d t h a t t h e " t o l e r a -
t i o n " t a x s h o u l d b e m a i n t a i n e d , b u t t h a t t h e e m p e r o r
s h o u l d h a v e d i s c r e t i o n t o g r a n t J e w s p e r m i s s i o n t o o w n
h o u s e s i n V i e n n a , b u t t h a t t h i s d i s c r e t i o n s h o u l d a p p l y t o
h o u s e s o n l y , a n d n o t t o a n y o t h e r k i n d o f r e a l p r o p e r t y
.
16 2

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
T h u s t h e R o t h s c h i l d s , w h o w e r e s t i l l l i v i n g a s t e n a n t s
i n t h e H o t e l z u m R o m i s c h e n K a i s e r , w e r e e n a b l e d t o a c -
q u i r e a h o u s e o f t h e i r o w n
.
B u t S o l o m o n a l s o u s e d h i s i n f l u e n c e w i t h t h e c h a n c e l -
l o r t o s e c u r e b e t t e r c o n d i t i o n s f o r t h e J e w s o u t s i d e t h e
b o u n d a r i e s o f A u s t r i a , m o r e p a r t i c u l a r l y i n I t a l y , w h e r e
M e t t e r n i c h w a s p o w e r f u l
. M o d e n a w a s a c a s e i n p o i n t ,
w h e r e t h e d u k e h a d , o n M a r c h
2 2 , 18 31, i n c o n s e q u e n c e
o f c e r t a i n d i s t u r b a n c e s t h a t h a d o c c u r r e d , i m p o s e d u p o n
t h e J e w s a c o n t r i b u t i o n o f 6 o o , o o o l i r e , a n d r e s t r i c t i o n s
o n t h e i r l i b e r t y . S o l o m o n ' s m a n a g e r , G o l d s c h m i d t , t o o k
a d v a n t a g e o f o n e o f t h e d u k e ' s v i s i t s t o V i e n n a , t o a s k
h i m , " ' o n b e h a l f o f S o l o m o n , t o r e s c i n d t h e s e o p p r e s s i v e
a n d u n j u s t d e c r e e s
. E v e n i n t h e y e a r 18 33, t h e P a p a l
S t a t e s a g a i n a t t e m p t e d t o a p p l y t h e i d e a o f c o m p l e t e l y
s h u t t i n g o f f t h e J e w s f r o m t h e C h r i s t i a n i n h a b i t a n t s i n
c i t i e s
; t h e y w e r e a g a i n t o l i v e w i t h i n w a l l s s e p a r a t e d
f r o m o t h e r i n h a b i t a n t s
. A t S o l o m o n ' s r e q u e s t M e t t e r n i c h
i n t e r v e n e d i n t h i s c o n n e c t i o n , a n d i t w a s d u e t o h i m t h a t
t h i s h u m i l i a t i n g r e g u l a t i o n , a s S o l o m o n c a l l e d i t , w a s n o t
g e n e r a l l y a p p l i e d .
" T h o u s a n d s w h o m y o u h a v e t h e r e b y m a d e h a p p i e r , "
S o l o m o n w r o t e t o M e t t e r n i c h , " a r e p r a y i n g t o h e a v e n t o
b l e s s y o u f o r y o u r a c t i o n . "
I n 18 38 , S o l o m o n a g a i n h e a r d f r o m J e w i s h f i r m s i n
F e r r a r a t h a t f u r t h e r m e a s u r e s o f o p p r e s s i o n h a d b e e n
p l a n n e d t h e r e .
" T h e l a m e n t t h a t h a s g o n e u p f r o m t h o s e w h o a r e
t h r e a t e n e d b y s u c h a r e g u l a t i o n , " S o l o m o n w r o t e t o M e t -
t e r n i c h , " I " a n d m y n a t u r a l s y m p a t h y f o r t h e o p p r e s s e d ,
e s p e c i a l l y w h e n t h e y a r e m y h e l p l e s s c o - r e l i g i o n i s t s , h a s
l e d m e o n t h i s o c c a s i o n a g a i n t o v e n t u r e m o s t u r g e n t l y
t o a p p e a l t o Y o u r H i g h n e s s ' s c l e m e n c y a n d m a g n a n i m i t y ,
t h a t y o u m a y b e g r a c i o u s l y p l e a s e d , a s y o u w e r e i n 18 33,
t o u s e y o u r p o w e r f u l i n f l u e n c e , t h r o u g h t h e A u s t r i a n E m -
b a s s y a t R o m e , t o i n d u c e t h e H o l y F a t h e r t o c o u n t e r m a n d
t h e p u b l i c a t i o n o f t h i s t h r e a t e n e d d e c r e e a g a i n s t m y u n -
S h a k i n g T h r o n e s

16 3
f o r t u n a t e c o - r e l i g i o n i s t s , a n d i n d u c e t h e P a p a l G o v e r n -
m e n t t o a d o p t a m i l d e r a n d m o r e t o l e r a n t a t t i t u d e
. I h o p e
t h a t I m a y s u c c e e d , w i t h m y w e a k w o r d s , i n t o u c h i n g t h e
h e a r t o f y o u r H i g h n e s s , w h i c h i s s o s e n s i t i v e t o t h e w e l -
f a r e o f h u m a n i t y . "
S u c h r e q u e s t s w e r e p a r t i c u l a r l y d i f f i c u l t t o r e f u s e , w h e n
S o l o m o n h a d j u s t s p e n t l a r g e s u m s o n p u b l i c a n d b e n e f i -
c e n t o b j e c t s , a n d t h i s w a s t h e c a s e n o w , f o r i n M a r c h ,
18 38 , t h e t o w n s o f O f e n a n d P e s t h h a d b e e n v i s i t e d b y
a t e r r i b l e f l o o d . O n t h a t o c c a s i o n S o l o m o n R o t h s c h i l d
w r o t e a s f o l l o w s :
19
" A c t u a t e d b y h u m a n a n d , I w o u l d
v e n t u r e t o s a y , e n t i r e l y p a t r i o t i c f e e l i n g s f o r A u s t r i a , I
o f f e r t o p l a c e t h e s e r v i c e s o f m y H o u s e a b s o l u t e l y a t y o u r
d i s p o s a l , i n c a s e y o u r M a j e s t y s h o u l d b e p l e a s e d t o c o m -
m a n d t h a t s o m e w h a t m o r e e x t e n s i v e f i n a n c i a l m e a s u r e s
s h o u l d b e t a k e n t o a m e l i o r a t e t h e l o t o f t h e v i c t i m s . "
I n h i s p e t i t i o n t o t h e e m p e r o r , 2 0 S o l o m o n a s k e d h i m t o
a c c e p t h i s l o y a l o f f e r , " a s b e a r i n g s o m e s l i g h t t e s t i m o n y
t o t h e u n s h a k a b l e l o y a l t y a n d u n c h a n g e a b l e d e v o t i o n
w h i c h I a n d a l l m y H o u s e f e e l f o r t h e s a c r e d p e r s o n o f
y o u r M a j e s t y , a n d t h e w h o l e o f t h e I m p e r i a l F a m i l y . "
A m s c h e l M e y e r a t F r a n k f o r t a l s o a r r a n g e d a c o n c e r t
t o b e n e f i t t h e v i c t i m s , a t S o l o m o n ' s s u g g e s t i o n , a t w h i c h
s o l o s w e r e s u n g b y C a r l R o t h s c h i l d ' s b r i l l i a n t a n d c h a r m -
i n g w i f e , a s w e l l a s b y t h e C o u n t e s s R o s s i .
T h e p o s i t i o n o f t h e R o t h s c h i l d s i n t h e c o u n t r i e s o f t h e i r
a d o p t i o n w a s b y n o w s u c h t h a t t h e y w e r e a b s o l u t e l y b o u n d
u p w i t h e a c h c o u n t r y ' s w e a l o r w o e . T h e i r p o l i t i c a l i n f l u -
e n c e w a s e v e n g r e a t e r i n F r a n c e t h a n i n A u s t r i a . A r e s u l t
o f t h i s w a s n a t u r a l l y t h a t t h e y m a d e e n e m i e s
. A m o n g
t h e i r f o e s i n P a r i s w a s t h a t a r c h - s p y K l i n d w o r t h , w h o
s e n t C o u n t A p p o n y i r e g u l a r r e p o r t s r e g a r d i n g t h e s i t u a -
t i o n i n P a r i s , i n r e t u r n f o r w h i c h h e r e c e i v e d p a y m e n t
.
" A p r o o f , " t h i s m a n r e p o r t e d o n J a n u a r y z o , 18 38 , " o f
t h e e x t e n t t o w h i c h t h e R o t h s c h i l d i n f l u e n c e i n t h i s c o u n -
t r y g o e s , m a y b e f o u n d i n t h e f a c t t h a t l a s t w e e k , w h e n
o n e o f m y F r e n c h f r i e n d s w e n t t o R o t h s c h i l d ' s o f f i c e , h e
16 4 .

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
f o u n d G e n e r a l R u m i g n y t h e r e , t h e K i n g ' s a d j u t a n t i n
m a t t e r s t o d o w i t h t h e B o u r s e
. R o t h s c h i l d h a s h i s o w n
s y s t e m
. L a c k i n g i n t e l l i g e n c e a n d u n d e r s t a n d i n g o f a f f a i r s ,
h e u s e s t h e c o m p e l l i n g p o w e r o f m o n e y
. I n a l l t h e M i n -
i s t r i e s a n d i n a l l t h e D e p a r t m e n t s h e h a s h i s c r e a t u r e s o f
a l l r a n k s t o b r i n g h i m e v e r y k i n d o f i n f o r m a t i o n . "
K l i n d w o r t h d e n i e d t h a t J a m e s h a d a n y p o l i t i c a l j u d g -
m e n t , a n d e x p r e s s e d t h e o p i n i o n t h a t h e w a s v e r y f r i e n d l y
t o A u s t r i a , b u t v e r y u n f r i e n d l y t o P r u s s i a
. I n c o n t r a s t t o
h i s p o s i t i o n i n P a r i s , h e h a d n e v e r b e e n r e c o g n i z e d b y
B e r l i n s o c i e t y , w h i l e s o m e m e m b e r s o f h i s f a m i l y h a d
a c t u a l l y b e e n i n s u l t e d t h e r e .
W e k n o w t o d a y t h a t t h e s e o p i n i o n s w e r e f r e q u e n t l y
e r r o n e o u s , a n d , l i k e t h o u s a n d s o f l a t e r r e p o r t s f r o m t h e
s a m e m a n , t h e y s h o w e d h o w l i t t l e c r e d i t i s t o b e g i v e n t o
s u c h v e n a l i n f o r m e r s . N e v e r t h e l e s s , t h i s m a n ' s r e p o r t s
w e r e e n t h u s i a s t i c a l l y a c c e p t e d a t t h e t i m e , a n d u n t i l l a t e
i n t h e s e v e n t i e s a h i g h p r i c e w a s p a i d f o r t h e m a n d t h e y
w e r e o f t e n b e l i e v e d
.
K l i n d w o r t h , w h o w a s v e r y a v a r i c i o u s , m a y h a v e b e e n
i l l d i s p o s e d t o t h e R o t h s c h i l d s t h r o u g h h a v i n g h a d a r e -
q u e s t r e f u s e d , o r t h e y m a y h a v e f a i l e d t o i n v i t e h i m t o
t h e i r m a g n i f i c e n t p a r t i e s
. I n v i t a t i o n s t o t h e h o t e l i n t h e
R u e L a f f i t t e w e r e e a g e r l y s o u g h t a f t e r , w h e r e e v e r y t h i n g
w a s d o n e o n a s c a l e o f u n p a r a l l e l e d m a g n i f i c e n c e , w h i c h
w a s i n t e n d e d t o m a k e u p f o r a n y l a c k o f b i r t h a n d b r e e d -
i n g
. A f t e r t h e d e a t h o f N a t h a n , t o w h o m g r e a t d i s p l a y
w a s n o t c o n g e n i a l , t h e s e m a g n i f i c e n t p a r t i e s b e c a m e u s u a l
w i t h t h e L o n d o n R o t h s c h i l d s t o o
. T h e y w e r e g i v e n i n
t h e b e a u t i f u l p a r k a t G u n n e r s b u r y , a n d o v e r f i v e h u n d r e d
i n v i t a t i o n s w o u l d b e i s s u e d
. T h e D u k e o f S u s s e x , P r i n c e
G e o r g e o f C a m b r i d g e , t h e D u k e o f S o m e r s e t , W e l l i n g -
t o n , f o r e i g n p r i n c e s a n d d i p l o m a t s , a n d t h e m o s t e x c l u s i v e
m e m b e r s o f L o n d o n s o c i e t y w e r e t o b e f o u n d t h e r e . T h e
m o s t f a m o u s a r t i s t e s , s u c h a s t h e o p e r a s i n g e r , G i u l i a
G r i s i , a n d t h e w o r l d - f a m o u s b a s s e s , A n t o n i o T a m b u r i n i
a n d L a b l a c h e , w o u l d s i n g , a n d R o s s i n i o f t e n c a m e o v e r
S h a k i n g T h r o n e s

16 5
f r o m P a r i s t o g i v e e x c e r p t s f r o m h i s . o p e r a s , a s h e d i d
a t J a m e s ' s h o u s e i n P a r i s
. S u p p e r w o u l d b e l a i d o u t i n
s p e c i a l t e n t s i n t h e h u g e p a r k , i l l u m i n a t e d b y t h o u s a n d s
o f m u l t i c o l o r e d l a m p s , w h e r e t h e c h o i c e s t d i s h e s w e r e
s e r v e d
.
2 1
T h e s o n s w e r e c a s t i n a d i f f e r e n t m o l d f r o m t h e s e r i -
o u s a n d c a l c u l a t i n g N a t h a n , w h o t h o u g h t o f n o t h i n g b u t
h i s b u s i n e s s , w h i c h h e e x t e n d e d w i t h s u c h f a r - s e e i n g
g e n i u s . N a t h a n h a d a t t a c h e d n o v a l u e t o e x t e r n a l s , a n d
h a d n e v e r d u r i n g h i s l i f e u s e d t h e t i t l e c o n f e r r e d o n h i m
b y t h e e m p e r o r , s i n c e i t w a s a f o r e i g n o n e . L i o n e l o n t h e
o t h e r h a n d , i m m e d i a t e l y t o o k s t e p s t o o b t a i n t h e k i n g ' s
p e r m i s s i o n t o u s e t h e t i t l e , w h i c h p e r m i s s i o n h e r e c e i v e d
i n J u n e , 18 38
,
M o r e o v e r , t i m e s h a d c h a n g e d , a n d t h e a d v e r t i s e m e n t
w h i c h t h e H o u s e o f R o t h s c h i l d h a d s h u n n e d i n t h e p a s t
w a s n o w v e r y u s e f u l . T h e b a n q u e t s h a d t h e i r v a l u e f r o m
t h i s p o i n t o f v i e w , a n d , i n a d d i t i o n , i l l u s t r a t i o n s a n d
p r o p a g a n d a a r t i c l e s w e r e b r o u g h t i n t o p l a y . O n e o f t h e
c l e v e r e s t i d e a s w a s a h a n d k e r c h i e f m a n u f a c t u r e d i n e n o r -
m o u s n u m b e r s , w i t h N a t h a n ' s p o r t r a i t p r i n t e d i n c o l o r s ,
a n d b e a r i n g t h e f o l l o w i n g i n s c r i p t i o n i n f o u r l a n -
g u a g e s : 2 2 " H e w a s d i s t i n g u i s h e d b o t h f o r h i s b u s i n e s s
c a p a c i t y a n d e n t e r p r i s e , a n d a l s o f o r h i s g e n e r o s i t y a n d
l o v e o f h u m a n i t y . " O n t h e h a n d k e r c h i e f w e r e a l s o s e t
o u t t h e l o a n s m a d e b y t h e H o u s e o f R o t h s c h i l d t o t h e
v a r i o u s s t a t e s , g i v i n g t h e a m o u n t i n e a c h c a s e . T h e h a n d -
k e r c h i e f s w e r e m a d e b y a m a n u f a c t u r e r i n L o n d o n a n d
s e n t t o t h e V i e n n a w h o l e s a l e m e r c h a n t s , J o s e f B o s c h a n ,
w h o a p p l i e d t o t h e c h a n c e r y a n d t o S o l o m o n f o r p e r m i s -
s i o n t o s e l l t h e m i n A u s t r i a .
I n t h e m i d s t o f t h e i r c o m m e r c i a l a n d s o c i a l a c t i v i t i e s ,
t h e R o t h s c h i l d s d i d n o t f o r g e t t o d i r e c t t h e i r p a r t i c u l a r
a t t e n t i o n t o t h e a d v a n c e s i n a p p l i e d s c i e n c e . T h e e x p l o i -
t a t i o n o f n e w d i s c o v e r i e s b e f o r e t h e y w e r e g e n e r a l l y
k n o w n g a v e o p p o r t u n i t i e s f o r p r o f i t q u i t e a s i m p o r t a n t
a s i n t h e c a s e o f l o a n s a n d o f f i n a n c i a l t r a n s a c t i o n s
.
16 6

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
T h e r e w a s , f o r i n s t a n c e , a M . F o u r n e y r o n , " d i s c o v e r e r
o f t h e t u r b i n e , a h y d r a u l i c m a c h i n e , " w h o s u c c e e d e d i n
g e t t i n g J a m e s i n t e r e s t e d i n h i s i n v e n t i o n . J a m e s n o t o n l y
s u p p o r t e d t h e i n v e n t o r i n F r a n c e , b u t a l s o g a v e h i m a
l e t t e r o f r e c o m m e n d a t i o n t o h i s b r o t h e r S o l o m o n
i n
V i e n n a , w h o s u c c e e d e d i n i n t e r e s t i n g P r i n c e M e t t e r n i c h ,
J a m e s h a v i n g w r i t t e n t o h i m t h a t t h e m a c h i n e i n q u e s -
t i o n c o u l d b e m o s t u s e f u l l y e m p l o y e d i n f o u n d r i e s a n d
f a c t o r i e s o f a l l k i n d s
. "
N a t h a n ' s s o n s i n E n g l a n d a l s o o b s e r v e d t h e d e v e l o p -
.
m e n t o f s t e a m t r a f f i c w i t h t h e c l o s e s t a t t e n t i o n
. " T h e
s t e a m s h i p , " L i o n e l w r o t e o n M a y 31, 18 38 ,
2 4 " w i l l b e o f
e n o r m o u s a d v a n t a g e t o t h e c o m m e r c e b e t w e e n t h i s c o u n -
t r y a n d t h e U n i t e d S t a t e s o f A m e r i c a .
. . .
T w o a t t e m p t s
h a v e a l r e a d y b e e n m a d e t o c r o s s t h e A t l a n t i c O c e a n i n
s t e a m b o a t s , n a m e l y t h e S i r i u s a n d G r e a t W e s t e r n o f
L o n d o n a n d B r i s t o l
. T h e s e a t t e m p t s h a v e p r o v e d s o s u c -
c e s s f u l t h a t a n y d o u b t s w h i c h m a y h a v e b e e n e n t e r t a i n e d
a s t o t h e p o s s i b i l i t y o f a r e g u l a r s e r v i c e b e t w e e n h e r e
a n d N e w Y o r k , h a v e b e e n d i s s i p a t e d
. T h e S i r i u s m e t b a d
w e a t h e r a n d c o n t r a r y w i n d s o n h e r v o y a g e , b u t i n s p i t e
o f t h i s o n l y t o o k n i n e t e e n d a y s f r o m C o r k t o N e w Y o r k
.
T h e j o u r n e y i s 3, 8 00 m i l e s a n d w a s a c c o m p l i s h e d a t a n
a v e r a g e s p e e d o f 8 % m i l e s a n h o u r
. T h e S i r i u s c a r r i e s
b o o t o n s a n d h e r e n g i n e s h a v e a h o r s e - p o w e r o f 32 0
; 4 31
t o n s o f c o a l a n d 4 3 b a r r e l s o f t a r w e r e c o n s u m e d o n t h e
j o u r n e y
. T h e G r e a t W e s t e r n t o o k f i f t e e n d a y s a n d f i v e
h o u r s f r o m B r i s t o l t o N e w Y o r k , c o v e r i n g a d i s t a n c e o f
3, 2 2 0
m i l e s , t h u s a c c o m p l i s h i n g t h e j o u r n e y a t a n a v e r a g e
s p e e d o f a b o u t n i n e m i l e s a n h o u r
. T h e l a t t e r v e s s e l c a r -
r i e s 1, 34 0 t o n s a n d h e r e n g i n e s d e v e l o p 4 50 h o r s e - p o w e r
;
4 50 t o n s o f c o a l w e r e c o n s u m e d o n t h e v o y a g e
.
" T h e s u c c e s s o f t h e s e e x p e r i m e n t s h a s l e d t o t h e i d e a
o f e s t a b l i s h i n g a r e g u l a r s t e a m b o a t s e r v i c e b e t w e e n E n g -
l a n d a n d A m e r i c a
; a n d t h e s a m e C o m p a n y t h a t s e n t o u t
t h e S i r i u s h a s f i t t e d o u t a n e x t r a o r d i n a r i l y b i g s h i p c a l l e d
t h e B f r i t i s h Q u e e n w i t h a t o n n a g e o f 1, 8 4 0 a n d a h o r s e -
S h a k i n g T h r o n e s

16 7
p o w e r o f 5o o , w i t h a v i e w t o h e r m a k i n g a s i m i l a r v o y a g e .
Q u i t e a n e w c o m p a n y h a s a l s o b e e n f o r m e d w i t h t h e o b -
j e c t o f b u i l d i n g s i x t o e i g h t l a r g e s t e a m e r s f o r t h i s s e r v i c e .
U n d o u b t e d l y w i t h i n a v e r y s h o r t t i m e t h e p r i n c i p a l t r a f -
f i c b e t w e e n A m e r i c a a n d E n g l a n d w i l l b e c a r r i e d o u t
e n t i r e l y b y s t e a m e r s , a n d s a i l i n g b o a t s w i l l c e r t a i n l y b e
g r a d u a l l y s u p e r s e d e d . "
L i o n e l f o l l o w e d w i t h e q u a l i n t e r e s t t h e e n o r m o u s d e -
v e l o p m e n t o f r a i l w a y s , w h i c h a t t h e t i m e w e r e a l r e a d y
b e g i n n i n g t o c a r r y m a i l s , a s h e r e p o r t e d w i t h e n t h u s i a s m .
" S i n c e t h e L i v e r p o o l - M a n c h e s t e r R a i l w a y w a s o p e n e d i n
S e p t e m b e r , 18 30, " h e a d d e d i n h i s r e p o r t , " u p t o D e c e m -
b e r , 18 37, 4 8 , 716 j o u r n e y s h a v e b e e n m a d e , a n d a b o u t
t h r e e m i l l i o n p a s s e n g e r s h a v e b e e n c a r r i e d , t h e r e h a v i n g
b e e n o n l y t w o f a t a l a c c i d e n t s
. . . . T h e e n g i n e e r o f t h e
B i r m i n g h a m R a i l w a y i s o f t h e o p i n i o n t h a t m o s t r a i l -
w a y s w i l l y i e l d a p r o f i t o f e i g h t t o t e n p e r c e n t p e r
a n n u m . "
T h i s l a s t c o n s i d e r a t i o n w a s n a t u r a l l y t h e m o s t i m -
p o r t a n t .
W h i l e t h e d e v e l o p m e n t o f s t e a m s h i p t r a f f i c i n E n g l a n d
w a s m a k i n g t h e m o s t p r o d i g i o u s s t r i d e s , t h e L l o y d - T r i e s -
t i n o , t h e A u s t r i a n c o m p a n y , w a s i n g r e a t d i f f i c u l t i e s
. T h e
H o u s e o f R o t h s c h i l d h a d i n v e s t e d l a r g e s u m s i n t h i s
u n d e r t a k i n g , a n d t h e y w a n t e d t o m i n i m i z e t h e i r r i s k .
S o l o m o n a c c o r d i n g l y e n d e a v o r e d t o i n d u c e t h e A u s t r i a n
g o v e r n m e n t t o s u b s i d i z e t h e u n d e r t a k i n g , a n d a d d r e s s e d
a s k i l f u l l e t t e r t o t h e h e a d o f t h e t r e a s u r y o n t h i s p o i n t
.
I h a v e , o n s e v e r a l p r e v i o u s o c c a s i o n s [ S o l o m o n
w r o t e a 6 ] , v e n t u r e d t o d r a w y o u r E x c e l l e n c y ' s a t t e n -
t i o n t o t h i s u n d e r t a k i n g , w h i c h m a y t r u l y b e c a l l e d
a n a t i o n a l o n e . B u t i n v i e w o f t h e e x t e n t t o w h i c h
m y H o u s e i s i n t e r e s t e d i n t h e v e n t u r e , I c a n r e a d i l y
b e l i e v e t h a t w h a t I h a v e s a i d m a y a p p e a r t o h a v e
b e e n p r o m p t e d b y s e l f - i n t e r e s t , a n d I m a y t h e r e f o r e
h a v e f a i l e d t o s t r i k e e n t i r e l y t h e r i g h t n o t e . A n d
16 8

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
p e r h a p s m y p e r s o n a l p o s i t i o n m a d e m e a m u n s u i t a b l e
a d v o c a t e , s i n c e i t i s a w e l l - k n o w n f a c t t h a t i t i s i n
d e a l i n g w i t h o n e ' s o w n a f f a i r s t h a t o n e o f t e n i s l e a s t
e f f e c t i v e .
A n y w e a k n e s s i n m y p r e s e n t a t i o n o f t h e f a c t s w i l l ,
h o w e v e r , b e m o r e t h a n c o m p e n s a t e d f o r b y t h e
s t r e n g t h o f t h e a c t u a l f a c t s a n d f i g u r e s t h e m s e l v e s .
T h e p r e s e n t p o s i t i o n o f t h e A u s t r i a n s t e a m s h i p c o m -
p a n y i s s u c h t h a t t h e r e c a n b e n o d o u b t a s t o i t s f u t u r e
f a t e .
I f t h e L l o y d i s t o c o n t i n u e o n t h e p a t h o n w h i c h
i t b e g a n s o a u s p i c i o u s l y , i t m u s t p r o v e i t s e l f o f r e a l
s e r v i c e t o t h e m o s t v a r i e d i n t e r e s t s
. T h i s w i l l o n l y
b e p o s s i b l e i f t h i s i n s t i t u t i o n i s i m m e d i a t e l y g r a n t e d
t h e p e c u n i a r y , m a t e r i a l , a n d m o r a l s u p p o r t w h i c h
t h e h i g h a u t h o r i t i e s i n t h e S t a t e h a v e b e e n e a r n e s t l y
b e g g e d t o r e n d e r i t .
I f s u c h a s s i s t a n c e s h o u l d n o t b e f o r t h c o m i n g , o r
s h o u l d b e g r a n t e d t o o l a t e , t h e f a i l u r e o f t h e L l o y d
w i l l b e i n e v i t a b l e , a n d t h e p u b l i c a u c t i o n o f t h e s h i p s
w i l l m a r k t h e s a d f a i l u r e o f a n u n d e r t a k i n g w h i c h
t h e a u t h o r i t i e s i n t h e S t a t e t h e m s e l v e s d e s i r e d , a n d
w h i c h w o u l d h a v e c e r t a i n l y b e e n a n o r n a m e n t t o
t h e A u s t r i a n m o n a r c h y , a n d w o u l d h a v e b e e n a
s o u r c e o f g r e a t b e n e f i t t o t h e S t a t e i t s e l f , a n d t o i t s
c o m m e r c e a n d i n d u s t r y .
P e r m i t m e t o t a k e t h i s , o p p o r t u n i t y o f r e m i n d i n g
y o u r E x c e l l e n c y o f t h e f a c t t h a t b e f o r e m y H o u s e b e -
c a m e a s s o c i a t e d w i t h t h e u n d e r t a k i n g , t h e G o v e r n -
m e n t h a d i n d i c a t e d t h a t t h e y w e r e f a v o r a b l y c o n -
s i d e r i n g t h e i d e a o f t h e m s e l v e s a c q u i r i n g a n i n t e r e s t
i n i t a s s h a r e h o l d e r s . I m a y p e r h a p s b e a l l o w e d t o
c o n f e s s t o y o u r H i g h n e s s t h a t i t w a s e s p e c i a l l y t h e
h o p e o f t h e i r s o d o i n g w h i c h g a v e m y H o u s e c o n f i -
d e n c e i n t h e v e n t u r e , a n d l e d u s t o i n v e s t s u c h c o n -
s i d e r a b l e c a p i t a l i n i t .
I w o u l d a s k y o u r E x c e l l e n c y t o a c c e d e t o t h a t
w h i c h a t t h a t t i m e y o u m a y h a v e h a d t h e b e n e v o l e n t
i n t e n t i o n o f d o i n g , f o r i t i s n o t p o s s i b l e t h a t t h e L l o y d
S h a k i n g T h r o n e s

16 9
s h o u l d c o n t i n u e w i t h p r i v a t e r e s o u r c e s a n d u n a i d e d ,
t o a c c o m p l i s h a l l t h a t F r a n c e h a s s u c c e e d e d i n
a c h i e v i n g w i t h a n e n o r m o u s e x p e n d i t u r e o f S t a t e
m o n e y s , a n d i s c o n c e r n e d , a t c o n s i d e r a b l e e x p e n d i -
t u r e , t o m a i n t a i n
. T h e t a s k i s , a t a n y r a t e d u r i n g t h e
e a r l y p e r i o d o f d e v e l o p m e n t , t o o d i f f i c u l t a n d o n e r -
o u s , b u t t h e u n d e r t a k i n g c o n t a i n s t h e m o s t e x c e l l e n t
p r o m i s e s o f u l t i m a t e p r o s p e r i t y , i f i t c a n b e a l l o w e d
t h e t i m e n e c e s s a r y t o b r i n g t h e m g r a d u a l l y t o
f r u i t i o n .
H i s I . a n d R
. M a j e s t y w a s h i m s e l f g r a c i o u s l y
p l e a s e d t o s t a t e t h a t t h e m a i n t e n a n c e o f t h e L l o y d
c o u l d n o t b e a m a t t e r o f i n d i f f e r e n c e t o t h e c o u n t r y
.
Y o u r E x c e l l e n c y h a s a l w a y s b e e n g o o d e n o u g h t o
s h o w t h e g r e a t e s t i n t e r e s t i n i t
. F o r t h i s r e a s o n I v e n -
t u r e a g a i n t o d a y t o r a i s e m y v o i c e i n s u p p l i c a t i o n o n
b e h a l f o f t h i s t r u l y n a t i o n a l u n d e r t a k i n g
. I t i s n o t
i n m y o w n p e r s o n a l i n t e r e s t t h a t I a m s p e a k i n g
; I
a s s u r e y o u r E x c e l l e n c y t h a t m y m i n d i s m a d e u p a n d
t h e H o u s e i s r e c o n c i l e d t o t h e l o s s t h a t i t m a y s u f f e r
i f t h i n g s g o a m i s s , b u t i t c a n n o t g o a n y f u r t h e r t h a n
i t h a s d o n e , f o r i n t h i s m a t t e r a s i n a l l t r a n s a c t i o n s ,
t h e p r i n c i p l e s w h i c h i t s o c o n s i s t e n t l y f o l l o w s p r e -
s c r i b e c e r t a i n l i m i t s t h a t i t m a y n o t p a s s
.
T h e f a t e o f t h e u n d e r t a k i n g l i e s i n y o u r E x c e l -
l e n c y ' s h a n d s . Y o u
a r e a c c u s t o m e d t o l o o k a t t h i n g s
n o t f r o m t h e n a r r o w a n d p u r e l y f i n a n c i a l p o i n t o f
v i e w , b u t a l s o a s a s t a t e s m a n a n d m i n i s t e r t o c o n s i d e r
t h e m i n t h e i r h i g h e r s i g n i f i c a n c e a n d , w i t h e x c e p -
t i o n a l i n s i g h t , t o g r a s p t h e i r i m p o r t a n t r e l a t i o n s t o
t h e l i f e o f t h e c o u n t r y a s a w h o l e
.
I w o u l d m o s t e m p h a t i c a l l y b e g y o u r E x c e l l e n c y
q u i c k l y t o p r o n o u n c e y o u r v e r d i c t u p o n t h e L l o y d
;
i t s d a y s a r e n u m b e r e d , a n d i f t h e B o a r d o f D i r e c t o r s
m a y n o t h o p e t h a t h i s M a j e s t y , o u r m o s t g r a c i o u s
E m p e r o r w i l l , b e f o r e h e l e a v e s V e n i c e , d e i g n t o
g r a n t t h a t f i n a n c i a l s u p p o r t w h i c h i s a b s o l u t e l y e s s e n -
t i a l , t h e w h o l e s t r u c t u r e w i l l i n e v i t a b l y c o l l a p s e ,
a f t e r b e i n g m a i n t a i n e d a t e n o r m o u s e f f o r t a n d s a c -
170

T h e R e i g n o f t h e H o u s e o f R o t h s c h i l d
r i f i c e f o r t h e f e w w e e k s d u r i n g w h i c h w e m a y b e
c o n t i n u i n g t o h o p e f o r a f a v o r a b l e d e c i s i o n .
A t t h e s a m e t i m e S o l o m o n w r o t e t o M e t t e r n i c h i n s i m -
i l a r t e r m s . " R o t h s c h i l d p r o p o s e d t o a d v a n c e t h e L l o y d
500, o o o : f l o r i n s , o n c o n d i t i o n t h a t t h e S t a t e s h o u l d g u a r -
a n t e e t h i s l o a n . " C o u n t K o l o w r a t o p p o s e d t h i s p r o p o s a l ,
a n d m a d e t h e f o l l o w i n g c o m m e n t o n t h e m e m o r a n d u m
" B a r o n v o n R o t h s c h i l d ' s p r o p o s a l s a r e m o s t s k i l f u l l y
d r a f t e d , a n d c a p a b l e o f t h e m o s t v a r i e d i n t e r p r e t a t i o n s
;
t h e y a r e i n a n y c a s e c a l c u l a t e d t o i n s u r e t h a t B a r o n v o n
R o t h s c h i l d s h a l l b e g u a r a n t e e d a g a i n s t a n y p o s s i b i l i t y o f
l o s s , a n d t h a t t h i s s h a l l b e t r a n s f e r r e d t o t h e S t a t e . T h e
b u r d e n o f r a i s i n g t h e c a p i t a l w o u l d f a l l u p o n t h e T r e a s -
u r y , a s w e l l a s t h e i n v i d i o u s a n d t i r e s o m e t a s k o f l e v y i n g
e x e c u t i o n i f t h e C o m p a n y s h o u l d b e f o r c e d t o g o i n t o
l i q u i d a t i o n , w h e r e a s B a r o n v o n R o t h s c h i l d w o u l d , n o m -
i n a l l y a t a n y r a t e , s t a n d b e f o r e t h e w o r l d a s t h e d i s i n t e r -
e s t e d p r o v i d e r o f t h e c a p i t a l . " 2 8
T h e p r o b l e m w a s f i n a l l y s o l v e d b y g r a n t i n g t h e H o u s e
o f R o t h s c h i l d a m o r t g a g e o n t h e c o m p a n y ' s s h i p s , p u t -
t i n g i t i n a p r i o r p o s i t i o n t o a l l o t h e r c r e d i t o r s , i n r e t u r n
f o r i t s g r a n t i n g t h e l o a n . T h e L l o y d s u r v i v e d t h e c r i s i s ,
a n d b e c a m e a g r e a t a n d p r o s p e r o u s c o m p a n y .
W h i l e t h e y w e r e a c q u i r i n g a l l t h e s e i n t e r e s t s i n t r a n s -
p o r t c o n c e r n s , t h e R o t h s c h i l d s d i d n o t o m i t t o c u l t i v a t e
t h e i r h i g h l y p r o f i t a b l e l o a n s t o g o v e r n m e n t s . A n d t h e y
w e r e m o r e a n d m o r e a c q u i r i n g t h e h a b i t o f a t t a c h i n g
d e f i n i t e p o l i t i c a l c o n d i t i o n s t o s u c h l o a n s .
T h e s e l f - a s s u r a n c e w i t h w h i c h t h e H o u s e o f R o t h s c h i l d
l a i d d o w n i t s c o n d i t i o n s , p a r t i c u l a r l y w h e n d e a l i n g w i t h
t h e s m a l l e r s t a t e s , w a s p a r t i c u l a r l y a p p a r e n t j u s t a t t h i s
t i m e i n t h e c a s e o f B e l g i u m
. D u r i n g t h e f i r s t y e a r s o f h i s
r u l e , K i n g L e o p o l d h a d g o v e r n e d h i s c o u n t r y w i t h i n -
t e l l i g e n c e a n d s u c c e s s
. H e r e c o g n i z e d t h e v a l u e o f r a i l -
w a y s , w h i c h h e d e c i d e d t o d e v e l o p o n a l a r g e s c a l e , a n d
a l s o b r o u g h t t h e m o s t v a r i e d u n d e r t a k i n g s i n t o e x i s t e n c e .
ShakingThrones

t 7 r
A l t hou gh su ch
u nd ert akingsw ereu l t im at el y p rof it ab l e,
t hey req u ired t heinv est m ent of great su m sof m oney at
t hest art , w hichB el giu m had t oend eav ort oob t ainin
t heP arism arket
.
This
w asm ad ed if f icu l t b y t hef act t hat t heB el go-
D u t chd isp u t e, arisingou t of t hesep arat ionof t het w o
cou nt ries, w asst il l not f inal l y set t l ed
. Thet w op rov inces,
L u x em b u rgand L im b u rg, w hichw erem eant t ob ep ar-
t it ioned b et w eent het w ost at es, rem ained , d u ringt he
w hol eeight y earsof t hed isp u t e, u nd erB el gianad m in=
ist rat ion
. Theird el egat escam et oB ru ssel s, and w hereas
it had f orm erl y b eent heK ingof H ol l and w hoop p osed
t hed ecisionsof t heP ow ers, it w asnow B el giu m t hat re-
f u sed t oaccep t ap art it ionof t het w op rov incesw it h
H ol l and
. F eel ingransohighinB el giu m t hat t heq u es-
t ionof w arw it hH ol l and w asagainonev ery b od y ' sl ip s
.
A t t het im e, J am esw asst ay inginR om e, w here, incon-
nect ionw it hal oangrant ed t ot heP op ein1 8 3 7 , hew as
b ringinghisinf l u encet ob earinf av orof hisco- rel igion-
ist s, w hil eSol om onw asrep resent inghim inP aris
. N ow
t heB el giangov ernm ent ap p roached t heP arisH ou seof
R ot hschil d w it hareq u est f oranad v anceof f ou rm il l ion
f rancsont hesecu rit y of t reasu ry b il l s
. Them oney seem ed
t ob eint end ed f oru seinB el giu m ' sm il it ary ad v ent u re .
TheH ou seof R ot hschil d rem ained t ru et ot hep ol icy
w hichit had now f ol l ow ed ov eral ongp eriod of y ears
;
t herew ereat hou sand reasonsw hy it had nou sef or
w ar
. I t p erceiv ed t hat , asont heoccasionof t hesep a-
rat ionof B el giu m f rom H ol l and , t hed angerof aw orl d
conf l agrat ionm ight arise, and f ort hisreasonSol om on
rep l ied t oB el giu m w it hacat egorical ref u sal
. " Thisd is-
ap p oint m ent , " C ou nt A p p ony irep ort ed ,
2 9 " hasgreat l y
em b arrassed t heB el gianG ov ernm ent b y d ep riv ingit of
t hef inancial resou rcesw hichareessent ial if it w ishest o
p u rsu eit sp rov ocat iv ep ol icy
. "
Therep resent at iv eof t heH ou seof R ot hschil d inB ru s-
sel sinf orm ed Sol om ont hat t heB el giangov ernm ent w as
1 7 2

TheR eign
of t heH ou seof R ot hschil d
annoy ed . " W ed onot int hel east resent t hef act , "
3 0 Sol o-
m onrep l ied , " t hat t heG ov ernm ent issom ew hat angry at
ou rref u sal w it hregard t ot heTreasu ry not es
. I t isnot
at al l ab ad t hingt hat t hesegent l em enshou l d real iz e
t hat t hey m ay cou nt onu sonl y asl ongast hey m ean
t o
f ol l ow ap ol icy of w isd om and m od erat ion
. W ehav ecer-
t ainl y giv ensu f f icient p roof of ou rint ent iont osu p p ort
and hel p t heB el gianG ov ernm ent , b u t
ou rgood - w il l nec-
essaril y st op sshort of t hep oint of p rov id ingt herod w it h
w hichw e
aret ob eb eat en, t hat ist osay , p rov id ingt he
m oney w ant ed t om akeaw ar, w hichw ou l d d est roy t he
cred it t hat w eareap p l y ingal l ou renergiesand resou rces
t om aint ain . Y ou m ay t el l t hesegent l em enw hat I hav e
w rit t enf reel y and f rankl y and w it hou t m incingw ord s
. "
Sol om onsim u l t aneou sl y sent acop y of t heab ov eex -
t ract f rom hisl et t ert oC ou nt A p p ony i, sot hat M et t er-
nichshou l d seehow hehad act ed ;
f orM et t ernichhad
al w ay shad ap rej u d iceagainst B el giu m , and Sol om on
w ished him t oseehow st rongl y hew assu p p ort inghis
p ol icy ont hisoccasion
. A p p ony isp eed il y rep ort ed t he
w hol eaf f airt oM et t ernich, encl osingt heex t ract and
ad d ingt hat t heH ou seof R ot hschil d had t hereb y ren-
d ered anew and rem arkab l eserv icet ot hecau seof p eace
and ord er, aserv icew hichhew asp l eased t orecogniz e
and ap p reciat eat it st ru ev al u e . "
M eanw hil et heR ot hschil d s' agent , w how ascal l ed
R icht enb erger, w asgoingf rom onem inist ert oanot her
.
H ew ent f irst t ot hef inancem inist er, C ou nt d eM erod e,
w hob el onged t ot hew arp art y
. H ed id not conceal
f rom t heagent t hat t hest at ew asm ost u rgent l y inneed
of m oney , b u t hem ad eit ap p arent t hat het ood id not
ap p rov eof t hep art it ionof t hep rov inces
. R icht enb erger
nex t w ent t oseeC ou nt d eTheu x , m inist erf orf oreign
af f airs, w hof av ored t hep eacep art y , and t ol d him of
hisconv ersat ionw it ht hef inancem inist er
. Thereu p on
d eTheu x q u it ed ef init el y asked him not t ogiv et he
f inancem inist erany m oney , and j u st t ol eav ehim inhis
ShakingThrones

1 7 3
d if f icu l t ies, w hereat hisw arl ikeard or, and t hat of t he
op p osit ionp art y , w ou l d sp eed il y ab at e
. Tow ard t hecl ose
of t heconv ersat iond eTheu x ad d ed t hat t heagent shou l d
askhisH ou sef orad v anceau t horit y im m ed iat el y t op ro-
v id ecashif t heC ham b ershou l d com et ot erm s, and ac-
cep t t het w ent y - f ou rart icl esof t heC onf erenceof L on-
d on, and t hereb y agreet ot hep art it ionof t hep rov inces .
H esaid t hat hehop ed t ob eab l et oind u cet heC ham b er
t od ot his
.
Theagent w ast ol d b y af riend of hisw hoknew t he
p osit iont hat t heB el giant reasu ry w asinp oint of f act
at av ery l ow eb b ind eed , t hereb eingonl y ab ou t 4 oo, ooo
f rancsav ail ab l e
. 3 2
Sol om onim m ed iat el y sent acop y of t hel et t ercont ain-
ingt hisinf orm at iont ohisH ou seat V ienna . "
" I send y ou herew it h, " hew rot e, " f orP rinceM et t er-
nich' sinf orm at ion, t heex act l et t erw hichI hav ereceiv ed
f rom m y agent inB ru ssel s
; it w il l show t heP rincej u st
w hat t heM inist erf orF oreignA f f airsand C ou nt M erod e
t hink
. They w on' t get af art hingf rom m eu nt il t hey giv e
w ay , and b ef oreI goaw ay I shal l l eav esim il arinst ru c-
t ionsf orm y b rot herJ am es . "
Sol om onw rot et ohissecret ary and m anagert ot he
sam eef f ect
: " I hop et hat B el giu m w il l now signt he
t w ent y - f ou rart icl es, esp ecial l y ast hey l ackt he
nerv u s
reru m
and asl ongast heart icl esarenot accep t ed , t he
B el gianG ov ernm ent w il l not get ahal f p enny f rom u s,
al t hou ght hey hav eb eenb eggingf orm oney f orm ont hs
.
D if f icu l t t hou ghI f ou nd it t okeep onref u sing, I shal l
f eel com p ensat ed if B el giu m y iel d sand p eace
is
rest ored ,
b y t heref l ect iont hat I shal l hav ed onem y b est t ocon-
t rib u t et osu charesu l t
. "
E v ent heK ingof H ol l and real iz ed t hat t hel engt hy
d isp u t eshou l d b eend ed
. H egav eL ond ont ou nd erst and
t hat hew asp rep ared t oaccep t t het w ent y - f ou rart icl es .
Thist im eP al m erst on' sgov ernm ent inE ngl and , and ev en
K ingL eop ol d ' sf at her- in- l aw inP aris, w ered et erm ined
1 7 4

TheR eignof t heH ou seof R ot hschil d


t oend t heb u sinessand nol ongert oencou rageB el giu m
inherresist ance
. Thew est ernand east ernP ow ersw ere
t heref oreinagreem ent , sot hat t heB el gianC ham b er,
af t erhav ingd el iv ered it sel f of p assionat esp eeches, had
noop t ionb u t t oagreet ot het reat iesw it hH ol l and t hat
had b eenset t l ed inL ond on
. Thisconst it u t ed acom p l et e
v ict ory f ort heR ot hschil d p ol icy
; p eacehad b eenm ain-
t ained and t hew ay w asnow cl earf orsaf ef inancial t rans-
act ionsw it hB el giu m
.
K ingL eop ol d at onceap p roached t heR ot hschil d sf or
t heconsid erab l el oanof 3 7 , 0 0 0 , 0 0
f rancs, f ort hep u rp ose
of rail w ay const ru ct iononal argescal e
. Thisl oanw as
grant ed b y t heH ou seof R ot hschil d b u t , asR ot hschil d
t ol d C ou nt A p p ony i, su b j ect t ot hreerem arkab l econd i-
t ions
: " int heev ent of t heou t b reakof w aral l f u rt her
p ay m ent sb y t heH ou seof R ot hschil d shou l d cease ; t he
B el giangov ernm ent w ou l d u nd ert aket osu p p ressp os-
sib l erev ol u t ionary m ov em ent inL u x em b u rg ; and t he
3 7 , 0 0 0 , 0 0 0
ad v anced shou l d act u al l y b esp ent onrail w ay
const ru ct ion .
TheH ou seof R ot hschil d int end ed t hereb y t oinsu re
against arev iv al of t hoseam b it ionsw hichhad j u st b een
renou nced .
M et t ernichw askep t f u l l y inf orm ed of al l t heseB el -
gianm at t ers, not onl y b y t heam b assad orand t hem inist er
concerned , b u t al sob y A m schel M ey erat F rankf ort , w ho
sent t hechancel l oracop y of any new shereceiv ed at
F rankf ort . M et t ernichhad asked him al sot osend cop ies
t ov onR echb erg, t hef orm ercharged ' af f aires, w hohad
b eent em p oraril y recal l ed f rom B ru ssel s, sot hat t hel at t er
m ight com p aret hem w it hhisow nsou rcesof inf orm a-
t ion, and t hu sarriv eat asaccu rat eap ict u reasp ossib l e
of t hep osit ioninB el giu m
.
A f t ert hesat isf act ory concl u sionof t heB el giand if f i-
cu l t ies, t hef ou rb rot hersont heC ont inent , and N at han' s
el d est son, m et at F rankf ort t od iscu sst hegeneral sit u a-
t ion, t akest ockof t heirp resent b u sinesst ransact ions, and
ShakingThrones
1 7 5
consid ert heiract ionw it hregard t ot hef u t u re
. Thisw as
inSep t em b er, 1 8 3 9 , j u st w henM et t ernichand hisw if e,
t heP rincessM el anie, w erest ay ingat Schl ossJ ohannis-
b erg, w hencet hey p aid av isit t oF rankf ort
. Thet hree
b rot hers, " ou rSol om on, " asP rincessM el aniecal l ed him ,
A nsel m , and J am esim m ed iat el y cal l ed ont hem . The
m anager, G ol d schm id t , accom p anied t hep rincess, and
hel p ed herw it hhershop p ing
. Tw oof t heR ot hschil d s,
Sol om onand C arl , al soaccom p anied her, t hel at t erhav -
ingj u st arriv ed f rom N ap l es . "
M et t ernichinv it ed Sol om onand hisw if et oJ ohannis-
b erg, and t hey p rom p t l y accep t ed t heinv it at ion
. A l l
kind sof b u sinessw ered iscu ssed d u ringt hev isit , con-
cessionsw ereasked f or, and t heq u est ionof int erv ent ion
w assou nd ed
. M et t ernichp rom ised , am ongot hert hings,
t ou sehisinf l u encet osecu reright sof cit iz enship in
F rankf ort f orSol om on' sm anager, M orit z G ol d schm id t
.
O nhisret u rn, Sol om onw rot et ot hankt hep rince, ex -
p ressinghisd el ight
. w it ht heir" m ost graciou srecep t ion
at l ov el y J ohannisb erg . "
3 6
M eanw hil et hew orl d sit u at ionhad not b ecom eany
rosier
. N osoonerhad d angerof w arb eenb anished int he
W est t hanom inou ssignsof t rou b l eb egant oap p earin
t heE ast
. M ehem et A l i, t hesu l t an' sv iceroy inE gy p t , had
u su rp ed enorm ou sp ow erat t heex p enseof hissov ereign
.
W hil est il l f orm al l y su b j ect t ot hesu l t an, hep aid l it t l e
at t ent ioninp ract icet ohisau t horit y
. B eingat enm it y
w it ht heP ashaof A cre, heinv ad ed Sy ria, w hichhad
b eenal l ot t ed t ohissp hereof inf l u enceinM ay ,
1 8 3 3 ,
M ehem et A l inex t t u rned hisat t ent iont oA rab ia, b u t
t hisd id not p l easeE ngl and at al l
. R u ssiaand A u st ria, in
t heirend eav orst op rot ect t hel egit im ist p rincip l e, had
esp ou sed t hecau seof t hesu l t anasagainst hisinsu rb ord i-
nat ev iceroy
; t heirsy m p at hiesw eret heref oreont hesam e
sid east hoseof E ngl and
.
E ncou raged b y t hisf act , t heSu l t anM ahm u d end eav -
ored , in1 8 3 9 , t osu p p resst heinsu b ord inat eM ehem et A l i
.
1 7 6

TheR eignof t heH ou seof R ot hschil d


B u t t hesu l t an' st roop sw ereb eat enb y t heE gy p t ian,
F ranceal oneam ongt heP ow ersv iew ingt hisv ict ory w it h
sat isf act ion
; f orM ehem et A l iw asf riend l y t ot heF rench,
and asF rancew asinp ossessionof A l giersit w ast oher
int erest t ob eongood t erm sw it ht hep ow erf u l P ashaof
E gy p t . Theot herP ow ers, how ev er, E ngl and , R u ssia,
A u st ria, and P ru ssia, w ished t ohel p t hesu l t aninhis
d if f icu l t ies, and signed a . t reat y onJ u l y i5 , i8 go- t he
Q u ad ru p l eA l l iance- p rov id ingt hat t hesu l t anshou l d
b eassist ed if necessary , b u t t hat M ehem et A l ishou l d b e
al l ow ed t okeep E gy p t and sou t hernSy riaonl y , asa
hered it ary kingd om u nd ert heov erl ord ship of t hesu l t an .
That b eingt hep osit ion, t heal l iancenecessaril y ap -
p eared inP arist ob ed irect ed against F rance, w hof ou nd
hersel f isol at ed f rom t hew hol eof t herest of E u rop e .
TheC ham b ers, t hep ress, societ y , and t heP al aceal l f el t
keenind ignat ionat t hissl ight t oF rance, and f el t t hat her
honorw asat st ake . Thiers, t hep rim em inist er, b reat hed
f ort hf ireand sl au ght erinhisnew sp ap ersagainst P al -
m erst on, t heB rit ishsecret ary of st at ef orf oreignaf f airs,
and against t het reat y ingeneral . Thiers' sat t it u d ew as
p art icu l arl y aggressiv e, b u t ev enL ou isP hil ip p e, w hoin
hisheart w ished t om aint aingood rel at ionsw it ht he
P ow ers, w asp rof ou nd l y d isp l eased w it ht het reat y , al -
t hou ghat t hesam et im ehest at ed t hat hew ou l d d oev ery -
t hingp ossib l et om aint ainp eace . I nany case, int ensiv e
m il it ary p rep arat ionsw ered ecid ed u p on .
A p p ony iw rot einal arm 1 1 t hat t het reat y had b een
t akenv ery seriou sl y inP aris, and t hat it w asregard ed as
am at t eraf f ect ingt henat ional honor . H esaid t hat t he
kingw assincerel y anx iou st om aint ainp eace, b u t t hat t he
heirt ot het hrone, t heD u keof O rl eans, w asenorm ou sl y
ex cit ed , and inf av orof w ar, and t hat hew ou l d su p p ort
Thiers . " Thep osit ionisex ceed ingl y seriou s, " t heam b as-
sad orrep ort ed . " I f p eop l ew il l p l ay w it hf ire, asit seem s
t hey m eant od ohere, ageneral w orl d conf l agrat ionm ay
easil y resu l t . "
L ou isA d ol p heThiers
ShakingThrones

1 7 7
TheK ingof B el giu m w asal sod eep l y concerned at t he
st at eof af f airs
. H eal read y had v isionsof hiscou nt ry ,
w hichw asachiev ingp rosp erit y af t erm u chhard w ork,
b ecom ingat heat erof w arov erw hichF renchand P ru s-
sianarm iesw ou l d f ight . "
" H eist hem oreal arm ed , " A p p ony iironical l y re-
p ort ed , " sinceB aronA nsel m R ot hschil d hasinf orm ed
him t hat t henew l oanw hichw asj u st read y f orsignat u re,
cannot b ecarried int oef f ect . H isM aj est y int end st ot rav el
t oE ngl and ont hed ay af t ert om orrow , w herehisp res-
ence, ashesaid t oH errv onR ot hschil d , w il l b eof great
serv iceat t hep resent t im e . "
I t w ast heref oret ob eex p ect ed t hat int hisq u art er
ev ery t hingw ou l d b ed onet oinsu ret hem aint enanceof
p eace
; and t hisw asw hat A nsel m had w ished t oconv ey .
A nsel m al sow rot et ohisf at her, Sol om on, w how asst ay -
ingat F rankf ort , say ing, " I t ishop ed t hat P rinceM et t er-
nichw il l m od if y t heagreem ent of t herst hJ u l y insu ch
aw ay ast osav et hef aceof F rance . " 8 9
A t t hat t im eJ am es, w how asst il l aw ay , w asb eingrep -
resent ed inP arisb y A nsel m , and Sol om onf eared t hat his
y ou ngsonm ight not b eeq u al t oasit u at ionw hichw as
const ant l y grow ingm oreacu t eand crit ical
. H et here-
f oreu rgent l y asked J am est oret u rn, and d ecid ed t ogo
t oP arishim sel f and w ait t hereu nt il J am escam eb ack
.
M eanw hil eJ am eshad set ou t f orP arisp ost - hast e, and
arriv ed int heF renchcap it al onA u gu st 3 , 1 8 go . This
m ad eit u nnecessary f orSol om ont om aket hej ou rney , as
J am eshad at oncesent him t hef ol l ow ingl et t er : 4 0
M Y D E A R B R O TH E R
I arriv ed saf eand w el l t hism orning, af t ersp end -
ingsom enight st rav el ing, b ecau seI d id not w ant t o
l eav eA nsel m al one .
I d onot b el iev et herew il l b ew ar, and am con-
v inced t hat Thiersm erel y w ant st oshow how sen-
sit iv eheis f or
t he
honor of F rance, in ord ert Q
1 7 8

TheR eignof t heH ou seof R ot hschil d


st rengt henhisp osit ion
. Thep u b l icherearest rongl y
inf av orof w ar, and t hep eop l ew il l b ep erf ect l y con-
t ent t of ight . B u t it isal l onl y w ord s, al t hou ght he
al l ianceb et w eenE ngl and and F rancew hichhas
al w ay sex ist ed isf inished , and I regard t hisasam is-
f ort u nef ort hef u t u re .
Thiscom m u nicat ionrev eal ed t hecal m b u sinesssense
and st rongcharact erof J am es, w how asnot t ob eaf f ect ed
b y any p anic . A nsel m w asal som u chrel iev ed t hat he
had nol ongert ob eart hew hol eresp onsib il it y al one .
" U ncl eJ am es, " hew rot ehom e, 4 1 " arriv ed b ackhere
saf el y t hism orning, t hef al l insecu rit ieshav inghast ened
hisret u rn . H eis, how ev er, hal eand heart y and l ooksv ery
w el l . M at t ersare, t hankG od , som ew hat b et t er . Thet one
of t henew sp ap ersism orem od erat e
. TheE ngl ishp ap ers
areind if f erent , and Thiersist ry ingt ocom eof f hishigh
horse
. M eanw hil et hem at t erisnot at anend and m ay
d ragonf orsom et im e . "
Thenex t d ay head d ed : " Thel iq u id at ionisov er, b u t
t heb rokershav eb eenv ery m u chinv ol v ed , and hav el ost
al ot of m oney . B el giansecu rit iesw ereu nsal ab l e . There
isl it t l enew s, b u t p eop l earel essal arm ed and b el iev et hat
p eacew il l b em aint ained . . . . E v ery t hingd ep end son
P rinceM et t ernichrem ainingcal m . "
TheL ond onR ot hschil d sw ereal soont heirgu ard
.
They rep ort ed t hat p ricest herew eref airl y f irm , b u t t hat
l it t l eb u sinessw asb eingd one, asev ery b od y w asanx -
iou sl y aw ait ingnew s . L ond onw ast al kingof aresol u t ion
t ob em ov ed int heH ou seof C om m ons, t hat t henav y and
arm y shou l d b est rengt hened . L ionel had im m ed iat el y
gonet oL ord C l arend on, l ord p riv y seal , w hot ol d him
t hat hed id not b el iev eit , asE ngl and saw noreasonw hy
t hereshou l d b ew ar .
4 2
W henJ am es' sreassu ringnew sreached L ond onhis
nep hew sreal iz ed w it hsat isf act iont hat t he" w av eof w ar
f ev erinP aris"
had som ew hat ab at ed , " TheB rit ishp u b -
ShakingThrones

7 7 9
l ic, " t hey rep ort ed , " " hasnof earat al l of aw ar, asis
v ery cl earl y show nb y t heheav y p u rchasesof secu rit ies
t hat areb eingm ad eb y p riv at ep ersons
. "
Theat m osp hereinP aris, how ev er, w asf arf rom b eing
asp eacef u l and q u iet asm ight hav eb eenex p ect ed in
v iew of t hisnew s
. W hennew sw asreceiv ed onA u gu st 5
t hat P ru ssiaand A u st riahad j u st rat if ied t hehat ef u l
t reat y onJ u l y i5 , nat ional sent im ent w asagainarou sed
.
" O u rp oorrent es, " A nsel m rep ort ed , " hav eagainshow n
am arked d ecl inet od ay
; t hereisp anicont heB ou rse,
new shav ingb eenreceiv ed t hat P ru ssia' sand A u st ria' s
rat if icat ionsof t het reat y hav eb eensent in
. I b el iev e,
how ev er, t hat it w il l al l com eright , f orI canassu rey ou
t hat t heG ov ernm ent hereisnol ongersoaggressiv e,
and hasd ecid ed f ort hep resent t oceasem il it ary p rep ara-
t ions
. R ep ort sf rom L ond onareal som u chm orep acif ic
.
U ncl eJ am es is goingt oseet heK ingt hisev ening
. "
4 4
Thekingd id inf act receiv eJ am esont heev eningof
A u gu st 5 inanau d iencew hichl ast ed m oret hant w o
hou rs . H ecom p l ained b it t erl y of t heP ow ers, say ingt hat
not onl y he, b u t hisson, t heD u keof O rl eans, had b een
m u chirrit at ed . A u st riashou l d not j oinw it hR u ssia
. W hy
shou l d ev ery t hingb ed onet oirrit at eF rance? H est il l
hop ed t hat , int heend , 4 6 " A u st riaw il l d eal w it ht his
com p l icat ionast he d eu sex m achina
and , t hrou ght he
w isd om and inf l u enceof P rincev onM et t ernich, not
m erel y w il l p eaceb em aint ained b u t F rancew il l b e
p l aced inap osit ioninw hichshecancom eou t of t he
af f airw it hhonor . "
" W hat ev erm ay now hap p en, " J am esconcl u d ed his
rep ort ont heau d ience, " I d onot b el iev et herew il l b e
w ar . "
4 6
Thisst rained sit u at ionw asst il l f u rt hercom p l icat ed
b y ap erf ect l y u nex p ect ed ev ent
. L ou isN ap ol eon, t he
et ernal p ret end ert ot het hroneof F rance, had em b arked ,
w it hf if t y - f iv ef ol l ow ers, inab oat f rom E ngl and , and had
l and ed ont he- night of A u gu st 6int heneighb orhood of
i8 o

TheR eignof t heH ou seof R ot hschil d


B ou l ogne, w hereaf ew of hissu p p ort ersw ereaw ait ing
him . H ehad , nod ou b t , im agined t hat as, w henhisgreat -
u ncl eret u rned t oF rancef rom E l b a, sot heking' st roop s
w ou l d goov ert ohissid enow , and b ringhim int riu m p h
t ot hecap it al . H ow ev ernot hingof t hekind occu rred .
Theking' st roop sm arched against him
; t heoccasional
criesof " V iv e1 ' E m p ereu r" w eresoonheard nom ore ;
t hep rinceand hist ru st y f ol l ow ersw eref orced t ot ake
t ot hesea, w here, af t erashort sw im , t hey w ereal l cap -
t u red
. Thet ragi- com icad v ent u rew asov erinaf ew hou rs,
b u t it serv ed t oincreaset hegeneral nerv ou st ensionin
F rance .
N at han' ssonsinL ond onst rongl y cond em ned t hisat -
t em p t . " Theaf f airof L ou isB onap art e' sl and ing, " t hey
w rot e, " isregard ed herew it hgeneral d isgu st , asb eing
asensel essand rat herd ist ast ef u l ad v ent u re
. I t issaid t o
hav eb eenaSt ockE x changep l ot , and t hat t herew ere
b rokersonb oard t hest eam er
. " 4 7
TheL ond onR ot hschil d shad receiv ed t hel at est new s
f rom P arisb ef oret hisev ent , and t hey rep ort ed t hat t he
st ockex changeat m osp herew asq u it eu ncanny , sincet hose
w hohad acarrierp igeonserv ice, and t hereb y receiv ed
earl y new sof P arisq u ot at ions, had sp read al l sort sof b ad
ru m ors .
They said P al m erst onhad j u st d el iv ered am od erat e
sp eechont hef oreignsit u at ion, and L ionel ob serv ed t hat
L ord P al m erst on' sq u iet and em p hat icsp eechhad
d issip at ed any id eaof w arinL ond on, and t hat he
hop ed it w ou l d show t heF renchp u b l ict hegam et hat
M M
. Thiersand G u iz ot had b eenp l ay ing .
E v ery w ord t hat any of t heR ot hschil d sw rot erev eal ed
how anx iou sl y and const ant l y t hey w ereend eav oringt o
d oev ery t hingp ossib l et om aint ainp eace, ast hey w ere
al w ay sf earf u l ab ou t t heirgreat u nd ert akingand f inan-
cial com m it m ent s . They cl osel y w at ched t hep ol it ical
sit u at ionast hey w ou l d ab arom et er, rep ort ingt oone
a4 ot hcrev ery oscil l at ionof , t heneed l e . P al m erst on'
Shakinq Thrones

1 8 1
sp eechw asf ol l ow ed b y asp eechf rom t het hroneb y
Q u eenV ict oria, w hich, asL ionel rep ort ed ,
4 8 " w asen-
t irel y t y p ical of su chsp eeches, t hat is,
had not m u chin
it
. " N ev ert hel essL ionel and hisb rot hersf ou nd t hat t heir
" f riend s, " ast hey cal l ed t hem inist ersand p ersonsw ho
had inf l u ence, w eresom ew hat w orried , asev ery b od y
w asw ond eringhow it w ou l d b ep ossib l et oal l ay F rench
p assion, af t ert heF renchhad b eensot errib l y ex cit ed b y
Thiersand t hep u b l icp ressov ert heeast ernq u est ion
.
Theq u een' ssp eech, asJ am esrep ort ed , cau sed great d is-
sat isf act ioninP aris, asit m ad enoref erencet oF rance
.
" E v ery onehere, " hew rot e, " isv ery ind ignant , and in
am ost b el l igerent m ood , sot hat rent eshav ef al l ent o
8 0
. 2 0 . . . .
Thishasf right ened p eop l e, and w em u st
hop et hat t om orrow t hey w il l b einaq u iet erf ram eof
m ind . "
4 '
J am esd id not f ail t of req u ent t hesal onsand au d ience
cham b ersof inf l u ent ial and highp ersonages
. H av ing
heard t hat t heD u keof O rl eansw assost rongl y inf av or
of w ar, heob t ained anau d ienceof him , w it h
a v iew t o
b ringinghim t ohisow np ol it ical p oint of v iew
. Thed u ke
act u al l y said t ohim : 60
" W ed onot w ant aw ar, b u t if
ot hersaim at u nd erm iningt heK ing' shonorand p op u -
l arit y , and w eakeninghim at hom e, t hen- "
J am essaw t oit t hat M et t ernichheard al l t hisat once,
and , know ingt hat hisl et t erst oSol om onw ou l d b eshow n
t oM et t ernich, hew ascaref u l t op hraset hem insu cha
w ay t hat t hechancel l orw ou l d b einf l u enced t oad op t t he
R ot hschil d p oint of v iew
. Thed u keal sot ol d J am est hat
new p rop osal sf ort hesol u t ionof t heeast erncrisishad
b eensent t oE ngl and , t heK ingof B el giu m act ingas
m ed iat or
. B ot hJ am esand N at haniel ( N at han' st hird
son, w how asst il l inP aris) int heirl et t erst oSol om on
had of l at eb eenconst ant l y l am ent ingt hef act t hat P rince
E st erhaz y w asnot inL ond on, sincehisrep resent at iv e,
t hecharged ' af f airesv onN eu m ann, w asaregu l arw ar-
m onger
. "
1 8 2

TheR eignof t heH ou seof R ot hschil d


N at haniel act u al l y w rot et ohisu ncl esay ing :
5 2
" I hear
t hat B aronN eu m annisinagreat st at eof ex cit em ent , and
p reachingw ar . " Sol om onsaw t oit t hat su chst at em ent s
w erenot om it t ed f rom t hecop iesof l et t erst hat hel aid
b ef oreM et t ernich
.
Thegu id ingp rincip l eof t heR ot hschil d sat crit ical
t im essu chast hesew ast ogoab ou t asm u chasp ossib l e
insociet y , and t oseekou t ev ery op p ort u nit y of m eet ing
l ead ingst at esm en, roy al t ies, and inf l u ent ial societ y
w om en, nev erm issingachanceof col l ect ingnew s . This
ischaract erist ical l y show ninal et t erf rom L ionel t ohis
u ncl eJ am esand hisb rot herN at haniel . " W ehad t he
p l easu rey est erd ay , " hew rot eonA u gu st
2 2 , I 8 4 o, 5 3 of
get t ingy ou rm ail , and w earev ery grat ef u l t oy ou f orit
since, asI canassu rey ou , w ew ered ist inct l y u neasy .
C onsol sop ened at 8 9 Y 8 ; it issaid t hat t heow nersof car-
rierp igeonsw ereb u y ing ; t hey cl osed at 8 9 /
.
" W esaw al l ou rf riend s, t oget new s, and heard t hat
ev ery b od y w asp art icu l arl y p l eased w it hK ingL eop ol d ,
w hohad cont rib u t ed agreat d eal t oreconcil ingE ngl and
and F rance . W et hensp oket oanot herp ersonof im p or-
t ance, and shet ol d u st hat ev ery t hingw ascom p l et el y
changed , incl u d ingF rance' st one, w hichw asq u it ed if -
f erent f rom w hat it had b een
. . . . E v ery oneisof op in-
iont hat M ehem et A l i, if hed oesnot com p l et el y giv e
w ay , w il l at any rat em akef reshp rop osal s . B u l ow and
al l t heot hersared iningw it hu st om orrow , and w em ean
t ogot oW ind sort ooand t ry t oseeK ingL eop ol d . I f
t hereisany t hingof int erest t orep ort w eshal l send y ou
acou riert om orrow night . W ehav eheard t hat M . G u iz ot
[ t heF rencham b assad orinL ond on] d ined al onew it h
L ord P al m erst on and P rincessL iev en y est erd ay ;
H . N eu m annw ast hereand say st hat G u iz ot w asex ceed -
ingl y cheerf u l , and t hisisam u chb et t ersign, esp ecial l y
asw ew eret ol d t hat G u iz ot and L ord P al m erst onw ere
sof u riou sw it honeanot herw hent hey m et at W ind sor
t hat t hey w ou l d scarcel y sp eak . "
ShakingThrones

1 8 3
K ingL ou isP hil ip p ew asat t hat t im eu nd ergoinga
sharp m ent al conf l ict . O nt heonehand it w asob v iou s
t ohim t hat hecou l d not f ight f orM ehem et A l iagainst
t hew hol eof E u rop e
. Su chact ionw ou l d hav eb een
f rau ght w it hd isast erf orhim sel f and hisd y nast y
. O nt he
ot herhand hed id not w isht oof f end hisp rou d and sen-
sit iv ep eop l e, ort om akehim sel f u np op u l arb y ap u b l ic
hu m il iat ion
. O noneoccasionhegav ef reereint ohis
f eel ings, t ot heA u st rianam b assad or, f u l m inat ingagainst
t heP ow ers, w hohad p l aced him insu chanaw kw ard
p osit ion . C ou nt A p p ony iw asq u it eaf f ect ed b y t herage
w it hw hicht hekingsp oke . H erep ort ed t hat henev er
had seenhim sov iol ent orresent f u l , and t hat hew asp ar-
t icu l arl y incensed against t het sar .
" TheTsarN ichol as, " t hekinghad ex cl aim ed , " has
al w ay saim ed at d est roy ingt heF ranco- B rit ishA l l iance,
and at l ast hehassu cceed ed ind oingso
. A l l t herest of
y ou craw l and shiv erb ef orehim . . . I am , I m u st ad -
m it , d eep l y hu rt
. Tob el ef t ou t int hecol d , t ob et reat ed
asap ariahand arev ol u t ionary K ing, asy ou al l t reat m e
- canI b eex p ect ed t ob eart hat ? D oy ou t hinkt hat I
hav enob l ood inm y v eins? Y ou hav eu p set t hew hol eof
E u rop e, and sp oil t t hew hol ep osit ion, w hichI hav e
f inal l y m anaged t oachiev eaf t ert eny earsof ex t raord i-
nary ef f ort . "
Thekingw ent ont osay t hat t ohav eisol at ed F rance
t hrou ght henew Q u ad ru p l eA l l iancew asanact of u n-
p aral l el ed f riv ol it y , f rom t hep oint of v iew of m aint ain-
ingp eace . H et henend eav ored t op ersu ad eA p p ony it o
u rgehisp rincet oget rid of t heu nf ort u nat et reat y of
J u l y is .
W hent heam b assad ord ecl ared t hat hecou l d
not p ossib l y t akeact ion, t heking, hav ingcal m ed d ow n
som ew hat , assu red him t hat hew ou l d d oev ery t hingt o
m aint ainp eaceasl ongasp eacew asconsonant w it ht he
d ignit y of F rance . Them onarchp oint ed ou t , how ev er,
t hat circu m st ancesm ight occu rinw hichhew ou l d b e
f orced , ev enagainst hisw il l , t ogot ow ar
.
1 8 4

TheR eignof t he H ou se of R ot hschil d


Thisd isp l ay of f eel ingb y t hekingw asnod ou b t not
ent irel y u np rem ed it at ed , ashehop ed t herem ight b ea
chanceof b reaking u p t heQ u ad ru p l eA l l iance . A t t he
sam et im eheex p l oit ed t hep rev ail ingm il it arist icsp irit
m at erial l y t ost rengt henhisnegl ect ed arm y , w hichit m ay
w el l hav eseem ed highl y d esirab l ef orhim t od o, q u it e
ap art f rom t hed angerof w ar . F u nd am ent al l y , how ev er,
hew asreal l y anx iou st om aint ainp eace, and int hisd e-
sirehew asent irel y at onew it hJ am esR ot hschil d . D u ring
t hiscrit ical p eriod , t hem onarchrel ied agreat d eal on
t hew iseol d f inancier. H el ooked t oJ am esf orsou nd ad -
v ice, and rel ied onhim asanint erm ed iary and ap erson
w hocou l d skil f u l l y b ringt heright inf l u encesint op l ay ;
and ast heiraim sw ereid ent ical , t hem onarchand t he
J ew ishb ankerw ereof t eninoneanot her' scom p any .
Theirconv ersat ionsw ereim m ed iat el y rep ort ed t ot he
b rot hersint heot hercap it al s, w how ou l d d ot heirb est
t ot u rnt hem t ogood accou nt , b ot hp ol it ical l y and
f inancial l y .
" Y est erd ay ev ening, " N at haniel rep ort ed f rom P aris
onSep t em b er6, 1 8 go, 64 " U ncl eJ am esw asw it ht heK ing,
w hoasu su al w asex ceed ingl y cord ial t ohim , and said
t hat hef el t sof riend l y t ow ard shim t hat hew ou l d w arn
him t ob eonhisgu ard , asI b rahim P ashaw ou l d v ery
p rob ab l y m archacrosst heTau ru s, w hichw ou l d p rod u ce
su chcom p l icat ionst hat it w ou l d b eim p ossib l et osay
how t hem at t erw ou l d end . I t seem s, m y d earU ncl e, t hat
m at t ersarenow com ingt oahead , and al t hou ghit is
cert aint hat t herew on' t b eaw arw eshal l , asanim -
p ort ant p ersonint heB rit ishE m b assy heresaid , get so
neart ow art hat t hew orl d w il l b et errif ied and secu rit ies
w il l of cou rsef al l . R ent escl osed u l l , at 7 9 . 1 0 , t hereb eing
v ery l it t l eb u siness . "
Thenex t d ay t heou t l ookw asst il l w orse . " R ent eshav e
f al l ent o7 6 . 2 0 , " N at haniel w rot et hat d ay ,
5 5
" t herehav -
ingb eenan em eu t e hereinP arisint heF au b ou rgSaint -
A nt oine, w heret hereaream assof w orkingp eop l eand
ShakingThrones

1 8 5
t ent im esasm any t roop s . Therew il l p rob ab l y b eal it t l e
f ight ing, b u t it isgeneral l y b el iev ed t hat t heaf f airw il l
soonb eov er . The em eu t e
isu nf ort u nat el y not t hep rin-
cip al cau seof t hef al l inrent es, t hep ol it ical new sb eing
v ery b ad
. F ight inghasb egu nint heE ast . . . . A w el l
inf orm ed f riend hasj u st b eent oseem e, and hesaid t hat
t hey had had am a- il f rom V iennay est erd ay , f rom w hich
it iscl eart hat t hereisconsid erab l eind ignat ionagainst
t heF rencht here . . . Thiersisal sosu p p osed t ob em u ch
ex cit ed , and G od know show it w il l al l end
. Thenew s
f rom Sp ainal soseem st ob eu nsat isf act ory . "
TheP ow ershad ind eed b egu nt ot akem il it ary act ion
int heE ast against M ehem et A l i . A j oint A ngl o- Tu rkish-
A u st riansq u ad ronhad b eenord ered t ot hecoast of Sy ria
.
Thiscau sed great ex cit em ent inP aris
. " Thep rosp ect son
t heB ou rsehere, " J am esrep ort ed onSep t em b er9 , 66
" are
not at al l good
. A l l secu rit ieshav ef al l env ery heav il y ,
and rent escl osed at 7 3 . 60 , t he5 p ercent sat io5 . 6o . . .
W enat u ral l y d on' t b el iev eev ery t hingw ehear, b u t t here
isconsid erab l ep anic, f orit isaf act t hat A d m iral N ap ier
hast akensev eral E gy p t ianship sw it ht roop sand m u ni-
t ionsonb oard
. I hav eseenThiers, w hoinsp it eof al l
t hissp eaksinap acif ict one, and b ot hheand t heK ing
hop et hat M ehem et A l iw il l hav erecou rset ot heF rench
asm ed iat orst oset t l et hisq u est ion . "
I t seem ed t ob eaf av orab l em om ent f orcarry ingou t
ap l anw hichhad l ongb eencherished ; nam el y , t of ort if y
P aris . Thisw asint erp ret ed asind icat ingw arl ikeint en-
t ions, b u t t heR ot hschil d sim m ed iat el y l earned t hat su ch
ab el ief w asu nf ou nd ed .
" M y d earb rot hers, " J am esw rot ew it hhisu su al q u iet
conf id ence, w it href erencet ot hegov ernm ent ' sd ecision,
" rent esf el l w hent heB ou rseop ened , b ecau seit b ecam e
know nt hat t henew sp ap ersw il l t om orrow p u b l isht he
f act t hat P arisist ob ef ort if ied . Theid eaof f ort sd et aches
hasb eenu nd erconsid erat ionf orsev eral y ears, and t he
K ingist akingad v ant ageof t hep resent sit u at iont ocarry
1 8 6

TheR eignof t heH ou seof R ot hschil d


it int oef f ect , asheregard sit asam ost im p ort ant m easu re,
not onl y t oinsu resecu rit y against f oreignenem ies, b u t
al sot osaf egu ard t hep osit ionat hom e . I np oint of f act
b ot ht heK ingand Thiersarem orep acif ical l y incl ined
t hanev er . Thef orm erhashad am ost f riend l y conv er-
sat ionw it hC ou nt A p p ony i, inw hichhet ol d him t hat he
shou l d not b em isl ed b y t hism easu re, ast hey w ou l d hav e
had t ocarry it ou t inany case .
" P rincessL iev enhashad l et t ersf rom E ngl and t od ay
t hat st riket hesam ef riend l y not e, and al l t heM inist ers
t hat I m eet hereareof t hesam em ind . Thef al l inrent es
hasb eencau sed b y som ew ret ched j ou rnal ist sw hosp ec-
u l at eont heB ou rse, and t hep u b l icb el iev et hey arein
t heknow . " 67
TheL ond onR ot hschil d skep t b esiegingt heF rench
A m b assad orG u iz ot and al l t heot herrep resent at iv esof
f oreignP ow ers, inord ert oget new s ; at p art iest hey
al w ay st ried t oget int oconv ersat ionw it hacab inet m in-
ist er . O neof t hem su cceed ed ind iscov eringaf riend w ho
had j u st sp okent oanim p ort ant p ersonagew hohad re-
t u rned f rom Sy ria, hav ingb eensent t hereb y P al m erst on
.
They heard f rom arel iab l esou rcet hat t hep rim em in-
ist er, L ord M el b ou rne, and P al m erst onhad had a
q u arrel , and t hat rel at ionsb et w eent hem w erest rained
.
They al soascert ained t hat ev ery b od y inL ond oncom -
p l ained of t hew ay L ou isP hil ip p et al ked ab ou t E ngl ish
m inist ers, ashew asal l eged t ohav est at ed onsev eral
occasionst hat L ord P al m erst onhad receiv ed al argesu m
of m oney f rom R u ssia .
M eanw hil et heSy riancam p aignp roceed ed . Thep osi-
t ionof M ehem et ' sst ep sonI b rahim b ecam em oreand
m ored angerou s
. Thecit y and f ort ressof B eiru t , w hich
w erest il l hel d b y t heE gy p t ian, w ereb om b ard ed b y t he
A l l ied P ow ers
. N erv esinP arisb ecam em oreand m ore
st rained
. I t w asnow b eingd ef init el y st at ed t hat Thiers
su p p ort ed t hed angerou sw arp ol icy
. That b eingso, he
w asb ou nd t of orf eit com p l et el y t hesy m p at hy of t he
ShakingThrones

1 8 7
R ot hschil d s
. N at haniel , w how asb y now al soal arm ed
and angry w it hThiers, w rot eonSep t em b er
2 2 , 1 8 4 0 , 69
say ing
" Thep osit ionisst il l conf u sed and u ncert ain . G od
know show t heseim p ort ant q u est ionsw il l b esol v ed , and
how M . Thiersw il l get u sou t of t heaw kw ard sit u at ion
int ow hichhisirresp onsib il it y and hisnat ional ist icp eas-
ant ob st inacy hav eb rou ght u s . O u rp osit ionism ad ew orse
b y t hef act t hat Thiers' sp ol it ical st and ingrest su p onsu ch
acom p l icat ed
st ru ct u re, b u il t u p of som any v ariou s
el em ent s, t hat it isal m ost im p ossib l e, and w ou l d ind eed
b ed angerou sand al t oget heru nw ise, t oov ert hrow him
;
sot hat w em u st l ookonq u iet l y w hil et hism ost arrogant
of al l p arv enu sget st hiscou nt ry m oreand m oreinv ol v ed
ind if f icu l t ies, and u sal l w it hhim t hrou ghhisirresp onsi-
b il it y and d ep rav ed l ib eral ism
. W em u st hop et hat t hings
w il l hap p enot herw iseand t hat w em ay l ookf orw ard t o
ahap p ierf u t u re . "
Thep osit iongrew m oreand m orecom p l icat ed and
ev enJ am es, w how asgeneral l y sow iseand cal m , d id not
know w hat t om akeof t hings
. " M y d earb rot hers, " he
w rot eonSep t em b er 2 5 ,
69
" I
real l y d on' t know w hat t o
w rit ew it hou t m isl ead ingy ou . I w asw it ht heK ingy es-
t erd ay ev eningand sp oket ohim f orov ert w ohou rs, and
y ou cannot im aginehow ex cit ed t hegood m anw as
. H e
said t om e . . . ` P rinceM et t ernichact ssl ow l y , b u t
ev ent st aket heircou rse, and int heend w arw il l b ein-
ev it ab l e . TheP rinceisab sol u t el y l ed b y R u ssia, and b e-
l iev est hat R u ssiaw il l b ringp eace, b u t E ngl and and
R u ssiaareinagreem ent . P al m erst onw ant st orob F rance
of herhonor, and red u cehert ot hest at u sof am inor
P ow er. M eanw hil ew earearm ingasint ensiv el y asp os-
sib l e, and p eaced ep end sont hat cou nt ry t ow hichI am
at t ached heart and sou l
; if onl y M ehem et A l i' sl ast p ro-
p osal sw ou l d b eaccep t ed 1 ' I nshort , I - f ou nt hat t heK ing
w asasind ignant asont hep rev iou soccasion . C ou nt A p -
p ony i, how ev er, t ow hom I al w ay st el l ev ery t hing, st il l
i8 8

The
R eignof t heH ou seof R ot hschil d
b el iev esinp eace, and t hinkst hat t heK ingisonl y p l ay -
act ingt of right ent hem
. M eanw hil erent eshav egoneu p
b ecau seit issaid t hat at el egram hasarriv ed , rep ort ing
t hat M ehem et A l ihasy iel d ed .
" I real l y d on' t know w hat t ot hink
.
" P al m erst on' sp riv at esecret ary hasj u st b eenhere
. H e
t ol d m ed ef init el y t hat aconf erenceof al l M inist ersw ou l d
b ehel d inL ond ononM ond ay , t oconsid erw het hert h ; ,
p rop osal sshou l d b eaccep t ed
. H esaid t hat P al m erst on
w asab sol u t el y op p osed t oaccep t ingt hem , b u t t hat w e
shou l d com easneart ow arasp ossib l e . I am w rit ingy ou
al l t hisind et ail , m y d earb rot hers, t hat y ou m ay b ein
ap osit iont oj u d get hesit u at ion . TheK ingw asv ery
angry , t oo, ab ou t anot ef rom E ngl and askingw hy he
w ashav ingachap el b u il t at Tu nis .
" R ent escl osed at 7 3 . 60 . "
N ew scam ef rom Sy riat hat Said had b eent akenb y
st orm b y t heA u st riansand B rit ishonSep t em b er2 6 . This
nat u ral l y increased t heind ignat ionagainst E ngl and in
P aris, asf arasit w asp ossib l e
. J am esb ecam em oreand
m oreu neasy , and al read y b el iev ed t hat int heend w ar
w ou l d b einev it ab l e . H ew rot eem p hat ical l y t ohisb rot her
Sol om ont osay t hat heshou l d u rgeM et t ernichagaint o
ind u ceA u st riat ob em orem od erat e, and t ou sehisinf l u -
encew it hE ngl and int hesam ed irect ion .
" D ot el l t heP rince, m y d earb rot her, " hew rot et ohim
onO ct ob er5 , 8 0 " not t ol et P al m erst on' shot t em p erru n
aw ay w it ht hesit u at ion . N eu m annisnot p acif ic, and
al t hou ght heP rincecert ainl y w ishesonl y p eace, w em u st
b ev ery caref u l , f orp u b l icop inionhereisb ecom ing
sost rongl y inf av orof w art hat int heend noK ingand
noM inist erw il l b eab l et ocont rol t hesit u at ion . I b eg
y ou , m y d earb rot her, t ob ringt heseconsid erat ionshom e
t ot heP rince . "
R esent m ent inP arisb ecam em oreand m orep assion-
at e
. Thenew sp ap ersinf l am ed t hep assionsof t hep eop l e,
d ecl aringt hat t henat ional honorhad b eengrav el y in-
ShakingThrones

1 8 9
su it ed . Thiersad d ed f u el t ot hef l am es, and ad v ised t he
kingt of u rt herm il it ary m easu res, t oad em onst rat ionat
sea, and t oot heract ions, m ost d angerou sint heirconse-
q u ences . Theheirt ot het hrone, w how asf il l ed w it hm ar-
t ial ard or, u rged hisf at herint hesam ed irect ion . Thiers
had f orsom et im enot ed w it hd isp l easu ret heinf l u ence
w hicht heH ou seof R ot hschil d ex ercised u p ont heking .
I t w asd if f icu l t f orhim act iv el y t oop p oset heb ankb e-
cau sehehad d eb t s, and accord ingt oC ou nt A p p ony i,
heow ed t heH ou seof R ot hschil d , t oo, at l east 4 o, ooo
f rancs
; b u t t heint erf erenceof t heR ot hschil d shad now
gonef u rt hert hanhecou l d st and .
ThisG erm anJ ew f rom F rankf ort had t heef f ront ery
t ob am b ooz l et hekingint ot heb el ief t hat t hehonorof
F rancew asreal l y not inv ol v ed int hed ist ant af f airof
M ehem et A l i
. Thiersex p ressed hisirrit at ionat t hisst at e
of af f airs . I m m ed iat el y t heru m orw ent rou nd P arist hat
B aronR ot hschil d and ot herrichb ankershad t hreat ened
t hem inist ry w it hf orm id ab l eop p osit ion, if it p ronou nced
inf av orof w ar
. TheTim escom m ent ed ont hisinaP aris
l et t er . Them at t erw asq u it esim p l e, it said
. R ot hschil d
w asaf inancier, and t heref ored id not w ant w ar ; sof ar,
so good :
b u t B aronR ot hschil d w asanA u st riansu b j ect ,
and A u st ria' sconsu l - general inP aris, and aq u est ion
af f ect ingF rance' shonorw ast heref oreof p reciou sl it t l e
concernt ohim
. TheC onst it u t ionnel , Thiers' sp ap er, com -
m ent ed ont hisl et t eronO ct ob er 1 2
)
1 8 4 0 , 8 1 ob serv ingt hat
t hep osit ionw asp erf ect l y int el l igib l e, b u t askingw hat
H errv onR ot hschil d , t hef inancier, and H errv onR ot hs-
chil d , M et t ernich' sagent , had t od ow it ht heF rench
C ham b erand it sm aj orit y .
" W it hw hat right , " t hep ap erasked , " and u nd erw hat
p ret ex t d oest hiskingof f inanceint erm ed d l ew it hou r
af f airs? W hat concernof hisaret hed ecisionsw hich
F rancew il l t ake? I shet hearb it erof ou rhonor? A rehis
m oney int erest st ob eal l ow ed t oou t w eighou rnat ional
int erest s ? "
I go

TheR eignof t heH ou seof R ot hschil d


TheC onst it u t ionnel em p hasiz ed t hef act t hat it w as
p u b l ishingt heseru m orsinord ert hat , if t hey w eret ru e,
t hep u b l icm ight f ru st rat et heint rigu es . I f t hey w ere
f al se, R ot hschil d w ou l d hav et heop p ort u nit y of p u b l icl y
d eny ingt hem and of l et t ingt hecou nt ry know t hat it w as
not hisint ent iont od isp oseof m aj orit iesand m inist ries
.
J am esrep l ied onO ct ob er 1 2 , 1 8 4 0 : " Sir, I nsp it eof
m y rel u ct ancet ob ring m y nam eb ef oret hep u b l ic, I can-
not l eav eu nansw ered t heart icl einy ou rcu rrent nu m b er,
w hereinm y nam ef igu resinam ost u nf av orab l el ight
.
Thenat u reof t heseat t acksim p osesad u t y onm et ob reak
t hat sil encew hichI am general l y cont ent t oob serv e .
H ow , Sir, shou l d I p roceed t oref u t esu chasp ersions?
I canb u t w ond ert hat m enw hohav eseriou sm at t erst o
at t end t ow il l l end t heirearst osu chassert ions . I hav e
nev erat any t im eencou raged op p osit iont ot heG ov ern-
m ent f ort hesim p l ereasont hat I hav enev erw ished t o
p l ay ap ol it ical rol e . I am , asy ou st at e, af inancier . I f I
d esirep eace, I d esireit honorab l y , not onl y f orF rance
b u t f ort hew hol eof E u rop e, and inal l circu m st ances .
F inanciershav et heop p ort u nit y of rend eringserv icest o
t hecou nt ry , and I t hinkI m ay say t hat int hisresp ect I
hav enev erb eenb ehind hand . I f F ranceisnot m y nat iv e
cou nt ry , it ist hecou nt ry of m y chil d ren . I hav el iv ed in
F rancef ort hirt y y ears ; m y f am il y , m y f riend s, and al l
m y int erest sareint hat cou nt ry . "
TheC onst it u t ionnel p u b l ished t hisrep l y , and t hat
end ed t heincid ent
. Thiers, how ev er, f el t t hat , w it hou t
hav ingcom ef orw ard him sel f , hehad giv enanad eq u at e
w arningt oR ot hschil d not t ow orku p anop p osit iont o
t hep ol icy of t hem inist ry .
N ev ert hel ess, ev ent sw eret oshew t hat it w asR ot hs-
chil d ' s, and not Thiers' sp oint of v iew t hat had com et o
b ef irm l y ad op t ed b y t heking . I nhisheart t heking
heart il y d isl iked Thiersasarev ol u t ionary
. L ou isP hil -
ip p ew it hst ood t hew arl ikep rop osal sof hissonand his
m inist er . H eal sod ecl ared him sel f op p osed t oany nav al
ShakingThrones

1 9 1
d em onst rat ion
. Thew arl ikem inist erand t hep eacef u l
kingf inal l y agreed u p onakind of u l t im at u m t ot he
P ow ers, w hichw as, how ev er, essent ial l y accom m od at ing,
asit gav eu p al l cl aim st oSy ria, and asked onl y t hat t he
d ep osit ionof M ehem et A l ishou l d b erev oked .
E ngl and , t oo, d id not w isht oaccent u at et hecrisis, and
rep l ied inam oreconcil iat ory sp irit . Thep op u l arf eel -
ingw hichhad b eenarou sed b y Thiersw as, how ev er, not
t ob esoq u ickl y p acif ied , ev enif t hem inist erhad w ished
t od oso . A nu nsu ccessf u l at t em p t ont heking' sl if esu d -
d enl y b rou ght hom et ohim t hed angersnearat hand ,
w hichw ou l d necessaril y b em u chaccent u at ed b y ex t en-
siv ecom p l icat ionsab road . I t sef f ect u p ont hekingw as
t oat t achhim d ef init el y t ot heC onserv at iv ep art y , w hich
f av ored p eace
. Thisp art y had l at el y increased innu m -
b ers, esp ecial l y am ongt hep rop ert y - ow ningcl asses, w ho
f eared f ort heirl iv esand t heirp ossessions . TheJ ou rnal
d esD eb at s, w hichw asf riend l y t ot heR ot hschil d s, b e-
cam em oreem p hat icinit sw arnings
. B u t it w asnot so
easy f orThierst orev ersehisp ol icy
. Thesp eechf rom
t het hronep rov id ed t heoccasionf orcl earingu p t hesit -
u at ionb et w eent hekingand hism inist ers . Thiersp ro-
p osed t hat inhissp eechheshou l d cond em nt heTreat y
of L ond on, and d iscu sst hed isp osit ionof M ehem et A l i,
and t hecal l ingu p inad v anceof t he1 8 4 1 recru it s
. L ou is
P hil ip p eref u sed t om akeany ref erencesof t hiskind
.
" I w ant p eace, " heex cl aim ed ,
1 2
" and not w ar . I w ant
t op rom ot et ranq u il l it y and not t op rov okeand ex cit et he
w hol eof E u rop e . M y m il it ary m easu resarep recau t ion-
ary and not aggressiv e . "
" I nt hat case, " Thiersrep l ied , " w ecannot p ossib l y
agree, and t hereisnot hingf orm et od ob u t t oresign
. "
" V ery w el l , " rep l ied t hem onarch, " I shal l accep t y ou r
resignat ion . "
Thiersact ed inaccord ancew it ht hishint , and t he
kingd ism issed t hem inist ry .
A f t ert hisconv ersat ion, w hicht ookp l aceonO ct ob er
1 9 2

TheR eignof t he
H ou se of R ot hschil d
2 0 ,
i8 go, heob serv ed t oC ou nt A p p ony iw it hsom erel ief ,
" I t hinkI hav et akenq u it et heb est m om ent t orid m y sel f
of M . Thiers
; it w asarel ief t om et hat hehim sel f gav e
m et heop p ort u nit y of d oingso . H ew ast heonl y or, at
any rat e, t hep rincip al ob st acl eint hew ay of t hem aint e-
nanceof p eace . "
P arisand t hew hol ew orl d regard ed asam ost f ort u nat e
sol u t iont hischange, and t heap p oint m ent of t henew
m inist ry , w hichw asnom inal l y p resid ed ov erb y M arshal
Sou l t , b u t inp ract iceb y t hef orm eram b assad orinL on-
d on, G u iz ot , w hob ecam em inist erf orf oreignaf f airs .
I nhighent hu siasm t heR ot hschil d srep ort ed f rom
P aris
sa
t hat asaresu l t of t heap p oint m ent of t henew
m inist ry , and p art icu l arl y of t heconf id enceinsp ired on
t heB ou rseb y t henew f inancem inist er, M . H u m ann,
rent eshad ap p reciat ed consid erab l y . I t w ashight im e
f orachangeof p ol icy , f orM ehem et A l i' sst ep sonhad
j u st l ost t hep ow erf u l Sy rianf ort ressA cret ot heA l l ies,
b eingf orced t oret ireonSu ez , af t erl osingal l hisart il -
l ery
. TheE ngl ishad m iral ap p eared w it hhisf l eet b ef ore
M ehem et ' sresid enceat A l ex and ria . Thead m iral and
t heE gy p t ianv iceroy sooncam et oanu nd erst and ing .
Thew hol eof Sy riaw ast ob eev acu at ed , b u t M ehem et
A l i' sp osit ioninE gy p t w ast ob econf irm ed .
Sol om on, w horeceiv ed t henew sat F rankf ort , rep ort ed
t hesesat isf act ory ev ent sw it hgreat ent hu siasm , asind i-
cat ingt hat t heq u est ionsind isp u t eint heE ast m ight b e
consid ered asset t l ed . I t say sm u chf orSol om on' sf ar-
seeingj u d gm ent t hat heim m ed iat el y d irect ed hisef f ort s
t om akingt hep at hf orF rance, w hichhad , af t eral l , al -
read y rev ersed herp ol icy , aseasy and honorab l easp os-
sib l e . I t w asst il l b eingst at ed t hat F rancew asarm ing,
and w ant ed t oincreaseherm il it ary f orcest of iv ehu nd red
t hou sand m en .
" A l t hou ghI d onot b el iev e, " Sol om onw rot et oV ienna
onD ecem b erio, 1 8 4 o, 8 4 " t hat F rancew ishest ob ring
w arab ou t t hrou ghanem p hat icd em onst rat ionof t his
ShakingThrones

1 9 3
kind , w arb eingent irel y op p osed t oherint erest s, y et
in
m y hu m b l eop inion, I consid erit t ob ehighl y d esirab l e,
b y sat isf y ingF renchnat ional v anit y , t of ind som ew ay of
p ersu ad ingherC ab inet t oceaseal l f u rt herm il it ary p rep -
arat ionsand t hu st ob ringt het ensionand d if f erencesw it h
f oreigngov ernm ent st oasp eed y concl u sion . W ou l d not
su chasol u t ionb ef ou nd b y inv it ingF rancet oat t end t he
C onf erenceinord ert oset t l et heE ast ernp rob l em j oint l y
w it ht heot herP ow ers? . . . I f F ranceisanint egral p art
of t heC onf erence- and it seem st om et hat t hoseinp ow er
int hat cou nt ry arem erel y concerned t oconv incet he
noisy el em ent t hat shehasagainb eenreceiv ed w it hhonor
int ot heE u rop eancom it y of nat ions- al l reasonsf orf u r-
t herm il it ary p rep arat ionsau t om at ical l y cease, and gen-
eral p eacew il l b em orel ast ingl y and f irm l y est ab l ished
. "
" H av et hegood ness, " Sol om onb ad eW ert heim st ein
and G ol d schm id t inV ienna, " t ogiv ehisH ighnesst he
P rinceahint t ot hisef f ect , w henanop p ort u nit y occu rs ;
if heap p rov esm y su ggest ion, and isincl ined t oact onit ,
I hav enod ou b t t hat it w il l p rod u cesat isf act ory resu l t s . "
Thead v icew asm ost t im el y , f orP rinceM et t ernich
had j u st su ggest ed t hat F ranceshou l d b easked , t hrou gh
d ip l om at icchannel s, t ored u ceherconsid erab l earm a-
m ent s .
J am esp roceed ed t oad v anceargu m ent sagainst so
d oing
. H ew rot eal et t erw hich, asu su al , w asm eant f or
M et t ernich' sp eru sal , inw hichheend eav ored cl ev erl y t o
p ersu ad ehim ou t of hisint ent iont od em and ared u ct ion
inF rencharm am ent s .
" M y d earb rot hers, " hew rot e,
8 " " d on' t t hinkt hereis
any q u est ionof aw ar . TheP rinceist oocl ev ernot t o
u nd erst and t hep osit ionhere . I f t heM inist erherew ere
t osay any t hingab ou t red u cingt hearm y of f iv ehu nd red
t hou sand m en, w hichisregard ed asap eacearm y , he
w ou l d not rem aininp ow erf oronem om ent ; b u t t his
w il l hap p enau t om at ical l y assoonast heC ham b ersb e-
gint od iscu ssex p end it u re . P roof of t hisist o b ef ou nd
1 9 4

TheR eignof t heH ou se of R ot hschil d


int hef act t hat aconsid erab l ep art y isal read y b eing
f orm ed int heC ham b ers, w hoareop p osed t ot hef ort if i-
cat ions, and t hat t heM inist ry hav et od ay d ecid ed not t o
m aket hisaG ov ernm ent q u est ion, and t ol et t hem at t er
d rop . P eop l ehered onot w ant w ar, and t hey d onot
w ant ex p end it u re, b u t if G erm any b ringsp ressu ret o
b ear, t hep op u l aceherew il l regard it asint ent ional , and
t hisw ou l d m akeab ad im p ression
. I am conv inced t hat
t hey w il l d em ob il iz eahu nd red t hou sand inf ant ry , b u t
t hism u st not ap p eart ohav eb eenf orced u p ont hem , f or
af t eral l t hat hashap p ened int heC ham b ert heM inist ry
isasu nab l east heK ingt osend t hearm y aw ay at once,
asu nab l east hey w ou l d hav eb eent ot akep art incoerciv e
m easu resagainst t heP ashaof E gy p t .
" B eeasy , t heref ore, ast ot hep osit ionhere, and assu re
t heP rincet hat I seet oom any p eop l eheret ohav eocca-
siont of eart hat any t hingshou l d occu rw hichI cou l d not
and w ou l d not t el l him of , asit ism y d u t y t od o . "
A sJ am esand hisb rot hershad hop ed , nof u rt hercom -
p l icat ionsaroseint heE ast ernp rob l em . Thesu l t anand
M ehem et A l iw erereconcil ed
; t heP ow ersof t heQ u ad -
ru p l eA l l ianced ecl ared t hat t het reat y of J u l y 1 5 had
ex p ired , hav ingachiev ed t heob j ect f orw hichit w as
f orm ed . A nd t hey m ad et hew ay assm oot hasp ossib l e
f orF rancet ot akeherp l aceagainam ongt hem .
Thep rev iou st eny earshad seent hreehighl y crit ical
p rob l em sarise, eachof w hichb rou ght E u rop et ot he
v ergeof ad ev ast at ingw ar . O neachoccasiont heH ou se
of R ot hschil d had seent hep ol icy of p eacet riu m p h, t hat
p ol icy w hichw assoab sol u t el y essent ial t ot hem aint e-
nanceand p reserv at ionof t heirenorm ou sw eal t h . I t w as
not su rp risingt hat t heirsel f - conf id enceasw el l ast heir
p rop ert y cont inu ed t oincreaset oap rod igiou sd egree .
C H A P TE R V I
TheR ev ol u t ionof 1 8 4 8
W
H I L E t heR ot hschil d sw ereengaged int hesegreat
f inancial and p ol it ical q u est ions, t heircom m and
of m oney and t heirincreasingsocial p rest igeb rou ght
t hem int ot ou chw it ht hegreat m enof t hed ay inp aint -
ing, l it erat u re, and m u sic
. Thisw asesp ecial l y soinP aris,
w hit hert hem ost rem arkab l esp irit sof t het im ew ereat -
t ract ed f rom ab road b y t herel at iv ef reed om of t hep ress
f rom censorship .
Thegreat I t al ian, R ossini, had giv enu p hishom ein
I t al y and t henl ef t V iennaf ort hecit y ont heSeine . H e
had m ad et heacq u aint anceof t heR ot hschil d sasearl y
ast heC ongressof V erona, and hew asaf req u ent v isit or
at J am es' shou se, b einginv it ed t ot heint im at ef am il y
circl easw el l ast ot heb anker' ssp l end id recep t ions . I f
anart ist , inad d it iont ob eingf am ou s, w asal soof J ew ish
origin, hew asp art icu l arl y w el com eat t heH ou seof
R ot hschil d inP aris
. M ey erb eerw asam ongt hosew ho
w ereact iv el y assist ed and cord ial l y w el com ed
.
A f t ert heJ u l y rev ol u t ionand t hesev erem easu resw hich
M et t ernicht hereu p onap p l ied inG erm any and P ru ssia
against al l " l ib eral " t end encies, anu m b erof ref u gees
f rom p ol it ical op p ressionand t hecensorship cam et o
P aris
; am ongt hem w asH einrichH eine, w hosegreat am -
b it ionat t het im ew ast ob ecom eap rot agonist of p op u -
l arright s, and t oriseagainst t he" censorsof t hou ght
and t heop p ressorsof t hem ost sacred right sof hu m an-
it y . " 1 H ef el t him sel f t ob easonof t heR ev ol u t ion, b roke
al l l inksw it hG erm any , and t ooku p hisp erm anent resi-
d enceinP aris, ont he1 st M ay , 1 8 3 1
. L u d w igB orne, w ho
1 9 5
z q 6

TheR eignof t heH ou seof R ot hschil d


w as
a
rel at ionof H eineand hel d sim il arv iew s, b u t w ho
l at erb ecam eb it t erl y host il et ohim , l ef t G erm any f or
P arisat t hesam et im e .
H einesoonsu cceed ed inarou singgreat int erest in
P aris, ap ort ionof his" H arz reise" ap p earingint he
R ev u ed esd eu x M ond es, and t w oot herb ooksof his
b eingp u b l ished inF rencht ransl at ions . H isf am egrew
u nt il hew ast reat ed oneq u al t erm sasap oet of t he
f irst rank, b y t hem ost f am ou sof t hegreat m enin
P aris . A sacharact erhew asl essad m ired , ow ingt o
hiseccent ric, p arad ox ical , and u nb al anced nat u re . The
d ip l om at sinM et t ernich' sserv ice, w how ereconst ant l y
engaged insm el l ingou t rev ol u t ionaries, regard ed him
asacom p l et eou t cast .
A rep ort
2
w rit t enf rom t hisp rej u d iced p oint of v iew ,
cal l ed H eine, onaccou nt of hisu nrel iab il it y , " am oral
and p ol it ical cham el eon, " say ingt hat hehad noop inions
of hisow n, and m ight af f ect const it u t ional op inionst o-
d ay , " w hereast om orrow hew il l , w it heq u al skil l , p l ead
t hecau seof ab sol u t ism orof rad ical ism . " " H eisof a
cow ard l y nat u re, " t hisb it t errep ort cont inu ed , " al iarand
am anw how ou l d b ed isl oy al t ohisb est f riend
. C hange-
ab l easacocot t e, heisu t t erl y u nst ed f ast
; sp it ef u l as
aserp ent , hehasal l t heb eau t y and gl it t erof t hat crea-
t u re, and al l it sp oison
; w it hou t any real l y nob l eorgenu -
ineinst inct s, heisincap ab l eof asincereem ot ion
. H is
v anit y issu cht hat hew ou l d l iket op l ay aconsp icu ou s
rol e, b u t hehasp l ay ed ou t hisp art , heisnol ongert aken
seriou sl y , al t hou ghhist al ent srem ain . "
I t w asonl y nat u ral t hat H eineshou l d soonm aket he
acq u aint anceof J am esR ot hschil d , esp ecial l y asH eine' s
f at herhad know nt heR ot hschil d sw el l , hav ingb eencon-
st ant l y associat ed w it ht heH ou seinf inancial m at t ers
.
I t w ast heref oreeasy f orH einet oest ab l ishrel at ions
w it ht heH ou se, w hereasB ornerem ained al oof , hav ing
al w ay sb eeninop p osit iont ot heR ot hschil d s
. I nhissev -
ent y - second l et t er, sent f rom P arisonJ anu ary
2 2 ,
1 8 3 2 ,
TheR ev ol u t ionof 1 8 4 8 .
' 9 7
hehad ex p ressed him sel f innom easu red t erm sab ou t t he
b ankingf irm .
I nt hat l et t erB ornem ad ep l ay w it ht herel at ionsb e-
t w eenR ot hschil d and t heP op e, say ingt hat L ou isP hi-
l ip p ew ou l d b ecrow ned inP aris, inN ot reD am ed el a
B ou rse, w it hR ot hschil d f u nct ioningasarchb ishop
. H e
im agined at u rt l e- d ov ef l y ingt oSt . H el ena, p erchingon
N ap ol eon' sgrav e, and l au ghingl y narrat ingt hat it had
y est erd ay seenhissu ccessorcrow ned , not b y t heP op e,
b u t b y aJ ew .
W it hb it ingirony B ornesu ggest ed t hat it m ight b e
t ot hegreat est b enef it of t hew orl d if t hekingsw eregot
rid of and t heR ot hschil d f am il y w ereset u p ont he
t hrone
. Su chad y nast y w ou l d nev erhav erecou rset oa
l oan, f ort hey w ou l d hav et heb est reasont oknow how
d earl y su chl oansw ou l d hav et ob ep aid
. M oreov er, p eace
w ou l d b eassu red , sincet heR ot hschil d sw ou l d b eon
t hem ost ex cel l ent t erm sw it ht heH ou seof H ap sb u rg
.
B ornenex t p roceed ed t oshow how d earl y A u st riahad
had t op ay f ort heirf riend ship .
Tru e, noR ot hschil d y et occu p ied at hrone, b u t w hen
at hroneb ecam ev acant t hey w ereasked t oad v iseast o
w hoshou l d occu p y it
. I t w asm oreb it t ert hat al l t he
crow nsshou l d b eat t hef eet of t heR ot hschil d st han
t hat t hey shou l d b ew earingt hem ont heirhead s, f or
int hel at t ercaset hey w ou l d at any rat ehav et oshou l -
d ert heresp onsib il it y of kingship
. Them aj orit y of t he
E u rop eanp eop l es, B ornesu ggest ed , w ou l d l ongagohav e
at t ained t heirf reed om , had not t heR ot hschil d sand ot her
f inanciersap p l ied t heirw eal t ht ot hesu p p ort of ab so-
l u t ism . B it t erl y B orned escrib ed t heop erat ionsof t he
R ot hschil d s, show inghow t hey w ou l d d ep ressrent esj u st
b ef oreu nd erw rit ingal oan, and t henart if icial l y raise
t hep rice, im m ed iat el y af t ert heagreem ent f oranew l oan
w assigned
. Su chw ast he" gam e" t hat t heR ot hschil d s
al w ay sp l ay ed , t oenricht hem sel v esat t heex p enseof t he
cou nt ry t hat t hey ex p l oit ed . '
1 9 8

The R eign of t heH ou seof R ot hschil d


I nsu chcircu m st ancest herew asnat u ral l y noroom f or
B orneinJ am es' shou se . H einet oooccasional l y t u rned
hisb it ingsat ireont heH ou seof R ot hschil d . B u t hew ou l d
al soof t enw rit ef av orab l y ab ou t t hem , al t hou ghnot w it h-
ou t hav ingoccasiont ob egrat ef u l t oJ am esf orserv ices
of af inancial nat u re . The" great b aron" not onl y f re-
q u ent l y inv it ed him t oaf am il y m eal int hep riv at eroom s
of hisof f ice, b u t al so, asH einehim sel f t el l su s, inv it ed
him t ot akep art in" al m ost al l of hism oreim p ort ant
t ransact ions, of t enq u it esp ont aneou sl y . '
N ev ert hel ess, H einew asinv ariab l y short of m oney ,
w hichal w ay sm el t ed t hrou ghhisf ingers, and against
R ot hschil d ' sad v ice, heem b arked onot hersp ecu l at ions
w hichinv ol v ed him inseriou sl oss . H ed id not receiv e
regu l arrem it t ancesf rom R ot hschil d , b u t w ou l d of t en
giv ehim t ou nd erst and t hat hew asinneed of t hisort hat ,
w hereu p onJ am es, w hoad m ired hisgeniu sand f eared
hisp en, w ou l d send him som et hingu nd ert heingeniou s
p ret ex t t hat hehad m ad eap rof it inasharet ransact ion ;
som et im eshew ou l d d el ib erat el y ignoret hed isgu ised re-
q u est , and t hisw ou l d p rod u ceil l f eel ing .
W hent hem oney w asnot f ort hcom ing, H einew ou l d
p ond erm ored eep l y ont hep art p l ay ed int hew orl d b y
R ot hschil d ; hew ou l d com et oseehim asoneof t hegreat -
est rev ol u t ionaries- af ou nd erof m od ernd em ocracy .
R ichel ieu had u nd erm ined t hesov ereignt y of t hef eu d al
nob il it y ; w hen it had b ecom el az y and d egenerat eR ob es-
p ierrehad com p l et ed it sd est ru ct ion, b u t t hep riv at eow n-
ership of l and had su rv iv ed , and p rop ert y ow nershad
m erel y u su rp ed t hep ret ensionsof t heol d nob il it y , u nd er
anew gu ise . Thereu p ont heR ot hschil d sarriv ed , and had
ab ol ished t hed om inionof l and ow nership b y creat ingt he
sy st em of . st at eb ond sast hegreat est p ow er, and inv est -
ingm oney w hichany onecou l d p ossessat any p l ace, w it h
t hep rerogat iv est hat l and had p rev iou sl y enj oy ed . 5
H eineev ol v ed t heseid easaf t eraconv ersat ionw it h
J am es, " t hat N eroof f inancew hohasb u il t him sel f a
H einrichH eine
TheR ev ol u t ionof 1 8 4 8

1 9 9
gol d enp al aceint heR u eL af f it t e, " ashest rol l ed w it h
him arm - in- arm , t hrou ght hest reet sof P aris, " inaq u it e
f am il l ionary w ay " asK arl K rau s
s
w it t il y rem arked .
H einehel d t hat J am esw ast hem aninw hom " since
t hed eat hof hisd ist ingu ished b rot herinE ngl and , al l
t hep ol it ical signif icanceof t heH ou seof R ot hschil d "
w asconcent rat ed
. H einep art icu l arl y ad m ired J am esf or
hisab il it y ind iscov eringany p ersonsof t al ent , ev enin
t hecom p arat iv el y d ist ant cou nt ry of Sp ain, t hou ghhe
m ight not b eab l ef u l l y t oap p reciat et hem .
" F orhisgif t sint hisd irect ion, " H einew rot e, " hehas
b eencom p ared w it hL ou isX I V , and hecert ainl y isa
cont rast t ohiscol l eagu eshere, w hol iket osu rrou nd
t hem sel v esw it hageneral st af f of m ed iocrit y
. J am esv on
R ot hschil d m ay al w ay sb eseeninint im at eassociat ion
w it ht henot ab il it iesof ev ery w al kof l if e . H em ight b e
ent irel y u nv ersed inasu b j ect , b u t heal w ay sknew w ho
w ast heb est m aninit . H ep rob ab l y d oesnot u nd erst and
asingl enot eof m u sic, b u t R ossinihasal w ay sb eenan
int im at ef am il y f riend . A ry Schef f erishiscou rt p aint er,
C arem ew ashiscook . H errv onR ot hschil d cert ainl y
know sasl it t l eG reekasD em oisel l eR achel , b u t L et ronne
ist heschol arw hom hem ost v al u es . Theb ril l iant D u p u y -
t renw ashisp hy sician, and b et w eent het w ot herew ast he
m ost b rot herl y af f ect ion
.
" H errv onR ot hschil d w asoneof t hef irst t op erceiv e
t hew ort hof C rem ieu x , t hegreat and nob l e- heart ed
l aw y er, w hob ecam ehisl oy al ad v ocat e . Sim il arl y heat
onceap p reciat ed L ou isP hil ip p e' sp ol it ical cap acit y , and
hew asal w ay sont hem ost conf id ent ial t erm sw it ht hat
great m ast erof st at ecraf t
. H errv onR ot hschil d al oned is-
cov ered E m il eP ereire, t heP ont if ex M ax im u sof rail -
w ay s, and heim m ed iat el y m ad ehim hischief engineer,
ent ru st ingt ohim t heconst ru ct ionof t herail w ay t oV er-
sail l esont heright b ankof t heSeine, onw hicht herehas
nev erb eenanaccid ent . P oet ry al one, t hat of F ranceas
w el l asof G erm any , isrep resent ed b y nol iv inggeniu sin
2 0 0

TheR eignof t heH ou seof R ot hschil d


t hef av orof H errv onR ot hschil d
; hel ov esonl y Shakes-
p eare, R acine, G oet he, d ead p oet sal l , and d isem b od ied
sp irit s, rem ot ef rom al l eart hl y f inancial cares . " '
Thisw asagent l ehint t hat R ot hschil d m ight d om ore
f orl iv ingG erm anp oet s, incl u d ingH eine . H einegav e
recognit ionw hereit w asd u e, al t hou ghhew asf req u ent l y
ironical at J am es' sex p ense, and rep roached him f orhis
m eannessand av arice .
Theou t b reakof chol erainP arisin1 8 3 2 p rod u ced a
real p anic
. Therew asaru m orcu rrent int hecap it al t hat
t hed iseasew asp rod u ced b y cert ainm ix ersof p oisons,
w hop oisoned t hep eop l ew it haw hit ep ow d er . Tw o
hap l essp ersonsw hohad b ou ght aw hit ecou ghp ow d er
at achem ist ' s, and w ereq u iet l y w al kingou t of t heshop
w it hit , w eret orninp iecesb y acrow d w hichcol l ect ed in
aninst ant , w henanol d w om anshou t ed , " Therearet he
m u rd erersand p oisoners1 " Theirb l ood y rem ainsw ere
carried int riu m p ht hrou ght hest reet s, t hecrow d sshou t -
ing, " V oil es l e chol era m orb u s! " P eop l ed ied int ensof
t hou sand s, and P arisw asany t hingb u t gay
. Thosew ho
cou l d , and w hohad t hem oney , f l ed t hecit y . H einet el l s
u s t hat 1 2 0 , 0 0 0 p assp ort sw ereissu ed at t heM airie .
" Thep eop l ecom p l ained b it t erl y , " hest at es, " w hent hey
saw richf ol kf l eeingt hecit y and m akingf ort heheal t hier
d ist rict s, accom p anied b y d oct orsand b ot t l es . Thep oor
m annot iced t hat m oney w asap rot ect ionev enagainst
d eat h
. Them aj orit y of t he j u st e- m il ieu and of high
f inancehav eal sol ef t , and arel iv ingint heircou nt ry
hou ses . Therep resent at iv esof w eal t h p arex cel l ence, t he
H errenv onR ot hschil d , hav e, how ev er, rem ained q u iet l y
inP aris, t hereb y d em onst rat ingt hat it isnot onl y in
f inancet hat t hey arecou rageou sand m agnif icent . "
8
A ccord ingt oH eine' sm ood and f inances, su chp raise
w ou l d al t ernat ew it hironical rem arksref erringt oR ot hs-
chil d ' sm eanness
. H einecanscarcel y hav eb eent hinking
of him sel f w henhew rot ein" G ed ankenand E inf al l e, "
" Them ainarm y of R ot hschil d ' senem iesism ad eu p of
TheR ev ol u t ionof 1 8 4 8

2 0 1
t hehav e- not s ; t hey al l say t ot hem sel v es, ` W hat w ehav e
not , R ot hschil d has . ' A ssoonasam an' sm oney isgone,
heb ecom esR ot hschil d ' senem y . "
a
Thisw ascert ainl y t ru e
of H einehim sel f
. H ew as, how ev er, im p ressed b y t he
sp l end orand w eal t hof t heenv ied b ankers .
" F ort he b eau m ond e of P aris, " hew rot eonM archi,
1 8 3 6, " y est erd ay w asarem arkab l ed ay : w ehad t hef irst
p erf orm anceof M ey erb eer' sl ongaw ait ed ` H u gu enot s' at
t heO p era, f ol l ow ed b y R ot hschil d ' sf irst b al l inhisnew
hou se . A sI d id not l eav eu nt il f ou ro' cl ockt hism orning,
and hav enot b eenasl eep y et , I am t oot ired t ogiv ey ou
anaccou nt of t hesceneof t hisf est iv al , and of t hem ag-
nif icent new p al aceb u il t ent irel y int hest y l eof t heR en-
aissance, inw hicht hegu est sw and er, ex p ressingt heir
ad m irat ionand ast onishm ent . A sat al l R ot hschil d ' sre-
cep t ions, t hegu est sw erechosenst rict l y f ort heirsocial
rank, t hem enb eingd ist ingu ished f ort heirgreat arist o-
crat icnam esorp osit ions, w hil et hew om enw ered ist in-
gu ished f ort heirb eau t y and el egance .
" A sf ort hep al aceit sel f and it sd ecorat ions, it u nit es
ev ery t hingw hicht hesp irit of t hesix t eent hcent u ry cou l d
conceiv eand t hem oney of t heninet eent hcent u ry cou l d
p ay f or
. I nit t hegeniu sof art com p et ed w it ht hegeniu s
of R ot hschil d
. Tw oy earshad b eensp ent inconst ant
w orkont hisp al aceand it sd ecorat ions, and t hesu m s
t hat hav eb eenex p end ed aresaid t ob eenorm ou s . H err
v onR ot hschil d sm il esw henheisasked . I t ist heV er-
sail l esof af inancial ab sol u t em onarch . O neisf orced t o
ad m iret het ast enol esst hant hel av ishnessof t heex ecu -
t ion . M . D u p onchel hasb eenresp onsib l ef ort hed ecora-
t ionsand ev ery t hingb earsw it nesst ohisgood t ast e . The
w hol e, and eachind iv id u al p art , al sob earsw it nesst o
t hef ineart ist icsenseof t hel ad y of t hehou se, w hois
not m erel y oneof t hep ret t iest w om eninP aris, b u t is
al sod ist ingu ished f orint el l igenceand know l ed ge, and
p ract icesp aint ingw it hm u chsu ccess . "
Thisl ast rem arkw asnot am erep hrase, b u t ex p ressed
2 0 2

TheR eignof t heH ou seof R ot hschil d


H eine' ssinceref eel ing, f oral t hou ghhehad l it t l eu se
f orJ am esR ot hschil d asahu m anb eing, hew asv ery
m u chu nd ert heinf l u enceof hischarm ingand accom -
p l ished w if e, t hed au ght erof Sol om onat V ienna . She
show ed int el l igent ap p reciat ionof H eine' sp oet ry , w hich
d id not m aket hesam eap p eal t oherhu sb and . Shecon-
st ant l y ex p ressed herad m irat ionf orH eine' sw ork, and
b y f l at t eringt hep oet ' sv anit y , increased hisd ev ot iont o
t heB aronessB et t y , w how asnot ent irel y d isp l eased w hen
H einev ent u red t osu ggest t hat su chararesou l shou l d
not b em arried t oad u l l cal cu l at ingm achine . Thep oet
const ant l y , ind eed regu l arl y , sent herhisw orks, not ex -
cep t ingt hosew hichm ad ef u nof herhu sb and . H ecou nt -
ed onob l it erat ingany u nf av orab l eim p ressionb y acasu al
ex p ressionof ap ol ogy . H einew el l knew w hat hew as
ab ou t w henheem p hasiz ed t hecont rast int hecharact ers
of t hehu sb and and w if e .
B aronessB et t y const ant l y inv it ed him , and onsu choc-
casionshew asab l et op u t f orw ard req u est sand t oask
f orf av orsf orf riend s, su chasL u d w igM arcu s, w how as
l iv ingat t hat t im eind irep ov ert y . B aronessB et t y w ou l d
p l ead H eine' scau sew it hherhu sb and , and w ou l d al so
hel p p ersonal l y , and H einew ou l d ex p resshisgrat it u d e
inoneof hisnex t w rit ings, inw hichhew ou l d sp eakof
" t heangel ichel p of ab eau t if u l w om an, t hew if eof one
of t herichest b ankersint hew orl d , w hoisj u st l y f am ou s
f orherw it and herknow l ed ge . " 1 0
L at er, w henhel ay
il l inhisat t ic, heact u al l y w rot et oF rau B et t y : " A sI
l iecu t of f f rom t hew orl d , t hep ict u reof y ou of t encom -
f ort sand cheersm e . I t isoneof t hem ost t reasu red w orks
int hegal l ery of m y m em ory . "
Sincehisf irst m eet ingw it ht heb aronessat B ou l ogne-
su r- M erinSep t em b er, 1 8 3 3 , H einehad al w ay sf el t in
com p l et esy m p at hy w it hher . H isgrat it u d ef orm any a
kind nessand hisad m irat ionf orB et t y asaw om anand
al ad y f ou nd p oet ical ex p ressionint hep oem t ow hich
hegav et henam e" TheA ngel . "
1 1
TheR ev ol u t ionof 1 8 4 8

2 0 3
I t w asint hey ears1 8 3 5 and 1 8 3 6t hat H einesp ent
m ost t im eat R ot hschil d ' shou se
. G ~ il l p arz erm et him
t herew hen, d u ringashort v isit t oP aris, hew asd ining
at J am esR ot hschil d ' s, R ossinib eingal sop resent " M u ch
asI had l iked H eine, w henI w asal onew it hhim , " G ril l -
p arz erw rot e, 1 2
" I d id not l ikehim at al l af ew d ay sl at er
w henw ew ered iningat t heR ot hschil d s
. I t w asap p arent
t hat hishost sw ereaf raid of H eine, and heex p l oit ed
t heirf earb y sl y l y p okingf u nat t hem at ev ery op p ort u -
nit y
. B u t it isnot ad m issib l et od inew it hp eop l ew hom
y ou d on' t caref or
. I f y ou d esp iseap ersony ou shou l d not
d inew it hhim
. I np oint of f act ou racq u aint anced id not
p rogressaf t ert his . "
A b ou t t his' t im eH einew asact u al l y consid eringt he
q u est ionof d eal ingw it ht hehist ory of t he' originand
d ev el op m ent of t heH ou seof R ot hschil d , b u t t herecu r-
rent t ensioninhisrel at ionw it ht heH ou sesince1 8 3 7
p rob ab l y cau sed him t ogiv eu p t heid ea
. I nsp it eof
su choccasional hel p ashereceiv ed , H eine' sf inancial
af f airsw ereinconst ant conf u sion, and J am esR ot hschil d
ref u sed t oint erv eneinH eine' sp ecu niary w rangl esw it h
hisrichu ncl eSol om onH eine
. J am esf oral ongt im ehad
had int im at ef inancial d eal ingsw it ht hat b anker, and m ay
w el l hav esu f f ered areb u f f ont ry ingt osay agood w ord
f orH eine
. H ed id not f eel incl ined t oint rod u ceanu n-
p l easant el em ent int ohisrel at ionsw it hab u sinessf riend
b y u nd u l y p ressingt hep oint
. V ariou sp rof it ab l ed eal ings,
incl u d ingap art icip at ioninp rof it sont heissu eof cap i-
t al f ort heN ort hernR ail w ay of F rance, seem t ohav e
assist ed inp rod u cingam oregenial at m osp hereb et w een
H eineand J am es
; and at t hist im eH eineq u it eu nex -
p ect ed l y f ou nd anop p ort u nit y of m akinghim sel f u sef u l
t ot heH ou seof R ot hschil d .
I n
1 8 4 3 , H eine' sp u b l isher, C am p e, had receiv ed f rom
acert ainF ried richSt einm annof M u nst eram anu scrip t
ent it l ed " TheH ou seof R ot hschil d
:
I t sH ist ory and I t s
Transact ions
. " Theb ookd eal t w it ht heH ou seina
2 0 4

TheR eign of
t heH ou seof R ot hschil d
sp it ef u l and host il ew ay
. C am p ep aid t heau t hort hef ee
w hichheasked , and hap p ened t om ent iont hem at t ert o
H eine
. H eineasked t oseet hem anu scrip t , and C am p e
p ost p oned p rint ingit , giv ingit t oH einet ot aket oP aris
sot hat hem ight d iscu sst hem at t erw it hR ot hschil d . "
I nal et t erd at ed D ecem b er 2 9 ,
1 8 4 3 , H einew rot et o
C am p esay ing, " I conf essI shou l d b egl ad of anop p or-
t u nit y of req u it ingt hegreat kind nesst hat R ot hschil d
hasshow nm ef ort w el v ey ears [ i . e . , ev ersincehehad
com et oP aris] , if I hav eanop p ort u nit y f ord oingso
inanhonest m anner . "
Thep am p hl et rem ained f ort het im eb eingat H eine' s
hou se, and w asnot p u b l ished u nt il 1 8 5 8 , t hat is, f if t een
y earsl at er, b y V . K ob erat P ragu e .
B y t hisact ionH einehad cert ainl y earned t hegrat it u d e
of t heH ou seof R ot hschil d , and it m ay f airl y b eassu m ed
t hat it w asnot b ad b u sinessf orC am p e .
I nA p ril , 1 8 4 0 , anincid ent occu rred at D am ascu sw hich
cau sed t hem ost int enseex cit em ent int heC hrist ianand
t heJ ew ishw orl d
. A J esu it p riest and hisserv ant had
b eenm u rd ered int hat cit y , and t heJ ew sw ereaccu sed
of hav ingp erp et rat ed arit u al m u rd eru p ont hesev ict im s
.
Thesu sp ect ed p ersonsw erearrest ed , and ast ort u rew as
at t hat t im eap p l ied inex am iningsu chp ersons, t hew hol e
of J ew ry t hrou ghou t t hew orl d d ecl ared t hat t head m is-
sionshad b eenw ru ngb y f orce, and t hat t heaccu sed
w eregu il t l ess . TheC hrist iansw ereev enm orep assionat e
int heirassert iont hat t heJ ew sw eregu il t y
. Theincid ent
t heref oreacq u ired asignif icancet hat f art ranscend ed any
sim il arl ocal m u rd ers
. I nnu m erab l eJ ew ssent t heirp e-
t it ionst om em b ersof t heH ou seof R ot hschil d , w hosein-
f l u encew it ht hev ariou sgov ernm ent sof t hegreat P ow ers
w asw el l know n, askingt hem t oint erv eneonb ehal f of
t heirco- rel igionist s
. I nt hecaseof J am esand Sol om on
t hesep ray ersf el l u p onf ru it f u l grou nd . J am est ooku p
t hem at t erw it ht heF renchgov ernm ent , and Sol om on
t ried t oind u ceM et t ernicht ot akeact ion
.
TheR ev ol u t ion of 1 8 4 8

2 0 5
Sol om onw asinsof arsu ccessf u l w it ht heA u st rian
of f icial st hat t heA u st rianC onsu l v onL au rind id act u -
al l y t akest ep sonb ehal f of t hearrest ed p ersons . This
m anal sop ersu ad ed M ehem et A l it oord ert hat t ort u re
shou l d b ed iscard ed int hef u rt hercou rseof t hecase
against t heJ ew sat D am ascu s, and v onL au rinw rot ed i-
rect t oSol om ont oinf orm him of t his,
1 4
asw el l askeep -
ingJ am esinP arisinf orm ed of t hecou rseof t hew hol e
af f air .
TheF renchconsu l at D am ascu s, ont heot herhand ,
had t akenu p anat t it u d ehost il et ot heJ ew s . TheV ienna
R ot hschil d asked hisb rot herJ am est ou sehisinf l u ence
inP aris, b u t j u st at t hist im et heA u st ro- F renchd if f er-
enceint heE ast ernq u est ionw asm ost acu t e, and L ou is
P hil ip p e' sgov ernm ent f eared t hat t hep eop l ew ou l d re-
gard any act ionint hesensed esired b y J am esasahu m il i-
at ionof F ranceb ef oreA u st ria, and asu nw arrant ed su p -
p ort of J ew ishasop p osed t oC hrist ianint erest s
. F ort hese
reasonsany act ioninf av orof t heaccu sed J ew sw asd e-
l ay ed .
" M y ef f ort s, " J am esw rot et oSol om on, 1 5 " hav eu nf or-
t u nat el y not y et p rod u ced t hed esired resu l t . TheG ov -
ernm ent areact ingv ery sl ow l y int hism at t er ; insp it e
of t hep raisew ort hy act ionof t heA u st rianC onsu l t hey
d onot w ishim m ed iat el y t orecal l ou rC onsu l , b ecau se
t hem at t erist oorem ot e, sot hat p u b l icint erest hasnot
b eensu f f icient l y rou sed ab ou t it . A l l t hat I hav esof ar
su cceed ed ind oingis, asisb rief l y st at ed int heM onit eu r
t od ay , t oarranget hat t heV ice- C onsu l at A l ex and ria
shou l d b einst ru ct ed t oinv est igat et hecond u ct of t heC on-
su l at D am ascu s ; t hisis, how ev er, onl y at em p oriz ing
m easu re, sincet heV ice- C onsu l isu nd ert heC onsu l , so
t hat hehasnoau t horit y t ocal l t hel at t ert oaccou nt f or
hisact ions
.
" I nsu chcircu m st ancest heonl y m eansw ehav el ef t is
t heal l - p ow erf u l m et hod hereof cal l ingint henew sp ap ers
t oou rassist ance, and w ehav eaccord ingl y t od ay had a
2 0 6

The R eign of t heH ou se of R ot hschil d


d et ail ed accou nt , b ased ont herep ort of t heA u st rianC on-
su l , sent int ot heD eb at sand ot herp ap ers, and hav eal so
arranged t hat t hisaccou nt shal l ap p earinsim il ard et ail
int heA l l gem eineZ eit u ngof A u gsb u rg . W eshou l d cer-
t ainl y hav ep u b l ished H errv onL au rin' sl et t erst om e
ont hism at t er, had w enot f el t t hat t hisshou l d onl y b e
d oneaf t erp rev iou sl y ob t ainingt hep erm issionof his
H ighnessP rincev onM et t ernich .
" F ort hisreason, m y d earb rot her, conv inced asI am
t hat y ou w il l gl ad l y d oy ou ru t m ost ind ef enseof t hej u st
cau se, I w ou l d b egy ou t oreq u est t heP rinceinhiskind -
nesst oau t horiz et hep u b l icat ionof t hesel et t ers
. The
graciou ssent im ent sof hu m anf eel ingw hicht heP rince
hasex p ressed w it hregard t ot hissad ep isod ecau seu s
conf id ent l y t oent ert aint hehop et hat t hisreq u est w il l
not b eref u sed
. W heny ou hav ereceiv ed t hed esired p er-
m issionI w ou l d b egy ou , m y d earSol om on, not im m e-
d iat el y t op u b l isht hel et t ersint heO st erreichischerB eo-
b acht eral one, b u t al sot ob esogood ast osend t hem im -
m ed iat el y , w it hashort cov eringl et t er, t ot heA u gsb u rger
Z eit u ng, sot hat t hey m ay reacht hep u b l ict hrou ght hat
m ed iu m al so . "
TheR ot hschil d s' int erv ent iononb ehal f of t heiraf -
f l ict ed f el l ow sinad ist ant cou nt ry soonb ecam egeneral l y
know ninJ ew ishcircl esand l ed t oH eine' scom m ent ing
ont hef act in" L u t et ia
. " " W em u st giv et heC hief R ab b i
of t heR iv eD roit e, " H einew rot e, w it hap l ay f u l ref er-
encet ot herail w ay ont heright b ankof t heSeine, " t he
cred it of hav ingshow nanob l ersp irit inhissy m p at hies
f ort heH ou seof I srael t hanhisl earned riv al , t heC hief
R ab b iof t heR iv eG au che, M . B enoit F ou l d , w ho, w hil e
hisco- rel igionist sw ereb eingt ort u red inSy riaat t he
inst igat ionof aF renchC onsu l , d el iv ered som eex cel l ent
sp eechesint heC ham b erof D ep u t iesont hesu b j ect of
t heconv ersionof rent esand t heb ankrat e, w it ht heim -
p ert u rb ab l ecal m of aH il l el . " 1
F orA u st ria, how ev er, insp it eof M et t ernich' sint er-
TheR ev ol u t ionof 1 8 4 8

2 0 7
v ent iononb ehal f of t heJ ew s, H einehad not agood
w ord t osay , f orheregard ed t hat st at easahot b ed of
react ion, w heret hew rit t enw ord w assu b j ect t orest ric-
t ionst oanex t ent u nknow nel sew here . Thef inancial p rob -
l em sof t heim p erial st at ehad at t hat t im eagaingrow n
acu t e, ast hew arru m orsof
1 8 4 0 had resu l t ed inf u rt her
consid erab l em il it ary ex p end it u re
. Therew erem any hard
casesinp riv at eb u sinesst oo . Tow ard t hem id d l eof t he
y ear 1 8 4 1 ,
oneof t hef ou rb anksw it hw hicht hegov ern-
m ent had const ant f inancial d eal ingsw asact u al l y ind if -
f icu l t ies . Thisw ast heb ankof G ey m u l l er . M et t ernich
w ant ed at any p ricet op rev ent t hef irm f rom goingb ank-
ru p t , and carried onp rol onged negot iat ionst ot hisend
w it ht heH ou seof R ot hschil d and t heot herb ankers, b u t
t hey eit hercou l d not orw ou l d not su p p ort t hat b ank . O n
J u l y ioit w asf orced t osu sp end p ay m ent . Therew erenow
onl y t hreeb anks- R ot hschil d , Sina, and A rnst einand
E skel es- t hat d id b u sinessw it ht hest at e . A l t hou ght he
st at e' sneed of m oney w asgreat , it ssecu rit y st ood high,
and onJ u l y 1 4 , 1 8 4 1 , t het hreeb anksact u al l y u nd er-
w rot e 3 8 , 5 0 0 , 0 0 0 f l orinsof 5 % b ond sat 1 0 4 % , R ot hschil d
t akingf ou rt eenm il l ions .
I m m ed iat el y af t ert heconcl u sionof t hisagreem ent
( t heconnect ionb et w eent heev ent scanhard l y b e
d ou b t ed ) Sol om onR ot hschil d sent inanot herp et it ion
askingf orad isp ensat ionf rom oneof t henu m erou sregu -
l at ionsl im it ingt heright sof t heJ ew s .
Theironw orksat W it kow it z had original l y b el onged
t ot heA rchd u keR u d ol p h, and had l at erb eeninherit ed
b y t heA rchd u keR einer . A st hel at t erhad not at t ained
hism aj orit y , it w asint end ed t ol easet heironw orkst o
Sol om onR ot hschil d . Thep et it ionnecessary t oef f ect t his
had b eensent ininSep t em b er, 1 8 3 3 , b u t at t hel ast m o-
m ent W it kow it z w asp u rchased b y t heA rchb ishop of
O l m u t z , C ou nt C hot ek . W hent heconst ru ct ionof t he
N ord b ahnb egan, and R ot hschil d w ant ed t om akehim -
sel f ind ep end ent of f oreigniron, t hearchb ishop l eased
2 0 8

TheR eignof t heH ou seof R ot hschil d


t heironw orks ineq u al shares t oR ot hschil d and B aron
v onG ey m u l l er
. I nt hem eant im et heironw orkshad d e-
v el op ed enorm ou sl y , and , asSol om onsaid inhisp et i-
t iont ot hecou rt , it had b y 1 8 4 1 " grow nint ooneof t he
m ost sp l end id and p rod u ct iv eest ab l ishm ent sint hem on-
archy " and onet hat p rov id ed em p l oy m ent f orf if t eenhu n-
d red m en .
W henG ey m u l l ergot int od if f icu l t ies, and t hearch-
b ishop w asal soinneed of cap it al , R ot hschil d sou ght
t ot akead v ant ageof t hef av orab l eop p ort u nit y f orb ring-
ingt hew hol econcernint ohisow np ossession . Thed if f i-
cu l t y w ast hat J ew sinA u st riaw erenot p erm it t ed t o
b u il d f act oriesort oacq u iret hereal p rop ert y necessary
f ort hep u rp ose, 1 7
orev ent oengageinm ining . R ot hschil d
t heref orereq u est ed t hat anex cep t ionshou l d b em ad e 1 8
inhisf av orw it hregard t ot heseregu l at ions . I nv iew
of t hef act t hat t hey had j u st receiv ed al oan, t heau t hori-
t iesat V iennacou l d not b u t acced et ohisreq u est , and
Sol om onw asaccord ingl y p erm it t ed t op u rchaseW it ko-
w it z , l ock, st ock, and b arrel , and t op roceed w it hcoal -
m iningand ironw orks . "
Them om ent had b eenhap p il y chosen . TheR ot hs-
chil d sw ereex ceed ingl y cl ev erat m akinggov ernm ent s
f eel u nd eranob l igat iont ot hem , and had ageniu sf or
st rikingw hil et heironw ashot . They som et im esm ad eit
p ract ical l y m oral l y im p ossib l ef oragov ernm ent t ore-
f u set heirreq u est s, and not t ogiv et hem t hem onop ol y
of b ankingb u siness .
W it hinhisow nsp here, A m schel M ey erat F rankf ort
act ed onp recisel y sim il arl ines . TheB et hm annB ankhad
l ongb eenov ershad ow ed . A sSchw em ersay s, 2 0 A m schel
had hisf ingerinev ery p ie : hed eal t w it ht heb u siness
of t heF ed erat ionasw el l asw it ht hat of t heind iv id u al
G erm angov ernm ent s, and su p p l ied t hem oney f ort he
rail w ay st hat w ereb eingconst ru ct ed ev ery w hereat t hat
t im e. H econt inu ed incl oserel at ionsw it ht heC ou rt of
H esse, t ow hichhisH ou sehad ow ed it srise .
TheR ev ol u t ionof 1 8 4 8

2 0 9
W henin1 8 3 1 t hesonof t heol d E l ect orW il hel m 1 1
l ef t t hecap it al onaccou nt of hism ist ress, t heheirt ot he
t hrone, w how asl at ert ob et heE l ect orF ried richW il -
hel m I , had b eenap p oint ed j oint R egent at C assel . H e
w asm organat ical l y m arried t oG ert ru d F al kenst ein, t he
d iv orced w if eof aP ru ssianl ieu t enant , L ehm ann ; in
1 8 3 1 heraised hert ot herankof C ou nt essv onSchau m -
b u rg, and l at erhecreat ed herP rincessof H anau . I n
1 8 4 6t heel ect oral read y had f iv echil d renb y t hism ar-
riage . A m schel M ey ergav et heel ect orf inancial assist -
anceinst art ingt hem inl if e, and t hep rinceand his
cou nt essw ou l d of t en" t aket heirm id d ay m eal q u it e
enf am il l e w it ht heirb u sinessf riend . " "
N ot onl y t heel ect orb u t m ost of t heot herG erm an
p rincesw ou l d ap p l y t oR ot hschil d f orm oney
. R ot hschil d
w ou l d of t enm aket heconcl u sionof ot heragreem ent s
w it hb ankssu b j ect t ot hecond it iont hat t heb anksshou l d
t akeov erap ort ionof t hel iab il it iesof t hesenu m erou s
l oanst op et t y G erm anru l ers . J u st ashet horou ghl y u nd er-
st ood how t okeep u p t hep riceof su chsecu rit iesashe
f el t incl ined t of av or, heal soknew how t od ep ressal oan .
I narep ort of B aronv onM ensshengenw eread
:
2 2
" B aronR ot hschil d hasgiv enap roof of hisp ow erin
t hecaseof t heR u sso- P ol ishL ot t ery l oanof t hey ear 1
8 3 5 .
H ep ersist ent l y d ep reciat ed t hisv ery saf eand p rof it ab l e
secu rit y b ecau set hep rincip al u nd erw rit er, t heb anker
F rankl of W arsaw ref u sed t oal l ow him t op art icip at e
init , and b ecau set heR u ssianG ov ernm ent , b eingannoy ed
w it ht heL ond onR ot hschil d ab ou t t hel oanw hichhehad
grant ed , su d d enl y b rokeof f rel at ionsw it hhisH ou se, and
hassinced eal t w it hH op eat A m st erd am .
" I nt hesecircu m st ancesit isnot su rp risingt hat m any
of t hesm al l erG erm anG ov ernm ent s, and m orep art icu -
l arl y t hat of N assau , shou l d hav erecou rseex cl u siv el y t o
t heH ou seof R ot hschil d , and shou l d ref u set ob ein-
f l u enced b y t hed issat isf act ionf req u ent l y ex p ressed b y
t heirsu b j ect s, esp ecial l y in t heG rand
D u chy of
J esse, "
2 1 0

The R eignof t heH ou se of R ot hschil d


M et t ernichhad f oral ongt im ef u l l y ap p reciat ed t he
p ow erof t heH ou seof R ot hschil d , b u t hew ou l d not
t ol erat eanob v iou sd iv ergenceb et w eenhim sel f and t he
R ot hschil d sinm at t ersaf f ect ingf oreignp ol icy . W hen,
d u ringt hed iscu ssionsont hel oanof 1 8 4 1 , Sol om on
w ant ed t op u t inacl au sep rov id ingf ort hep ossib l eou t -
b reakof w ar, M et t ernichrep l ied t hat asm inist erf orf or-
eignaf f airshew ou l d f eel com p el l ed t op rot est against
any su chcl au seb eingad m it t ed , 2 S " sinceI cou l d nev er
concu rinal l ow ingad ecisionaf f ect ingt heq u est ionof
w arorp eacet ob einf l u enced b y t heat t it u d eof t he
b anks . " Sol om onrep l ied t hat hef u l l y ap p reciat ed M et -
t ernich' sp oint , and not hingf u rt herw asheard of t his
su ggest ion
. F u nd am ent al l y t heR ot hschil d sw eret heonl y
H ou seinw hicht hechancel l orhad real conf id ence, t he
f ol l ow ingcircu m st anceb eingarem arkab l einst anceof
t hisf act .
Sev eral b u sinessesinV iennaand Triest eb eingind if -
f icu l t iesinA u gu st , 1 8 4 1 , t hegov ernm ent d ecid ed t hat
t het hreeb igb anksshou l d b eal l ow ed t oap p l y f ou rm il -
l ionsf ort heirrel ief inV ienna, and onem il l ioninTriest e .
St rangel y enou ght het hreeb anksw ereal l ow ed t od ecid e
t ow hom su chassist anceshou l d b egrant ed . Thisp rov i-
sionsoonresu l t ed inconsid erab l ed iscont ent , and com -
p l aint sw erem ad et ot het reasu ry ast ot hem annerin
w hicht hem oney w asal l ot t ed
.
Tw o
b anks, t hat of Sina
and t hat of A rnst einand E skel es, w erem orep art icu l arl y
accu sed of hav ingf av ored t hosep ersonsw it hw hom t hey
had cl oseb u sinessrel at ionsint heal l ocat ionof t hegov -
ernm ent m oney s
. "
M et t ernichcaref u l l y w ent int ot hiscom p l aint , and d e-
cid ed t hat t heb est w ay of ' d eal ingw it hit w ou l d b e
f ort hest at esecret l y t ogiv eSol om onR ot hschil d t he
cont rol int hism at t er, ov ert hehead sof t heot hert w o
b anks .
" I nv iew of t hecond u ct of t het hreef irm s, " hew rot e, "
" inal l ocat ingt hecom m ercial su b sid ies, t heq u est ionnat -
TheR ev ol u t ionof 1 8 4 8

2 1 1
u ral l y su ggest sit sel f w het hert heG ov ernm ent ( w hichis
p rov id ingt hem eans) hast heright t ocont rol t heop era-
t ionsof t het hreef irm s, B y cont rol I m eant hat t het hree
f irm sshou l d b ereq u ired t orend eraregu l araccou nt of
t hem oney sex p end ed b y t hem . Sol om onisb ou nd t of eel
him sel f crip p l ed ind eal ingw it ht hism at t er, b ecau sehe
d read sarou singt hehost il it y of hisenv ironm ent , and has
t hem ost p rof ou nd cont em p t f ort heb ankingcom m u nit y
of V ienna ; m oreov er, asab u sinessm an, heregard shis
p osit ionast hat of af oreignerinV ienna, and sohew il l
onl y d eal w it ht heG ov ernm ent s . A s, how ev er, heisone
of t hep ersonsent ru st ed w it ht hed isp osal of t hem oney s
of t hereserv ef u nd , hem u st b eret ained here, and I ad v ise
B aronK iib eckt ot el l him f rankl y t hat herel iesonhim ,
b u t , t ot el l him soasaconf id ent ial f riend . Thisist he
l inew hichism ost ef f ect iv eininf l u encinghim . "
Thisw asagreat m arkof t heconf id encew hichM et t er-
nichrep osed inSol om on
. I t w asent irel y inaccord ance
w it ht heirp ersonal rel at ions . Sol om onsu rp assed him sel f
inat t ent ionst ot heM et t ernichf am il y . " O u rf riend Sol o-
m on' sd ev ot ional w ay st ou chesm e, " t hep rincessw rot e
j u st af t erhehad p aid herav isit
2 8
D u ringt hesu m m er,
w hent heM et t ernichsw ereat t heirest at enearF rank-
f ort , t hey receiv ed const ant at t ent ions, su chasA m erican
d eerf ort heirp ark, 2 7 and m em b ersof t heb anker' sf am il y
of t encam et ocal l ont hem . " A m ongot hers, " t heP rincess
M el anienot ed inherd iary 2 8 onSep t em b er5 , 1 8 4 1 ,
" w eret heR ot hschil d s, f iv einnu m b er . Therew ereSol o-
m onand J am es, t heirnep hew A nt hony , Sol om on' sson,
and f inal l y A m schel , w hom ad eagreat p oint of ou rcom -
ingt od inew it hhim at F rankf ort nex t Tu esd ay . J am es
b rou ght m eap ret t y m ot her- of - p earl and b ronz eb ox f rom
P aris, f il l ed w it hsw eet s, w hichw asal l t ot hegood . "
W hen, asin1 8 4 3 , t heM et t ernichsst ay ed at I schl ,
Sol om onw as, t here, and not u nnat u ral l y , f orM arie
L ou iseof P arm aand hersu it ew eret heret oo . A t C hrist -
m asR ot hschil d w ou l d send " l ov el y t hingst ot heM et t er-
2 1 2

The R eign of t heH ou seof R ot hschil d


nichchil d ren, su chast em p t ed t heirm ot hert op l ay w it h
t hem hersel f . "
2 9
F orhisp art , Sol om onR ot hschil d had nooccasiont o
com p l aint hat su chf riend l y t u rnsw erenot recip rocat ed ,
t hereb eingp l ent y of occasionf ord oingso, inv iew of
t hest rict regim et ow hicht heJ ew sw erest il l su b j ect in
A u st ria .
Theq u est ionof t heJ ew s' right t ohol d real p rop ert y
had not y et b eenset t l ed . I nord ert oget ov ert hisd if f i-
cu l t y , Sol om on, hav ingp rep ared t hew ay b y nu m erou s
b enef act ions, ap p l ied t ob egrant ed t heright sand p riv -
il egesof acit iz enof V ienna ; f orasaV iennesecit iz en
hew ou l d au t om at ical l y acq u iret heright t oow nreal
p rop ert y . I nord er, how ev er, t oachiev ehisp u rp ose, he
had t oap p l y t ot heem p erorf orad isp ensat ionw it hre-
gard t ot hisconcession . " Theem p erorgrant ed t hed is-
p ensat ion, and t het ow naccord ingl y ad m it t ed him asa
cit iz en . Sol om ont hereu p onp roceed ed t op u rchaset he
hou seof t heR om ischerK aiser, w hichw assit u at ed
w it hint heR ingof V ienna, int heR enngasse, t oget her
w it ht hehou seim m ed iat el y ad j oining, w hichhep u l l ed
d ow n, b u il d ingont hesit eanot herhou sesp ecial l y
ad ap t ed t ohisp u rp ose .
F ort hisf av orSol om onex p ressed hisgrat it u d ew hen-
ev erop p ort u nit y of f ered . A t errib l ef irehav ingb roken
ou t inH am b u rgin 1 8 4 2 , w hichd est roy ed al argep ro-
p ort ionof t het ow n, Sol om onnot onl y of f ered M et t ernich
al argep ersonal su b scrip t ion, b u t al soof f ered t ot ransm it
any su m st oH am b u rgf reeof charge .
" I shal l av ail m y sel f , " hew rot et oM et t ernich, al " of
t heserv icesof m y ol d b u sinessf riend , H errSol om on
H eine, w hoisw el l know nf orhisp hil ant hrop icf eel ings,
know ingt hat I m ay assu m et hat hew il l d isp ensew it h
any b ankcharges, and rem it t ot heciv il au t horit iesat
H am b u rgt heex act eq u iv al ent of t hesu m sp aid inhere . "
Su chact ionsast heseal w ay sm ad eagood im p ression,
and serv ed t oconsol id at eSol om on' sp osit ionat V ienna,
7 ' heR ev ol u t ionof 1 8 4 8

2 1 3
Thest at ew asinconst ant need of f u rt herl oans . I n
1 8 4 3
t het hreeb anksof f ered a 4 0 , 0 0 0 , 0 0 0 l oaninret u rnf or
d eb ent u rest ot heam ou nt of 4 3 , 0 0 0 , 0 0 0 f l orins, R ot hschil d
t akingu p one- t hird .
I nad d it iont ot hesest at el oans, nu m erou sp riv at el oans
w erecont ract ed w it ht hem ost d ist ingu ished m em b ersof
t heA u st rianand H u ngariannob il it y . P rinceE st erhaz y
f orinst ance, w hohad not ev enrep aid hisl oanof 1 8 2 9 ,
w as, in
1 8 4 4 , negot iat ingal oanof nol esst han 6, 4 0 0 , 0 0 0
f l orinsw it hR ot hschil d and Sina .
Theact iv it iesof t heH ou seof R ot hschil d w ere, how -
ev er, b y nom eansconf ined t of inancial t ransact ions . A ny
op p ort u nit y of d oingb u sinessinot herd irect ionsw as
eagerl y seiz ed . A u st riansm okersat t hat t im ew eresu f -
f eringacu t el y f rom t hef act t hat t hest at et ob accom o-
nop ol y had f orb id d ent heim p ort of genu ineH av ana
cigars, inord ert op rot ect t hehom eind u st ry . TheH ou se
of R ot hschil d , w hichf u l l y real iz ed how m any cigars
w eresm u ggl ed int ot hecou nt ry , m ad eacont ract w it ha
f irm inH av anat od el iv er io, 0 0 0 , 0 0 o cigarsat 3 3 gu l d en
p ert hou sand , d el iv ered f reeinV ienna, R ot hschil d u nd er-
t akingt oob t aint henecessary p erm issiont oim p ort t hem
f rom - K iib eck, t hem inist erconcerned .
K u b eckim m ed iat el y agreed since, t hecigarsb eing
ret ail ed t ot hep u b l icat
7 0
gu l d enp ert hou sand , t hest at e
m ad eap rof it of 1 1 2 7 6, asC ou nt H art igp oint ed ou t . "
K iib eckd id not ev enw ait f ort heem p eror' sassent , al -
t hou ght hep ap erscam et ohim ind u ecou rsef orsigna-
t u re, t heem p erorb eingregard ed sim p l y asasigning
m achine . " ' Thecigarssol d l ikehot cakes ; arep eat ord er
f or 1 7 , 5 0 0 , 0 0 0 w assent of f al m ost at once, and al l con-
cerned m ad eav ery good b u sinessou t of it , t hesm okers
t hem sel v esgl ad l y p ay ingt heheav y p ricef orap l easu re
t hat t hey had b eensol ongd enied . " Thesm okers, ind eed ,
w ereex ceed ingl y grat ef u l t oSol om onR ot hschil d , and
t hisim p ort of H av anacigars, b esid esb einggood b u siness,
increased Sol om on' sp op u l arit y .
2 1 4

TheR eignof t heH ou seof R ot hschil d


H av ing
su cceed ed inest ab l ishinghim sel f inV ienna,
Sol om onal sof el t t hed esiret oacq u irel and ed p rop ert y ,
t oinv est hissp arecashinreal est at e, and t ocreat ean
ent ail ed est at ef orhisf am il y , int hem annerof t hegreat
nob l esof t hecou nt ry . F ort hisp u rp osehehad t op et it ion
t heem p eror, sincef oreignJ ew sw ereal sonot p erm it t ed
t oacq u irel and ed p rop ert y . Sol om onset ou t inhisp et i-
t ion 8 5 t hat hehad l ongagocom et oregard A u st riaas
hissecond f at herl and . H erecit ed al l t heserv iceshehad
rend ered t ot heSt at eof A u st ria :
" I t hasal w ay sb eenm y const ant end eav ort oim p rov e
and consol id at eA u st ria' scred it , w hichisnow sosp l en-
d id l y est ab l ished ; and int hesehonorab l eef f ort sI hav e
al w ay senj oy ed t heact iv esu p p ort of al l ou rH ou seson
t heC ont inent . I hav eal w ay sw el com ed ev ery op p or-
t u nit y , and d oneany t hinginm y p ow ert op rom ot et he
int erest sof ind u st ry and u nd ert akingsof p u b l icu t il it y
in A u st ria .
" Thegreat rail w ay t hrou ghM orav ia, w hichw il l soon
connect A u st riaw it ht heeast ernand nort hernseas, cou l d
hav eb eenachiev ed onl y t hrou ght heex p end it u reof
l argesu m sof m oney , and b y d int of p at ient w ait ing ;
sacrif icest hat I w ascal l ed u p ont om ake, t ot heam ou nt
of sev eral hu nd red t hou sand , at at im eof acu t ef inancial
crisis, w henconf id encew asat av ery l ow eb b . "
Sol om onm ent ioned hisex p end it u reof hal f am il l ion
f l orinsont hep u rchaseand inst al l at ionsat W it kow it z , as
w el l ashisannu al ex p end it u reof f ou rt of iv ehu nd red
t hou sand f l orinsinw ages, and f inal l y , t hesev enhu nd red
t hou sand f l orinsex p end ed ont hecoal m inesinD al m at ia,
ast hou ghal l t hism oney had b eenex p end ed sim p l y in
ord ert op rov id eam eansof l iv el ihood t o" m any t hou -
sand sof p ersonsw how ou l d ot herw iseb eent irel y p oor
and d est it u t e, " p oint ingou t t hat u p t ot hep resent he
had d eriv ed nop rof it f orhim sel f .
" Y ou rm ost hu m b l ep et it ioner, " Sol om oncont inu ed ,
" hasal w ay sb eenanact iv eand z eal ou ssu p p ort erof al l
TheR ev ol u t ionof 1 8 4 8

2 1 5
ot herkind sof p u b l icinst it u t ionsasw el l , and int hiscon-
nect ionhef eel st hat hecanconf id ent l y rel y u p ont hew it -
nessof t hehigherau t horit ies, asw el l asu p ont herecog-
nit ionof p u b l icop inion, sincehed oesnot w isht oap p ear
t ob l ow hisow nt ru m p et , ort ow eary y ou rM aj est y w it h
anarrat ionof ind iv id u al ex am p l es .
" Them ost hu m b l eu nd ersigned b el iev est hat t heseact s,
and hisgeneral cond u ct d u ringhisst ay of nearl y aq u ar-
t erof acent u ry iny ou rcap it al cit y , hav ef u rnished ad e-
q u at ep roof of hisu nshakab l ed ev ot iont ot heA u st rian
m onarchy , and it ist heref orenat u ral t hat heshou l d m ost
ard ent l y d esiret oow np rop ert y inacou nt ry w hoseru l ers
hav eshow nhim som any signal m arksof t heirf av or, a
cou nt ry w hichhassom any d earrel at ionsf orhim , and
t ow hichy ou rhu m b l eand l oy al p et it ioner' sp ost erit y ,
l iv ingent irel y inaccord ancew it hhisex am p l e, d esires
t ob eb ou nd w it hsim il arb ond sof l ov eand l oy al t y . This
d esirew ou l d b esat isf ied b y t hep ossessionof ad em esne
inM orav ia ; f ort hat ist hep rov incew hichshou l d , int he
f u t u re, m ost esp ecial l y y iel d t hef ru it sof t hew el l - int en-
t ioned ef f ort sw hichy ou rl oy al and hu m b l ep et it ioner
hasm ad e, and w il l not f ail t ocont inu et om ake, inord er
t osecu reit sad v ant ageand p rosp erit y . That isal sot he
p rov inceinw hichasu b st ant ial p art of hisw eal t hhas
al read y b eeninv est ed , int hecoal - m inesof W it kow it z . "
Sol om onw ou nd u p t hism em orial b y say ingt hat he
conf ined him sel f t ot hem ost hu m b l ereq u est
: " t hat y ou r
I . and R . M aj est y m ay b egraciou sl y p l eased t oconf er
u p ony ou rm ost hu m b l eand l oy al p et it ionert heright f or
him and hisd escend ant st oow noneorot herof t he
d em esnesint hep rov inceof M orav ia, if y ou rhu m b l e
p et it ionershou l d f ind anop p ort u nit y f oracq u iringsu ch
d em esne. "
Thep et it ion w asf irst t ransm it t ed t oC ou nt U gart e, t he
p rov incial G ov ernorof M orav iaand Sil esia, f orhisob -
serv at ion
. H eem p hasiz ed t hef act " t hat t heconcession
w it hregard t oW it kow it z innow ay im p l ied t hat t he
2 1 6

TheR eignof t heH ou seof R ot hschil d


su b j ect - m at t erof t hep et it ionshou l d b egrant ed , " since
it isessent ial l y d ist inct f rom t heact u al ow nership of
l and ed p rop ert y , carry ingright sof j u risd ict ionw hich,
int hesep rov incesat any rat e, hav enev erb eengrant ed
t oap ersonof t heJ ew ishp ersu asion ; m oreov er, it isnec-
essary t ocal l at t ent iont ot hef act t hat if int hecaseof
B aronv onR ot hschil d t heright t oow nreal est at ew ere
t op asst ohisheirs, hew ou l d b ep l aced inam oref av or-
ab l ep osit ionev ent hanC hrist ianl and ed p rop riet orsw ho
arenot d om icil ed int hesep rov inces . "
C ou nt U gart ew ent ont ost at et hat inv iew of t hese
consid erat ions, it w ascl eart hat t oacced et oB aronv on
R ot hschil d ' sp et it ionw ou l d b et oconf eraq u it eex cep -
t ional f av oru p onanind iv id u al , su chashad nev erb een
grant ed inhisp art of t hecou nt ry , b eingcont rary t ot he
const it u t ionand t ot hel aw . Su charem arkab l eact of
graceont hep art of t heem p erorcou l d b ej u st if ied onl y
b y t hem ost im p ort ant serv icesand t hem ost highl y ex cep -
t ional p ersonal q u al it ies .
A st ot heserv icesrend ered b y B aronv onR ot hschil d
t ot hest at eingeneral , C ou nt U gart eob serv ed t hat it w as
not w it hinhisp rov incet ocom m ent u p ont hem , and t hat
su chcom m ent m u st b ereserv ed f orhigherau t horit y . The
f act of t heirim p ort ancecou l d not b ed ou b t ed , sincet he
em p erorhad seenf it t oraiseR ot hschil d t ot hed ignit y of
anA u st rianb aron, t oconf eru p onhim t hef reed om of
t hecap it al , and t ogrant him t henecessary d isp ensat ion
f orengaginginm iningop erat ions . A st ot heq u est ionhow
f art hep rov inceof M orav iaw assp ecial l y associat ed w it h
t heserv icesinret u rnf orw hichB aronv onR ot hschil d
had receiv ed t hesesignal honors, C ou nt U gart ef el t t hat
hew asm erel y d oinghisd u t y inst at inghiscom p l et e
conv ict iont hat t hrou ghex ercisinghisd et erm iningin-
f l u enceinf av orof t heconst ru ct ionof t heK aiser- F erd i-
nand - N ord b ahn, t hep et it ionerhad p art icu l arl y earned
t hegrat it u d eof t hep rov inceof M orav ia
.
U gart ef u rt hersu ggest ed t hat t hel arge- m ind ed ent er-
TheR ev ol u t ion
of 1 8 4 8

2 1 7
p risew hichR ot hschil d had show ninest ab l ishingt he
ironw orksat W it kow it z seem ed t oind icat et hat hein-
t end ed t om aket hem am od el and ab l essingf ort hew hol e
cou nt ry - asecond Seraingind eed - and t hat t hesew orks
w ou l d const it u t eanenorm ou sl y im p ort ant el em ent int he
f u rt herind u st rial d ev el op m ent of t hep rov ince
.
F u rt her, R ot hschil d w asp art icu l arl y t ob ecom m end ed
f ort hef act t hat , im m ed iat el y af t ert akingov ert heseim -
p ort ant w orks, hehad inst it u t ed school sf ort hechil d ren
of t hew orkp eop l e, t hereb y show ingaconcernf ort he
m oral and int el l ect u al w el f areof t hew orkerst hat , w as
rareint hew orl d of ind u st ry , and const it u t ed anot ab l e
ex am p l ef orot herst of ol l ow .
A f t erob serv ingt hat t heconcessionsf orm iningand
est ab l ishingironw orksw hichhad b eengrant ed t oR ot hs-
chil d , w ereof t hegreat est im p ort ancet ot hep rov ince,
C ou nt U gart econcl u d ed hisrep ort w it ht hef ol l ow ing
general rem arks
: " A st oB aronR ot hschil d ' sp ersonal
q u al it ies, hisp osit ioninSociet y issoex cep t ional t hat he
hasb eenent irel y rem ov ed f rom t heord inary circu m -
st ancesof hisco- rel igionist s
; hisrem arkab l eq u al it iesand
rareint el l igencem akeit ent irel y inap p rop riat et oap p l y
st rict l y inhiscaset heregu l at ions in
f orcew it hregard t o
ot herI srael it es . "
W hil el eav ingit t ot hej u d gm ent of higherau t horit y
t od ecid ew het hert hev ery ex cep t ional circu m st ances
w hichhehad enu m erat ed j u st if ied ord id not j u st if y t he
grant ingof t hep et it ion, C ou nt U gart eex p ressed t he
v iew t hat if insp it eof al l ob j ect ionsanex cep t iont ot he
general ru l ew asat al l p erm issib l e, t hecaseof B aronv on
R ot hschil d w ou l d cert ainl y and p erhap sex cl u siv el y j u s-
t if y su chanex cep t ionb eingm ad e
.
Thehead of t het reasu ry , C ou nt v onI nz aghy , m inu t ed
ont hisop iniont hat , " inv iew of t hev ery ex cep t ional
p osit ionhel d b y t heH ou seof R ot hschil d inE u rop ean
com m erce, " hef el t b ou nd t orecom m end t hegrant ingof
t hep et it ion
. Thef act t hat noJ ew ow ned l and ed p rop -
2 1 8

TheR eignof t heH ou seof R ot hschil d


ert y inM orav iad id not m at t er, sinceinL ow er . A u st ria,
w hereJ ew sareact u al l y f orb id d ent ost ay int hecou nt ry
at al l , aJ ew had p u rchased ad em esne, and t heem p eror
had act u al l y al l ow ed t heest at et op asst ohisson
. I t w as
cert ainl y af act t hat it w asu su al t ogrant su charight
t oow nl and t ot hep et it ioneronl y , w it hou t al l ow ingt he
right t ob ecom eherit ab l e
; " b u t , " t hecou nt cont inu ed ,
" it seem st om et hat int hisp art icu l arcasew eshou l d
hav eregard t ot hesp ecial circu m st ancesof t hep et it ioner,
B aronv onR ot hschil d ; at hisad v anced ageof sev ent y
y earsit w ou l d b eal m ost insu l t ingf ort heE m p erort o
grant t heright t oow nl and t ohim al one, and su chap riv -
il egew ou l d b ep ract ical l y u sel essif it w erenot m ad e
t ocov er, at any rat ehist w ochil d ren, t heI . and R .
C onsu l - G eneral at F rankf ort , A nsel m , B aronR ot hschil d ,
and hisd au ght er, w hoism arried t ohisy ou ngerb rot her
J am es, B aronv onR ot hschil d , t heI . and R
. C onsu l -
G eneral inP aris .
" Theserv icesrend ered b y B aronv onR ot hschil d are
sow el l know n, heissof am ou sf orhisp hil ant hrop y and
p u b l icsp irit t hat it w ou l d b ered u nd ant f or
m e t oenu -
m erat ehism any ind iv id u al good d eed s
.
" H av ingregard t ot hef u rt herconsid erat iont hat it is
highl y d esirab l et hat B aronv onR ot hschil d shou l d b e
m orecl osel y b ou nd t ot heI m p erial St at eof A u st riab y
t heinv est m ent of hism oney inreal p rop ert y int hiscou n-
t ry ; and inv iew of t hef act t hat it w ou l d creat eav ery
st rangeim p ressionab road if hisp art icu l arw isht oset t l e
p erm anent l y int hat cou nt ry w herehehasb eensoact iv el y
engaged f oral ongp eriod of y ears, and hasb eenasso-
ciat ed w it ht heG ov ernm ent inm oreex t ensiv eand im -
p ort ant t ransact ionst hanhasev erb eent hecaseb ef ore
w it hap riv at eind iv id u al , w eret ob eref u sed af t ert he
sp ecial d ist inct ionst hat hav eb eenconf erred u p onhim
;
I f eel it t ob em y d u t y t osu p p ort t hep et it ionw hichhas
b eengraciou sl y sent t om eb y m y col l eagu ef orm y
ob serv at ions
. "
TheR ev ol u t ionof 1 8 4 8

2 1 9
Theem p erorgav ehisd ecision, acced ingt oal l t here-
q u est sp u t f orw ard inSol om onR ot hschil d ' sp et it ion
. B y
w ay of show inghisgrat it u d e, R ot hschil d gav easu m of
f ort y t hou sand f l orinst oerect ab u il d ingint het ow nof
B rinnf ort hep u rp oseof scient if icresearch .
A l t hou gh, ashasb eenshow n, t hehigherau t horit iesin
t hest at ef u l l y su p p ort ed R ot hschil d , t heM orav ianE s-
t at esw ereof acom p l et el y cont rary op inion . A st heem -
p eror' sd ecisionhad al read y b eenp rom u l gat ed , it w as
im p ossib l ef ort hem int hecircu m st ancesof t het im e
op enl y t oresist it , 3 7 b u t t hey d et erm ined at any rat et o
ad d ress" t hem ost hu m b l ereq u est t ohisM aj est y t hat no
ex t ensionof any kind w hat ev ert ot heex cep t ioninq u es-
t ionshou l d b eaccord ed , and t hat t heconcessiongra-
ciou sl y grant ed t oB aronv onR ot hschil d shou l d b e
st rict l y l im it ed inap p l icat iont o a singl e
d em esne . "
Thisp et it ionw asd u l y sent f orw ard t ot heem p eror,
b u t C ou nt I nz aghy m ad et heob serv at iont hereont hat
" t hisp et it ionof t heM orav ianE st at esd oesnot ap p eart o
b eent irel y consonant w it ht heirp rop erat t it u d et oy ou r
M aj est y . "
Thep ap ersw eref inal l y p resent ed t ot heem p eror, t ob e
d isp osed of b y t hef ol l ow ingsent ence :
3 8
" I concu rin
y ou rop inion, and it ism y w isht hat t hisu ncal l ed f or
su ggest ionb y t heM orav ianE st at esshou l d b ep u t b y
w it hou t rep l y " ; and t heem p erord u l y signed .
B aronR ot hschil d , hav ingob t ained hisI m p erial M aj -
est y ' sb l essing, at anex p end it u reof go, ooof l orinsf or
p u b l icb enef it int hep rov inceof M orav ia, t heM orav ian
E st at esd ecid ed asap rot est not t oaccep t Sol om on' sof f er .
R ot hschil d , how ev er, d et erm ined t hat t he4 o, ooof l orins
shou l d b eap p l ied t ot hep u rp osehehad int end ed , l eav ing
it " ent irel y t ot hed ecisionof hisM aj est y ast ohow t he
m oney shou l d b eap p l ied , m y w ishb eingt hat t hep rov -
inceof M orav iashou l d b enef it . "
B aronv onP il l ersd orf , of t heem p eror' ssecret ariat ,
recom m end ed t hat " t hat t heE m p erorshou l d not ew it h
2 2 0

TheR eignof t heH ou seof R ot hschil d


ap p rov al B aronv onR ot hschil d ' srenew ed of f er, and
shou l d grant t hat heshou l d b einf orm ed of t hem an-
nerinw hicht hem oney shou l d b esp ent . Thisw ou l d
ap p eart ob einaccord ancew it ht hed ignit y of t heI m -
p erial G ov ernm ent , and w ou l d al soconv ey ahint t ot he
M orav ianE st at est hat t heircond u ct int hem at t erhas
not b eenq u it eseem l y , orshow nt hat consid erat ionf or
t hed ecisionsof t heirsov ereignw hichishisd u e . "
C ou nt K ol ow rat w asof t hesam eop inion, and t hem at -
t erw asd isp osed of b y t hef ol l ow ingm inu t e, w hicht he
em p erorsigned asu su al , onit sb eingl aid b ef orehim
" I am p l eased t oaccep t B aronv onR ot hschil d ' sp ro-
p osal , and l eav eit t ot heP resid ent of t heC hancery t o
ind icat esom ew ay of ap p l y ingt hegif t insom em anner
ap p rox im at ingt hep u rp oseind icat ed b y t hed onor. "
Thisend ed t hem at t er, and Sol om onR ot hschil d w as
f reet op u rchaseest at esand d em esnes
. D u ring
1 8 4 4
he
b ou ght t heest at eof O d erb ergf rom C ou nt H enckel , as
w el l ast hep rop ert y of L u d z ierz ow it z inP ru ssia ; and
in1 8 4 5 heb ou ght t heH iil t schinest at e . Since1 8 4 3 Sol o-
m onhad ow ned t heSchil l ersd orf d em esneinP ru ssia,
neart heA u st rianf ront ier . I noned irect iont hisest at e
consist ed of am agnif icent cast l e, com p l et ew it hf ou n-
t ains, m oat s, w at erf al l s, sw ans, grot t oes, kennel sand gam e
p reserv es . I nt heot herd irect iont herew asaf ou nd ry and
ot herind u st rial w orks . Sol om onR ot hschil d had now
su d d enl y b ecom eoneof t hel argest l and ed p rop riet ors
int hecou nt ry .
Theresent m ent arou sed b y t hegrow ingp ow erof t he
H ou seof R ot hschil d , w hichhad m anif est ed it sel f in
connect ionw it ht heirp u rchaseof real est at e, b ecam eesp e-
cial l y ev id ent inconnect ionw it ht hep rel im inary d iscu s-
sionsregard ingt heconst ru ct ionof acent ral rail w ay
t hrou ghH u ngary , inw hichSol om onR ot hschil d m eant
t op l ay al ead ingp art . Sina' sriv al ry w asal soaf act orin
t hism at t er, and hehad su cceed ed insecu ringt hesu p p ort
of C ou nt Sz echeny i, t hegreat H u ngarian
.
TheR ev ol u t ionof 1 8 4 8

2 2 1 '
A nd , ind eed , t hem agnif icent d isp l ay inw hichSol om on
R ot hschil d had l at t erl y ind u l ged , asf orinst ancew henon
aj ou rney , w assu chascou l d not f ail t oarou seresent m ent
.
H isp rogressf rom p l acet op l acew asal m ost regal . A
m eet ingof t heC ent ral H u ngarianR ail w ay C om p any
had b eencal l ed t ob ehel d at P ressb u rgonA p ril 2 8 , 1 8 4 4 -
Sol om onR ot hschil d arriv ed b y st eam ert heev eningb e-
f ore, and anu np l easant sensat ionw ascau sed b y t hef act
t hat t heb oat
on hisaccou nt st op p ed at t heK onigsp l at z ,
inst ead of at t heu su al l and ingst age . Theoccu p ant sof
som eof t heroom sat t heH ot el z u rSonne, w heret he
b aronst ay ed , had b eenf orced t ov acat et hem , sot hat t hey
m ight b ep l aced at hisd isp osal . I t l eaked ou t t hat t w o
coaches- and - f ou r, w it hou t rid ers, had b eenord ered f or
t heb aron' sret u rnt oV iennaont heev eningof t he2 9 t h
.
R ot hschil d ' sco- rel igionist sal sow ished t ogiv ehim a
sp ecial w el com e .
" A l argenu m b erof J ew shere, " t hep ol icerep ort
st at ed , " w ait ed f orhim ont heb anksof t heD anu b e
;
C ou nt E st erhaz y f ru st rat ed t heirint ent ionof accord ing
t heB aronasp ecial w el com e, ashew ou l d not al l ow t he
J ew st ocarry ou t t heirschem eof l et t ingof f f ort y rocket s .
They w ererest rained ev enf rom shou t ingt heirw el com e,
w hich, inv iew of t heil l f eel ingb et w eent hecit iz ensand
t heJ ew shere, m ight easil y hav el ed t oab reachof t he
p eace
; asit w asp eop l ew erecom p l ainingb ecau set he
ship l and ed at t heK onigsp l at z onaccou nt of R ot hschil d ,
inst ead of at t heu su al l and ingp l ace
. W henhed isem -
b arked , acarriage- and - f ou rt hat had b eenw ait ingf or
him , t ookhim t ohishot el
. Soonaf t erhisarriv al hew ent
t ot heH ol l ingercaf e, w herehehad anice . A shel ef t ,
som ey ou ngp eop l eshou t ed at him f rom t heu p p erst ory
.
R ot hschil d isl u nchingt od ay w it hhisE x cel l ency H err
P erz onal e, and t hecom m issionersof t heop p osit ionp art y
w il l b e . t heret oo
. A t f ou ro' cl ock, w hent hey b reaku p ,
R ot hschil d w il l im m ed iat el y p roceed hom e
. I t w asorig-
inal l y int end ed t ohol d t hem eet ingof t heC ent ral R ail -
2 2 2

TheR eignof t heH ou seof R ot hschil d


w ay C om p any int heC ou ncil H al l ; b u t w henit w as
heard t hat som eof t hey ou ngp eop l eof t heD iet w ere
ex cit ed , and t hat C ou nt St ep hanSz echeny i, w hoisin
l eagu ew it hSina, had al sot akenp art int heagit at ion
against t heC ent ral R ail w ay , t hem eet ingw ascal l ed in
t heshoot inggal l ery . "
3 9
A t t hem ay or' sb anq u et , t hev ice- p al at ine, C ou nt sC arl
E st erhaz y and A nd rassy , t hem il it ary com m and erat
P ressb u rg, and nu m erou scou nt y m agnat es, m em b ersof
t hem ost im p ort ant f am il iesint hecou nt ry , su chasG a-
b riel , L ony ay , H ert el end y , and R ad ay , w erep resent .
Thesep eop l ew erep art icu l arl y f riend l y and agreeab l e
t oR ot hschil d , and oneof t hem p rop osed hisheal t hin
t hem ost f l at t eringt erm s, ex p ressingt hehop et hat t he
b aronand hisb rot hersresid ent int hev ariou scap it al s
of E u rop ew ou l d com et oH u ngary , and d ev ot et heir
w eal t hand t heirm oral resou rcesex cl u siv el y t ot hat cou n-
t ry . R ot hschil d t hanked him v ery p l easant l y , say ingt hat ,
f l at t eringast hesu ggest ionw as, it w asnot p ract icab l e,
sincef at eand circu m st ancesd ecid ed t hem at t er, b u t t hat
hew ou l d al w ay sd ev ot ehissp ecial at t ent iont ot heb eau -
t if u l cou nt ry of H u ngary
. Thisrem arkw asreceiv ed w it h
great ap p l au se
. A shel ef t , Sol om onob serv ed t hat he
w ou l d hav et of ol l ow t heex am p l eof t heschool m ast er
w ho, ashew ent aw ay , said t ohisp u p il s
: " I am going,
b u t I am l eav ingm y cl oakb ehind , and it w il l t el l m e
w hat ev ery b od y hasd one, and how t hey hav eb ehav ed
inm y ab sence
. " Thisrem arkw ast akenv ery good -
hu m ored l y b y t hosep resent , al t hou ghit w asv ariou sl y
com m ent ed u p onaf t erw ard s .
Thep riest hood w eref req u ent l y d isp l eased t oob serv e
t hegrow ingp ow erof t heJ ew ishb anker, and t hey sou ght ,
w herev erp ossib l e, t op u t d if f icu l t iesint hew ay of t he
H ou seof R ot hschil d
. Thu s, inconnect ionw it hhiscoal
and asp hal t w orksinD al m at ia, Sol om onw ascom p el l ed
onF eb ru ary 6, 1 8 4 5 , t oreq u est t heem p erort hat st ep s
m ight b et akent oind u cet heA rchb ishop of Z arat oin-
TheR ev ol u t ionof 1 8 4 8

2 2 3
st ru ct t hep riest s, w how erep u t t ingal l kind sof ob st acl es
int hew ay of t heu nd ert aking, t oceased oingso
. " H is
req u est sw ereal m ost al w ay sgrant ed , f orSol om onhad
su cceed ed inm akinghim sel f ind isp ensab l e
. H ew asj u st
consid eringanot herhighl y im p ort ant b u sinessw it ht he
st at e
; nam el y , acont ract regard ingt heset t ingu p of a
sal t - w orksf orp rod u cingsal t int heV enicel agoon, w it h
av iew t osu p p l y ingt heneed sof al m ost t hew hol eof
L om b ard y
.
4 1
W hen, asf req u ent l y occu rred , Sol om onw asaw ay f rom
V ienna, and st ay ingat F rankf ort , t heau t horit iesint he
m onarchy w how ereresp onsib l ef orit sf inances, f el t q u it e
u ncom f ort ab l e
. Thisw asesp ecial l y t hecasew hent here
w asasu d d ensl u m p inrail w ay secu rit ies, and acrisison
t heb ou rseinV iennainO ct ob er, 1 8 4 5 , t herehav ingb een
m u chsp ecu l at ionint hesest ockst here, asev ery w hereel se
inE u rop e
. A l arm ist ru m orsregard ingd ist u rb ancesin
I t al y sof araccent u at ed t hecrisist hat t het hreest at e
b ankers, Sina, E skel es, and t hem anagerof R ot hschil d ,
w how asab sent , req u est ed t hest at et ocom et ot heirim -
m ed iat eassist ancew it hal oanof t w om il l ionf l orinson
t heirj oint secu rit y , t hat acal am it y m ight b eav ert ed
.
M et t ernichinst ru ct ed t heA u st rianm inist erat F rankf ort
t oreq u est Sol om on, inv iew of t hest at eof t hem oney
m arket , eit hert ocom et oV iennahim sel f , ort osend an-
ot herm em b erof hisH ou se
. H est at ed t hat hef el t it t ob e
essent ial int heint erest of t hest at e' sf inancest hat one
m em b erof t heR ot hschil d f am il y shou l d resid ep erm a-
nent l y inV ienna . 4 2
Sol om onrep l ied ev asiv el y , ashehad u rgent b u siness
inF rankf ort , w heret herew ereal sof inancial d if f icu l t ies
;
b u t t heincid ent serv ed t oshow how , assoonasA u st ria
w asf inancial l y em b arrassed , M et t ernichcried ou t f or
R ot hschil d .
I nF rance, t oo, t hed irect ionof t hest at e' sf inancesw as
t oal argeex t ent d ep end ent u p ont heH ou seof R ot hs-
chil d
. I n1 8 4 1 w henJ am esR ot hschil d w ast akingt he
2 2 4

TheR eignof t heH ou seof R ot hschil d


cu reat G ast ein, t heF renchf inancem inist er, H u m ann,
asked him t ob einP arisw it hou t f ail b y Sep t em b er
7
or
9 ,
ashew asanx iou st hat t heconcl u sionof al oanshou l d not
b ep ost p oned b ey ond t hat d at e . " I np oint of f act , al oan
of i5 o, ooo, ooof rancs3 % rent esw asu nd erw rit t enin
O ct ob er, 1 8 4 1 , at 7 8 . 5 2 , b y acom p any of w hichJ am es
R ot hschil d w aschairm an, w it hou t any oneel sehav ing
b eenasked t ob id f orit . Therew asgreat d issat isf act ion
ov ert hel oaninP aris ; it w asnot consid ered t ohav ed one
j u st icet ot hecou nt ry ' scred it , and t hef eel ingw ast hat
H u m annhad b eencheat ed . Therew ere, inf act , d eal -
ingsont heb ou rseint hel oand irect l y af t erit had b een
u nd erw rit t enb y t heH ou seof R ot hschil d , at 8 ip ercent . " '
TheH ou seof R ot hschil d w asconst ant l y em p l oy ed b y
L ou isP hil ip p e' sgov ernm ent ind ip l om at icasw el l asin
f inancial m at t ers . W henG eneral E sp art ero, af t ercon-
q u eringD onC arl os, had f orced t heq u eenm ot hert of l ee
t hecou nt ry , m akinghim sel f R egent of Sp ain, G u iz ot
d ecid ed t hat it w asd esirab l et oest ab l ishb et t ert erm s
w it hhim
. TheF renchgov ernm ent b eingingeneral on
good t erm sw it hM arieC hrist ine, F rance' sd ip l om at ic
rep resent at iv eat M ad rid w ou l d hav enot hingt od ow it h
E sp art ero
. I t w asd ecid ed t om akead v ancest ohim
t hrou ght heH ou seof R ot hschil d , and G u iz ot asked
J am est oconv ey t hew ishesof t heF renchgov ernm ent in
al et t ert ohisrep resent at iv eW eisw eil l er, t hrou ghw hom
G eneral E sp art erohad inv est ed hisp riv at em oney , so
t hat t hrou ght hischannel t hegeneral m ight b einf orm ed
of t hem . W eisw eil l erd em u rred at t hesu ggest ionb ecau se
hef eared t hereb y t oend angert hef inancial and com m er-
cial int erest sof t heH ou seof R ot hschil d inSp ain . H ow -
ev er, t hem essagesw ereu l t im at el y conv ey ed , al t hou gh
f u rt herev ent sinSp ain, end ingw it ht hef al l of E sp ar-
t ero, b rou ght t heaf f airt oanegat iv econcl u sion . "
A l t hou ghhehad b eenu nab l et op rev ent t heu l t im at e
d ef eat of hisp rot egeD onC arl os, M et t ernichst il l hop ed
p art l y t om od if y it sresu l t s . H isid eaw ast om arry t he
TheR ev ol u t ionof 1 8 4 8

2 2 5
y ou ngQ u eenI sab el l a, d au ght erof M arieC hrist ine,
w how asf ou rt eeny earsol d in1 8 4 4 , t oD onC arl os' sson,
inord ert hu sind irect l y t op l acet hesonof hisp rot ege
u p ont het hroneof Sp ain
. TheL ond onR ot hschil d shad
w rit t ent oSol om oninV iennaonM arch 2 9 ,
t el l inghim
t hat t heB rit ishm inist ry w ou l d d oev ery t hingp ossib l et o
p rom ot et hesu ccessof t hisp l an
. Sol om onim m ed iat el y
p assed t hisont oM et t ernich, w hoex p ressed t heop inion
t hat t heconsu m m at ionof su cham arriagew ou l d b ea
real l y hap p y ev ent f ort hew hol eof E u rop e, and w ou l d
serv et ob ringint ol ineF rance' sand E ngl and ' sisol at ed
p osit ionw it hregard t oSp anishaf f airs, w it ht heot her
t hreef oreignof f ices
. F ort hesakeof hisow np ersonal
p rest ige, ap art f rom ot herconsid erat ions, M et t ernichd id
at t achgreat im p ort ancet ot his, f orhehad p ersonal l y
m ad eev ery p ossib l eef f ort at t hecou rt sof B erl inand
St
. P et ersb u rg, onb ehal f of t hecau seof D onC arl os
.
Sol om onR ot hschil d al sop erceiv ed t hat su chanev ent
w ou l d p rov id eal l kind sof p ossib il it iesf orhisH ou se .
" I f t hisev ent , sof rau ght w it hb enef it f ort hef u t u reof
Sp ain, shou l d com et op ass, " hew rot et ot heR ot hschil d
H ou sesinP aris, L ond on, and F rankf ort ,
4 8 " t hem om ent
w ou l d hav earriv ed f orou rH ou set orend eref f ect iv e
f inancial aid t ot heconsol id at ed G ov ernm ent of t hat cou n-
t ry
. O u rhonored P rincew ou l d him sel f ad v iseu scon-
f id ent l y t ocom ef orw ard and d em onst rat eou rw il l ingness
t oset ab ou t p u t t ingint oop erat ionanex t ensiv ef inancial
arrangem ent f orSp ain, inw hichend eav orsw eshou l d b e
ab l et ocou nt u p ont hef u l l est su p p ort f rom hisH ighness
inev ery p ossib l ew ay
.
" H av ingb eenau t horiz ed b y hisH ighness, m y d ear
b rot hers, t oinf orm y ou of hissent im ent sex act l y ast hey
w erecom m u nicat ed t om e, rem em b eringt hat t hey aret he
v iew sof him w hom w eareaccu st om ed t oregard asou r
oracl e, I need not req u est y ou t om aket hem t hegu id ing
p rincip l eof y ou ract ions, assoonasev ent st akesu cha
cou rset hat w em ay giv eu p t heat t it u d eof m erecon-
2 2 6

TheR eignof t heH ou seof R ot hschil d


t em p l at ionand em b arkonacou rseof act ionsu it ab l et o
t hesehighl y im p ort ant circu m st ances
. "
E v ent s, how ev er, w eret of al l ou t ot herw ise
. I sab el l a
w asm arried t ohercou sin, and not t ot hesonof D on
C arl os, and M et t ernich' sw hol ed ream of b eingj u st if ied
inSp ainasw el l , w asb rou ght t onau ght . M et t ernichw as
ex ceed ingl y ind ignant ab ou t t his, and al t hou ghgeneral l y
sol enient inhisat t it u d et ot heH ou seof R ot hschil d , in
t hecaseof t heSp anishaf f airhew asincl ined t ol ay al l
t heb l am eu p ont heP arisand t heL ond onH ou ses
.
I nP aris, t oo, t herew asast rongp art y t hat w asm u ch
incl ined t ol ookaskanceat t hep osit ionof sp ecial con-
f id enceenj oy ed b y t heH ou seof R ot hschil d
. Thisw as
esp ecial l y t hecasew it ht hosew hom t heR ot hschil d shad
not associat ed w it ht hem sel v esint heN ort hernR ail w ay
u nd ert aking
. Tohav eb rou ght inal l t hosew how ant ed
t om akem oney w ou l d of cou rsehav eb eenim p ossib l e,
and t hosew how erel ef t ou t said , t oany b od y t hey cou l d
get t ol ist ent ot hem , t hat L ou isP hil ip p ehad sim p l y
resigned inf av orof t heJ ew s
.
M et t ernich, inam om ent of il l t em p er, onceex p ressed
him sel f rat herst rongl y w it hregard t ot hep osit ionof t he
R ot hschil d sinF rance
. A f t erem p hasiz ingt hed if f erence
incond it ionsb et w eenA u st riaand F rance, hesaid
: " B y
reasonof nat u ral cau sesw hichI cannot regard asgood
orasm oral , t heH ou seof R ot hschil d isam u chm ore
im p ort ant inf l u enceinF renchaf f airst hant heF oreign
O f f iceof any cou nt ry , ex cep t p erhap sE ngl and
. Thegreat
m ot iv ef orceist heirm oney
. P eop l ew hohop ef orp hi-
l ant hrop y , and w hohav et osu p p ressal l crit icism u nd er
t hew eight of gol d , need agreat d eal of it
. Thef act of
corru p t ionisd eal t w it hq u it eop enl y , t hat p ract ical el e-
m ent , int hef u l l est senseof t hew ord , int hem od ernrep -
resent at iv esy st em
. " 4 ?
V onA rnim , t heG erm anm inist erinP aris, d escrib ed
t heH ou seof R ot hschil d asoneof t hegreat p ow ersof
t hep resent d ay , and su ggest ed t hat f ew gov ernm ent sw ere
TheR ev ol u t ionof 1 8 4 8

2 2 7
inap osit iont osay t hat t hey d id not b eart hegol d en
chainsof t hat H ou se . 4 8
Thisw asnat u ral l y m orel ikel y t ob et hecaseinacou n-
t ry w heret hef ev erof sp ecu l at ionhad l aid hol d of al l
cl assesof t hep op u l at ion, and w hereev ent heem p l oy ees
of t hegov ernm ent sp ecu l at ed sham el essl y ont heb ou rse
.
J am esR ot hschil d d id not p erceiv et hed issat isf act iont hat
t hisst at eof af f airsw asarou singint hecou nt ry . H eim ag-
ined t hat j u st b ecau seev ery b od y w asnow engaged in
sp ecu l at ionand m oney - m aking, t herew ou l d b enod esire
t oov ert hrow t heex ist inggov ernm ent , f orf earof l osing
m oney . " Thed ep art m ent s, " J am esR ot hschil d said t o
C ou nt A p p ony iat t hist im e, " t hat hav egot rail w ay s, w ant
t okeep t hem inord ert om akeasm u chp rof it ou t of t hem
asp ossib l e
. Thosew hichhav enot y et got t hem hop eand
w isht ohav et hem int henearf u t u re . A sb ot ht heseaim s
canb ereal iz ed onl y b y t hem aint enanceof p eaceand
ord er, ev ery b od y isnow d ecl aringhim sel f t ob econserv -
at iv eand p ro- G ov ernm ent . "
J am es' sj u d gm ent w ast oom u chaf f ect ed b y t heat t it u d e
of t hosecircl esw it hw hom hehad m ost t od o . H el ef t
t hef ou rt hest at e, t hat of t hew orkm enand p easant s, ou t
of t heaccou nt , b ecau sehecam esol it t l eint ot ou chw it h
t hem . H isat t ent ionw asp rincip al l y engaged b y t heenor- .
m ou sw orkof rail w ay const ru ct ion . I nord ert osil ence
su chop p osit ionasinv ariab l y arisesinp arl iam ent and in
t hep ressinconnect ionw it hany im p ort ant u nd ert aking
hed id hisu t m ost t ogiv eop p osingel em ent sashareint er-
est int heconcern
. Theonl y organt hat ref u sed t oaccep t
sharesw ast heop p osit ionp ap er, N at ional , w hichcon-
t inu ed act iv el y t oop p oset heN ort hernR ail w ay .
O nJ u nei5 , 1 8 4 6, sect ionsof t heN ort hernR ail w ay
w ereop ened w it hgreat f est iv it ies . O nJ u l y 8 of t hat y ear,
t herew asarail w ay accid ent . Thisp rod u ced asu d d en
st orm of p am p hl et sand at t acksint hep ress . Theaccid ent
w as, ind eed , av ery seriou sone . N earF am p ou x , cl oset o
A rras, t het rainhad ru n
of f
t he
l ines
on
t o
an
em b ank-
2 2 8

TheR eignof t heH ou seof R ot hschil d


m ent w hichcu rv ed sharp l y , ru nningint oast ret chof
w at erat t hef oot of t heem b ankm ent . Thirt y - sev enp eop l e
w erekil l ed , and t heaccid ent p rod u ced v iol ent at t acks
u p ont heb u il d ersof t herail w ay , and esp ecial l y u p ont he
m ost im p ort ant f act or, t heH ou seof R ot hschil d .
TheN at ional st art ed ap osit iv ecam p aignagainst t hem ,
and J am esR ot hschil d w asat t acked inp am p hl et sonal l
sid es . Therehad b eensim il arat t acksb ef oreinG erm any ,
w hereacert ainA l ex and erW eil , w how asknow nasa
social ist and com m u nist , had l au nched m al iciou sat t acks
inap am p hl et cal l ed " R ot hschil d and t heE u rop ean
St at es, " against t hef inancial d esp ot ism and egot ism of t he
H ou seof R ot hschil d .
4 9
H eend eav ored t oshow t hat t here
w asonl y onep ow erinE u rop e, nam el y R ot hschil d
; his
of f icersw eread oz enot herb ankingf irm s, hism enw ere
al l honorab l et rad esm enand w orkp eop l e, and hissw ord
w assp ecu l at ion .
Thisef f u sionw asex t raord inaril y t am ecom p ared t ot he
st orm t hat now b rokeou t inF rance . Theou t st and ingat -
t ackw ascont ained inap am p hl et cal l ed " H ist oiree' d if i-
ant eet cu rieu sed eR ot hschil d I , roid esj u if s, " w hichcon-
t ained ad escrip t ionof t herail w ay accid ent of J u l y 8 .
Thism ost u nsav ory p rod u ct ion, w hichl aid al l t heb l am e
onJ am esand hisH ou se, w asanony m ou sl y circu l at ed in
l argeq u ant it ies
. Therew ereont heot herhand , p eop l e
w hoend eav ored t osp read t heim p ression, ab road t hat t hey
had b eenau t horiz ed b y J am est oissu eacou nt er- p am p hl et
inrep l y t ot his .
A m anw hohad not t hef aint est connect ionw it hJ am es
R ot hschil d , p u b l ished ap am p hl et u nd ert het it l e
: " B aron
J am esv onR ot hschil d ' sO f f icial R ep l y t ot heP am p hl et
E nt it l ed , ' H ist oireed if iant e, et c . '"
A not herp ersonp ro-
d u ced ap am p hl et ent it l ed " R ep l y b y R ot hschil d t he
F irst , K ingof t heJ ew s, t oSat an
. t heL ast , K ingof
Sl and erers. "
Su chp ersonst hent ried t oex t ract acashrew ard f rom
J am es, b u t t hey w erenot su ccessf u l
in t his, f orJ am es
The R ev ol u t ion of 1 8 4 8 2 2 0
m eant t oignoreal l p am p hl et eerseq u al l y , w het hert hey
w eref ororagainst him . H ef ou nd it im p ossib l e, how -
ev er, t oad heret ot his, f orp oort hou ght heircom p osit ion
w as, t hep am p hl et sw erecircu l at ed int ensof t hou sand s,
and A m schel M ey erat F rankf ort d id not rem ainascal m
ashisb rot herJ am esw hent hesescu rril ou sat t acksb egan
t oap p earinP ru ssia, inG erm ant ransl at ions . I t w as
t heref ored ecid ed t ot akeact iv est ep s, and Sol om on' sson
A m schel ap p l ied d irect t ot he . P ru ssiangov ernm ent .
Y ou rE x cel l ency [ hew rot e] w il l , I am su re, f or-
giv em ew it hy ou ru su al kind ness, f oraskingf ory ou r
at t ent ion, al t hou ght hem ost im p ort ant m at t ersof t he
St at ehav esu chacl aim u p onit , t om y l et t erinw hich
I d eal w it ham at t erof great concernt oou rf am il y .
Y ou rE x cel l ency isnod ou b t aw aret hat af t ert he
u nf ort u nat eaccid ent ont heN ort hernR ail w ay of
F rance, sev eral scu rril ou sat t acksw erep u b l ished
against m y u ncl e, B aronJ am es, asrep resent ingt he
P arisH ou se ; t hep am p hl et eersd id not m erel y at -
t rib u t et heresp onsib il it y f ort heaccid ent t om y
u ncl e, b u t al sod id not scru p l et om aket hef ou l est
and ent irel y u nf ou nd ed im p u t at ionsu p ont hechar-
t erand m oral it y of ou rb u sinessw it hanim p u d ence
su chasI hav enev erb ef oreex p erienced . W ef el t
t hat it w asb eneat hou rd ignit y t od ef end ou rsel v es
against su chv u l garab u se, esp ecial l y asit em anat ed
p rincip al l y f rom ad esp icab l ep erson, t ow hom ou r
P arisH ou sehad q u it eright l y ref u sed al oan
. O u r
v iew w ast hat t herab b l e, w hichism oreincl ined t o
l ist ent oab u set hant ot ru t hand right , isd if f icu l t t o
conv ince, b u t t hat t heim p art ial , t hou ght f u l sect ion
of t hep u b l ic, w hichhashad anop p ort u nit y of ob -
serv ingou rm annerof act ingov erap eriod of y ears,
d oesnot need t ob econv inced .
I t ist ru et hat short l y af t erw ard ssev eral cou nt er-
p am p hl et sap p eared , d ef end ingou rH ou seagainst
t hesescu rril ou sat t acks, b u t t hisw asd oneent irel y
w it hou t ou rcol l ab orat ion, and ind eed w it hou t ou r
2 3 o

TheR eignof t heM ou seof R ot hschil d


know l ed ge . A sl ongasou renem iesconf ined t heir
act iv it iest oF renchsoil , w ed id not f eel t hat any
u sef u l p u rp osew ou l d b eserv ed b y t akingany act ion
t op rev ent t hem , asF ranceist hehu nt ing- grou nd
of t hem ost u nrest rained p ress, and nob od y w hooccu -
p iesany p rom inent p osit ionissp ared it sp oisonou s
at t acks . I nG erm any , how ev er, and esp ecial l y in
P ru ssia, t hisisnot orshou l d not b et hecase . A l l t he
m orep ainf u l , t heref ore, w ast heim p ressionm ad e
w henw ef ou nd t hat sim il arscu rril ou sp am p hl et s
w ereb eingp u b l ished inB erl inand B resl au .
I w il l not d isgu isef rom y ou rE x cel l ency t hat at
t heirad v anced t im eof l if em y f at herand m y u ncl e
hav ef el t t heseat t acksv ery keenl y , and p erceiv ew it h
regret t hat u nd ert heru l eof oneof t hej u st est of
m onarchs, and insp it eof t hecont rol of t hest rict
censorship it shou l d b ep ossib l einacou nt ry t ow hich
t hey hav erend ered su chim p ort ant serv icesov ersu ch
al ongp eriod of y ears, f ort hesef ou l ab ort ionst osee
t hel ight of d ay .
F orand onb ehal f of al l t hem em b ersof ou r
H ou se, I t heref oreap p l y w it hconf id encet oy ou rE x -
cel l ency , w it ht hereq u est t hat y ou w il l al l ow t he
at t ached p et it ionw hichhu m b l y set sou t ou rj u st
com p l aint , t oreacht hehand sof hisM aj est y t he
K ing . M y f am il y b el iev et hat t hey hav easp ecial
cl aim u p ont heinf l u ent ial coop erat ionof y ou rE x -
l ency ont hisoccasion, and t hat y ou w il l seet hat st ep s
aresp eed il y and ef f ect iv el y t akent op rev ent any re-
cu rrenceof t hisnu isance, sincew hat hasoccu rred
cannot now b eu nd one . B y grant ingt hisou rreq u est
y ou rE x cel l ency w ou l d , if p ossib l e, st il l f u rt herin-
creaseou rsinceref eel ingsof grat it u d e, esp ecial l y
int hecaseof m y f at herand m y u ncl e, w hoareso
com p l et el y d ev ot ed t o y ou , and w how ou l d b ep u t
u nd eranev erl ast ingd eb t of grat it u d e
. "
TheH ou seof R ot hschil d set p art icu l arhop esont his
p et it ion, b ecau seA nsel m had b eenincl osenegot iat ions
P iu sI X
TheR ev ol u t ion of 1 8 4 8

2 3 1
int hesu m m erof t hat y earw it ht heP ru ssianf inancem in-
ist er, regard ingt hegeneral reorganiz at ionof P ru ssia' s
p u b l icf inances . Theat t acks, how ev er, af f ect ed t heH ou se
of R ot hschil d t oanex t raord inaril y sm al l d egree ; t he
f inancial req u irem ent sof t hegreat st at esw it hw hicht he
R ot hschil d sw ereint ou chw eresop ressing, and t he
R ot hschil d m onop ol y int hism at t erw assom arked t hat
it w asim p ossib l et od isp ensew it ht hem , and al l t hese
u np l easant at t acksw ereignored .
A m schel M ey erw ast het reasu rerof t heG erm anF ed -
erat ion ; A u st riaand P ru ssiahad rep aid t hem oney f or
t hef ort ressconst ru ct ionint ot heF ed eral accou nt , and
w heninF eb ru ary , 1 8 4 6, R ot hschil d rend ered ast at em ent
it ap p eared t hat t heF ed erat ionhad anam ou nt of sev en
t oeight m il l ionsl y ingat int erest int hat accou nt .
E v ent heP op eagainent ered int onegot iat ionsw it ht he
H ou seof R ot hschil d , t hrou ght heint erm ed iary of M et -
t ernich, inord ert oob t ainm oney f orconst ru ct ingrail -
w ay s . SinceJ u ne, 1 8 4 6, t hel ib eral - m ind ed P iu sI X had
occu p ied t hep ap al chair, and heim m ed iat el y assent ed t o
t heconst ru ct ionof t herail w ay s, w hichhad not b een
al l ow ed u nd erhisp red ecessor . I nt hisconnect iont he
chancel l orf orw ard ed , onA u gu st
1 3 , 1 8 4 6, arep ort of a
conv ersat ionb et w eenA nsel m . and t hep ap al nu ncioat
F ranz ensb ad . 61
A u st riareq u ired af u rt herl oanin1 8 4 7 , and t het hree
b anks, incl u d ingR ot hschil d ' s, u nd ert ook, inret u rnf or
8 0 , ooo, ooof l orinsof b ond st op ay 8 4 , 0 0 0 , 0 0 0 f l orinscash
insix t y - f iv em ont hl y inst al m ent s, com m encingonJ u ne 1 ,
1 8 4 7
. ' Thiscond it ionw ast op rov eof v it al im p ort ance,
inv iew of w hat occu rred int hef ol l ow ingy ear . Thel oan
had scarcel y b eenagreed t o, w henaf u rt herreq u est w as
sent int ot hechancel l or' sof f ice, askingt hat ad isp ensat ion
shou l d b egrant ed , b 2 sot hat hisf ait hshou l d not b eab ar
t oSol om on' ssonA nsel m receiv ingt heex p ect ed grant of
t hef reed om of t heC it y of V ienna . C ou nt K ol ow rat
m inu t ed ont hist hat q u it eap art f rom t hef act t hat A n-
2 3 2

TheR eignof t heH ou seof R ot hschil d


sel m , w how asnol essp u b l ic- sp irit ed t hanhisf at her,
m ight b eex p ect ed t ocont rib u t egenerou sl y t op hil an-
t hrop icinst it u t ionsinm at t ersof p u b l icint erest t ot he
C it y of V ienna, it m u st al sob enot ed t hat " it isint he
int erest sof t heSt at et hat t hisd isp ensat ionshou l d b e
grant ed , sinceit w ou l d b eanu np l easant p osit ionif t he
p rincip al b anksat V ienna, t ow hichrecou rseishad f or
l oansand ot herf inancial op erat ions, w eret ob ered u ced
b y oneont hed eat hof Sol om on, B aronv onR ot hschil d ,
sot hat w eshou l d b ep ract ical l y conf ined t od eal ingw it h
t heH ou seof Sina
. " 63
A nsel m w as, inp oint of f act , ent ered int heG ol d en
B ookof t heC it y of V ienna . A f u rt herp et it ionw assent
innot l ongaf t ert hef irst , onJ u neii, 1 8 4 7 . I nit , Sol om on
req u est ed t hat hisest at eat K orit schau inM orav ia, and
t hreet ow nhou sesinV ienna, m ight b eam al gam at ed int o
anent ail ed est at e, t ot hev al u eof
2 , 0 0 0 , 0 0 0 f l orins . H e
asked t hat t hev al u eof
2 , 0 0 0 , ooo f l orinsshou l d b esp e-
cial l y consid ered , ast hel aw d id not cont em p l at esu ch
anarrangem ent int hecaseof est at esex ceed inginv al u e
t hem ax im u m am ou nt of 4 0 0 , 0 0 0
f l orins, hisM aj est y
al onehav ingp ow ert oau t horiz eany ex cep t iont ot his . "
Theem p erorref erred t hisp et it iont ot hed ep art m ent s
f ort heirob serv at ion, and im p ort ant ev ent sw hichoc-
cu rred short l y af t erw ard sp rev ent ed Sol om on' sreq u est
f rom b eingsp eed il y grant ed
.
I nE ngl and t oo, t hep osit ionof t heH ou sew asu nim -
p aired
. L ionel , N at han' sel d est son, w asex cep t ional l y
act iv eand ind u st riou s . They ou ngerb rot hers, A nt hony
and N at haniel and M ey erN at han, b ecam ef am ou ssp ort s-
m enand ow nersof race- horses . N at haniel l iv ed inP aris .
H ew asaninv al id , b u t het ookanint erest inart and
scienceand int hep ol it ical ev ent st hat w eret akingp l ace
arou nd him
. Thet hird generat ionof t heH ou sew asal -
read y p rod u cingp ersonst hat d id not d ev ot et hem sel v es
t of inancial w ork, b u t at t ached great erv al u et ot heir
social p osit ion, t oart and sp ort
. L ionel achiev ed ap ar-
TheR ev ol u t ionof 1 8 4 8

2 3 3
t icu l arl y honored p osit ionint hef inancial l if eof G reat
B rit ainw hen, inM arch, 1 8 4 7 , heof f ered t ot heE ngl ish
P arl iam ent , w hichw asend eav oringt o , d eal w it ht he
u nf ort u nat econd it ionof I rel and , hisf inancial assist ance
f orcarry ingt heref orm st hat had b eenp l anned f ort hat
cou nt ry . Thechancel l orof t heex cheq u eract u al l y ar-
ranged al oanof 8 , ooo, ooot hrou ghR ot hschil d and
B aring, al oanw hichl at erb ecam ef am ou su nd ert henam e
of t heI rishF am ineL oan.
W hereasN at hanhad al w ay ssou ght t oav oid any p ol it -
ical d ignit y orp osit ionu nd ert hegov ernm ent , L ionel
w ant ed t oget int ot heH ou seof C om m ons . N ow , accord -
ingt oest ab l ished cu st om , J ew scou l d not hol d civ il or
m il it ary of f iceinE ngl and . They w erenot el ect ed t oP ar-
l iam ent , and t hey cou l d not v ot eat el ect ions . TheJ ew s
inE ngl and l iv ed inakind of p ol it ical and social G het t o
and nob od y ex cep t t heR ot hschil d sand af ew ot herf am -
il iesw hohad su cceed ed inachiev ingav ery sp ecial p osi-
t ionw ou l d hav et hou ght of at t em p t ingt oescap ef rom it .
O nl y t het w oH ou sesof P arl iam ent w ou l d hav eb eenab l e
t om akeex cep t ions or t oal t ert hesecond it ions . L ionel ,
how ev er, t hou ght t hat hisH ou sehad rend ered su chcon-
sid erab l eserv icest oE ngl and inf inancial m at t erst hat
heou ght t ob eab l et oget ov ert hesed if f icu l t ies .
I nA u gu st , 1 8 4 7 , L ionel R ot hschil d st ood asL ib eral
cand id at ef ort heC it y of L ond on, and hew asact u al l y
el ect ed , t oget herw it hL ord J ohnR u ssel l . N ow each
m em b erof t heH ou seof C om m ons, b ef oret akinghis
seat , had t ot akeanoat hcont ainingt hew ord s" ont he
t ru ef ait hof aC hrist ian . " N at u ral l y t hisoat hw asnot
onet hat L ionel cou l d t ake
. I t w asp rop osed int heH ou se
of C om m onst hat t hef orm of oat hshou l d b echanged ,
b u t t heU p p erH ou serej ect ed t hism ot ion
. L ionel t here-
f orecou l d not t akehisseat
; how ev erhest ood againas
acand id at e, and w asal w ay sreel ect ed b y t heC it y , al -
t hou ghhenev erex ercised hisf u nct ionsasaM em b er
of P arl iam ent .
2 3 4

TheR eignof t heH ou seof R ot hschil d


A sint hecrit ical y ear
i8 3 0 ,
soont heev eof 1 8 4 8 ,
t heR ot hschil d sw ereengaged inenorm ou sl oanop era-
t ions . I nad d it iont ot heI rishF am ineL oant hey w ere
hand l ingaF rench3 % , l oanof 2 5 0 , 0 0 0 , 0 0 0 f rancs, w hich
t heR ot hschil d shad u nd erw rit t enat 7 2 . 4 8 , hav ing, asin
t hecaseof t heA u st rianl oan, t akent hep recau t ionof
arrangingt hat it shou l d b ep aid onl y inm ont hl y inst al -
m ent s . A u st riahad al soind icat ed aw isht oarrangean
issu eof cert ainb ond sw hichw ast ob ekep t m ost st rict l y
secret and w hichw ast ob einad d it iont ot heord inary
l oans, t hisissu eb eingreq u ired t op rov id et hef u nd snec-
essary t ost rengt hent hem il it ary f orcesint hekingd om of
V eniceand L om b ard y , om inou ssignsof t rou b l ehav ing
ap p eared t hereinD ecem b er, 1 8 4 7 . I nt hisconnect ion
C ou nt K ol ow rat ex p ressed hisop iniongeneral l y ont he
p osit ionat t het im e, show ingconsid erab l ef oresight w it h
regard t of u t u red ev el op m ent s .
Them oney m arket [ hew rot e" ] isv ery d ep ressed ,
and t hereisnoreasont ohop ef orany earl y im p rov e-
m ent . I nd eed , p ol it ical d ev el op m ent sgeneral l y giv e
reasont of earat u rnf ort hew orse
. A f t ercaref u l con-
sid erat ionof t hem oney m arket , B aronK u b eckf eel s
t hat hecanconf id ent l y cou nt ont hesecu rit iesinq u es-
t ion, if not w hol l y , at any rat et oagreat ex t ent , b eing
kep t b y R ot hschil d inhisow nsaf e, and t hat hew il l
b econt ent w it hint erest at t herat eof 4
. 6% ,
av ery
m od erat erat eof int erest f orcom m ercial cap it al ,
esp ecial l y asit hast ocov eral l t herisksof t hep res-
ent u nset t l ed cond it ions .
B aronK u b eckt heref oreb ringsf orw ard t heH ou se
of R ot hschil d ' sp rop osal w it ht heu rgent req u est t hat
y ou rM aj est y w il l accep t it and t hat y ou rau t horiz a-
t ionm ay b ep hrased insu cham annerast op erm it
t hem at t ert ob ekep t st rict l y secret .
Them ost im p ort ant consid erat ionl iesint he
u rgent necessit y of giv ingt hef inancial ad m inist ra-
t iont hew id est p ossib l escop einit sef f ort st oex t ri-
TheR ev ol u t ionof 1 8 4 8

2 3 9
cat eit sel f f rom t heem b arrassm ent sconseq u ent u p on
heav y and u nf oreseenm il it ary ex p end it u re . There-
serv ef u nd t ow hichI hav eref erred is t hel ast sheet
anchort ow hicht heH ead of t heTreasu ry , w ho
sp areshim sel f noef f ort s, cancl ing . U nf ort u nat el y ,
w hent hissu m issp ent , t herew il l b enot hingl ef t
t od eal w it hany new m isf ort u net hat m ay arise .
Y et St at esm u st necessaril y reckonw it ht hep ossi-
b il it y of su chm isf ort u nes, ev enif t hey t aket hef orm
of ev ent st hat l ieb ey ond t hecont rol of hu m anit y ,
su chast hed eat hof t heH ead of a St at e, t heou t -
b reakof anep id em ic, ort hef ail u reof aharv est
. I
f eel it t ob em y d u t y at t hep resent m om ent t op u t
f orw ard t heseconsid erat ionsw it hou t reserv e, and as
em p hat ical l y asI can, w hil eit isst il l p ossib l et o
p l aceal im it ont heex cessiv em il it ary p rep arat ions
inI t al y , and ont heex p end it u reof ou rl ast resou rces
;
and t ocal l at t ent iont ot hef act , w hichw il l ot herw ise
b em ad eev id ent b y t hecom p l et eb reakd ow nof ou r
f inances, t hat t heA u st rianG ov ernm ent hassacrif iced
t oom u cht oit sp osit ionab road , and hasp aid t oo
l it t l eheed t ocond it ionsat hom e .
I f eel it m y
d u t y t om aket hegrav est at em ent t hat
w eareont hev ergeof anab y ss, and t heincreasing
d em and sont heTreasu ry arisingou t of t hem easu res
necessary t ocom b at f oreignrev ol u t ionary el em ent s
hav el ed t oincreased d ist u rb ancesw it hint hecou n-
t ry , asisind icat ed b y t heat t it u d eof t heP rov incial
E st at es, and b y t hel it erary ou t b u rst sint hep ressof
ou rneighb ors .
B aronK U b eck' sp rop osal cannot w el l su st aincrit -
icism of ast rict l y econom ickind . A ccord ingt ohis
ow naccou nt it hasarisenou t of t hehard necessit ies
of t hecase, and it onl y rem ainsf orm et oad d t hat
R ot hschil d ' sof f erseem st om et ob eaf airl y reason-
ab l eone, al t hou ght od ay , t he1 3 t hof F eb ru ary , 4 %
b ond sw eresol d ont heB ou rseat 9 3 % .
B aronR ot hschil d him sel f m akest hecond it iont hat
t hearrangem ent shal l b ekep t secret , al t hou ghof
2 3 6

TheR eignof t heH ou seof R ot hschil d


cou rset hisisev enm oreim p ort ant f ort hef inancial
ad m inist rat ion, w hichm u st av oid any t hingt hat
m ight arou seany u neasinessw it hregard t oA u st ria' s
cred it .
K ol ow rat ' srem arksw erecert ainl y j u st if ied
; t herew as
m arked d issat isf act ionint hecou nt ry w it ht heregim eof
t heaged C hancel l orM et t ernich, w how asnow inhis
sev ent y - sev ent hy ear, and w it hhisp al ad ins, esp ecial l y t he
inex orab l em inist erof p ol ice, C ou nt Sed l nit z ky
. I nI t al y
t hem easu resd irect ed against t hem ov em ent st ow ard
na-
t ional u nit y w erep art icu l arl y op p ressiv e, and M et t er-
nich' sinf l u encem ad eit sel f f el t w it hesp ecial sev erit y ,
sot hat t heb l essingsconf erred b y t heA u st riangov ern-
m ent ont hekingd om of V eniceand L om b ard y w ere
ent irel y f orgot t en
. D u ringt hem id d l ef ort iesf u rt her
t rou b l eshad b rokenou t int heneighb oringcou nt ry of
Sw it z erl and , w heret hep op u l at ionhad d iv id ed int ot w o
cam p sof R ad ical sand C onserv at iv es
. Thesev enC at hol ic
cant onshad u nit ed t of orm asep arat ef ed erat ion, and
had d ecl ared op enhost il it iesu p ont heR ad ical s .
I nN ov em b er, 1 8 4 7 , t heM od erat esw eref orced t ore=
t ireb y t hef ed eral arm y
. A u st ria, F rance, and P ru ssia,
w hosesy m p at hiesw erenat u ral l y w it ht heC onserv at iv e
f ed erat ion, regard ed t heev ent sinSw it z erl and asap er-
sonal d ef eat
. M et t ernichconsid ered t hat w hat had hap -
p ened const it u t ed ad irect m enacet oA u st ria' sp osit ionin
L om b ard y .
Sol om onR ot hschil d t oo, w hof ol l ow ed t hechancel l or' s
p ol icy t hrou ght hickand t hin, w asd eep l y af f ect ed b y
t heseev ent s
; hehast ened t oM et t ernichinconst ernat ion
onN ov em b erz o, 1 8 4 7 , t oaskf orinf orm at ionregard ing
t hegeneral p osit ionof af f airs . " '
M et t ernichb rief l y ou t l ined t hesit u at ion, and t hen
asked Sol om onw het herheb el iev ed " t hat it w ou l d b e
b et t erf ort heE m p erort osacrif icehisI t al ianSt at est o
t herev ol u t ion, and concent rat ehisf orcesont hissid eof
TheR ev ol u t ionof 1 8 4 8

2 3 7
t heA l p s, orw het herheshou l d assert hisp osit ionint he
K ingd om of V eniceand L om b ard y
. "
" N ot t hat l " ex cl aim ed R ot hschil d , w it href erencet o
t hef irst al t ernat iv e
. " I nt hat caseal l w ou l d b el ost
. "
" That isal som y v iew , " M et t ernichrep l ied , " and t hat
m u st b et hev iew of al l sensib l ep eop l e
. B et w eent hou ght
and act ion, how ev er, t hereisagreat d if f erence
. "
A ct ion, how ev er, cal l ed f orm eanst oact ion, and t he
m eanshad t ob eest im at ed
. M et t ernichw ent ont osay t o
R ot hschil d t hat hew ou l d su ggest t ot heem p erort hat he
shou l d com m and reenf orcem ent sf ort heI t al ianarm y
.
Thisw ou l d req u irem oney , and it w asessent ial t hat t he
m oney shou l d b eraised w it hou t d ist u rb ingt heregu l ar
cou rseof t hest at e' sf inances
. They had j u st got ov erone
crisissu ccessf u l l y
; af u rt hercrisisw ou l d b ev ery d anger-
ou s, and m u st at
al l cost sb eav oid ed
. Thechancel l or
d ecl ared t hat anex cep t ional sit u at ionreq u ired ex cep -
t ional m et hod sf ord eal ingw it hit , and asked Sol om on
w het hersu chex cep t ional assist ancew ou l d b ef ort h-
com ing
.
" A sm u chasy ou w ant , " Sol om onp rom p t l y rep l ied ,
" isat y ou rserv ice
. A nd it shal l not d am agey ou rcred it ,
ind eed it shal l im p rov eit
. Tel l m ew hat y ou w ant and
I ' l l p ay
it ov erat once . "
M et t ernichrep l ied t hat hed id not w ant any t hing
;
if t hehead of t het reasu ry need ed m oney , hew ou l d know
w heret ogof orit
. A l l t hat heneed ed w ast oknow t hat
if B aronK u b eckshou l d need t oget m oney w it hou t u p -
set t inghisp l ans, hecou l d com et oR ot hschil d f orit
.
B ey ond t his, t hem at t erd id not concernhim
.
" A sm u chasB aronK u b eckw ant s, " R ot hschil d ex -
cl aim ed
. " I w il l got ohim at once, and hecanl eav et he
m oney m arket t om e
. I hav ej u st sent p ricesu p , and d o
y ou know how ? I sent t hem u p
2 J o
b y M et al l iq u esont he
b ou rset ot heam ou nt of
3 0 , 0 0 0 , 0 0 0 f l orinsl "
" I f orb id y ou , " M et t ernichconcl u d ed , " t om akeany
p rop osal t oB aronK u b eck
. I f heneed sy ou hew il l b e
2 3 8

TheR eignof t heH ou seof R ot hschil d


ab l et oap p l y t oy ou
; and if hed oesap p l y t oy ou d o
w hat het el l sy ou 1 "
Theb ou rsew askeenl y sensit iv et ot hesit u at ion
. U nrest
w asint heair, and w av esof ex cit em ent p assed ov erI t al y ,
w heret heseriesof t he1 8 4 8 rev ol u t ionsb eganw it ha
risinginSicil y , inJ anu ary of t hat y ear
. TheV ienna
b ou rsereact ed w it hex t rem enerv ou snesst ot hisnew s,
and t hel ib eral sof al l cou nt ries b T assid u ou sl y ex aggerat ed
t heb ad st at eof t hep u b l icf inancesint hat em p ire, w hich
w asregard ed ast hest ronghol d of react ion
. Thep op u l ace
w ereal read y b eginningt ogot ot heb anksinord ert o
changet heirp ap erint ocoin, and M et t ernichb ecam e
seriou sl y concerned .
H ew asnot d issat isf ied w it ht hegeneral sit u at ionin
t hesecond hal f of J anu ary , 1 8 4 8 , f orM il anw asst il l
com p l et el y t ranq u il , t hou ghanx iou sab ou t t hef inancial
p osit ion
. W henSol om onv isit ed t hechancel l oronJ anu -
ary 2 3 ,
t hel at t er, ashehim sel f say s, sp oket ohim v ery
seriou sl y , and " t ookav ery f irm l ine
. "
5 8
" P ol it ical l y , " hesaid t oSol om on, " t hingsaregoing
w el l , b u t t heb ou rseisinab ad w ay
; I am d oingm y d u t y ,
b u t y ou arenot d oingy ou rs
. I f t hed ev il f et chesm e, he' l l
f et chy ou t oo
; I am l ookinghel l int hef ace
; y ou are
sl eep inginst ead of f ight ing
; y ou rf at eist heref ore
seal ed 1 "
Tot hisat t ackR ot hschil d rep l ied w it ht hem ost p as-
sionat eap ol ogies, and said , " I shal l b u y t om orrow
. I hav e
al read y set t l ed t hat w it hB aronK u b eck
; heand y ou m ay
cou nt onm e! "
" I , " M et t ernichrep l ied , " j u d geb y act ions
. Y ou m ay
b u y t om orrow , b u t I shal l not know w hy y ou d id not b u y
y est erd ay
. I f it w asinord ert ob u y m orecheap l y , I hav e
nooccasiont ob egrat ef u l t oy ou
. "
Thisconv ersat ionshow sp art icu l arl y cl earl y how
cl osel y M et t ernichand Sol om onw ereb ou nd t oget her
f orw eal orw oe
. Thecrit ical ev ent sof t hey ear1 8 4 8 w ere
t of u rnishrem arkab l ep roof of t hisf act
.
TheR ev ol u t ionof 1 8 4 8

2 3 9
Therev ol u t ioninSicil y rap id l y ex t end ed t oN ap l es,
w hereC arl R ot hschil d w asst ay ing, b u t ast heL ib eral
m inist ry inp ow ert herem ad econcessions, it d id not as-
su m ed angerou sp rop ort ionst here . TheG rand D u keof
Tu scany , and K ingC harl esA l b ert of P ied m ont , w hose
d earest d ream it w ast ou nit eI t al y u nd eronescep t er,
f ol l ow ed t hisex am p l e .
Thesp arksof t heset rou b l esw erecarried f rom t he
A p ennineP eninsu l at oF rance, w heret hey st art ed agi-
gant icconf l agrat ion, t hef l am esof w hichw eret osp read
ov ert hew hol eof E u rop e . L ou isP hil ip p e' sru l ehad b e-
com em oreand m oreop p ressiv e ; hehad end ed b y ref u s-
ingessent ial ref orm s, w it ht heresu l t t hat ap ow erf u l
op p osit ionw asf orm ed int hecap it al against G u iz ot ' s
m inist ry . Thef irst d ist u rb ancest hat b rou ght ou t t he
w orkm enand st u d ent soccu rred onF eb ru ary 2 2 ,
1 8 4 8
.
A sev ent henat ional gu ard w ished t hem inist ry t ob ed is-
m issed , t heking, w hohad b ecom eu neasy , accep t ed t he
resignat ionof G u iz ot . Thet roop st hat had b eencal l ed
u p cam eint oconf l ict w it ht hereb el s, and t hef irst shot s
p rod u ced t errib l eex cit em ent .
O nF eb ru ary 2 4 , b arricad esw ereerect ed inal l t he
m ainst reet sof t hecit y ; t henat ional gu ard and l ineregi-
m ent sw ent ov ert ot hereb el s, and it w assoonob v iou s
t hat t hingsst ood v ery il l w it ht heking' scau se . L ou is
P hil ip p ew asb ecom inganol d m an ; inhissev ent y - f if t h
y earhew asscarcel y eq u al t od eal ingw it ht hissu d d en
and u nex p ect ed st orm . A ccord ingt oC ou nt A p p ony i, he
show ed al ackof d ecisionat t hem om ent of d anger, and
com p l et el y l ost hishead . A searl y asF eb ru ary
2 4
hef l ed ,
l eav inghiscap it al and hiscou nt ry t ot hereb el s . Thed ear
ol d A u st rianam b assad orhim sel f had noid eaof w hat
w asreal l y hap p ening ; hehad sent ou t ninehu nd red in-
v it at ionst oab al l f orF eb ru ary 2 3 , and ont hat v ery
m orninghem ad einq u iriesat t hem u nicip al of f icesast o
w het herheshou l d cancel t hearrangem ent s .
ToJ am esR ot hschil d , w hod u ringt hel ast f ew y ears
2 4 0

TheR eignof t heH ou seof R ot hschil d


had achiev ed ap osit ionof p erf ect l y u niq u einf l u ence,
b ot hw it ht hekingand w it hhism inist ers, t hisev ent w as
l ikel ight ningou t of acl earsky . H ecou l d not cred it t he
f act t hat ov ernight changeshad occu rred t hat su d d enl y
d rew aw ay f rom u nd erhisf eet t hew hol eb asisu p on
w hichhisb u sinessand hisH ou serest ed . Theb anker, w ho
had b eenp erhap sm oreint im at el y associat ed w it ht he
regim et hat had b eenov ert hrow nt hanany b od y el se, w as
b ou nd t of eel t hat , int hew ay t hingsw ereshap ing, his
p osit ionw asex ceed ingl y d angerou s . H isf irst t hou ght
w ast oq u it P aris, and P rosp erM enieret el l su st hat he
w asact u al l y seenat t heN ord st at ionont hep oint of
t akingat raint ot hef ront ier . A t t hel ast m om ent , how -
ev er, heap p earst ohav eb eenad v ised not t ol eav eP aris,
ast hisw ou l d p erm anent l y u nd erm inehisp osit ionand
hishonor
.
H et heref orerem ained , w hil ehisw if eand d au ght er,
inast at eof great p anicand ex cit em ent , f l ed t ot heirrel a-
t ionsinL ond on, arriv ingat L ionel ' shou seu nex p ect ed
and u nannou nced . W it ht het errorof t heirex p eriences
st il l v iv id int heirm ind st hey gav eaheart rend ingaccou nt
of how t hey had su d d enl y f al l enf rom t heheight sof
hu m anhap p inessint ot hed ep t hsof w oeand horror
. 5 9
J am esR ot hschil d ' sp rincip al reasonf ord ecid ingt o
rem ainint hecap it al w ast hat L am art ineand A ragohad
gonet ot heJ ew ishb ankerM ichel G ou d chau x , w how as
al sof inancial ed it orof t heop p osit ionp ap er, t heN at ional ,
and had asked him t ot aket hep ort f ol iof orf inance
.
M ichel G ou d chau x , w how asaf riend of R ot hschil d ,
agreed , and t hissof arcal m ed J am est hat hed ecid ed t o
rem aininP aris. M eanw hil eC au ssid iere, t henew p ref ect
of p ol icew hohad b eent hrow nu p b y t heR ev ol u t ion,
hav ingb eenaj ou rnal ist onL aR ef orm e, and hav ing
f ou ght ont heb arricad es, heard t hat R ot hschil d w asm ed -
it at ingf l ight .
N ow t henew p rov isional gov ernm ent had anint er-
est int ry ingt op rev ent t hegreat f inanciersand b ankers
TheR ev ol u t ionof 1 8 4 8

2 4 1
f rom l eav ingt hecit y , f orl iket hekingsb ef oreit , it
need ed m oney and t heserv icesof f inanciers . I t w asal so
general l y said inP arist hat R ot hschil d w assm u ggl ing
hisb u l l ionou t of t hecou nt ry ind u ngcart s, int end ing
af t erw ard st ogof orm al l y b ankru p t . C au ssid iereaccord -
ingl y had J am esw at ched b y ad et ect iv e, and w hent he
ru m orsregard inghisint end ed f l ight grew m orep ersist -
ent heord ered t heb ankert oap p earat t hep ref ect u reof
p ol ice
. J am esw ast heninf orm ed w hy hehad b eenp l aced
u nd ersu rv eil l anceand w ast ol d t hat hew assu sp ect ed of
int end ingf l ight . 8 0 J am esrep l ied : " Sir, I am b el iev ed t o
b eb u ried ingol d , w hereasinp oint of f act I hav enot h-
ingb u t p ap er . M y w eal t hand cap it al consist of secu rit ies
w hichat t hism om ent areof nov al u e . I hav enoint ent ion
of goingb ankru p t , and if I m u st d ieI shal l resignm y sel f ,
b u t I w ou l d regard f l ight ascow ard l y . I hav ew rit t ent o
m y f am il y t osend m ecashsot hat I m ay m eet m y ob l i-
gat ions
. Tom orrow I shal l int rod u cem y nep hew t oy ou ,
w hohasj u st com ef rom L ond onf ort hisp u rp ose . "
C au ssid iererep l ied t hat hew ashap p y t ob eab l et o
assist inreassu ringR ot hschil d ' sf am il y , and heassu red
him t hat hehad not hingt of earf rom t hep eop l eof P aris .
They w erep oorb u t t hey w erehonest , and ev enif t he
w orkm an' sb l ou sew assom et im esw ornb y crim inal st he
new gov ernm ent w ou l d know how t od eal w it hsu ch
p eop l e .
" Tou t encau sant , "
asC au ssid iereob serv esinhism em -
oirs, het henasked R ot hschil d f oral oant ob eap p l ied ;
ashesaid , t op rint ingw orksand ot herinst it u t ions . O n
t hef ol l ow ingd ay J am esR ot hschil d againap p eared at
t hep ref ect u re, b ringingw it hhim hisnep hew w hohad
arriv ed f rom E ngl and , and hed ep osit ed asu m of m oney
w hichw asd iv id ed b et w eent hef am il iesof t heF eb ru ary
com b at ant sw hohad p rot ect ed t hep ref ect u rew it hou t
receiv ingany regu l arp ay . J am esl ef t inav ery m u ch
cal m erst at eof m ind , and hop ingt ob eab l esu ccessf u l l y
t oget t hrou ght hisd if f icu l t p eriod t oo,
2 4 2

TheR eignof t heH ou seof R ot hschil d


Thegeneral f inancial sit u at ionw ascert ainl y d esp erat e .
A shad b eent hecaseini8 3 ot heH ou seof R ot hschil d w as
sad d l ed w it hanenorm ou snu m b erof l oansecu rit iesof
ev ery kind . The2 5 0 , 0 0 0 , ooo- f rancl oan, in
, resp ect of
w hicht heR ot hschil d shad m ad eap rel im inary p ay m ent
of 8 2 , 0 0 o, ooof rancs, " had t ob egiv enu p inv iew of re-
cent ev ent sat t hesacrif iceof t hegu arant eesu m . J am es
d ecl ared t hat t heR ev ol u t ionconst it u t ed f orcem aj eu re,
rel iev inghim of t heob l igat iont of ind t herem aining
1 68 , ooo, ooof rancs .
R ot hschil d al sohel d anenorm ou sq u ant it y of N ord
R ail w ay shares, w hich, ow ingt ot hep anicont heb ou rse,
had f al l enenorm ou sl y l ikeal l t heot hersecu rit ies .
I nsp it eof t heex t ensiv esu p p ort giv enb y t heL ond on
H ou se, w hichw asent irel y u naf f ect ed b y t heseev ent s,
J am eshad t om aket hem ost p rod igiou sef f ort sinord er
t om eet hism ost p ressingob l igat ions, b eingf orced t osel l
l argehol d ingsof 3 % rent esat t herid icu l ou sp riceof
3 3 f rancs, and t herew asw orset ocom e .
TheR ep u b l icw asp rocl aim ed , and t hed est ru ct ion
w rou ght int heTu il eriesand t heP al aisR oy al , w hicht he
m ob p l u nd ered , t hrow ingt hem ost v al u ab l ef u rnit u re
int ot hest reet sw hereit w asb u rnt , gav ereasont of ear
t hat f u rt herou t ragesw ou l d occu r . Thenat ional gu ard
and ot hert roop ssu cceed ed w it hd if f icu l t y inrest oring
ord erint hecent erof t het ow n, w hereu p ont herab b l e
p roceed ed t oat t ackt heu np rot ect ed b u il d ingsint heou t -
skirt s . Them ob ' sragenow v ent ed it sel f u p onal l rail w ay
w orkssu chasst at ionsand b rid ges, t heseb eingcom p l et el y
d est roy ed and b u rned d ow nw it hinarad iu sof t hirt y
m il esof P aris . Thep eop l eregard ed t hesest ru ct u resas
am eansb y w hicht hey w eresp ecu l at iv el y ex p l oit ed .
C oachm en, and su chp ersonsasf eared t hecom p et it ion
of t herail w ay s, p l ay ed ap rom inent p art int heseep isod es
.
O nt hisoccasiont heroy al cast l eat N eu il l y w asal so
d est roy ed , and t heR ot hschil d v il l aat Su resnesw ascom -
p l et el y l oot ed and t henset onf ire
. Therev ol u t ionary p re-
TheR ev ol u t ion
of 1 8 4 8

2 4 3
f ect of p ol icehad p rom ised m oret hanhecou l d d ow it h
regard t oJ am esR ot hschil d .
C ou nt A p p ony iw asq u it eu nab l et orecov erhiseq u a-
nim it y
. O nM archio, w hencom p arat iv eq u iet had su p er-
v ened , hew rot e : 8 2 " W est il l f eel t hat w eared ream ing
.
I t isim p ossib l et ob el iev eint hereal it y of w hat hasb een
goingonarou nd u s
. Thereisnoq u est ionof any l ackof
f oresight , orof aconcert ed at t ack, orof acaref u l l y p re-
p ared consp iracy
. Therehasb eennot hingof t hekind .
A su d d ent hu nd ercl ap , at em p est , inw hichev ery t hing
hasb eent ornd ow n
; it isP rov id ence, G od hasw il l ed
it so
. "
J am esd id not get of f at al l cheap l y
. C au ssid ierehad
t akenm oney f rom him , and Su resnesw asd est roy ed , w hil e
hishop esof t heJ ew ishf inancem inist erG ou d chau x w ere
t op rov ev ain
. L ed ru - R ol l in, m inist erof t heint eriorin
t hep rov isional gov ernm ent , w how asset t ingu p nat ional
w orkshop s, kep t send inginf reshd em and sf orm oney t o
t hef inancem inist er
ea
u nd erev ery conceiv ab l ep ret ex t ,
u nt il t hel at t erresigned ind isgu st af t erhol d ingof f ice
f oraf ew d ay s .
A ccord ingt ot hest at em ent sof aR u ssiansecret agent
w how asaney ew it nessof t heR ev ol u t ioninP aris, L ed ru -
R ol l in, f irm l y d et erm ined t ost op at not hinginord ert o
get m oney , w ent t oJ am esR ot hschil d
. H et ol d t heb anker
t hat if hed id not giv ehim 2 5 0 , 0 0 0
f rancsreq u ired f or
p at riot icp u rp oses, hew ou l d send io, ooow orkm enint o
t heR u eL af f it t et henex t d ay t od est roy t heP al aisR ot hs-
chil d and t akev engeanceonhim
. J am esisst at ed inhis
p anict ohav ep aid t hem oney , w hichw ast hu sp ract ical l y
ex t ort ed at t hep oint of t hep ist ol . TheR u ssianrel at ed
t hat af ew d ay sl at erL ed ru - R ol l inrep eat ed t heex p eri-
m ent , and su cceed ed u nd erf u rt hert hreat sinex t ort ing
anad d it ional 5 oo, 0 0 o
f rancs .
W hat ev erm ay b et heact u al t ru t hof t hisst ory , t here
isnod ou b t t hat J am eshad t op ay heav il y inord ert o
secu rehisp ersonal saf et y
.
2 4 4

The R eign of t he H ou se of R ot hschil d


TheR ev ol u t ionsoonaf f ect ed t hew hol eof E u rop e .
W it ht hef al l of L ou isP hil ip p et heR ot hschil d shad l ost
oneof t hem ost essent ial su p p ort sonw hicht heirp ow er
inE u rop ew asb ased . TheirP arisH ou se, w hichhad
l at el y b eensof l ou rishingand p ow erf u l , ov ershad ow ing
al l t heot hers, had ov ernight b eenp l u nged int ot hem ost
seriou sem b arrassm ent ; it had t op roceed t oreconst ru ct
it sp osit ionf rom t hest art w it ht henew p ow ers, m aking
u seof su chconnect ionsasit m ight al read y hav ef orm ed
w it hany of t hosew hohad now seiz ed p ow er
. I t w asonl y
am at t erof d ay s, how ev er, b ef oreast il l m orep ow erf u l
and im p ort ant su p p ort of t hegigant icst ru ct u reerect ed
b y t hef iv eb rot hersgav ew ay
.
Thenew sf rom P arisp rod u ced t hegreat est const erna-
t ionint heA u st rianem p ire . M et t ernichreceiv ed t hef irst
new sof G u iz ot ' sf al l f rom Sol om onR ot hschil d , w ho
had had at el egram f rom hisb rot her . H ew ou l d not b e-
l iev eit , and w henshort l y af t erw ard st heR u ssiancharge
d ' af f airescal l ed
1 1 4
and conf irm ed it heex cl aim ed ind is-
m ay , " E hb ien, m oncher, t ou t est f ini . "
H est il l hop ed
t hat t hem onarchy w ou l d su rv iv e ; b u t w henhereceiv ed
f rom Sol om ont hef u rt herd ism al new st hat t heR ep u b l ic
had b eenp rocl aim ed inF rance, t heaged chancel l oris
said t ohav ecol l ap sed inhisarm chairind esp air .
Thep op u l aceinV iennaand A u st riageneral l y b ecam e
w il d l y ex cit ed . Theim p erial gov ernm ent w asinu nd at ed
onal l sid esw it hp et it ions, p rogram sof ref orm , and
u rgent ap p eal sof ev ery kind
. Therew ereinst ancesof
p ap erm oney not b eingaccep t ed
. Trad eand ind u st ry
w ereat ast and st il l , and ev ery b od y had t hef eel ingt hat
at errib l est orm w asab ou t t ob u rst
. N ot hinghad y et
occu rred w hennew sw asreceiv ed ab road t hat P rince
M et t ernichhad ret ired . I t
is int erest ingt onot et hat it
w assom em em b ersof t hef am il y R ot hschil d w hosp read
t henew sat arecep t iongiv enb y L ad y P al m erst onon
M arch4 , 1 8 4 8 , t hat t hey had heard f rom V iennat hat
P rinceM et t ernichhad m ad eu p hism ind t oresign
his
TheR ev ol u t ionof 1 8 4 8

2 4 5
of f ice . TheA u st rianrep resent at iv e, w how asp resent , w as
ov erw hel m ed w it hq u est ions, b u t hegav eit ashisop in-
iont hat it w asam erest ock- ex changem aneu v er . " Y et
w hent hecharged ' af f aires' rep ort ont hisincid ent ar-
riv ed at V ienna, M et t ernichhad act u al l y ceased t ob e
chancel l or .
TheE st at esw eret om eet onM ond ay , M arch1 3 . The
w ord ingof ap et it ionw asb eingd iscu ssed w henad ep u -
t at ionof st u d ent sru shed in, t oreit u p , and annou nced
t heex t ensiv ew ishesof t hep eop l e . K not sof p eop l ecol -
l ect ed int hest reet s, w hereorat orsharangu ed t hem .
" D ow nw it hM et t ernichI " w ast heu niv ersal cry
.
A crow d of p eop l ep assed b ef oret hechancel l or' sof f ice
shou t ingt hat t hep rincem u st b ed ism issed . St onesare
t hrow nat t heA rchd u keA l b recht ; t hem il it ary op enf ire .
Thef irst v ict im sf al l , t heex cit em ent sp read sm oreand
m ore. B arricad esarep u t u p cl oset ot heR ot hschil d
hou se, w hichisnot f arf rom t hearsenal . Sol om onanx -
iou sl y w at chest hegrow ingd ist u rb ancesf rom t hew in-
d ow sof hishou se . Thecit iz engu ard sou nd t heal arm and
f l y t oarm s
. Theex cessesof t hep op u l aceint hest reet s
increase . I nt hep al acet hereisanx iou sind ecision . The
E m p erorF erd inand cannot u nd ert and w hat ishap p en-
ing. TheA rchd u keJ ohnal onereal iz esw hat ishap p ening
and keep shishead . H e real iz est hat M et t ernichm u st b e
u rged t oresignand u nd ert akest hishard d u t y
. Thechan-
cel l orresignsat hal f p ast eight ont heev eningof M arch
1 3 . H ou sesarel it u p . H eret herearef est iv al il l u m ina-
t ions, w hil et heret hey aref ight ingont heb arricad es . H ere
m enareb eingshot d ow n, and t herep eop l earerej oicing
ov ert hep rocl am at ionof t hef reed om of t hep ress .
A t six o' cl ockint heev eningof M arch
1 4 , P rinceM et -
t ernichand hisf am il y f l ed f rom t hecit y
. Sol om onR ot hs-
chil d had not v ent u red t ol eav ehishou se . A m essenger
f rom M et t ernichcal l ed onhisl oy al f riend and b anker
t oinf orm him of M et t ernich' sd ecisiont ol eav eA u st ria
.
B u t asw asgeneral l y t hecase, M et t ernichw asshort of
2 4 6

TheR eign, of t heH ou se of R ot hschil d


read y m oney
. A not herm anw ou l d hav eu sed t ohisow n
ad v ant agehisb ou nd l essp ow er, and hisau t ocrat iccon-
t rol w hichex t end ed al sot ot hest at e' sf inances, sot hat
hew ou l d not hav eb eenf orced t ob orrow hisj ou rney
m oney now t hat hew asf orced t of l ee . R ot hschil d w as
gl ad t od ot hef al l enst at esm anaf riend l y t u rnand sent
him at hou sand d u cat st hrou ght hearchit ect R om ano
. "
A ssoonashereceiv ed t hem oney t he' m anw hoaf ew
hou rsb ef orehad b eent hem ost p ow erf u l p ersonint he
im p erial d om inion, l ef t t hecit y ind isgu ise, carry ing
m oney f orhisj ou rney and aR ot hschil d l et t erof cred it .
Thingshad al read y gonesof art hat onhisj ou rney
t hrou ghG erm any M et t ernichw asf orced , f ort hesakeof
hisp ersonal saf et y , t od isgu isehisid ent it y asf arasp os-
sib l e . O nM arch 2 0
f orinst ancet herew asaru m orin
F rankf ort t hat t hechancel l orhad arriv ed , and w asst ay -
ingat t hehou seof t heA u st riangeneral C ou nt N ob il i .
Thou sand sof p eop l eim m ed iat el y col l ect ed ou t sid et he
general ' shou seshou t ing,
" P ereat M et t ernichl "
Thegen-
eral cam eb ol d l y t ot hew ind ow , annou nced t hat t he
p rincew asnot st ay ingw it hhim , and t hend rov eq u it e
al oneat aw al kingp acet hrou ght hecrow d st oare-
cep t ionat B aronA m schel M . v onR ot hschil d ' s . The
crow d t henw ent t ot heH ot el z u m R om ischenK aiser
w heresim il arscenesw ereenact ed
. W hent hey had con-
v inced t hem sel v est hat M et t ernichw asnot t hereeit her,
t hey p roceed ed t ot hehou seof t heaged B aronA m schel
M ey erv onR ot hschil d , w hol iv ed cl oseb y , and d em and ed
m oney . A m schel M ey er, how ev er, w asnot at hom eand
t hecrow d d isp ersed .
Sol om onR ot hschil d had rem ained at V ienna, w here,
af t ert heex cit ingd ay sof M arch 1 3
and
1 4 ,
t hingshad
som ew hat q u iet ed d ow n, b u t hew ast errib l y u p set b y
t heseev ent s . A p art f rom b eingsoint im at el y connect ed
w it hM et t ernichinal l t heaf f airsof l if e, hisp ersonal
f riend ship w it ht hest at esm anhad b eensocl oset hat he
f el t not onl y t het hreat t ot hew el f areof hishou se, b u t
TheR ev ol u t ionof . 1 8 4 8

2 4 7
p erhap sst il l m orekeenl y t hehu rt t ohisp ersonal f eel -
ings . M el anchol y and d isheart ened , hed ecid ed t ow ait
aw hil eand seehow m at t ersw ou l d d ev el op .
M eanw hil e t he rev ol u t ionary m ov em ent sp read
t hrou ghou t t hecap it al sof E u rop e . O nM archi8 t here
w asarisinginB erl in . Therew asst reet f ight ing, b arri-
cad es, and general p anic . W hent henew sof t hesehap -
s p eningsreached F rankf ort , w heret herehad al sob een
u nrest , and w hered em and sf oreq u al cit iz enship w it hou t
d ist inct ionof creed had b eenp u t f orw ard , t hem ob
sm ashed t hew ind ow sof t heP ru ssianm inist er, and of
ol d A m schel M ey erR ot hschil d , ast heconsu l - general of
t heK ingof P ru ssiaw hohad had hisp eop l eshot d ow n .
A m schel M ey erR ot hschil d w ast heref oreal soat t he
cent erof ad angerz one, and at ap l aceof consid erab l e
p ol it ical im p ort ance, f ort hef oreru nnerof t heN at ional
A ssem b l y , w hichw ast op rov id eanew u nif y ingcent ral
au t horit y f ort hew hol eof G erm any , m et at F rankf ort .
Thisf act necessaril y su ggest ed al l kind sof p ossib il it ies
t ot heof f icial b ankerof t heG erm anF ed erat ionif t he
new au t horit iesw erecl ev erl y hand l ed , and if t hegam e
w erenot sp oil ed w it ht hem at t hest art .
N at han' ssonsinE ngl and , and t hef ort u nat ecou nt ry
w heret hey w erel iv ing, w ereal onesp ared t herev ol u -
t ionsand t heconf u siont hat f ol l ow ed u p ont hem . They
w ereaf f ect ed onl y ind irect l y b y t hegeneral col l ap se of
t heb ou rses, and w eret heref oreab l et orend erm ost ef -
f ect iv eassist ancet ot heR ot hschil d f irm st hat w eret hreat -
ened ont heC ont inent
.
C arl R ot hschil d at N ap l esw asat t hecent erof t he
rev ol u t ionary d ist u rb ancest hat had ov erw hel m ed I t al y .
H ehad som et im ep rev iou sl y d onehisb est t osev ert hose
int im at el inksw it hA u st ria, t hrou ghw hichhehad act u -
al l y com et oN ap l es, b u t hehad cl u ngt ohisassociat ion
w it ht heconserv at iv eK ingd om of N ap l es, and accord -
ingl y su f f ered f rom t hed if f icu l t iesw hicht heR ev ol u -
t ioncau sed t ot hat kingd om . I n t heN ort hof I t al y V enice
2 4 8

TheR eignof t heH ou seof R ot hschil d


rev ol t ed against t hed om inionof A u st riad irect l y af t er
t herev ol u t ioninV ienna, w it ht heresu l t t hat t heim -
p erial of f icial sresigned , and aR ep u b l icw asp rocl aim ed
.
Thisw asaseriou sb l ow t oSol om onR ot hschil d , w hohad
sorecent l y concl u d ed anim p ort ant agreem ent f orsal t
p it sw it ht hat cit y
. L om b ard y al sorev ol t ed , af act w hich
m ad eSol om onseriou sl y anx iou sab ou t t hecap it al
am ou nt ingt o 4 0 0 , 0 0 0
f l orinsw hichhehad inv est ed in
V enice, inf u l l conf id encet hat L om b ard y w ou l d cont inu e
u nd erA u st riand om inion
. 8 7
TheR ot hschil d u nd ert akingsw eret hreat ened t hrou gh-
ou t t hel engt hand b read t hof t hem onarchy , and Sol om on
ap p l ied hisef f ort st osav ingw hat cou l d b esav ed
. H e
t heref oreb egged t hem inist erf orf oreignaf f airson
J u ne1 5 , 1 8 4 8 , inv iew of t heru m ort hat t herew asev ery
p rosp ect of L om b ard y b eingp acif ied w it hinashort t im e,
t oseet hat hed id not su f f erl oss, hav ingregard t oA u s-
t ria' sw el l - know ncaref ort heint erest sof hersu b j ect s,
and of im p ort ant ind u st rial u nd ert akings
.
H ew asreassu red and giv enal l kind sof p rom ises, b u t
t heau t horit ieshad ot hert hingst oat t end t ot hanSol o-
m on' sb u siness, and M et t ernich' sab sence' m ad eit sel f
not iceab l y f el t , asat t hem ost crit ical m om ent shehad
al w ay shad t im ef orSol om onand consid ered hisw ishes
and su ggest ions
. Sol om onb ecam ep ainf u l l y aw areof t he
f u nd am ent al changeinhisp osit ion, w hichhad b eenso
d ep end ent u p onhisex cel l ent rel at ionsw it ht hem ight y at
V ienna
. H ehad su f f ered inf act j u st ashisb rot herJ am es
had su f f ered inP aris .
Thel at t erhad now noeasy t ask
. Thet errib l ecol l ap se
of F eb ru ary had el im inat ed t heking, w how as' sof riend l y
t ohim , and t hem inist ersw it hw hom hew asonsu ch
good t erm s
. O t herf riend st oohad l ef t t hecap it al , in-
cl u d ingt heA u st rianam b assad orC ou nt A p p ony iw it h
hishal f - m il l ionf l orinsof d eb t s, and H iib ner, t hep ro-
v isional su b st it u t e, w hot em p oraril y occu p ied hisp osi-
t ion, w asf arf rom congenial t oJ am es
. H isw asareserv ed
TheR ev ol u t ionof 1 8 4 8

2 4 9
and u nf riend l y nat u re ; hehad p ronou nced ant i- Sem it ic
t end encies, and w asnot at al l incl ined t oaccord R ot hs-
chil d t hep osit ionw it hregard t ot heA u st rianem b assy
t hat hehad enj oy ed int het im eof A p p ony i .
I t ist ru et hat am ongnew p ersonsinau t horit y J am es
f ou nd af ew f riend sof f orm erd ay s, and asheknew how
t oad ap t him sel f t ot henew regim e, and insp it eof his
f u nd am ent al l y O rl eanist sy m p at hiescaref u l l y ref rained
f rom p rov okingit inany w ay , hisop p ort u nist nat u rep ro-
v id ed occasionf orarriv ingat aconcil iat ory u nd er-
st and ing .
M eanw hil eSol om oninA u st riahad againb eenex p e-
riencingd ist u rb ances . Theem p irew asinsad st rait s, in
H u ngary and I t al y , inB ohem ia, and int hecap it al ; re-
b el l ionw asint heair
. Thed ef eat of t hearm y of C harl es
A l b ert , K ingof Sard inia, onJ u l y 2 5 , at C u st oz z a, b y
t heaged f iel d - m arshal C ou nt R ad et z ky , rel iev ed t he
sit u at ion . I t al y ' shop ed u ringt heset im esof st ressw as
t hat F rancew ou l d int erv ene, and t hat Sard iniaw ou l d
assist heragainst A u st ria .
Therew asconsid erab l ef earat V iennal est rep u b l ican
F ranceshou l d t akesu ch a st ep , and t heA u st riant em p o-
rary charged ' af f airesv onThom , w hohad serv ed u nd er
A p p ony iand hel d of f iceu nt il H iib ner' sarriv al , and w ho
knew J am esR ot hschil d w el l , w asinst ru ct ed t orep ort on
F rance' sat t it u d e . Thef oreignem b assies, p art icu l arl y
t hoseof t heconserv at iv eP ow ers, had , how ev er, p ract i-
cal l y noinf l u enceinP arisat t hist im e, and t hey got no
new s . J am esont heot herhand w asal read y onsu chgood
t erm sw it ht henew f inancem inist er, G arnier- P ages, t hat
hef req u ent l y w ent t oseehim , and w ast henab l et orep ort
t ov onThom t hat t hem inist erhad t ol d him t hat t hegov -
ernm ent had noint ent ionw hat ev erof int erv eningin
I t al y , and t hat hehim sel f w ou l d d oev ery t hingp ossib l e
t op rev ent su chast ep f rom b eingt aken . "
I nt hism at t erR ot hschil d cont inu ed t ob ev onThom ' s
sou rceof inf orm at ion . J am esR ot hschil d ' sp osit ionin
2 5 0

TheR eign
of t heH ou seof R ot hschil d
P arisb ecam esom ew hat m oresecu re, b u t t herew asno
p rosp ect of aret u rnof p ol it ical t ranq u il l it y
. TheR ad i-
cal sand Social ist shad est ab l ished t heso- cal l ed " nat ional
w orkshop s, " inw hichp ol it icsw asm u chm orep op u l ar
t hanw ork, and w hichsoonb ecam eanint ol erab l ef inan-
cial b u rd enasw el l asap ol it ical d anger .
Seriou sd ist u rb ancesagainb rokeou t ont hegov ern-
m ent ' sat t em p t ingt oresign
. A f t ert hreed ay s' st reet f ight -
inginJ u net heenerget icw arm inist er, L ou isE u gene
C av aignac, w how assincerel y at t ached t ot herep u b l ican
cau se, em erged v ict oriou s
.
H eassu m ed t hep osit ionof ad ict at or, and w asnom -
inat ed p resid ent of t hecou ncil of m inist ersb y t heN a-
t ional A ssem b l y
. J am eshad b eenonex cel l ent t erm sw it h
him of ol d , and hesu cceed ed , at t heex p enseof consid -
erab l esu m sof m oney , inm akinghim sel f u sef u l t ot he
general , and t ot herep u b l icancau se, sot hat hew assoon
asgood arep u b l icanashehad b eenam onarchist
.
J am es' sskil l inad j u st inghim sel f t oany conceiv ab l e
circu m st ancesim p ressed ev ent heex t rem eL ef t , and sev -
eral at t em p t sw erem ad et ocl aim him f ort heend sof
t heW orkers' p art y
.
" Y ou areaw ond er, sir, " w rot et heed it orof t heu l t ra-
rad ical Tocsind esTrav ail l eu rs
; " insp it eof hisl egal
m aj orit y L ou isP hil ip p ehasf al l en, G u iz ot hasd isap -
p eared , t heconst it u t ional m onarchy and p arl iam ent ary
m et hod shav egoneb y t heb oard
; y ou , how ev er, areu n-
m ov ed 1 . . .
W hereareA ragoand L am art ine? They
aref inished b u t y ou hav esu rv iv ed
. Theb ankingp rinces
aregoingint ol iq u id at ionand t heirof f icesarecl osed
.
Thegreat cap t ainsof ind u st ry and t herail w ay com p a-
niest ot t er
. Sharehol d ers, m erchant s, m anu f act u rers, and
b ankersareru ined enm asse
; b igm enand l it t l em enare
al ikeov erw hel m ed
;
y ou al oneam ongal l t heseru insre-
m ainu naf f ect ed
. A l t hou ghy ou rH ou sef el t t hef irst v io-
l enceof t heshockinP aris, al t hou ght heef f ect sof R ev o-
l u t ionp u rsu ey ou f rom N ap l est oV iennaand B erl in,
TheR ev ol u t ionof 1 8 4 8

2 5 1
y ou rem ainu nm ov ed int hef aceof am ov em ent t hat has
af f ect ed t hew hol eof E u rop e. W eal t hf ad esaw ay , gl ory
ishu m b l ed , and d om inionisb roken, b u t t heJ ew , t he
m onarchof ou rt im e, hashel d hist hrone ; b u t t hat isnot
al l . Y ou m ight hav ef l ed f rom t hiscou nt ry w here, int he
l angu ageof y ou rB ib l e, t hem ou nt ainsskip ab ou t l ike
ram s . Y ou rem ain, annou ncingt hat y ou rp ow erisind e-
p end ent of t heancient d y nast ies, and y ou cou rageou sl y
ex t end y ou rhand t ot hey ou ngR ep u b l ics . U nd ism ay ed
y ou ad heret oF rance .
. .
y ou arem oret hanast at es-
m an, y ou aret hesy m b ol of cred it . I sit not t im et hat t he
b ank, t hat p ow erf u l inst ru m ent of t hem id d l ecl asses,
shou l d assist int hef u l f il m ent of t hep eop l e' sd est inies?
W it hou t b ecom ingaM inist ery ou rem ainsim p l y t he
great m anof b u sinessof ou rt im e . Y ou rw orkm ight b e
m oreex t ensiv e, y ou rf am e( and y ou arenot ind if f erent
t of am e) m ight b eev enm oregl oriou s . A f t ergainingt he
crow nof m oney y ou w ou l d achiev et heap ot heosis . D oes
t hat not ap p eal t oy ou ? C onf esst hat it w ou l d b eaw ort hy
occasionif oned ay t heF renchR ep u b l icshou l d of f ery ou
ap l aceint heP ant heon
1 "
J am eshad t heref oresu cceed ed ingainingt oal arge
ex t ent t heresp ect of t hecircl esof t heex t rem el ef t . M ore-
ov er, C av aignachad recal l ed f rom A l giersG eneral
Theod u l eC hangarnier, w how asanol d f riend of t he
H ou seof R ot hschil d , and ap p oint ed him com m and er- in-
chief of t hew hol enat ional gu ard , w how ereresp onsib l e
f orm aint ainingt hesaf et y of t hecap it al . H ew asnot
so
w hol e- heart ed arep u b l icanasC av aignac, and sw ay ed
b et w eenO rl eanist sand ap art y w hichw asint end ed t o
com b ineL egit im ist sand O rl eanist s, hism ainaim b eing
t osecu reap rom inent p osit ionf orhim sel f . R ot hschil d
w ast heref oreinap osit iont ocarry oncom f ort ab l y eit her
w it ht heR ep u b l icorw it ht herest ored m onarchy ; b u t
w hat act u al l y hap p ened w assom et hingq u it ed if f erent .
O nreceiv ingnew sof t heou t b reakof t heR ev ol u t ion
of F eb ru ary 2 8 , L ou isN ap ol eonhad hu rried t oP aris
2 5 2

TheR eignof t heH ou seof R ot hschil d


" t op l acehim sel f u nd ert hef l agof t heR ep u b l ic, " b u t
l at eronhehad ret u rned t oL ond onw it hou t of f eringhim -
sel f asacand id at ef ort hesu f f ragesof t heN at ional A s-
sem b l y . A t t hef inal el ect ionsinSep t em b er, how ev er, t he
p rincew asel ect ed int hreed ep art m ent s, and al soin
C orsica . H isnam ew asap rogram init sel f
. I nt hegeneral
conf u sionhisnam e, w it hit sassociat ionsw it ht hem ost
sp l end id p eriod of F renchhist ory - W at erl oohad b een
f orgot t en- gav ehop e ; f ort hou sand sand t ensof t hou -
sand st henam eof N ap ol eonw ast hesy m b ol of st rengt h,
sp l end or, ord er, au t horit y , and gl oire .
A f t ert heJ u nef ight ingconsid erab l esect ionsof t he
p op u l aceb ecam einf l u enced p ol it ical l y b y t hesent im ent s
of t heR ight
. Therew asakeend esiref orp eaceand
ord er, and su d d enl y t heim m ort al nam eof " N ap ol eon"
b ecam et heid ol of t hep eop l e .
J am eshad w at ched t hisd ev el op m ent w it hm ix ed f eel -
ings . H erem em b ered t hep art heand hisb rot herhad
p l ay ed u nd erN ap ol eonI , and hecou l d not b u t ref l ect
t hat t hegreat m an' snep hew knew p erf ect l y w el l how t he
F rankf ort J ew shad show nt hegam et hey w erep l ay ing
af t ert hef al l of t heem p eror, and had gonew it hf l y ing
col orsint ot hecam p of t hev ict orsand of t heret u rning
B ou rb ons, t hereaf t erp u rsu ingt heirb u sinesshap p il y and
m agnif icent l y u nd erhighp rot ect ion, w hil e, t hegreat em -
p erorw asp iningaw ay at St . H el ena .
L ou isN ap ol eonw ou l d not hav eb eenam an
; hew ou l d
cert ainl y not hav eb eenN ap ol eonichad henot w ished
t ot akej u st v engeanceont hosem enort heird escend ant s
;
at any rat ehecou l d not b eex p ect ed t oshow t hem any
m arked f riend l iness .
J am eshad l ef t P arisim m ed iat el y af t erN ap ol eon' s
el ect iont ot heN at ional A ssem b l y , and j u st at t hist im e
G eneral C av aignacw asd iscu ssinghow t ru erep u b l icans
shou l d m eet t henew d angerw hichhad arisenint he
p ersonof N ap ol eon . J am eshad arriv ed inB ru ssel s,
w hichhew asv isit ingonm at t ersof b u siness, in
a st at e
E m p erorN ap ol eonI l l
TheR ev ol u t ionof 2 8 4 8

2 5 3
of great anx iet y . H ed iscu ssed t hep osit ionw it ht heA u s-
t rianm inist erC ou nt W oy na, w how rot ehom erep ort ing
t hat , hav ingl ent su chconsid erab l esu m st ot heR ep u b l ic,
B aronR ot hschil d w asasrep u b l icanashehad b een
m onarchist .
" A t t hep resent m om ent , " t hecou nt rep ort ed , " d ecent
p eop l einF ranceseet heironl y hop eof sal v at ioninf reel y
and u nreserv ed l y su p p ort ingt hep resent head of t he
G ov ernm ent [ C av aignac]
. H eal onep ract ical l y int he
w hol eof F rancet reat st heaf f airsof t heR ep u b l icseri-
ou sl y and conscient iou sl y . A sf arasP al m erst oniscon-
cerned , " t hem inist ercont inu ed , " t hecl ev erb ankerd oes
not u nd erst and , how ev erR ep u b l icanhem ay say heisat
t hem om ent , t hat heisreal l y asb l ind as
al l t hat . H esaid
t om et hat in t hep resent st at eof m ind of F rance, w it h
B onap art em akingp rogressonal l sid es, if E ngl and d oes
not p rev ent F rancef rom p ossib l eint erv ent ioninI t al y , on
w arb eingact u al l y d ecl ared L ou isN ap ol eonw il l f ort h-
w it hb ecarried shou l d er- high ; I t al y hav ingb eend raw n
int ot hew ar, t hef irst m easu reb ot hof R ep u b l icanand
of I m p erial B onap art ist sw il l b eagaint od ecl aret he
C ont inent al b l ockad eagainst E ngl and . "
J am esR ot hschil d nex t cal l ed ont heK ingof t heB el -
gians, L ou isP hil ip p e' sson- in- l aw , w hoal sol ooked
askanceat L ou isN ap ol eon' srise . W hent heR ev ol u t ion
b rokeou t inP aris, K ingL eop ol d had t hou ght f ora
t im et hat hem ight incu rasim il arf at et ot hat of his
f at her- in- l aw , and b ecom p el l ed t ol eav et hecou nt ry . I n
ord ert heref oret ob esecu re
. against al l ev ent u al it ieshe
had rem it t ed asu m of 5 , 0 0 0 , 0 0 0 f rancst ot heH ou seof
R ot hschil d , w hichw ast ob ep l aced at hisd isp osal if he
w ereact u al l y com p el l ed t ol eav et hecou nt ry . I t w ason
t hism at t ert hat J am eshad gonet oB ru ssel s . W hent he
cou nt ry set t l ed d ow n, and m at t ersd id not hap p enasw as
f eared , t hekingl ef t t hissu m w it ht heH ou seof R ot hs-
chil d , and int hecou rseof y earsat com p ou nd int erest it
increased b y 1 8 66t ot hep rod igiou ssu m of 2 0 , 0 0 0 , 0 0 0
2 5 4

TheR eignof t heH ou se


of R ot hschil d
f rancs, w hichf orm ed t heb asisof t hegreat inheri-
t ancew hichw ast ocom et ot heu nf ort u nat eE m p ress
C harl ot t eof M ex ico . " J am esret u rned f rom B ru ssel st o
P aris" t op l u ngeagaincou rageou sl y int ot hesou rceof
al l t het rou b l est hat arem akingE u rop eu nhap p y , " as
C ou nt W oy nast at ed
. " H ew asgreat l y d ism ay ed t osee
t hat hisf riend s, t heD ict at orC av aignacand G eneral
C hangarnierw erel osingm oreand m oregrou nd t oL ou is
N ap ol eon . A t t heb eginningof N ov em b er, 1 8 4 8 , t hesit u -
at ioninP arisw asagainex ceed ingl y st rained and , as
H errv onThom rep ort ed ,
7 1 t hegeneral op inioninP aris
w ast hat anot herb igrev ol u t ionw asim m inent .
" F earand u nrest , " t hecharged ' af f airesrep ort ed , " are
general ; b u sinessand econom icint erest saresu f f ering
acu t el y . Thesl u m p insecu rit ieshasassu m ed al arm ing
p rop ort ions, and y est erd ay t herew asact u al l y aru m or
t ot heef f ect t hat t heH ou seof R ot hschil d w asgoingint o
l iq u id at ion . "
Thingsw erenot nearl y asb ad asal l t hat , b u t it m ad e
R ot hschil d ex ceed ingl y u neasy t oseehow t hecau seof
P rinceL ou isN ap ol eonw asad v ancingw it henorm ou s
st rid est hrou ghou t t hecou nt ry
. H ew asb it t erl y d ism ay ed
t oreceiv et henew sonD ecem b eriot hat L ou isN ap ol eon
had b eenel ect ed P resid ent of t heR ep u b l icb y av ot eof
f iv eand ahal f m il l ions, w hereasC av aignachad p ol l ed
onl y oneand ahal f m il l ion, and C hangarnieronl y f if t y
t hou sand v ot es .
H ed ecid ed t om aket heb est of t hesit u at ion, and t o
u segreat rest raint and cau t ioninex p ressingany p ol it ical
op inions
. L ou isN ap ol eon' sp osit ionw asnot b y any m eans
secu rey et , b u t hehad m ad econsid erab l ep rogressint hat
d irect ion .
W hil et heP arisH ou sew asgrav el y concerned w it hre-
gard t oit sf u t u re, and t hef u t u reof t hecou nt ry inw hich
it w asest ab l ished , af f airsint heA u st rianem p irew ere
b ecom ingm oreand m orechaot ic
. W hil eA u st riahad
b eenv ict oriou sinI t al y , H u ngary w asnow incom p l et e
TheR ev ol u t ionof 1 - 8 4 8

2 SS
rev ol t , and K ossu t hw assp eakingt ohiscou nt ry m en, w ho
w ered ru nkw it hnat ional ist icid easof t hecom p l et ein-
d ep end enceand l ib ert y of H u ngary . M ost of t het roop s
had l ef t V iennaf orI t al y and H u ngary , onl y aw eakgar-
risonb eingl ef t b ehind int hecap it al it sel f . I nst igat ed b y
H u ngary , t hed em ocrat sinV iennaex p l oit ed t hesecon-
d it ionst om akeanot herb l ood y rising .
O nO ct ob er6, 1 8 4 8 , ot hert roop sand m enof t hena-
t ional gu ard w hod id not w isht ogot oH u ngary m u t inied
and j oined t hereb el s
. Theshou t ingm ob , d ru nkw it hv ic-
t ory , p roceed ed t ot he ' w ar- of f iceb u il d ingw heret he
m inist ry w asm eet ing, and t hreat ened t ol y ncht hem in-
ist ers . They , how ev er, al l escap ed , w it ht heex cep t ionof
t heu nf ort u nat ew arm inist er, C ou nt L at ou r, w how as
cru el l y m u rd ered , hiscorp seb einghu ngst arknaked t o
al am p p ost , w heret hem ob cont inu ed t oinsu l t and b eat
it . A f t ert hism u rd ert hecrow d , w hichw asq u it eou t of
hand , p roceed ed t ot hearsenal w hichisnow t hecent ral
f irest at ion, and w hicht henhad it sf ront ageont heW ip -
p l ingerst rasseand R enngasse, b eingt heref oreq u it ecl ose
t ot heR ot hschil d hou se .
A t sev eno' cl ockint heev eningt hey b egant ol ay siege
t oit
. Them ob ransacked and occu p ied t heW ind isch-
graet z P al aceand t heR ot hschil d hou seint heR enngasse .
F rom t heroof of t hel at t ert hey shot at t heG renad iers'
q u art ersinsid et hearsenal
. " Thisf ight ingw ent on
t hrou ghou t t henight , t hearsenal b einghand ed ov eron
t hef ol l ow ingd ay t oacom m issionap p oint ed b y t he
R eichst ag.
Thew hol eof V iennaw asinap anic . Thecou rt l ef t
t heresid enceand f l ed t oO l m u t z . Thef u rt herd ist u rb -
anceshad su rp rised Sol om onR ot hschil d inhishou sein
t heR enngasse, and hef l ed . H enow sorrow f u l l y recal l ed
M et t ernich' sw ord s : " I f t hed ev il f et chesm e, hew il l
f et chy ou t ool " D u ringt hel ast f ew m ont hshehad im -
agined t hat t hechancel l orw ou l d p rov em ist aken, f or
M et t ernichhad f al l enand hehad rem ained .
2 5 6

TheR eignof t heH ou seof R ot hschil d


N ow , how ev er, t hat hisow nhou sehad b eenl oot ed ,
and had b eenm ad eab aseof op erat ionsf oranat t ackon
t hearsenal cl oseb y , hef el t com p l et el y b rokend ow n, and
d esired onl y onet hing, t oget aw ay f rom V ienna . 7 3
H ef irst p roceed ed t oconceal him sel f int heneighb or-
hood of V iennau nt il heshou l d hav eb rou ght hissecre-
t ary , G ol d schm id t , hisf am il y , and t hem ost im p ort ant
p ap ersand m oney sint oap l aceof saf et y .
TheG ol d schm id t shad f l ed b y b oat t oSt einnear
K rem s, b u t t hef at herof t hef am il y ret u rned t oV ienna,
soast ob eab l et ohel p if Sol om onR ot hschil d need ed him
ont hej ou rney , and t oassist in get t ingt hem oney and
secu rit iesaw ay . B u t it w asnol ongersosim p l et oent er
V iennaw it hou t b eingat t acked . G ol d schm id t hit u p on
t heid ea
7 4
of hiringasm al l cart and m il kcansf rom his
l and l ord at D ob l ing, w hohad ad airy , and ent ered t he
t ow nd isgu ised asam il km an . H ew ascl osel y ex am ined at
t heN u ssd orf erL inieand at t heSchot t ent or, b u t hem an-
aged t oreachR ot hschil d ' sof f icesaf el y , w herehef ou nd
al m ost ev ery t hingint act inhu ge, w el l l ocked and hid d en
cof f ers .
R ot hschil d ' sb ooks, hiscashand secu rit ies, w erep acked
u p inam om ent , and sent t ot heN at ional B ank, w here
t hey w eret akenov erand b rou ght int osecu rit y . This w as
onO ct ob erio,
1 8 4 8
. G ol d schm id t had not m et Sol om on
again . Theb aronhad av ail ed him sel f of anop p ort u nit y
of t rav el ingt oF rankf ort - on- t he- M ain . H ew asnev ert o
seeV iennaagain .
CHAPTERVII
F i g h t i n g f o r Po s i t i o n w i t h L o u i s N a p o l e o n , Ca v o u r ,
a n d B i s m a r c k
T
HEF e b r u a r y r e v o l u t i o n i n F r a n c e , w h i c h s t a r t e d a
g e n e r a l r e v o l u t i o n a r y m o v e m e n t t h r o u g h o u t Eu -
r o p e , w a s t o t e r m i n a t e i n a s u r p r i s i n g m a n n e r . Af t e r t h e
f a l l o f t h e f i r s t N a p o l e o n , F r a n c e h a d t r i e d f i r s t t h e e l d e r
a n d t h e n t h e y o u n g e r l i n e o f t h e B o u r b o n s
. Th e m a j o r i t y
o f t h e p e o p l e , h o w e v e r , f e l t u n e a s y u n d e r t h e f o r m o f g o v -
e r n m e n t i n t r o d u c e d i n 1 8 4 8 , f o r m e m o r i e s o f t h e t e r r o r
a n d e x c e s s e s o f t h e F i r s t Re p u b l i c t h a t f o l l o w e d t h e g r e a t
r e v o l u t i o n h a d n o t e n t i r e l y d i e d o u t , a n d t h e y w e r e r e -
v i v e d b y t h e J u n e r i s i n g o f 1 8 4 8 , w h i c h w a s s u p p r e s s e d ,
a f t e r s a n g u i n a r y c o n f l i c t s , b y Eu g e n e Ca v a i g n a c , w a r
m i n i s t e r o f t h e Re p u b l i c .
It w a s o n l y n a t u r a l i n t h e s e c i r c u m s t a n c e s t h a t t h e
F r e n c h p e o p l e s h o u l d r e s p o n d t o t h e m a g i c n a m e o f
N a p o l e o n , w h i c h i n s p i t e o f t h e t r a g i c e n d o f t h e m a n
w h o h a d m a d e i t f a m o u s h a d r e m a i n e d a s y m b o l o f g e n i u s
a n d g l o r y . O n t h e o u t b r e a k o f t h e r e v o l u t i o n , L o u i s
N a p o l e o n h a d h a s t e n e d t o Pa r i s t o s p y o u t h i s c h a n c e s ; a t
f i r s t h e r e m a i n e d i n t h e b a c k g r o u n d , b u t w h e n i n J u n e h e
w a s e l e c t e d t o r e p r e s e n t Pa r i s a n d t h r e e d e p a r t m e n t s , h e
f e l t t h a t h i s m o m e n t w a s a t h a n d . Th e a u r a s u r r o u n d i n g
t h e n a m e o f N a p o l e o n , w i t h i t s p e c u l i a r p s y c h o l o g i c a l
a p p e a l , w a s s u c c e s s f u l l y e x p l o i t e d b y a p o w e r f u l a g i t a -
t i o n , s o t h a t a t t h e p r e s i d e n t i a l e l e c t i o n s o f D e c e m b e r 1 o ,
1 8 4 8 , n o l e s s t h a n f i v e a n d a h a l f ` m i l l i o n , o u t o f s e v e n
a n d a q u a r t e r m i l l i o n v o t e s , w e r e c a s t i n f a v o r o f t h e
p r i n c e .
Th e Ro t h s c h i l d f a m i l y w a t c h e d t h e s e d e v e l o p m e n t s , - : - - - - -
2 5 7
2 5 8

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
w i t h n o l i t t l e d i s m a y . Th e y h a d n o t , a s i n t h e c a s e o f L o u i s
X VIII, e a s e d w i t h t h e i r g o l d t h e p r o g r e s s o f t h e r e g e n t
f r o m L o n d o n t o h i s t h r o n e i n Pa r i s . Th e r e a c t i o n h a d
o c c u r r e d f a r t o o s u d d e n l y , a n d t h e y w e r e t o o i n t i m a t e l y
a s s o c i a t e d w i t h t h e d y n a s t y t h a t h a d g i v e n t h e m s u c h
a n e x t r a o r d i n a r y p o s i t i o n i n Pa r i s , t o b e a b l e t o e f f e c t s o
a b r u p t a r e a d j u s t m e n t o f t h e i r w h o l e p o s i t i o n , t h e e x p e -
d i e n c y o f w h i c h , a t f i r s t a t a n y r a t e , w a s f a r f r o m c e r t a i n
.
M o r e o v e r , t h e r e w e r e h i s t o r i c a l r e a s o n s w h y t h e y s h o u l d
f e e l e m b a r r a s s e d i n t e n d e r i n g t h e i r s u p p o r t t o a N a p o l e o n ,
s i n c e t h e y w e r e b o u n d t o r e f l e c t t h a t t h e i r a t t i t u d e a f t e r
t h e f a l l o f t h e f i r s t N a p o l e o n h a d m a d e i t o b v i o u s t o
e v e r y o n e t h a t t h e y h a d a l w a y s b e e n s e c r e t l y i n o p p o s i t i o n .
If a s u c c e s s o r o f t h a t g r e a t m a n w e r e a c t u a l l y t o a t t a i n
t o p o w e r , t h e m e m b e r s o f t h e Ro t h s c h i l d f a m i l y c o u l d
h a r d l y e x p e c t h i m t o l o o k u p o n t h e m w i t h f a v o r a n d c o n -
f i d e n c e In t h e a b s e n c e o f a n y p o s s i b i l i t y o f L o u i s Ph i -
l i p p e c o m i n g b a c k , t h e Ho u s e o f Ro t h s c h i l d w a s i n c l i n e d
t o f a v o r a r e p u b l i c . Th e m e n a t t h e h e l m s e e m e d t o p r o -
v i d e a s u f f i c i e n t g u a r a n t y a g a i n s t s u c h a r e p u b l i c b e i n g
t o o e x t r e m e ; a n d t h e Ro t h s c h i l d s h a d s u c c e e d e d t h r o u g h
t h e i r e a r l i e r c o n n e c t i o n s i n e s t a b l i s h i n g g o o d , a n d i n s o m e
c a s e s , e v e n i n t i m a t e r e l a t i o n s w i t h t h e s e m e n .
Th e y w e r e e x c e e d i n g l y f r i e n d l y w i t h Ca v a i g n a c , a n d
o n t h e b e s t p o s s i b l e t e r m s w i t h G e n e r a l N i c o l a s Ch a n -
g a r n i e r , w h o h a d b e e n r e c a l l e d f r o m Al g i e r s t o t h e N a -
t i o n a l As s e m b l y , a n d h a d b e e n a p p o i n t e d t o t h e c o m m a n d
o f t h e n a t i o n a l g u a r d
. Ch a n g a r n i e r p a i d g a l l a n t a t t e n t i o n s
t o J a m e s Ro t h s c h i l d ' s w i f e , t h e b e a u t i f u l a n d i n t e l l i g e n t
B a r o n e s s B e t t y . Po l i t i c a l l y t h e g e n e r a l w a s a l s o i n s y m -
p a t h y w i t h t h e Ho u s e o f Ro t h s c h i l d , s i n c e , i f h e c o u l d n o t
a c h i e v e t h e p r e s i d e n c y h i m s e l f , h e w a s i n c l i n e d t o s u p -
p o r t t h e B o u r b o n s , h i s o n l y d i f f i c u l t y b e i n g t o d e c i d e a s
b e t w e e n t h e o l d e r a n d t h e y o u n g e r l i n e .
Ch a n g a r n i e r a n d t h e Ro t h s c h i l d s w e r e t h e r e f o r e a l i k e
d i s m a y e d a t t h e d e f e a t o f Ca v a i g n a c a n d L e d r u - Ro l l i n i n
t h e p r e s i d e n t i a l e l e c t i o n s . Th e g e n e r a l , h o w e v e r , r e t a i n e d
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 5 9
h i s h i g h m i l i t a r y o f f i c e , s i n c e f o r t h e m o m e n t h e w a s i n -
d i s p e n s a b l e t o t h e n e w p r e s i d e n t , L o u i s N a p o l e o n , t h e
p r o b l e m i n 1 8 4 9 b e i n g t o r e p e l f u r t h e r a t t a c k s b y t h e r a d i -
c a l s ; i n t h i s m a t t e r , a l t h o u g h o t h e r w i s e o p p o s e d , t h e i r i n -
t e r e s t s w e r e i d e n t i c a l
. Ch a n g a r n i e r , w h o s e c r e t l y s t i l l c h e r -
i s h e d a h o p e o f a t t a i n i n g t o t h e p r e s i d e n c y h i m s e l f , n o t e d
w i t h d i s p l e a s u r e , a s a l s o d i d J a m e s , t h a t t h e e n t o u r a g e o f
t h e p r i n c e p r e s i d e n t ( c o n s i s t i n g , a s m a n y o f t h e i r f r i e n d s
s t a t e d , o f g r e e d y a d v e n t u r e r s , a l t h o u g h i t c e r t a i n l y i n -
c l u d e d Pe r s i g n y , a m a n o f b l a m e l e s s c h a r a c t e r w h o w a s
b l i n d l y d e v o t e d t o t h e N a p o l e o n i c c a u s e ) w a s c o n s t a n t l y
u r g i n g L o u i s N a p o l e o n t o m a k e h i m s e l f a b s o l u t e m a s t e r
o f t h e s t a t e
. Th e y w e r e a l s o d i s p l e a s e d t o o b s e r v e t h a t
L o u i s N a p o l e o n s h o w e d n o s m a l l s k i l l i n e n l i s t i n g t h e
s u p p o r t o f p h i l a n t h r o p i c a n d s o c i a l i s t i c m o v e m e n t s .
Th e r e s u l t w a s t h a t , w h i l e o n t h e s u r f a c e L o u i s N a -
p o l e o n ' s a t t i t u d e t o t h e Ho u s e o f Ro t h s c h i l d w a s p o l i t e ,
t h e o p p o s i t i o n b e t w e e n t h e m i n c r e a s e d . Th e p r e s i d e n t f e l t
t h a t t h e b a n k w a s a n i n t e r n a t i o n a l p o w e r a n d t h a t h i s o w n
p o s i t i o n w a s n o t s o s e c u r e t h a t h e c o u l d a f f o r d t o m a k e
e n e m i e s u n n e c e s s a r i l y . F i n a n c i a l l y , h o w e v e r , h e h a d l i t t l e
n e e d o f t h e Ro t h s c h i l d s
. Th e r i c h J e w i s h b a n k e r , Ac h i l l e
F o u l d , a m e m b e r o f t h e Pa r i s b a n k o f F o u l d a n d O p p e n -
h e i m , h a d a t t a c h e d h i m s e l f t o t h e p r i n c e s o m e t i m e
a g o , a n d h e n o t o n l y l e n t t h e m o n e y t h e p r i n c e s o s o r e l y
n e e d e d t o c o n s o l i d a t e h i s p o s i t i o n , b u t a l s o , a s a f i n a n c i a l
e x p e r t , b e c a m e h i s c o n f i d e n t i a l a d v i s e r i n a l l m o n e y
m a t -
t e r s .
In o r d e r t o c u t t h e g r o u n d f r o m u n d e r t h e f e e t o f h i s
g r e a t r i v a l , Ac h i l l e F o u l d h a d b e e n p a r t i c u l a r l y a c t i v e
i n c o n f i r m i n g L o u i s N a p o l e o n i n t h e b e l i e f t h a t n o h e l p
c o u l d b e e x p e c t e d o f a Ho u s e w h i c h h a d b e e n s o i n t i -
m a t e l y a s s o c i a t e d w i t h t h e f a t e o f t h e B o u r b o n s , a n d h a d
b e e n s o d e f i n i t e l y h o s t i l e t o t h e f i r s t N a p o l e o n
.
In t h i s w a y F o u l d h o p e d t o s e c u r e t h e p o s i t i o n w i t h t h e
p o w e r s i n t h e s t a t e t h a t t h e Ro t h s c h i l d s h a d e n j o y e d .
F o u l d b a c k e d L o u i s N a p o l e o n , w h o w a s l e a d i n g i n t h e
2 6 o

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
r a c e f o r t h e t h r o n e o f F r a n c e ; i f h e w e r e t o c o m e i n f i r s t ,
t h e r e w a s n o s a y i n g h o w m u c h t h e p e r s p i c a c i o u s b a n k e r
m i g h t w i n . O n O c t o b e r 3 1 , 1 8 4 9 , Ac h i l l e F o u l d w a s a c -
t u a l l y a p p o i n t e d f i n a n c e m i n i s t e r t o t h e Re p u b l i c
.
S u c h b e i n g t h e s t a t e o f a f f a i r s i t m u s t h a v e b e e n w i t h
m i x e d f e e l i n g s t h a t L o u i s N a p o l e o n , Pr e s i d e n t o f t h e Re -
p u b l i c , a n d J a m e s Ro t h s c h i l d s a t n e x t t o o n e a n o t h e r i r k
t h e c o a c h o f h o n o r a t t h e o p e n i n g o f t h e N o r t h e r n Ra i l -
w a y o f F r a n c e l i n e t o S a i n t - Q u e n t i n . Th e s h o u t s o f " Vi v e
l ' Em p e r e u r 1 " w i t h w h i c h t h e p r e s i d e n t w a s a c c l a i m e d
b y t h e c r o w d s w e r e m u s i c t o h i s e a r s , b u t t h e y r o u s e d , b i t -
t e r f e e l i n g s i n t h e b r e a s t o f J a m e s . Th e r e w a s a t h i r d i n
t h i s c o m p a n y , J a c q u e s Em i l e Pe r e i r e , t h e Po r t u g u e s e J e w
w h o h a d a t t r a c t e d J a m e s ' s a t t e n t i o n i n c o n n e c t i o n w i t h
t h e f o u n d a t i o n o f t h e r a i l w a y c o m p a n i e s , a n d w h o h a d
a c h i e v e d r i c h e s a n d h o n o r i n h i s s e r v i c e
. He h a d f o r s o m e
t i m e b e e n i n t o u c h w i t h F o u l d , a n d w h e n h e s a w t h e n e w
s t a r r i s i n g i n t h e F r e n c h f i r m a m e n t , h e d e c i d e d t h a t t h e
t i m e h a d c o m e t o s e v e r h i s c o n n e c t i o n w i t h h i s o l d c h i e f
a n d t o m a k e a n i n d e p e n d e n t b i d f o r w e a l t h a n d p o w e r
b y p l a c i n g h i m s e l f a t t h e s e r v i c e o f t h e n e w l o r d o f t h e
l a n d . He t o o h e a r d w i t h s a t i s f a c t i o n t h e e l o q u e n t p l a u d i t s
o f t h e m u l t i t u d e , r e m i n i s c e n t o f a g l o r i o u s p a s t
.
Ex t e r n a l l y , t h i n g s s e e m e d t o b e g o i n g o n a s b e f o r e , a n d
i t w o u l d h a v e b e e n d i f f i c u l t f o r t h e u n i n i t i a t e d t o g u e s s
w h a t w a s h a p p e n i n g b e h i n d t h e s c e n e s
.
Th e p r e s i d e n t ' s r e p r e s e n t a t i v e a n d J a m e s Ro t h s c h i l d
w a l k e d s i d e b y s i d e b e h i n d Ho n o r e d e B a l z a c ' s c o f f i n o n
Au g u s t 2 0 , i 8 5 o . D u r i n g t h e y e a r s o f h i s g r o w i n g s u c c e s s
B a l z a c h a d b e e n a c o n s t a n t v i s i t o r a n d f r i e n d o f t h e
Ho u s e o f Ro t h s c h i l d . He h a d n e v e r b e e n a b l e t o g e t o u t
o f t h e h a b i t o f c o n t r a c t i n g d e b t s , a n d h a v i n g m a d e J a m e s ' s
a c q u a i n t a n c e a t Ai x - l e s - B a i n s , l h e n a t u r a l l y b o r r o w e d
m o n e y f r o m h i m . Th e n o v e l i s t d e s c r i b e d h i s c r e d i t o r s i n
a n a m u s i n g s t o r y , " Ro u e r i e s d u n c r e a n c i e r , "
w h i c h h e
d e d i c a t e d , a s w e l l a s " U n Ho m m e d ' a f f a i r e s "
t o J a m e s
Ro t h s c h i l d
. To t h e B a r o n e s s B e t t y , w h o o f t e n i n v i t e d h i m
O t t o v o n B i s m a r c k - S c h o n h a u s e n
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 6 1
t o t h e h o u s e , h e d e d i c a t e d " L ' En f a n t m a u d i t
. " Af t e r m e e t -
i n g He i n e a n d Ro t h s c h i l d o n t h e b o u l e v a r d o n e d a y , B a l -
z a c r e m a r k e d , " Th e r e g o a l l t h e w e a l t h a n d a l l t h e i n t e l l i -
g e n c e o f t h e J e w s a r m i n a r m . "
Po l i t i c s w e r e t o o a c u t e t o l e a v e m u c h t i m e f o r f u n e r a l s .
Th e o p p o s i t i o n b e t w e e n Ch a n g a r n i e r , w h o c o n t r o l l e d t h e
m i l i t a r y f o r c e s i n Pa r i s , a n d t h e p r e s i d e n t b e c a m e m o r e
a n d m o r e p r o n o u n c e d . Th e g e n e r a l o v e r e s t i m a t e d h i s i n -
f l u e n c e a n d h i s p o s i t i o n i n t h e N a t i o n a l As s e m b l y
; h i s
p o p u l a r i t y i n t h e c a p i t a l w a s d e c l i n i n g , w h i l e t h a t o f t h e
p r i n c e w a s i n c r e a s i n g . He r r v o n Hi i b n e r , t h e n e w Au s -
t r i a n r e p r e s e n t a t i v e , w h o s e p r e d e c e s s o r J a m e s c o n t i n u e d
t o l a m e n t , a t t r i b u t e d t h i s f a c t p a r t l y t o t h e f a c t t h a t t h e
g e n e r a l ' s r e l a t i o n s w i t h t h e Ho u s e o f Ro t h s c h i l d w e r e n o
s e c r e t
. " Th e f e e l i n g o f p o p u l a r r e s e n t m e n t f r o m w h i c h
t h e g e n e r a l i s s u f f e r i n g j u s t n o w , " h e r e p o r t e d o n J u n e 1 3 , 2
" i s l a r g e l y a t t r i b u t a b l e t o h i s i n t i m a t e r e l a t i o n s w i t h t h e
Ro t h s c h i l d f a m i l y , a r i s i n g o u t o f
a s e n t i m e n t d e c u r f o r
M a d a m e J a m e s Ro t h s c h i l d
. Th e p r i n c e , w h o m Ch a n -
g a r n i e r h a s o n s e v e r a l o c c a s i o n s p r o v o k e d b y h o l d i n g r e -
v i e w s o f t h e t r o o p s w i t h o u t e v e n a d v i s i n g h i m p r e v i o u s l y ,
l e a r n e d t h a t t h e s a i d l a d y w a s p r e s e n t a t t h e m i n a m a g -
n i f i c e n t e q u i p a g e , a n d t h a t t h e g a l l a n t g e n e r a l s a l u t e d h e r
b e f o r e t h e w h o l e a r m y o f Pa r i s
. " L o u i s N a p o l e o n f i n a l l y
d e c i d e d , a t t h e i n s t i g a t i o n o f h i s e n t o u r a g e , t o t a k e s t e p s
t o r e l i e v e G e n e r a l Ch a n g a r n i e r o f h i s c o m m a n d
.
Th e d e c r e e o f d i s m i s s a l h a d l a i n f o r f o u r d a y s o n t h e
p r e s i d e n t ' s d e s k , w h e n h e c h a n g e d h i s m i n d a g a i n
; t h e
i n s i n c e r e a n d s h o r t - l i v e d r e c o n c i l i a t i o n w a s m a r k e d b y
a m a g n i f i c e n t r e v i e w , a t w h i c h t h e g e n e r a l m a r c h e d t h e
t r o o p s p a s t t h e p r i n c e
.
D u r i n g t h i s p e r i o d t h e e n t h u s i a s t i c B o n a p a r t i s t s w e r e
w o r k i n g z e a l o u s l y f o r t h e r e e s t a b l i s h m e n t o f t h e Em p i r e
.
J e a n Pe r s i g n y p l a y e d a p r o m i n e n t p a r t i n t h i s m o v e m e n t
;
h e h a d b e c o m e a f r i e n d o f L o u i s N a p o l e o n d u r i n g t h e
l a t t e r ' s e x i l e a t Ar e n e n b e r g i n S w i t z e r l a n d , a n d h a d t a k e n
p a r t i n t h e S t r a s s b u r g a d v e n t u r e a t t h e e n d o f O c t o b e r ,
2 6 2

Th e Re i g n o f
t h e Ho u s e o f Ro t h s c h i l d
1 8 3 6 ,
a s w e l l a s i n L o u i s N a p o l e o n ' s u n s u c c e s s f u l l a n d i n g
a t B o u l o g n e
. Th e l a t t e r a t t e m p t h a d r e s u l t e d i n a s e n -
t e n c e o f t w e n t y y e a r s ' i m p r i s o n m e n t , a n d h e d i d n o t r e -
g a i n h i s l i b e r t y u n t i l t h e F e b r u a r y r e v o l u t i o n o f 1 8 4 8 . In -
s p i r e d w i t h a b u r n i n g h a t r e d o f t h e B o u r b o n s , h e n o w
. b e c a m e t h e m o s t z e a l o u s c h a m p i o n o f t h e Em p i r e
.
L o u i s N a p o l e o n h a d a t o n c e t a k e n h i m i n t o h i s c o n -
f i d e n c e a n d e m p l o y e d h i m o n i m p o r t a n t d i p l o m a t i c m i s -
s i o n s
; f r o m D e c e m b e r , 1 8 4 9 , u n t i l Ap r i l , 1 8 5 o , h e w a s a t
B e r l i n .
F o r e i g n c o u n t r i e s , a n d e s p e c i a l l y G e r m a n y , w e r e d i s -
t u r b e d t o o b s e r v e t h e i n t e r n a l d e v e l o p m e n t s i n F r a n c e , a s
t h a t c o u n t r y a p p e a r e d t o b e m o v i n g t o w a r d a s e c o n d
N a p o l e o n i c Em p i r e , w i t h a l l t h e u n f o r t u n a t e a s s o c i a t i o n s
c o n n e c t e d w i t h t h a t n a m e .
Am s c h e l M e y e r a t F r a n k f o r t a n d h i s b r o t h e r S o l o m o n ,
w h o h a d a l s o b e e n s t a y i n g a t F r a n k f o r t s i n c e h e h a d f l e d
f r o m Vi e n n a o n t h e o u t b r e a k o f t h e r e v o l u t i o n , s h a r e d
t h e s e m i s g i v i n g s ; t h e y a s k e d t h e i r b r o t h e r J a m e s t o l e t
t h e m k n o w t h e t r u t h a s t o t h e s t a t e o f a f f a i r s i n Pa r i s , a n d
h o w f a r t h e y h a d r e a l c a u s e t o f e e l a l a r m e d . D u r i n g
J a m e s ' s t e m p o r a r y a b s e n c e , h i s e l d e s t s o n Al f o n s Ro t h s -
c h i l d a n s w e r e d t h e i r l e t t e r . He a d m i t t e d t h a t t h e c o n -
f l i c t i n g a n d e x a g g e r a t e d r e p o r t s i n t h e n e w s p a p e r s g a v e
d i s t i n c t g r o u n d f o r a l a r m . He t h e r e f o r e w i s h e d h i s u n c l e
t o k n o w t h e o p i n i o n s o f w e l l - i n f o r m e d p e r s o n s w h o , b y
r e a s o n o f t h e i r p o s i t i o n i n t h e s t a t e , e x e r c i s e d a d i r e c t a n d
p o w e r f u l i n f l u e n c e u p o n t h e c o u r s e o f e v e n t s . In t h a t
c a t e g o r y Ch a n g a r n i e r w a s o b v i o u s l y i n c l u d e d b y i m p l i c a -
t i o n . Al f o n s Ro t h s c h i l d e x p r e s s e d t h e v i e w t h a t t h e r e
w a s a u n a n i m o u s d e s i r e t o m a i n t a i n p e a c e a n d o r d e r . Th e
o n l y c a u s e o f a l a r m w a s c o n n e c t e d w i t h Pe r s i g n y a n d t h e
i m p e r i a l i s t e l e m e n t s .
" M . d e Pe r s i g n y , " h e w r o t e , ' " t h e r e p r e s e n t a t i v e o f
F r a n c e i n B e r l i n , i s t o r e t u r n t o h i s p o s t i n t h e n e a r f u -
t u r e . He i s s t i l l o f a v e r y w a r l i k e t u r n o f m i n d . He m e a n s
t o i n d u c e Pr u s s i a t o d e c l a r e w a r o n Au s t r i a w i t h t h e
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 6 3
i d e a t h a t F r a n c e s h a l l i n t e r v e n e i n t h i s f r a t r i c i d a l s t r i f e
.
He h o p e s t h o r o u g h l y t o c o n f u s e t h e i s s u e i n G e r m a n y ,
s o t h a t c e r t a i n a m b i t i o u s s c h e m e s i n F r a n c e [ t h e Em p i r e ]
m a y b e b r o u g h t t o f r u i t i o n , w h i c h h a v e n o c h a n c e o f s u c -
c e s s w i t h o u t a f o r e i g n w a r
. Y o u m a y a s s u r e y o u r f r i e n d s
t h a t t h e s e s c h e m e s i n n o w a y e n j o y t h e a p p r o v a l o f o u r
G o v e r n m e n t , o f i n f l u e n t i a l m e m b e r s o f t h e Ch a m b e r , o r
o f t h e c o u n t r y i t s e l f . F r a n c e h a s n o d e s i r e a t a l l t o s e e
Pr u s s i a a n d Au s t r i a a t w a r
. Th e i d e a o f G e r m a n b l o o d b e -
i n g s h e d b y G e r m a n s s e e m s c r i m i n a l , a n d i f t h e El y s e e s
[ t h e p r e s i d e n t , L o u i s N a p o l e o n ] s h o u l d r e a l l y e m b a r k
u p o n s u c h a n e c c e n t r i c p o l i c y , o u r s t a t e s m e n a n d p a r l i a -
m e n t a r i a n s w o u l d c e r t a i n l y r e f u s e t o a d o p t i t o r c a r r y
i t t h r o u g h
. Y o u m a y t h e r e f o r e s e t y o u r m i n d s a t r e s t . . .
Th e G o v e r n m e n t w i l l f o l l o w a n e n t i r e l y c o n s e r v a t i v e
p o l i c y . "
Ch a n g a r n i e r w a s s a n g u i n e t o o
; h e s a i d o f Pe r s i g n y
w h o w a s s o m e w h a t s h o r t o f s t a t u r e , t h a t h e w a s b u s i l y ,
e n g a g e d i n " t u r n i n g t h e l i t t l e m a n ' s h e a d
. " B u t t h e g e n -
e r a l w a s m i s t a k e n
. L o u i s N a p o l e o n p u r s u e d h i s c o u r s e u n -
s w e r v i n g l y .
O n J a n u a r y 5 , 1 8 5 1 , t h e p r e s i d e n t r e l i e v e d G e n e r a l
Ch a n g a r n i e r o f h i s m i l i t a r y c o m m a n d , a l t h o u g h h e h a d
f a i l e d t o c a r r y a v o t e o f c e n s u r e o n t h e g e n e r a l i n t h e
N a t i o n a l As s e m b l y . Th e r e s u l t w a s t h a t L o u i s N a p o l e o n
b r o k e w i t h t h e As s e m b l y
; b u t t h e As s e m b l y i t s e l f w a s s p l i t
b y t h i s e v e n t , a n d i t s m a j o r i t y b e c a m e d i v i d e d
.
M e a n w h i l e t h e p r e s i d e n t , w h o w a s d e t e r m i n e d t o c u t
t h e G o r d i a n k n o t ,
h a d c o m p l e t e d h i s p r e l i m i n a r y p r e p a r a -
t i o n s . B y t h e c o u p
d ' e t a t o f D e c e m b e r z , 1 8 5 1 , w h e r e b y h e
d i s s o l v e d t h e N a t i o n a l As s e m b l y , h e l a i d t h e f o u n d a t i o n s
o f h i s p e r s o n a l p o w e r
. -
L o u i s N a p o l e o n ' s m o s t i m p o r t a n t o p p o n e n t s , n u m b e r -
i n g a l m o s t t w e n t y - s e v e n t h o u s a n d p e r s o n s , w e r e a r r e s t e d
a n d d e p o r t e d o r o t h e r w i s e d e a l t w i t h . In t h i s n u m b e r
w e r e i n c l u d e d Th i e r s , Ca v a i g n a c , a n d Ch a n g a r n i e r
. Th e
p r e s i d e n t s a i d t o t h e p e o p l e
: " Y o u r c o n s t i t u t i o n a n d y o u r
2 6 4

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
N a t i o n a l As s e m b l y a r e d e t e s t a b l e ; Il i b e r a t e y o u f r o m
t h e m . " U p t o t h e l a s t m o m e n t t h e m i n i s t r y h a d n o s u s -
p i c i o n o f w h a t w a s i n t h e a i r . Th e l e a d i n g p o s i t i o n s w e r e
m o s t l y o c c u p i e d b y p e r s o n s w h o s e n a m e s w e r e c l o s e l y a s -
s o c i a t e d w i t h t h e F i r s t Em p i r e , t h e n e w m e n b e i n g
M o r n y , F l a h a u t , Pe r s i g n y , a n d F o u l d .
Th e s e e v e n t s c a u s e d c o n s t e r n a t i o n i n t h e h o u s e o f J a m e s
Ro t h s c h i l d . Ch a n g a r n i e r ' s f a l l m a d e a n e n d o f a l l t h e
h o p e s w h i c h h e h a d s e t o n h i m .
" Th e a r r e s t o f t h e G e n e r a l , " Hi i b n e r r e p o r t e d , s " h a s
b r o u g h t s o r r o w i n t o t h e h o m e o f t h e Ro t h s c h i l d s , b u t i t
m u s t b e a d m i t t e d t h a t B a r o n J a m e s i s b e a r i n g t h e b l o w
w i t h g r e a t r e s i g n a t i o n
. Al l t h i n g s c o n s i d e r e d , t h e p o s i t i o n
i s e x c e e d i n g l y s e r i o u s . "
L o u i s N a p o l e o n s u b m i t t e d t h e d r a f t o f t h e n e w c o n s t i -
t u t i o n t o t h e p e o p l e , a n d t o o k a p l e b i s c i t e o n h i s m e a s u r e s
w h i c h r e s u l t e d i n h i s o b t a i n i n g a n e n o r m o u s m a j o r i t y ,
s e v e n a n d a h a l f m i l l o n v o t e s b e i n g c a s t i n f a v o r o f h i s
m e a s u r e a n d s i x h u n d r e d a n d f i f t y t h o u s a n d a g a i n s t . Th e
p e o p l e w a n t e d p e a c e , a n d f o r t h e m t h e n a m e o f N a p o l e o n
s y m b o l i z e d a h a p p y f u t u r e
.
B y w a y o f c o u n t e r i n g a n y m i s g i v i n g s l e s t , a s i n t h e
t i m e o f t h e F i r s t Em p i r e , t h e c a l m w h i c h e v e r y o n e l o n g e d
f o r s h o u l d b e s h a t t e r e d b y w a r , L o u i s N a p o l e o n m a d e t h e
s t a t e m e n t a t B o r d e a u x , " Th e Em p i r e i s p e a c e , " t h e r e b y
g i v i n g o p e n e x p r e s s i o n t o h i s i n t e n t i o n o f a s s u m i n g t h e
i m p e r i a l c r o w n . J a m e s h a d t o m a k e t h e b e s t o f a b a d j o b
a n d a d j u s t h i m s e l f t o t h e c o u r s e o f e v e n t s .
L o u i s N a p o l e o n h a d n o t s h o w n a n y o v e r t h o s t i l i t y t o
J a m e s
; h e h a d e v e n , i n a c c o r d a n c e w i t h h i s p o l i c y o f s e -
c u r i n g t h e s u p p o r t o f t h e Ca t h o l i c s , i n d u c e d h i m t o g r a n t
a l o a n t o t h e Po p e
. M o r e o v e r , a t t h e b e g i n n i n g o f
1 8 . 5 2
h e h a d g r a n t e d a s y n d i c a t e o f b a n k e r s , o p e r a t i n g u n d e r
t h e l e a d e r s h i p o f t h e Ho u s e o f Ro t h s c h i l d , t h e c o n c e s s i o n
f o r c o n s t r u c t i n g t h e r a i l w a y f r o m Pa r i s t o L y o n s
.
N e v e r t h e l e s s , J a m e s h a d l o s t h i s p o s i t i o n o f f i n a n c i a l
s u p r e m a c y i n Pa r i s
; h e w o u l d n o t b e a b l e t o r e t a i n h i s
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 6 5
f o o t i n g a t a l l w i t h o u t a s t r u g g l e , a n d h a v i n g r e g a r d t o
t h e p e r s o n s n o w i n
p o w e r , t h a t s t r u g g l e w a s b o u n d t o
b e a h a r d o n e
. Th e Pa r i s Ho u s e h a d s c a r c e l y r e c o v e r e d
s o m e w h a t f r o m t h e c o n s e q u e n c e s o f t h e F e b r u a r y r e v o l u -
t i o n o f 1 8 4 8 , w h e n i t w a s f a c e d w i t h t h e s e f u r t h e r s e r i o u s
p r o b l e m s . ,
At t h i s t i m e a n e v e n t o c c u r r e d t h a t p r o f o u n d l y a f -
f e c t e d a l l t h e m e m b e r s o f t h e Ro t h s c h i l d f a m i l y . F r a u
G u d u l a , w i d o w s i n c e 1 8 1 2 o f M e y e r Am s c h e l , t h e
f o u n d e r o f t h e b a n k , a n d m o t h e r o f t h e f i v e F r a n k f o r t e r s ,
w h o h a d w i t n e s s e d t h e r i s e o f t h e Ho u s e f r o m i t s b e g i n -
n i n g , d i e d M a y 7 , 1 8 4 9 , a t t h e a g e o f n i n e t y - s i x
. S h e h a d
s e e n t h e p a s s a g e o f t h e l a w o f F e b r u a r y 2 0 , 1 8 4 9 , c o n -
f e r r i n g c i v i l a n d p o l i t i c a l e q u a l i t y o n a l l m e m b e r s o f t h e
s t a t e , i n c l u d i n g t h e J e w s , a n e v e n t w h i c h h e r h u s b a n d a n d
h e r s o n s h a d d o n e s o m u c h t o
h e l p b r i n g a b o u t . In s p i t e
o f a l l t h e w e a l t h t h a t h a d c o m e t o h e r f a m i l y s h e h a d
n e v e r l e f t t h e l i t t l e f a m i l y h o u s e i n t h e J e w i s h q u a r t e r ,
f o r s h e f e a r e d t h a t f o r t u n e w o u l d d e s e r t t h e Ho u s e i f s h e
w e r e t o f o r s a k e t h e s p o t w h e r e i t h a d f i r s t c o m e u p o n
t h e m , d u r i n g t h e l i f e t i m e o f h e r b e l o v e d
. h u s b a n d . S h e
k e p t h e r h e a l t h u p t o a n a d v a n c e d a g e , a n d t h e n , w h e n
t h e f i r s t s i g n o f t r o u b l e o c c u r r e d , s h e w a s a n g r y w i t h
t h e d o c t o r s f o r n o t b e i n g a b l e t o a s s i s t h e r m o r e e f f e c -
t i v e l y . W h e n D r . S t i e b e l r e p l i e d t h a t i t w a s u n f o r t u n a t e l y
i m p o s s i b l e f o r h i m t o m a k e h e r y o u n g e r , s h e a n s w e r e d
i n t h e w o r d s t h a t h a v e s i n c e b e c o m e f a m o u s : " I' d o n o t
w a n t y o u t o m a k e m e y o u n g e r ; a l l Iw a n t i s t o b e m a d e
o l d e r . " e
U n t i l t h e e n d o f l i f e t h e v e n e r a b l e w o m a n r e -
m a i n e d s a v i n g , s i m p l e , u n a s s u m i n g , a n d d e e p l y r e l i g i o u s .
He r b r i d a l w r e a t h , c a r e f u l l y p r e s e r v e d u n d e r g l a s s , a n d
s t i l l o c c u p y i n g i t s p l a c e o f h o n o r a t F r a n k f o r t , w a s a
s y m b o l o f t h e p i o u s l i f e o f t h i s f i n e o l d w o m a n , s o t r u e t o
h e r t r a d i t i o n s . W h i l e t h e o l d m o t h e r o f t h e Ho u s e w a s
d y i n g a t F r a n k f o r t , h e r s o n s a n d g r a n d s o n s t h r o u g h o u t
t h e w o r l d w e r e f i g h t i n g t o m a i n t a i n t h e p o s i t i o n o f p o w e r
2 6 6

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
w h i c h t h e y h a d w o n
. Th e f i n a n c i a l s u p r e m a c y o f t h e
Ho u s e i n En g l a n d h a d s c a r c e l y b e e n a f f e c t e d b y t h e d e -
v e l o p m e n t s o n t h e Co n t i n e n t
. It s m e m b e r s w e r e r a t h e r
c o n c e r n e d t o r a i s e t h e m s e l v e s s o c i a l l y , f o r t h e Ho u s e o f
L o r d s w a s s t r o n g l y o p p o s e d t o t h e i d e a o f J e w i s h e m a n c i -
p a t i o n .
An t h o n y , N a t h a n ' s s e c o n d s o n a n d t h e y o u n g e r b r o t h e r
o f L i o n e l , w h o w a s n o w h e a d o f t h e En g l i s h Ho u s e h a d ,
o n S i r Ro b e r t Pe e l ' s r e c o m m e n d a t i o n , b e e n c r e a t e d a
b a r o n e t o n J a n u a r y
1 2 , 1 8 4 7 , w i t h t h e s p e c i a l p r o v i s i o n
t h a t i f h e h a d n o h e i r s m a l e , t h e t i t l e s h o u l d d e v o l v e u p o n
t h e h e i r s o f h i s e l d e r b r o t h e r , L i o n e l
. He l i v e d t h e l i f e
o f a w e a l t h y c o u n t r y g e n t l e m a n , a n d k e p t o p e n h o u s e a t
As t o n Cl i n t o n i n B u c k i n g h a m s h i r e
. M e a n w h i l e L i o n e l ,
w h o m t h e Ci t y o f L o n d o n k e p t e l e c t i n g t o Pa r l i a m e n t , d i d
n o t c e a s e h i s e f f o r t s t o s e c u r e a d m i s s i o n t o t h e Ho u s e , i n
s p i t e o f t h e o b s t a c l e s o f t h e Ch r i s t i a n o a t h a n d t h e o p p o s i -
t i o n o f t h e Ho u s e o f L o r d s . Hi s c a s e r a i s e d t h e i m p o r t a n t
q u e s t i o n o f p r i n c i p l e , a s t o w h e t h e r J e w s s h o u l d b e a d -
m i t t e d t o t h e Ho u s e o f Co m m o n s o r n o t . O n J u l y 2 5 ,
1 8 5 o , a m e e t i n g o f e l e c t o r s o f t h e Ci t y , w h i c h h a d b e e n
c a l l e d a t a L o n d o n t a v e r n , d e c i d e d t h a t L i o n e l s h o u l d
g o t o t h e Ho u s e o f Co m m o n s o n t h e f o l l o w i n g d a y a n d
c l a i m h i s s e a t
. He d u l y a p p e a r e d a n d a s k e d t o t a k e t h e
o a t h o n t h e O l d Te s t a m e n t . S i r Ro b e r t In g l i s , h o w e v e r ,
t h e l e a d e r o f t h e To r i e s a n d t h e o p p o n e n t o f J e w i s h
e m a n c i p a t i o n , o p p o s e d t h e s u g g e s t i o n . L i o n e l ' w a s a s k e d
t o w i t h d r a w , a n d t h e m a t t e r w a s p o s t p o n e d u n t i l J u l y 2 9 .
O n t h a t d a y h e a g a i n a p p e a r e d i n t h e Ho u s e o f Co m -
m o n s , a n d t o o k t h e o a t h o f l o y a l t y t o t h e q u e e n a s w e l l a s
t h e o a t h o f s u p r e m a c y , w h i c h r e c o g n i z e s t h e s o v e r e i g n
a s t h e o n l y h e a d o f t h e c h u r c h , t h e s e t w o o a t h s b e i n g q u i t e
u n o b j e c t i o n a b l e s i n c e t h e y c l o s e d w i t h t h e w o r d s , " s o h e l p
m e G o d . " In t h e c a s e o f t h e t h i r d o a t h r e q u i r e d b y l a w ,
h o w e v e r , t h e o a t h o f a b j u r a t i o n , w h i c h d e a l s w i t h t h e
d e s c e n d a n t s o f J a m e s II, 7 a n d i s s t i l l r e q u i r e d , a n d w h i c h
c l o s e s w i t h t h e w o r d s , " o n t h e t r u e f a i t h o f a Ch r i s t i a n , "
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 6 7
N a t h a n s u b s t i t u t e d t h e f o r m u l a , " s o h e l p m e G o d , " a d d -
i n g t h a t t h e s e w o r d s w e r e m o r e b i n d i n g o n h i s c o n s c i e n c e
t h a n a n y o t h e r
.
He h a d t a k e n u p t h e p e n t o s i g n h i s n a m e i n t h e r e g i s t e r
o f a d m i t t e d m e m b e r s , w h e n t h e S p e a k e r t o l d h i m t o
w i t h d r a w . Af r e s h e l e c t i o n w a s d e m a n d e d o n t h e g r o u n d
t h a t B a r o n Ro t h s c h i l d h a d r e f u s e d t o t a k e t h e o a t h i n t h e
p r e s c r i b e d f o r m
. An a m e n d m e n t t h a t h e s h o u l d b e r e -
g a r d e d a s a n a c t u a l m e m b e r o f t h e Ho u s e w a s l o s t b y a
m a j o r i t y o f
1 0 4
v o t e s
. Th e m a t t e r a r o u s e d g r e a t e x c i t e -
m e n t , a n d t h e r e w a s k e e n p u b l i c d i s c u s s i o n . Th e p o s i t i o n
w a s t h a t a n y c h a n g e i n t h e f o r m u l a i n t h e o a t h o f a b j u r a -
t i o n c o u l d b e b r o u g h t a b o u t o n l y b y a n a c t o f Pa r l i a m e n t
p a s s e d b y b o t h Ho u s e s , a l t h o u g h t h e o a t h w a s q u i t e r e -
d u n d a n t a n d h a d a p u r e l y h i s t o r i c a l s i g n i f i c a n c e
. If , h o w -
e v e r , t h e Ho u s e o f Co m m o n s h a d a g r e e d , a f t e r a l l t h a t
h a d o c c u r r e d , t o h i s t a k i n g h i s s e a t , Ro t h s c h i l d c o u l d h a v e
s a t i n i t f r o m t h a t d a y
. B y d o i n g s o , h o w e v e r , h e w o u l d
h a v e m a d e h i m s e l f l i a b l e t o a n a c t i o n b y a n y p e r s o n i n
a n y o n e o f t h e t h r e e p r i n c i p a l c o u r t s o f j u s t i c e , a n d t o a
p e n a l t y o f f i v e h u n d r e d p o u n d s f o r e a c h d a y t h a t h e h a d
s a t i n t h e Ho u s e , t h e f i n e b e i n g p a y a b l e t o t h e p e r s o n
w h o b r o u g h t t h e a c t i o n
. '
Al t h o u g h a t a l a t e r d a t e a m a j o r i t y o f t h e Ho u s e o f
Co m m o n s a c t u a l l y v o t e d t h a t L i o n e l s h o u l d b e a d m i t t e d ,
t h e b i l l w a s r e j e c t e d b y t h e Ho u s e o f L o r d s , a n d s o m e
y e a r s p a s s e d b e f o r e t h e m a t t e r w a s f i n a l l y s e t t l e d .
Th r o u g h h i s b r o t h e r N a t h a n i e l a n d t h r o u g h o c c a s i o n a l
v i s i t s , L i o n e l k e p t i n c l o s e t o u c h w i t h h i s u n c l e J a m e s i n
Pa r i s
. In v i e w o f t h e d e v e l o p m e n t s o f e v e n t s i n F r a n c e ,
J a m e s f e l t t h a t h e o u g h t t o d i s c u s s t h e s i t u a t i o n w i t h h i s
o t h e r b r o t h e r s a n d n e p h e w s i n F r a n k f o r t a n d Vi e n n a , a n d
a c c o r d i n g l y s e t o u t o n a j o u r n e y t o t h e s e c i t i e s i n Au g u s t ,
1 8 5 2 .
At Vi e n n a J a m e s w a s r e c e i v e d i n a u d i e n c e b y t h e Em -
p e r o r F r a n c i s J o s e p h , w h o a s k e d h i m w h a t w a s h a p p e n -
i n g i n F r a n c e
. Th e e m p e r o r i n f o r m e d J a m e s , a s Au s t r i a n
2 6 8

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
c o n s u l - g e n e r a l i n Pa r i s , t h a t h e c h e r i s h e d t h e m o s t
f r i e n d l y f e e l i n g s f o r L o u i s N a p o l e o n a n d a s k e d h i m t o
p a s s t h i s o n . Th e d u t y o f c o m m u n i c a t i n g t h i s m e s s a g e ,
n o n - c o m m i t t a l t h o u g h i t m i g h t b e , w a s a w e l c o m e o n e t o
J a m e s , s i n c e h e w o u l d b e c o m i n g t o t h e p r e s i d e n t , w h o
w a s o n t h e v e r g e o f a c h i e v i n g t h e i m p e r i a l d i g n i t y , w i t h
p l e a s a n t w o r d s f r o m a " l e g i t i m a t e " p o t e n t a t e , a n d w o u l d
t h e r e b y b e e n a b l e d t o i m p r o v e h i s u n f o r t u n a t e p o s i t i o n i n
Pa r i s .
Af t e r S o l o m o n ' s f l i g h t , t h e Vi e n n a b r a n c h o f t h e Ho u s e
o f Ro t h s c h i l d w a s w i t h o u t a r e a l h e a d , b e i n g c a r r i e d o n
b y m a n a g e r s a n d s e c r e t a r i e s . L a t e r o n , S o l o m o n ' s e l d e s t
s o n An s e l m , w h o w a s f o r t y - n i n e y e a r s o l d a t t h e t i m e ,
f r e q u e n t l y v i s i t e d Vi e n n a , a n d a l t h o u g h h e w a s Au s t r i a n
c o n s u l - g e n e r a l a t F r a n k f o r t , h e t o o k o v e r t h e c o n t r o l o f
t h e b u s i n e s s , c o n s t a n t l y c o m i n g a n d g o i n g b e t w e e n t h e t w o
t o w n s . W h e n t h e r e a c t i o n s e t i n , i n Au s t r i a a n d t h e a g e d
M e t t e r n i c h r e t u r n e d , i t b e c a m e e a s i e r f o r t h e Ho u s e o f
Ro t h s c h i l d t o r e g a i n t h e i r f o o t i n g i n Vi e n n a . Th e f a m i l y
w e a l t h w a s u n i m p a i r e d
. S o c i e t y a n d t h e s t a t e s t i l l w a n t e d
t h e i r m o n e y ; t h e a r i s t o c r a c y r e t u r n e d t o p o w e r , a n d
c l o s e l y g u a r d e d t h e t h r o n e
. O l d c o n n e c t i o n s , f r o m t h e
t i m e o f M e t t e r n i c h , w h i c h h a d b e e n o n l y t e m p o r a r i l y
s e v e r e d , w e r e r e s u m e d , a n d t h e Ho u s e o f Vi e n n a w a s
s o o n r e e s t a b l i s h e d i n i t s f o r m e r r e s p e c t e d p o s i t i o n
.
W h e n J a m e s r e t u r n e d t o Pa r i s f r o m Vi e n n a , t h e r e w a s
a n u n p l e a s a n t s u r p r i s e a w a i t i n g h i m
. Hi s o p p o n e n t s h a d
s u c c e e d e d i n e n t i r e l y w i n n i n g o v e r t o t h e i r s i d e L o u i s
N a p o l e o n , w h o h a d v e r y l i t t l e u n d e r s t a n d i n g f o r f i n a n c i a l
m a t t e r s , a n d t h e y w e r e a l r e a d y v e n t u r i n g u p o n a m o v e
w h i c h s h o u l d t a k e t h e f i n a n c i a l p o w e r i n F r a n c e e n t i r e l y
o u t o f t h e h a n d s o f t h e Ro t h s c h i l d s
. Th e y h a d p l a n n e d
t o f o u n d a g r e a t r i v a l b a n k , w h i c h s h o u l d r e c e i v e e x t e n -
s i v e s u p p o r t f r o m t h e s t a t e , a n d i n w h i c h - t h i s w a s t h e
e s s e n t i a l p o i n t - F o u l d , Pe r e i r e , a n d t h e i r r e t a i n e r s s h o u l d
p l a y t h e l e a d i n g p a r t s
. Th e r o l e s h a d b e e n c l e v e r l y a l -
l o t t e d
. Th e h i g h l y g i f t e d a n d a s s i d u o u s Pe r e i r e s w i t h
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 6 9
t h e i r t i r e l e s s e n e r g y , w h o h a d b e e n s c h o o l e d b y Ro t h s -
c h i l d , w e r e o s t e n s i b l y t o b e t h e f o u n d e r s . Ac h i l l e F o u l d
w a s t o s t a n d a l o o f , s o a s t o b e a b l e t o h o l d o f f i c e u n d e r t h e
s t a t e , b u t h i s i n t i m a c y a n d i n f l u e n c e w i t h t h e n e w r u l e r
w o u l d b e h i s h i g h l y i m p o r t a n t c o n t r i b u t i o n t o t h e c a p i -
t a l o f t h e n e w v e n t u r e . W i t h t h e s u p p o r t o f t h e r u l e r a n d
o f t h e s t a t e , t h e y h o p e d t h a t t h e i r b u s i n e s s w o u l d s u c c e e d .
Th e r e w a s a n e l e m e n t o f S a i n t - S i m o n i s m a n d s o c i a l i s m
f o r d e c o r a t i v e e f f e c t , a n d i n d e e d t h i s w a s n o t a m a t t e r e n -
t i r e l y o f p h r a s e s a n d t h e o r i e s s u c h a s t h e d e m o c r a t i z a t i o n
o f b a n k i n g , f o r s o m e n e w i d e a s o f r e a l v a l u e w e r e c e r -
t a i n l y d e v e l o p e d .
Th e f u n d a m e n t a l i d e a w a s t h a t t h e s t a t e s h o u l d b e m a d e
i n d e p e n d e n t o f r i c h i n d i v i d u a l b a n k e r s , a n d t h a t e v e n t h e
s m a l l e s t s a v i n g s o f i t s c i t i z e n s s h o u l d b e c a n a l i z e d i n t o a
g i g a n t i c r e s e r v o i r , t h e n e w b a n k , w h i c h w o u l d d i s t r i b u t e
t h e m a s a n d w h e r e c a p i t a l w a s r e q u i r e d
. "
F o u l d w o n o v e r h i s s o v e r e i g n
. b
y t h e p l e a s i n g p r o s p e c t
o f b e i n g a b l e t o m a k e h i m s e l f i n d e p e n d e n t o f Ro t h s c h i l d ,
w h o a t h e a r t w a s a n O r l e a n i s t , b y t h e p r o p o s a l t h a t a n y
l o a n f o r w h i c h t h e n e c e s s i t y s h o u l d a r i s e s h o u l d b e i s -
s u e d i n s m a l l q u a n t i t i e s d i r e c t t o t h e p u b l i c , a n d t h u s
e s c a p e t h e Ro t h s c h i l d s .
Th e p h r a s e
s o u s c r i p t i o n n a t i o n a l e c o u p l e d w i t h t h e
i d e a o f i n d e p e n d e n c e o f t h e a n t i - N a p o l e o n i c Ro t h s c h i l d s
e n t i r e l y w o n o v e r L o u i s N a p o l e o n , a n d F o u l d a n d
Pe r e i r e ' s h o p e s s o a r e d s o h i g h t h a t t h e y a l r e a d y s a w t h e m -
s e l v e s i n c o n t r o l o f a m o n o p o l y f o r t h e w h o l e c r e d i t
o r g a n i z a t i o n o f F r a n c e
. Th u s t h e y h o p e d t o d r i v e t h e
Ro t h s c h i l d s e n t i r e l y o u t o f t h e f i e l d .
W h e n J a m e s p e r c e i v e d t h i s d a n g e r h e d i d e v e r y t h i n g
h e c o u l d t o w a r n t h e Pr e s i d e n t o f t h e Re p u b l i c a n d t o
o p e n h i s e y e s
. He s e n t L o u i s N a p o l e o n a m e m o r a n d u m
w r i t t e n i n h i s o w n h a n d , i n w h i c h h e s e t o u t t h e d a n g e r s
o f a l l t h e s e i n n o v a t i o n s a n d , p r o p h e s i e d t h a t t h e n e w v e n -
t u r e w o u l d c o m e t o a b a d e n d
.
It w a s a n e a s y m a t t e r f o r F o u l d t o m a k e i t c l e a r t o L o u i s
2 7 0

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
N a p o l e o n t h a t t h i s c o u l d a l l b e e x p l a i n e d b y J a m e s ' s h o s -
t i l i t y t o t h e f o r m a t i o n o f a n e w N a p o l e o n i c e m p i r e
. O n
N o v e m b e r
2 0 , 1 8 5 2 , t h e m e m o r a n d u m c o n s t i t u t i n g t h e
n e w c o m p a n y w a s a c t u a l l y p u b l i s h e d i n t h e M o n i t e u r . It
w a s g i v e n t h e n a m e Cr e d i t M o b i l i e r
. Th e t w o b r o t h e r s
Pe r e i r e a n d t h e F o u l d s h e l d t h e m a j o r i t y o f t h e s h a r e s ,
e a c h c o u p l e h o l d i n g o v e r e l e v e n t h o u s a n d , o u t o f t h e o r -
i g i n a l c a p i t a l o f f o r t y t h o u s a n d s h a r e s
. Th e n a m e o f L o u i s
N a p o l e o n ' s c o n f i d e n t i a l a d v i s e r , Ac h i l l e F o u l d d i d n o t
a p p e a r , t h e s h a r e s s t a n d i n g i n t h e n a m e o f h i s b r o t h e r
B e n o i t , w h o w a s h e a d o f t h e b a n k B
. L . F o u l d a n d F o u l d -
O p p e n h e i m
. As s o c i a t e d w i t h t h e f o u n d e r s w e r e t h e n a m e s
o f d e c o r a t i v e p e r s o n a g e s b e l o n g i n g t o t h e a r i s t o c r a c y ,
s u c h a s t h e Pr i n c e s s v o n L e u c h t e n b e r g a n d t h e D u k e o f
G a l l i e r a , a n d a l s o t h e B a n k o f To r l o n i a i n Ro m e a n d
S o l o m o n , He i n e o f Ha m b u r g , He i n r i c h He i n e ' s u n c l e
.
Al t o g e t h e r a t o t a l o f
1 2 0 , 0 0 0
s h a r e s a t S o o f r a n c s a s h a r e
w a s i s s u e d , s o t h a t e v e n t h e s m a l l e s t c a p i t a l i s t s c o u l d t a k e
p a r t i n t h e v e n t u r e , w h i c h i n d e e d t h e y p r o c e e d e d t o d o
.
F r a n c e w a s a t t h e t i m e l i v i n g i n a k i n d o f f e v e r e v o k e d
b y t h e n a m e o f N a p o l e o n
. Ev e r y o n e h o p e d t h a t i n a c -
c o r d a n c e w i t h t h e p r o m i s e s o f t h e n e w r u l e r , p e a c e a n d
t r a n q u i l l i t y w e r e a s s u r e d f o r a l o n g p e r i o d a n d t h a t i t
w o u l d t h e r e f o r e b e e a s y t o g r o w r i c h w i t h o u t m u c h e f f o r t
.
Th e s h a r e w h i c h a n y o n e c o u l d e a s i l y t a k e i n t h e n e w v e n -
t u r e s e e m e d t h e o b v i o u s w a y o f a c h i e v i n g t h e d e s i r e d
r e s u l t .
O n e d a y a f t e r t h e p u b l i c a t i o n o f t h e m e m o r a n d u m
w h i c h c a l l e d t h e Cr e d i t M o b i l i e r i n t o e x i s t e n c e , a p l e b i s -
c i t e y i e l d e d a l m o s t
8 , 0 0 0 , o o o
v o t e s i n f a v o r o f a n i m p e r i a l
c o n s t i t u t i o n , a g a i n s t
2 5 0 , 0 0 0
v o t e s o n t h e o t h e r s i d e . O n
N o v e m b e r
2 3 ,
t h e f i r s t d a y o n w h i c h t h e s h a r e s o f t h e
Cr e d i t M o b i l i e r w e r e q u o t e d o n t h e b o u r s e , t h e s e c u r i t i e s ,
w h o s e n o m i n a l v a l u e w a s S o o f r a n c s , w e r e q u o t e d a t i , i o o ,
a n d f o u r d a y s l a t e r t h e y r o s e t o i , 6 o o
. J a m e s Ro t h s c h i l d
w a t c h e d t h e s e d e v e l o p m e n t s i r o n i c a l l y , b u t w i t h a c e r t a i n
a m o u n f o f c o n c e a l e d f e a r
. Hi s w a r n i n g s p a s s e d u n h e e d e d
.
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 7 1
He n a t u r a l l y t o o k n o p a r t w h a t e v e r i n t h e u n d e r t a k i n g ,
a n d i n h i s h e a r t d e c l a r e d r e l e n t l e s s w a r u p o n i t . Th e
c o n t e s t , h e n o w r e a l i z e d , w o u l d b e n o e a s y o n e , f o r b e h i n d
t h e n e w u n d e r t a k i n g s t o o d t h e n a m e o f t h e h e a d o f t h e
s t a t e , w h o o n D e c e m b e r 2 , 1 8 5 2 , w a s p r o c l a i m e d N a p o -
l e o n III, b y t h e g r a c e o f G o d a n d t h e w i l l o f t h e p e o p l e
Em p e r o r o f t h e F r e n c h .
J a m e s w a s a b l e t o d e r i v e a c e r t a i n s e c r e t s a t i s f a c t i o n
f r o m t h e f a c t t h a t , a s e a r l y a s D e c e m b e r
3 1
o f t h a t y e a r t h e
s h a r e s o f t h e Cr e d i t M o b i l i e r w e r e q u o t e d a t o n l y 8 7 5
f r a n c s . Th e s h a r e s h a d b e c o m e a s d a n g e r o u s a s a n y s e c u r i -
t i e s o n t h e b o u r s e , a n d w e r e t h e s p o r t o f u n s o u n d s p e c u l a -
t i o n
.
N o t e v e r y o n e h a d b e e n d a z z l e d b y t h e s e d e v e l o p m e n t s
.
Th e r e w e r e o t h e r c o n t e m p o r a r i e s o f J a m e s w h o p e r c e i v e d
t h e d a n g e r s l u r k i n g b e h i n d t h e s e f i n a n c i a l e x p e r i m e n t s .
" Th a n k s t o t h e n e w c o n c e r n , " o n e s u c h s k e p t i c w r o t e s a r -
c a s t i c a l l y t o Vi e n n a , 1 0 " t h e m o r e f a v o r e d p e o p l e o n t h e
Pa r i s B o u r s e a t a n y r a t e w i l l b e e n a b l e d f o r a t i m e t o
s p e c u l a t e w i t h e v e r y p r o s p e c t o f s u c c e s s , w i t h o u t t o u c h i n g
a s o u . "
Th u s o w i n g t o t h e s u p p o r t o f t h e a u t h o r i t i e s , n e w m e n
h a d c o m e i n t o t h e c o n t r o l o f f i n a n c i a l - a f f a i r s
. N o t o n l y
F o u l d a n d Pe r e i r e , b u t s o m e h i g h l y u n s a v o r y e l e m e n t s a s
w e l l , h a d c o m e i n t o t h e f o r e g r o u n d , w h i c h s o u g h t t o m a k e
h a y b y a s k i l f u l c o m b i n a t i o n o f b u s i n e s s a n d j o u r n a l i s m .
Th e r e w a s i n p a r t i c u l a r a c e r t a i n J u l e s M i r e s , o r i g i n a l l y
a p o o r w r e t c h f r o m t h e l o w e s t c l a s s i n B o r d e a u x , w h e r e
h e h i t u p o n t h e i d e a o f p u b l i s h i n g a p a p e r w h i c h , i n a d d i -
t i o n t o c e r t a i n i t e m s o f n e w s , s h o u l d c o n t a i n a d a i l y l i s t
o f p e r s o n s w h o h a d d i e d i n t h e t o w n . In e a c h c a s e t h e i l l -
n e s s o f w h i c h t h e p e r s o n h a d d i e d w a s s t a t e d , a s w e l l
a s t h e n a m e o f t h e d o c t o r w h o h a d a t t e n d e d h i m
. Th i s
c a u s e d a n n o y a n c e t o t h e y o u n g e r m e m b e r s o f t h e p r o -
f e s s i o n , a n d t h e y p a i d M i r e s t h e s u m o f 2 5 , 0 0 0
f r a n c s t o
c e a s e p u b l i s h i n g t h e p a p e r .
W i t h t h i s m o n e y M i r e s m i g r a t e d t o Pa r i s , w h e r e h e
2 7 2

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
f o u n d e d a r a i l w a y p a p e r o n t h e s a m e s y s t e m , c a l l i n g i t t h e
" J o u r n a l d e s Ch e m i n s - d e - f e r s
. " B y m e a n s o f b o t h t r u e
a n d f a b r i c a t e d d i s c l o s u r e s h e a l a r m e d t h e p u b l i c a n d p r o -
d u c e d c o n s t e r n a t i o n a m o n g t h e c o m p a n i e s , w h i c h w e r e
f o r c e d t o p a y f o r h i s s i l e n c e . In a d d i t i o n h e a c q u i r e d
s o
m u c h w e a l t h b y s p e c u l a t i o n t h a t h e s o o n a c h i e v e d a p l a c e
a m o n g t h e l e a d i n g Pa r i s f i n a n c i e r s , w h o a s s o c i a t e d w i t h
s o m a n y i m p o r t a n t p e r s o n s
.
Th e n e w p o w e r s a n d e n t e r p r i s e s h a d n o t y e t r e a c h e d
t h e s t a g e o f b e i n g a b l e t o c o m p e t e w i t h t h e Ro t h s c h i l d s
o u t s i d e F r a n c e
. Ev e r y o n e , e v e n t h e Pa p a l S t a t e s , s t i l l a p -
p l i e d t o t h e Ro t h s c h i l d s w h e n i n n e e d o f m o n e y . D u r i n g
N a p o l e o n ' s p r e s i d e n c y Ro m e h a d b e e n t h e s c e n e o f d r a -
m a t i c e v e n t s
. It w a s h o p e d i n It a l y t h a t t h e n a t i o n a l i s t a n d
l i b e r a l Po p e Pi u s IX w o u l d j o i n t h e g e n e r a l m o v e m e n t
a g a i n s t Au s t r i a
. He , h o w e v e r , f e a r e d t h e s p i r i t o f a n a r c h y
f o m e n t e d b y t h e r e v o l u t i o n , a n d a n y t o o g r e a t e x t e n s i o n
o f d e m o c r a c y , w h i l e h e a l s o h e s i t a t e d t o e n t e r u p o n o p e n
h o s t i l i t i e s a g a i n s t Ca t h o l i c Au s t r i a
. Th e r e s u l t w a s t o
p r o d u c e t h e e x c i t i n g N o v e m b e r d a y s i n Ro m e , w h e n t h e
Po p e ' s p a l a c e w a s b e s i e g e d b y t h e m o b , a n d t h e Ho l y
F a t h e r w a s c o m p e l l e d u n d e r t h r e a t s t o a p p o i n t a r a d i c a l
m i n i s t r y
. Th e r e u p o n t h e h e a d o f Ch r i s t e n d o m f l e d i n d i s -
g u i s e t o G a e t a i n N e a p o l i t a n t e r r i t o r y , w h e n c e h e p r o -
t e s t e d a g a i n s t a n y d e e d s o f v i o l e n c e i n Ro m e w h i l e t h e
Ro m a n Re p u b l i c w a s b e i n g s e t u p
i n t h e Re s i d e n c e o f t h e
Pa p a l S t a t e s .
_ O n F e b r u a r y 2 0 ,
1 8 4 9 , Pi u s IX a p p l i e d t o t h e Ca t h o l i c
Po w e r s , F r a n c e , Au s t r i a , S p a i n , a n d N a p l e s a n d S i c i l y ,
b e g g i n g t h e m t o a s s i s t h i m w i t h t h e i r a r m s t o r e g a i n h i s
t e m p o r a l p o w e r
. L o u i s N a p o l e o n , w h o a t t h a t t i m e w i s h e d
t o w i n t h e s u p p o r t o f Ca t h o l i c s t h r o u g h o u t t h e w o r l d w i t h
a v i e w t o h i s u l t i m a t e i m p e r i a l s c h e m e s , d i d a c t u a l l y l a n d
t r o o p s i n Ap r i l , 1 8 4 9 , t o m a r c h o n Ro m e
. Af t e r v a r i o u s
v i c i s s i t u d e s t h e F r e n c h o c c u p i e d t h e c i t y o n J u l y 3 a n d r e -
i n s t a t e d t h e p a p a l g o v e r n m e n t
. M e a n w h i l e t h e Po p e
w a s
l i v i n g a t G a e t a i n w r e t c h e d c i r c u m s t a n c e s a n d w a s i n
Co u n t Ca m i l l o Ca v o u r
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 7 3
g r e a t n e e d o f m o n e y
. Th i s w a s p a r t i c u l a r l y n e c e s s a r y f o r
h i s r e t u r n , s i n c e h e c o u l d n o t r e e n t e r h i s c a p i t a l w i t h
e m p t y h a n d s
. Th e Po p e a c c o r d i n g l y e n t e r e d i n t o n e g o -
t i a t i o n s w i t h a c o m p a n y o f F r e n c h c a p i t a l i s t s , b u t i t s o o n
t r a n s p i r e d t h a t t h e b a n k w h i c h w a s b a c k i n g t h e s e p e o p l e
h a d n o t t h e n e c e s s a r y f u n d s a t i t s d i s p o s a l
. Pi u s IX w a s
t h e r e f o r e a d v i s e d t o a p p l y a g a i n t o t h e Ho u s e o f Ro t h s -
c h i l d , w h o s e i n t e r n a t i o n a l c o n n e c t i o n s w e r e s u c h t h a t ,
e v e n s o s o o n a f t e r t h e r e v o l u t i o n a r y e v e n t s t h a t h a d
o c c u r r e d t h r o u g h o u t Eu r o p e , t h e y c o n t r o l l e d t h e n e c e s -
s a r y a m o u n t o f m o n e y
.
Th e p a p a l e n v o y a t N a p l e s a c c o r d i n g l y g o t i n t o t o u c h
w i t h Ca r l Ro t h s c h i l d , b u t t h e t e r m s o f f e r e d b y t h e l a t t e r
s e e m e d t o h i m t o b e w h o l l y u n a c c e p t a b l e
. As h a s a l r e a d y
b e e n p o i n t e d o u t , t h e r e c o u l d b e n o q u e s t i o n o f t h e Po p e
r e t u r n i n g t o Ro m e u n t i l t h e l o a n w a s s e t t l e d
. Ca r l m a d e
i t a c o n d i t i o n f o r g r a n t i n g t h e l o a n t h a t t h e g a t e s a n d
w a l l s o f t h e g h e t t o s h o u l d b e a b o l i s h e d , t h a t J e w s s h o u l d
b e a l l o w e d t o l i v e w h e r e t h e y p l e a s e d i n t h e Pa p a l S t a t e s ,
a n d t h a t a l l s p e c i a l t a x e s a n d s e p a r a t e f o r m s o f p r o c e d u r e
f o r d e a l i n g w i t h J e w s i n t h e c o u r t s s h o u l d b e a b o l i s h e d
.
Th e s e c r e t a r y o f t h e J e w i s h c o m m u n i t y a t Ro m e h a d
c o m e t o N a p l e s t o d i s c u s s t h e s e r e q u e s t s
. Ca r l a l s o d e -
m a n d e d a m o r t g a g e o n t h e e c c l e s i a s t i c a l e s t a t e s a s s e c u r i t y
s i n c e , a s h i s s o n p u t i t t o t h e Au s t r i a n m i n i s t e r a t N a p l e s ,
Co u n t M o r i t z Es t e r h a z y , i t w a s " d i f f i c u l t i n v i e w o f t h e
c o m p l e t e a b s e n c e o f a n y m a t e r i a l o r m o r a l g u a r a n t y o f -
f e r e d b y t h e p r e s e n t p a p a l g o v e r n m e n t , t o e n t e r i n t o a
t r a n s a c t i o n i n v o l v i n g s u c h a l a r g e s u m o f m o n e y w i t h o u t
a m o r t g a g e
. "
Th e f i r s t c o n d i t i o n s w e r e a t o n c e d e f i n i t e l y r e j e c t e d b y
t h e Po p e , w h o r e f u s e d e v e n t o c o n s i d e r s u c h d e m a n d s a s
c o n d i t i o n s
. He s t a t e d t h a t h e w o u l d p r e f e r t o s u f f e r a n
i n d e f i n i t e p e r i o d o f f i n a n c i a l m i s e r y r a t h e r t h a n i n c u r t h e
r e p r o a c h o f h a v i n g s u b o r d i n a t e d h i g h e r t o t e m p o r a l i n -
t e r e s t s
. Th e s e c o n d s e t o f c o n d i t i o n s s e e m e d t o Ca r l Ro t h s -
c h i l d a t G a e t a t o h a v e a g r e a t e r c h a n c e o f b e i n g a c c e p t e d .
2 7 4 .

Th e Re i g n o f t h e Ho u s e
o f Ro t h s c h i l d
Th e n e g o t i a t i o n s p r o c e e d e d a c t i v e l y a t N a p l e s , b u t f i n a l l y
Ca r l d e c l a r e d , s i n c e t h e e c c l e s i a s t i c a l a u t h o r i t i e s w e r e
s t r o n g l y o p p o s i n g t h e m o r t g a g e a s w e l l , t h a t h e h a d e x -
c e e d e d t h e i n s t r u c t i o n s o f h i s Ho u s e , a n d t h a t J a m e s
Ro t h s c h i l d i n Pa r i s s h o u l d b e a p p r o a c h e d w i t h a v i e w
t o c o n t i n u i n g t h e n e g o t i a t i o n s .
Pi u s IX a c c o r d i n g l y s e n t a r e q u e s t d i r e c t t o t h e F r e n c h
g o v e r n m e n t , a s k i n g t h e m t o u s e t h e i r i n f l u e n c e w i t h t h e
Ho u s e o f Ro t h s c h i l d . W h e n t h e p a p a l n u n c i o t r a n s m i t t e d
t h i s r e q u e s t , b o t h L o u i s N a p o l e o n p e r s o n a l l y a n d t h e
Pa r i s c a b i n e t a p p r o a c h e d J a m e s w i t h t h e r e q u e s t t h a t h e
w o u l d o f f e r t h e Po p e a c c e p t a b l e c o n d i t i o n s . " J a m e s d e -
c i d e d t h a t t h e Ho u s e d i d n o t s t a n d t o l o s e m u c h , s i n c e t h e ,
p a p a l g o v e r n m e n t w a s j u s t a b o u t t o b e r e i n s t a t e d , a n d i t s
c o n t i n u a n c e i n o f f i c e w o u l d b e g u a r a n t e e d b y t h e Ca t h o l i c
Po w e r s . J a m e s a l s o m e n t i o n e d t h e w i s h e s o f t h e J e w s i n
Ro m e , a n d r e f e r r e d t o t h e a b o l i t i o n o f t h e g h e t t o w a l l s
a n d t h e q u e s t i o n o f e x t r a o r d i n a r y t a x e s a n d r e s t r i c t i o n s o n
t h e i r l i b e r t y o f m o v e m e n t .
S u c h c o n d i t i o n s a f f e c t e d t h e Po p e u n p l e a s a n t l y , a s t h e y
c o n s t i t u t e d a n o b v i o u s i n t e r f e r e n c e i n t h e i n t e r n a l a f f a i r s
o f h i s s t a t e . Ho w e v e r , t h e Po p e d i d n o t w i s h t h e n e g o t i a -
t i o n s t o b r e a k d o w n o n a c c o u n t o f t h e s e d e m a n d s . J a m e s
w a s a c c o r d i n g l y i n f o r m e d t h a t t h e c o n c e s s i o n s w h i c h h e
w a s a s k i n g f o r h i s c o - r e l i g i o n i s t s w e r e t o a
l a r g e e x t e n t
a l r e a d y i n f o r c e , a n d t h a t h i s Ho l i n e s s c o u l d n o t e x p o s e
h i m s e l f t o t h e s u s p i c i o n o f h a v i n g g r a n t e d c o n c e s s i o n s a f -
f e c t i n g q u e s t i o n s o f r e l i g i o n o n a c c o u n t o f t h e f i n a n c i a l
d i f f i c u l t i e s f r o m w h i c h h e w a s s u f f e r i n g . " He t h e n g a v e a
w r i t t e n a s s u r a n c e t o J a m e s , t h r o u g h M o n s i g n o r F o r n a -
r i n i , t h e p a p a l n u n c i o i n Pa r i s ,
1 3 t o t h e e f f e c t t h a t t h e
Ho l y F a t h e r h a d t h e b e s t i n t e n t i o n s w i t h r e g a r d t o t h e
J e w s i n h i s S t a t e s a n d t h a t t h e n u n c i o w a s a u t h o r i z e d t o
r e p e a t t o h i m t h a t t h e Ho l y F a t h e r w o u l d n o t w i t h d r a w
h i s p r o m i s e s i n t h a t m a t t e r . Th i s a l s o i n v o l v e d a n e d i c t
r e g a r d i n g t h e a b o l i t i o n o f t h e g h e t t o .
Th e f i n a l d i f f i c u l t i e s h a d t h u s b e e n d i s p o s e d o f , a n d t h e
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 7 5
m o n e y w a s p a i d b y t h e Ro t h s c h i l d s i n t o t h e p a p a l t r e a s u r y
o n v e r y f a v o r a b l e t e r m s . 1 4
Th e f i n a l o b s t a c l e t o t h e r e t u r n
o f h i s Ho l i n e s s t o Ro m e w a s r e m o v e d .
Af t e r t h e s a t i s f a c t o r y c o n c l u s i o n o f t h e s e d i f f i c u l t m a t -
t e r s t h e Po p e t o o k h i s l e a v e o f t h e K i n g o f N a p l e s , w h o
h a d o f f e r e d h i m a r e f u g e i n t h e s e t r y i n g t i m e s , a n d o n
Ap r i l 1 2 ,
i 8 5 0 ,
h e m a d e h i s e n t r y i n t o Ro m e .
Th e Ro t h s c h i l d s h a d t h e r e f o r e p r o v i d e d t h e m o n e y f o r
t h e r e t u r n o f t h e Po p e , w i t h o u t h a v i n g s e c u r e d a f o r m a l
a s s u r a n c e r e g a r d i n g t h e b e t t e r m e n t o f t h e l o t o f t h e i r c o -
r e l i g i o n i s t s i n a n y t h i n g b u t t h e m o s t g e n e r a l t e r m s . Ca r l
Ro t h s c h i l d w e n t t o Ro m e s h o r t l y a f t e r w a r d , a n d o n t h i s
o c c a s i o n h e a g a i n h e a r d t h e m o s t p a i n f u l l a m e n t a t i o n s
a b o u t t h e l o t o f t h e J e w s , w h i c h , i n s p i t e o f e v e r y t h i n g ,
h a d n o t b e e n i m p r o v e d . He t h e r e f o r e d e c i d e d t o a s k
Pr i n c e S c h w a r z e n b e r g t o i n t e r v e n e w i t h t h e Ho l y S e e .
" D u r i n g m y l a s t s t a y i n Ro m e , " h e w r o t e t o t h e p r i m e
m i n i s t e r , 1 6 " Iw a s b r o u g h t , b o t h b y p e r s o n a l o b s e r v a t i o n
a n d b y h e a r i n g t h e r e p r e s e n t a t i o n s o f t h e l e a d e r s o f t h e
J e w i s h Co m m u n i t y t h e r e , t o t h e c o n v i c t i o n t h a t t h e i r l o t
i s a v e r y h a r d o n e , a n d i n v i e w o f t h e i r p r e s s i n g r e q u e s t s
Iw a s u n a b l e t o r e f r a i n f r o m p r o m i s i n g t h a t Iw o u l d u s e
s u c h f e e b l e i n f l u e n c e a s Im i g h t p o s s e s s , w i t h s u c h i n f l u -
e n t i a l p e r s o n s a s m a y b e w i l l i n g t o l i s t e n t o m e f a v o r a b l y ,
t o s e c u r e t h e b e t t e r m e n t o f t h e i r l o t
. "
He w e n t o n t o s t a t e t h a t h e a n d h i s w h o l e f a m i l y h a d
t h e m o s t k e e n a n d l i v e l y s y m p a t h y f o r t h e s u f f e r i n g s o f
t h a t c o m m u n i t y , a n d h e b e g g e d t h e i m p e r i a l g o v e r n m e n t ,
w h i c h o f f e r e d s u c h a m o v i n g e x a m p l e i n t h e w a y i t
g r a n t e d i t s e q u a l p a t e r n a l p r o t e c t i o n t o a l l c o n f e s s i o n s
a l i k e , t o u s e i t s a s c e n d a n c y a n d i t s p o w e r f u l i n f l u e n c e w i t h
t h e Ho l y S e e o n t h e i r b e h a l f . S c h w a r z e n b e r g i n s t r u c t e d
Co u n t Es t e r h a z y t o m a k e r e p r e s e n t a t i o n s i n Ro m e , b u t i t
w a s a l o n g t i m e b e f o r e t h e m a t t e r w a s s e t t l e d
.
O n r e c e i v i n g a l e t t e r o f c o m p l a i n t f r o m t h e J e w i s h
Co m m u n i t y i n Ro m e , 1 6
J a m e s a l s o a p p l i e d t o t h e Au s t r i a n
g o v e r n m e n t
. " He s u g g e s t e d t h a t t h e Po p e w a s n o t a w a r e
2 7 6

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
t h a t t h e J e w s h a d a g a i n b e e n c o n f i n e d t o t h e g h e t t o , a n d
s u b j e c t e d t o e v e r y p o s s i b l e k i n d o f r e s t r i c t i o n
. Es t e r h a z y
w a s a g a i n
. i n s t r u c t e d t o d i s c u s s t h e m a t t e r i n a f r i e n d l y
w a y w i t h t h e Po p e , a n d t h i s w a s d o n e o n s e v e r a l f u r t h e r
o c c a s i o n s ; t h e r e a s o n b e i n g t h a t t h e Au s t r i a n g o v e r n m e n t
w a s j u s t a t t h a t t i m e n e g o t i a t i n g w i t h t h e Ro t h s c h i l d s f o r
a s t e r l i n g l o a n .
In s p i t e o f h a v i n g r e s u m e d i t s g o o d r e l a t i o n s w i t h Au s -
t r i a , t h e Ho u s e o f Ro t h s c h i l d w a s c o n s t a n t l y e n g a g e d i n
l o a n n e g o t i a t i o n s w i t h S a r d i n i a , t h e e n e m y o f t h e Pa p a l
g o v e r n m e n t
. Th a t s t a t e w a s s u f f e r i n g a c u t e l y f r o m t h e
c o n s e q u e n c e s o f t h e u n f o r t u n a t e w a r w i t h Au s t r i a w h i c h ,
a f t e r Ra d e t z k y ' s s u c c e s s e s a t M o r t a r a a n d N o v a r a , h a d
c o s t K i n g Al b e r t h i s c r o w n
. As t h e k i n g f e l t t h a t f o r t u n e
w a s a g a i n s t h i m , h i s s o n Vi c t o r Em a n u e l h a d t o g o t h e
h a r d r o a d o f c o n c l u d i n g a p e a c e w i t h Au s t r i a w h i c h w a s
s i g n e d i n M i l a n o n Au g u s t 6 . He s u c c e e d e d i n a v o i d i n g
a n y s u r r e n d e r o f t e r r i t o r y , b u t Au s t r i a r e q u i r e d a h e a v y
w a r i n d e m n i t y f o r t h e p a y m e n t o f w h i c h t h e s t a t e o f
S a r d i n i a h a d t o i n c u r a h e a v y l o a d o f d e b t a n d e n t e r t h e
i n t e r n a t i o n a l f i n a n c i a l m a r k e t s a s a n a p p l i c a n t f o r l o a n s .
At t h a t t i m e t h e b a n k e r G i o v a n n i N i g r a w a s S a r d i n i a ' s
f i n a n c e m i n i s t e r ; a l t h o u g h o n l y m o d e r a t e l y e n d o w e d w i t h
f i n a n c i a l g i f t s , h e h a d d a r e d a t t h i s d i f f i c u l t m o m e n t t o
t a k e o v e r t h e d i r e c t i o n o f t h e s t a t e f i n a n c e s . He w a s a t t h a t
t i m e o n f r i e n d l y t e r m s w i t h Co u n t Ca m i l l o d i Ca v o u r ,
w h o d i d n o t t h e n h o l d a n y p u b l i c o f f i c e , a l t h o u g h h e w a s
a l r e a d y a m e m b e r o f Pa r l i a m e n t . It w a s w i t h h i m , h i s
a u t h o r i t y i n s u c h m a t t e r s b e i n g a l r e a d y r e c o g n i z e d , t h a t
N i g r a m o s t l y d i s c u s s e d e c o n o m i c q u e s t i o n s
.
Ev e n b e f o r e t h e c o n c l u s i o n o f p e a c e , t h e f i n a n c e m i n -
i s t e r h a d g o t i n t o t o u c h w i t h Ro t h s c h i l d , w h o h a d a s k e d
h i m w h a t w o u l d b e t h e a m o u n t o f t h e w a r i n d e m n i t y d e -
m a n d e d b y Au s t r i a
. B u t i t w a s n o t u n t i l a f t e r t h e c o n -
c l u s i o n o f p e a c e t h a t s e r i o u s n e g o t i a t i o n s w e r e s t a r t e d
.
J a m e s c a m e f r o m Pa r i s t o Tu r i n t o c o n d u c t t h e m w i t h
N i g r a , a n d a l s o c a m e i n t o t o u c h w i t h Ca v o u r
. Ro t h s c h i l d
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 7 7
a n d Ca v o u r o n c e d i n e d t o g e t h e r w i t h N i g r a
.
1 S
J a m e s w a s
a t f i r s t s o m e w h a t s u s p i c i o u s ; h e a s k e d f o r i n f o r m a t i o n r e -
g a r d i n g t h e i n t e r n a l a r r a n g e m e n t s o f S a r d i n i a ' s f i n a n c e s
a n d i t w a s n o t u n t i l h e h a d b e e n c o n v i n c e d t h a t t h e s t a t e
o f S a r d i n i a h a d a c h i e v e d c l a r i t y a n d o r d e r i n i t s o w n
a f f a i r s t h a t h e b e c a m e m o r e a m e n a b l e .
Ca v o u r e x p r e s s e d t h e f o l l o w i n g o p i n i o n o n Ro t h s -
c h i l d : 1 9 " He i s r e a l l y m o s t a n x i o u s t o h a v e s e r i o u s d e a l -
i n g s w i t h t h i s c o u n t r y , a n d h e h a s r e p e a t e d l y t o l d m e
t h a t i n s p i t e o f e v e r y t h i n g h e r e g a r d s t h e S t a t e o f Pi e d -
m o n t a s e s t a b l i s h e d o n a f i r m e r b a s i s t h a n t h a t o f Au s t r i a . "
J a m e s h a d b e e n b r o u g h t t o t h i s o p i n i o n b y t h e e x p e r i -
e n c e s o f h i s b r o t h e r S o l o m o n a t Vi e n n a a n d b y e v e n t s i n
Hu n g a r y . N i g r a a l s o c a r r i e d o n n e g o t i a t i o n s w i t h J a m e s
Ro t h s c h i l d i n d e p e n d e n t l y o f Ca v o u r , w h o w i s h e d t o
l e a v e a s s m a l l a s h a r e a s p o s s i b l e o f t h e l o a n t o t h e It a l i a n
b a n k e r s . Ca v o u r h a d h o p e d t h a t t e n t o t w e l v e m i l l i o n s
w o u l d b e a l l o t t e d t o t h e Tu r i n a n d G e n e v a b a n k e r s , p a r t
o f w h i c h a m o u n t h e h a d w i s h e d t o b e r e s e r v e d f o r t h e
S w i s s b a n k e r d e l a Ru e , w h o w a s a f r i e n d o f h i s a n d i n
c l o s e b u s i n e s s r e l a t i o n s w i t h h i m
. O n t h e e v e n i n g o f
O c t o b e r 4 ,
1
8 4 9 , N i g r a h a d a l o n g c o n f e r e n c e w i t h Ro t h s -
c h i l d , i n t h e c o u r s e o f w h i c h h e a l l o w e d h i m s e l f t o b e
p e r s u a d e d t o r e s e r v e f o r t h e It a l i a n b a n k e r s o n l y 8 , o o o ,
c o o o u t o f t h e 6 2 , 0 0 0 , 0 0 0 f r a n c l o a n . Ca v o u r , w h o k n e w
n o t h i n g o f t h i s , w e n t t o Ro t h s c h i l d t h e s a m e e v e n i n g t o
a s k h i m f o r 6 o o , o o o f r a n c s ' w o r t h o f b o n d s f o r d e l a Ru e ,
o r r a t h e r t o i n f o r m h i m t h a t t h e b a n k e r w o u l d u n d e r w r i t e
t h a t a m o u n t .
" Th e o l d J e w , " Ca v o u r w r o t e d e l a Ru e
' 2 0
r e p l i e d w i t h
a s m i l e t h a t y o u w e r e a c t i n g v e r y w i s e l y , a n d t h a t i t w o u l d
b e b e t t e r f o r y o u t o b u y r e n t e s i n Tu r i n a n d G e n o a t h a n
i n Pa r i s . It h o u g h t t h a t e v e r y t h i n g w a s g o i n g t h r o u g h
s p l e n d i d l y , f o r i t w a s n o t u n t i l a f t e r w a r d t h a t B o m b r i n i
2 1
i n f o r m e d m e o f N i g r a ' s d e f e c t i o n . U n d e r t h e s e c o n d i t i o n s
Ic a n n o t a s k Ro t h s c h i l d f o r a n y f a v o r s , f o r t h a t w o u l d
m a k e m e a n a c c e s s o r y t o a n o p e r a t i o n w h i c h Ic o n s i d e r t o
2 7 8

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
b e o p p o s e d t o t h e b e s t i n t e r e s t s o f t h e c o u n t r y
. Iw i l l a c -
c e p t n o b o n d s f r o m h i m t h a t h e d o e s n o t o f f e r f r e e l y t o a l l
t h e h o u s e s t h a t w i s h t o a p p l y f o r t h e m .
" Ia m f u r i o u s , " Ca v o u r c o n t i n u e d , " a n d Ih a v e e v e r y
r e a s o n t o b e l i e v e t h a t N i g r a h a s a l l o w e d h i m s e l f t o b e
b a m b o o z l e d b y t h a t c u n n i n g o l d r a s c a l Ro t h s c h i l d . . . .
N i g r a 2 2 l e f t m e o u t o f t h e n e g o t i a t i o n s , o n l y c a l l i n g m e
i n w h e n t h e a g r e e m e n t w a s t o b e s i g n e d . If l a t t e r m y s e l f
t h a t i f Ih a d b e e n i n h i s p l a c e Is h o u l d h a v e g o t b e t t e r
t e r m s . Ih a d w o r k e d o u t a s c h e m e t h r o u g h w h i c h i t
w o u l d h a v e b e e n p o s s i b l e t o d i s p e n s e w i t h Ro t h s c h i l d . I
u s e d t h i s s c h e m e t o c o u n t e r s o m e o f h i s d e m a n d s , b u t
c o u l d n o t a l t e r t h e b a s i s o f t h e a g r e e m e n t , w h i c h h a d b e e n
d e f i n i t e l y f i x e d . N i g r a ' s g r e a t m i s t a k e h a s b e e n t h a t h e
h a s n o t h a d e n o u g h c o n f i d e n c e i n t h e c a p a c i t y o f o u r o w n
b a n k s t o t a k e u p t h e l o a n . . . . Th i s m o r n i n g a He r r v o n
L a n d a u
2 8
c a l l e d t o o f f e r m e o n b e h a l f o f Ro t h s c h i l d a s
m a n y r e n t e s
` , a u p r i x c o u t a n t '
a s Iw a n t e d
. As y o u m a y
i m a g i n e , Ir e f u s e d t h i s o f f e r , b u t i t g a v e m e s o m e i d e a o f
t h e w a y b u s i n e s s i s d o n e i n m o s t o f t h e Eu r o p e a n c a b -
i n e t s . "
Af e w d a y s l a t e r , t h e l o a n h a d b e e n f u l l y s u b s c r i b e d 2 4
It w a s s o p o p u l a r w i t h t h e It a l i a n p e o p l e t h a t t h e f i n a n c e
m i n i s t r y w a s b e s i e g e d b y a m o b w h o p o s i t i v e l y f o u g h t t o
g e t r i d o f t h e i r m o n e y
. Tu r i n a l o n e c o u l d h a v e a b s o r b e d
f a r m o r e t h a n n i n e m i l l i o n s .
" N i g r a i s b e i n g r o u n d l y a b u s e d [ o n j e t t e l e s h a u t s
c r i s ] , " w r o t e Ca v o u r ; " t h e p o o r f e l l o w h a d t h e b e s t i n -
t e n t i o n s i n t h e w o r l d a n d h o n e s t l y b e l i e v e d t h a t t h e c o u n -
t r y w o u l d b e s a t i s f i e d w i t h e i g h t m i l l i o n s . Ia m c o n v i n c e d
t h a t i f t h e l o a n h a d b e e n o p e n e d o n t h e f i r s t o f t h i s m o n t h ,
a n d i f , a s Is u g g e s t e d , b i l l s o n L o n d o n a n d Pa r i s h a d b e e n
a c c e p t e d i n p a y m e n t , w e c o u l d h a v e d i s p e n s e d w i t h t h e
Ro t h s c h i l d s . "
W e s e e , a l t h o u g h h e h a d n o o f f i c i a l p o s i t i o n , h o w g r e a t
a n i n t e r e s t Ca v o u r w a s a l r e a d y t a k i n g i n t h e f i n a n c i a l
b u s i n e s s o f t h e s t a t e a n d h o w m u c h h e r e s e n t e d t h e f a c t
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 7 9
t h a t h i s c o u n t r y h a d c o m e t o b e s o d e p e n d e n t o n t h e Ho u s e
o f Ro t h s c h i l d
. He h a d a l r e a d y m a d e u p h i s m i n d , i f h e
s h o u l d e v e r h a v e a n y t h i n g t o s a y i n t h e m a t t e r , t o m a k e a
r a d i c a l c h a n g e f r o m t h i s s t a t e o f a f f a i r s
.
N e v e r t h e l e s s t h e l o a n w a s a g r e a t s u c c e s s f o r S a r d i n i a ,
a n d t h e c o u n t r y h a d r e a s o n t o c o n g r a t u l a t e i t s e l f o n i t s
r e l a t i o n s w i t h t h e Ro t h s c h i l d b a n k .
Th e l o a n , h o w e v e r , d i d n o t s u f f i c e t o r e l i e v e S a r d i n i a o f
a l l h e r p r e s s i n g o b l i g a t i o n s , o r t o c o v e r t h e d e f i c i t i n t h e
b u d g e t . N i g r a t h e r e f o r e h a d t o l o o k a b o u t f o r _ a f u r t h e r
l o a n ; b u t o n t h i s o c c a s i o n h i s u n o f f i c i a l f i n a n c i a l a d v i s e r
Ca v o u r m e a n t t o k e e p a c l o s e r w a t c h o v e r h i s i n e x p e r i -
e n c e d f r i e n d a n d f e l l o w c o u n t r y m a n . " N i g r a i s c o n -
s t a n t l y c o r r e s p o n d i n g w i t h Ro t h s c h i l d , " Ca v o u r w r o t e a t
t h e b e g i n n i n g o f t h e y e a r i 8 5 0 . 2 6 " Is h a l l s e e t o i t t h a t h e i s
n o t b a m b o o z l e d . "
Ro t h s c h i l d , w h o h a d a l r e a d y m a d e u p h i s m i n d t o u n -
d e r w r i t e t h e s e c o n d l o a n , a s s u m e d a n a t t i t u d e o f i n d i f f e r -
e n c e t o w a r d N i g r a , i n o r d e r t o s e c u r e b e t t e r c o n d i t i o n s ,
a n d h e m a d e e v e r y e f f o r t t o i n s u r e t h a t t h e f i r s t l o a n
s h o u l d b e q u o t e d a s l o w a s p o s s i b l e o n t h e b o u r s e , s o
t h a t h e w o u l d n o t h a v e t o o f f e r t o o h i g h a r a t e f o r t h e
s e c o n d .
Th e s l u m p i n t h e b o n d s a n d Ro t h s c h i l d ' s a p p a r e n t r e -
l u c t a n c e g r e a t l y d i s c o n c e r t e d N i g r a
. It n e v e r e v e n o c -
c u r r e d t o h i m t h a t a n e f f o r t m i g h t b e m a d e t o r a i s e t h e
l o a n t h r o u g h a n o t h e r h o u s e .
" If t h e b o n d s r e f u s e t o r i s e i n v a l u e , " Ca v o u r w r o t e , "
" i t i s N i g r a w h o i s t o b l a m e , s i n c e , a s h e o w e s Ro t h s c h i l d
2 1 , 0 0 0 , 0 0 0
h e c a n n o t m a k e u p h i s m i n d t o e n t e r i n t o n e -
g o t i a t i o n s f o r t h e n e w l o a n . Y o u w i l l u n d e r s t a n d t h a t u n -
t i l t h e b a r o n h a s d e f i n i t e l y s e c u r e d i t , h e w i l l c o n t i n u e t o
d e p r e s s t h e m a r k e t . O n l y a n i n g e n u o u s p e r s o n w o u l d f a i l
t o a p p r e c i a t e t h i s f a c t
. "
In t h e e n d J a m e s w a s a f r a i d t h a t h e m i g h t f a i l t o s e c u r e
t h e h a n d l i n g o f t h e l o a n a n d h e d e c i d e d t o g o t o Tu r i n
a g a i n h i m s e l f .
2 8 0

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
" Ih a v e b e e n d e f i n i t e l y i n f o r m e d , " Ca v o u r w r o t e o n
S e p t e m b e r
2 1 ,
1 8 5 0 , 2 1
" t h a t t h e g r e a t b a r o n w i l l s h o r t l y
a r r i v e a t Tu r i n . N i g r a i s e x t r a o r d i n a r i l y n e r v o u s , a n d I
c a n n o t u n d e r s t a n d w h y
; f o r i f Ro t h s c h i l d t a k e s t h e
t r o u b l e t o c o m e h e r e , h e w i l l c e r t a i n l y n o t l e a v e w i t h -
o u t h a v i n g c o n c l u d e d h i s l o a n , e v e n i f i t c o s t s h i m o n e
p e r c e n t m o r e t o d o s o . "
Ca v o u r w a s a t t h e t i m e k e e p i n g a w a y f r o m Tu r i n , a l -
t h o u g h h e w a s a l r e a d y g e n e r a l l y r e g a r d e d a s a c a n d i d a t e
f o r t h e m i n i s t r y a n d h a d h a d o c c a s i o n t o e n t e r i n t o l e n g t h y
d i s c u s s i o n s o n t h i s m a t t e r
. Th a t b e i n g t h e p o s i t i o n , i f h e
h a d t a k e n a p e r s o n a l p a r t i n t h e l o a n n e g o t i a t i o n s , h e
w o u l d h a v e g i v e n t h e i m p r e s s i o n o f a l r e a d y a c t i n g a s
f i n a n c e m i n i s t e r , w i t h o u t a c t u a l l y b e i n g , a m i n i s t e r
.
" Ih a v e p r o l o n g e d m y a b s e n c e f r o m Tu r i n , " Ca v o u r
s t a t e d , 2 8
" i n o r d e r n o t t o h a v e t o a s s o c i a t e w i t h Ro t h s c h i l d .
If e l t t h a t i t w o u l d h a v e b e e n h a r d l y f i t t i n g f o r m e , i n
v i e w o f m y p r e s e n t a b n o r m a l p o s i t i o n , t o i n t e r f e r e i n t h e
l o a n n e g o t i a t i o n s . "
O n t h e v e r y d a y o n w h i c h Ca v o u r w r o t e t h i s l e t t e r , t h e
M a r q u i s d ' Az e g l i o , S a r d i n i a ' s p r i m e m i n i s t e r a n d m i n i s -
t e r f o r f o r e i g n a f f a i r s , s u m m o n e d Ca v o u r , a n d a s k e d h i m
t o a c c e p t t h e p o r t f o l i o f o r a g r i c u l t u r e , t r a d e , a n d s h i p -
p i n g
. Ca v o u r a s s e n t e d , a l t h o u g h , a s h e h i m s e l f s a i d ,
2 1 '
h e
k n e w n o t h i n g a b o u t s h i p p i n g
. Ha v i n g n o w , a s a m i n i s t e r ,
b e c o m e a m e m b e r o f t h e c a b i n e t , t h i s b r i l l i a n t m a n h e s i -
t a t e d n o l o n g e r t o i n t e r v e n e i n m a t t e r s o f f i n a n c e a n d i n
N i g r a ' s d e p a r t m e n t , a l t h o u g h h e w a s n a t u r a l l y u n a b l e a s
y e t t o e x e r c i s e a d e t e r m i n i n g i n f l u e n c e i n f i n a n c i a l m a t -
t e r s .
Th e s e c o n d l o a n , a n n u i t i e s o f
6 , 0 0 0 , 0 0 0 ,
r e p r e s e n t i n g a
c a p i t a l v a l u e o f r
2 o , o o o , o o o ,
w a s c o n c l u d e d b y N i g r a
w i t h Ro t h s c h i l d
. F o u r m i l l i o n s o f a n n u i t i e s w e r e l e f t t o
Ro t h s c h i l d t o s e l l , N i g r a r e t a i n i n g
2 , 0 0 0 , 0 0 0 t o b e d i s -
p o s e d o f a t h i s d i s c r e t i o n
. Th e r e s u l t w a s t h a t t h e p u b l i c
f i n a n c e s o f t h e s t a t e o f S a r d i n i a b e c a m e v e r y c l o s e l y
b o u n d u p w i t h t h e Ho u s e o f Ro t h s c h i l d , a n d Ca v o u r w a s
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 8 1
n o t a t a l l p l e a s e d t o s e e h i s c o u n t r y f a l l i n g s o e n t i r e l y
u n d e r t h e f i n a n c i a l i n f l u e n c e o f t h a t Ho u s e .
O n Pa r l i a m e n t a u t h o r i z i n g t h e m i n i s t r y o f f i n a n c e t o
i s s u e i 8 , o o o b o n d s i n o r d e r f u l l y t o r e p a y t h e d e b t t o Au s -
t r i a , Ca v o u r w a s d e t e r m i n e d t o f i n d a w a y o f m a k i n g h i s
c o u n t r y i n d e p e n d e n t o f t h e Ro t h s c h i l d s , a t a n y r a t e i n t h i s
m a t t e r . Ca v o u r c o n c e i v e d t h e p l a n o f s e l l i n g t h e s e s e c u r i -
t i e s i n Vi e n n a a n d F r a n k f o r t , a n d h e a s k e d d e l a Ru e t o
d i s c u s s t h i s s u g g e s t i o n w i t h h i s b u s i n e s s f r i e n d s i n t h o s e
t o w n s , G o l d s c h m i d t a n d S i n a
. " It i s a b u s i n e s s , " t h e m i n -
i s t e r w r o t e , $ " t h a t o u g h t t o a p p e a l t o t h e m
. Ib e l i e v e
t h a t t h e y w o u l d b e v e r y p l e a s e d t o s t e a l a m a r c h o n Ro t h s -
c h i l d , a n d i t w o u l d d e l i g h t m e t o p u t a s p o k e i n t h e w h e e l
o f t h a t J e w w h o i s c u t t i n g o u r t h r o a t s . "
Ca v o u r ' s i n f l u e n c e , h o w e v e r , w a s n o t a s g r e a t a s h e
c o u l d h a v e w i s h e d
. N i g r a w a s s t i l l m i n i s t e r o f f i n a n c e , a n d
t h e b o n d s w e r e n o t i m m e d i a t e l y i s s u e d
. N i g r a w a s n o t
e q u a l t o h i s t a s k
; t h e b u r d e n o f d e b t a n d t h e d e f i c i t c o n -
t i n u e d t o i n c r e a s e , a n d t h e s t a t e ' s f i n a n c e s f e l l m o r e a n d
m o r e u n d e r t h e i n f l u e n c e o f t h e Ro t h s c h i l d s
.
" Ia m g r e a t l y c o n c e r n e d a b o u t t h e f i n a n c i a l p o s i t i o n , "
Ca v o u r w r o t e t o t h e p r i m e m i n i s t e r a t t h e e n d o f M a r c h ,
1 8 5 1 ; 8 1 " N i g r a i s s h o c k i n g l y i n c o m p e t e n t
. "
Af t e r h e h a d t a k e n o f f i c e , Ca v o u r ' s o p p o s i t i o n t o t h e
f i n a n c e m i n i s t e r b e c a m e m o r e a n d m o r e p r o n o u n c e d
; i t
c u l m i n a t e d i n Ca v o u r o f f e r i n g t o r e s i g n d u r i n g t h e d i s -
c u s s i o n o f c o m m e r c i a l a g r e e m e n t s w i t h En g l a n d a n d B e l -
g i u m , i f N i g r a s h o u l d i n s i s t u p o n a d h e r i n g t o h i s s c h e m e
.
As N i g r a h i m s e l f f e l t t h e b u r d e n o f o f f i c e , t h e r e s u l t w a s
t h a t h e a n d n o t Ca v o u r r e s i g n e d .
In Ap r i l , 1 8 5 r , Ca v o u r w a s a c c o r d i n g l y a p p o i n t e d m i n =
i s t e r o f f i n a n c e , a n d o b t a i n e d t h e o p p o r t u n i t y o f d e m o n -
s t r a t i n g t h a t h e n o t m e r e l y k n e w h o w t o c r i t i c i z e , b u t w a s
a l s o c o m p e t e n t t o a c t
. It w a s c e r t a i n l y n o c h e e r f u l t a s k
t h a t h e t o o k o v e r
. O n l y r a t h e r m o r e , t h a n h a l f o f t h e 4 , -
o o o , o o o a n n u i t i e s u n d e r w r i t t e n b y J a m e s Ro t h s c h i l d h a d
b e e n s o l d , w h i l e N i g r a h a d a c c e p t e d a d v a n c e s f r o m t h e
2 8 2

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
Ho u s e o f Ro t h s c h i l d , s o t h a t S a r d i n i a o w e d t h a t Ho u s e
2 5 , o o o , o o o
. Th e r e w e r e s t i l l b a l a n c e s o n a c c o u n t o f t h e
w a r i n d e m n i t y d u e t o Au s t r i a , a n d t h e b u d g e t d e f i c i t
a m o u n t e d t o 6 8 , 0 0 0 , 0 0 0 .
In s p i t e o f t h e u n f a v o r a b l e c o n d i t i o n s o b t a i n i n g i n t h e
Pa r i s m a r k e t w h i c h m a d e i t d i f f i c u l t t o d i s p o s e o f t h e
4 , 0 0 0 , 0 0 0 w h i c h t h e Ro t h s c h i l d s h a d u n d e r w r i t t e n , t h e y
w i s h e d t o g e t i n t o t h e i r o w n h a n d s t h e r e m a i n i n g
2 , 0 0 0 , -
o o o w h i c h N i g r a h a d r e s e r v e d , a n d t h e y m a d e p r o p o s a l s
t o t h e n e w f i n a n c e m i n i s t e r t o t h i s e n d . Ca v o u r n o w h a d
h i s r e w a r d f o r h a v i n g m a i n t a i n e d h i s p e r s o n a l f r e e d o m
a n d i n d e p e n d e n c e w i t h r e g a r d t o t h e Ro t h s c h i l d s . He
f u l l y r e a l i z e d t h a t t h e o n l y w a y o f o b t a i n i n g f a v o r a b l e
t e r m s i n t h e f u t u r e w a s t o p r o v e t o t h e Ro t h s c h i l d s t h a t
t h e y h a d n o m o n o p o l y o f s t a t e l o a n s , a n d t h a t t h e s t a t e w a s
n o t s o e n t i r e l y d e p e n d e n t u p o n t h e m a s t h e y h a d b e e n
a b l e t o a s s u m e u n d e r N i g r a ' s a d m i n i s t r a t i o n
.
Ca v o u r m e a n t t o a v a i l h i m s e l f o f t h e En g l i s h m a r k e t ,
a n d f o r t h i s p u r p o s e h e a p p l i e d a s e a r l y a s Ap r i l
2 5 , 1 8 5 1 ,
s i x d a y s a f t e r h i s a p p o i n t m e n t a s m i n i s t e r o f f i n a n c e t o
S a r d i n i a ' s m i n i s t e r i n L o n d o n , t h e M a r q u i s Em m a n u e l
d ' Az e g l i o .
" W e m u s t , " h e w r o t e , 8 2
" a t a l l c o s t s e x t r i c a t e o u r s e l v e s
f r o m t h e p a i n f u l p o s i t i o n i n w h i c h w e a r e p l a c e d w i t h
r e g a r d t o t h e Ho u s e o f Ro t h s c h i l d
. Al o a n c o n c l u d e d i n
En g l a n d i s t h e o n l y m e a n s w h e r e b y w e c a n r e g a i n o u r i n -
d e p e n d e n c e . . . .
It i s n o t m y i n t e n t i o n i m m e d i a t e l y t o
b r e a k w i t h Ro t h s c h i l d , b u t m e r e l y t o s h o w h i m t h a t w e
c a n d o w i t h o u t h i m
. It i s p o s s i b l e , i t i s i n d e e d p r o b a b l e
t h a t w h e n h e r e a l i z e s t h a t o u r m i n d s a r e f i r m l y m a d e u p
h e w i l l t r y t o t a k e h i s s h a r e i n t h e o p e r a t i o n w h i c h w e
w a n t t o c a r r y t h r o u g h o n t h e L o n d o n S t o c k Ex c h a n g e
.
In s u c h a c a s e Iw o u l d h a v e n o o b j e c t i o n ' t o n e g o t i a t i n g
w i t h h i m , i f h e w e r e o n l y i n a g r e e m e n t w i t h o t h e r En g l i s h
b a n k e r s
. If w e d o n o t s p e e d i l y s u c c e e d i n c o n c l u d i n g a
l o a n i n L o n d o n , w e s h a l l f i n d o u r s e l v e s c o m p e l l e d a g a i n
t o p a s s t h r o u g h t h e Ca u d i n e F o r k s o f t h e Ro t h s c h i l d s
. "
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 8 3
" Th i s f i n a n c i a l o p e r a t i o n , " Ca v o u r w r o t e a t t h e s a m e
t i m e t o t h e d e p u t y , Co u n t Re v e l , " " i s o f a n i m p o r t a n c e
t h a t c a n n o t p o s s i b l y b e o v e r e s t i m a t e d
; i t a l o n e c a n l i b e r -
a t e u s f r o m o u r d e p e n d e n c e u p o n t h e Ho u s e o f Ro t h s -
c h i l d , w h i c h f o r s o m e t i m e h a s h a d s u c h a d e v a s t a t i n g
e f f e c t u p o n o u r c r e d i t . "
Ha v i n g o b t a i n e d p o w e r s f r o m Pa r l i a m e n t t o c o n c l u d e
t h e l o a n , Ca v o u r w a s p a r t i c u l a r l y i n c l i n e d t o c o n s i d e r t h e
Ho u s e o f C . J
. Ha m b r o a n d S o n , o r i g i n a l l y a D a n i s h f i r m
o f Co p e n h a g e n , w h i c h h a d s e t t l e d i n En g l a n d a f t e r t h e
1 8 4 8 r e v o l u t i o n s , t h e f a m i l y b e c o m i n g n a t u r a l i z e d
. In
J u l y o f t h a t y e a r Ca v o u r d i d i n f a c t s u c c e e d i n c o n c l u d i n g
t h e l o a n w i t h Ha m b r o
. He n o t e d t h i s s u c c e s s w i t h s a t i s -
f a c t i o n , a d d i n g : 3 4
" If w e h a d n o t s u c c e e d e d i n o b t a i n i n g
m o n e y i n En g l a n d t h e G o v e r n m e n t w o u l d h a v e b e e n c o m -
p e l l e d a g a i n t o f a l l i n t o t h e h a n d s o f t h e Ro t h s c h i l d s , a n d
t o a c c e p t s u c h t e r m s a s t h e y m i g h t h a v e b e e n p l e a s e d t o
f o r c e
u p o n t h e s t a t e , t e r m s w h i c h w o u l d h a v e b e e n a l l t h e
h a r d e r , a f t e r t h e M i n i s t r y h a d m a d e s u c h i n t e n s e e f f o r t s t o
e s c a p e f r o m t h e i r d o m i n a t i o n . M o r e o v e r , m y p e r s o n a l
p r e s t i g e , a s t h e n e w F i n a n c e M i n i s t e r , w o u l d h a v e s u f -
f e r e d a s e v e r e b l o w . "
Th e v a r i o u s b r a n c h e s o f t h e Ro t h s c h i l d s h a d o b s e r v e d
Ca v o u r ' s m a n e u v e r w i t h t h e g r e a t e s t d i s s a t i s f a c t i o n , a n d
h a d d o n e e v e r y t h i n g p o s s i b l e t o u p s e t t h e n e g o t i a t i o n s
.
" Th e l o a n , " Ca v o u r w r o t e t o Co u n t Re v e l , 3 6 " w a s c o n -
c l u d e d i n t h e n i c k o f t i m e , f o r i t s e e m s t o m e t h a t o u r
e n e m i e s h a d a l l b u t u n i t e d t h e w h o l e o f p u b l i c o p i n i o n
a g a i n s t u s
. Ib e l i e v e t h e a r t i c l e i n t h e Ti m e s " w a s i n -
s p i r e d b y t h e Ro t h s c h i l d s . B a r o n J a m e s s t a t e d p u b l i c l y
t h a t w e s h o u l d f a i l . In d e e d , h e m a d e a p u n a b o u t i t
:
' L ' e m p r u n t e t a i t o u v e r t , m a i s n o n c o u v e r t . "
Th i s w a s i n d e e d t r u e , f o r o f t h e 3 , 6 o o , o o o n o m i n a l
l o a n a t 8 5 , 1 , 4 0 0 , o o o a t f i r s t r e m a i n e d u n s o l d
. Ho w e v e r ,
e v e r y t h i n g e n d e d w e l l , f o r i t w a s p o s s i b l e l a t e r o n w h e n
t i m e s w e r e b e t t e r t o d i s p o s e o f t h e r e m a i n i n g s e c u r i t i e s
a t a b e t t e r p r i c e . Th e t e r m s o n w h i c h Ha m b r o h a d c o n -
2 8 4

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
e l u d e d t h e l o a n w e r e m o r e f a v o r a b l e t h a n t h o s e g r a n t e d
b y Ro t h s c h i l d i n t h e c a s e o f t h e e a r l i e r l o a n
. Ca v o u r w a s
e n a b l e d t o p a y Au s t r i a t h e l a s t i n s t a l m e n t s o f t h e w a r i n -
d e m n i t y , a n d s h o w Ro t h s c h i l d t h a t h e w a s n o t a s i n d i s -
p e n s a b l e a s Ro t h s c h i l d h a d h i t h e r t o i m a g i n e d
.
Ca v o u r n o w f e l t m o r e f r i e n d l y t o t h e Ho u s e o f Ro t h s -
c h i l d , a n d a l l o w e d t h e m t o t r a n s f e r t o Vi e n n a t h e s i x
m i l l i o n o f w a r i n d e m n i t y w h i c h w e r e s t i l l p a y a b l e t o
Au s t r i a , " f o r , " h e w r o t e , " i t h a s h i t h e r t o b e e n t h e Ro t h s -
c h i l d s w h o h a v e p a i d f o r u s a n d c o l l e c t e d f o r Au s t r i a
. I
t h i n k i t w i l l b e w e l l , i n o r d e r n o t e n t i r e l y t o a l i e n a t e
t h a t g r e a t f i n a n c i a l p o w e r , t o p a y t h i s l a s t i n s t a l m e n t o f
o u r m i s f o r t u n e s t h r o u g h t h e m . " "
B u t t h e Ro t h s c h i l d s w e r e e x c e e d i n g l y a n g r y a t Ca -
v o u r ' s a c t i o n , a n d t h e y m e a n t t o s h o w t h a t t h e y c o u l d n o t
b e e a s i l y t r i f l e d w i t h
. Th e y d i d e v e r y t h i n g p o s s i b l e t o d e -
p r e s s t h e p r i c e o f e a r l i e r l o a n s , w h i c h t h e y h a d g o t r i d o f ,
a n d a t t h e b e g i n n i n g o f S e p t e m b e r , S a r d i n i a n r e n t e s w e r e
i n f a c t q u o t e d a t a v e r y h e a v y d i s c o u n t o n t h e Pa r i s
B o u r s e
. Al t h o u g h t h i s d e v e l o p m e n t w a s n o t e n t i r e l y u n -
e x p e c t e d , Ca v o u r w a s n o t p l e a s e d .
" Iw a s m o r e a n n o y e d t h a n a l a r m e d , " Ca v o u r w r o t e t o
Re v e l , " a t t h e s l u m p i n o u r b o n d s
. Ik n o w t h a t t h i s i s
c e r t a i n l y m a i n l y a t t r i b u t a b l e t o t h e e f f o r t s o f Ro t h s c h i l d
.
He h a s , i t i s t r u e , n o t a t t e m p t e d t o d e a l i n t h e s c r i p t d i -
r e c t l y , a s h e i s t o o c u n n i n g f o r t h a t , b u t h e h a s d i r e c t e d
h i s e f f o r t s t o d e p r e s s i n g o u r e a r l i e r s % l o a n , a n d i n t h a t h e
h a s s u c c e e d e d . In f a c t h e h a s h a d l a r g e b l o c k s o f s e c u r i t i e s
s o l d i n Tu r i n , n o t t h r o u g h o n e o f h i s o w n a g e n t s , b u t
t h r o u g h a h o u s e w h i c h i s n o t k n o w n t o b e a s s o c i a t e d w i t h
h i m . . .
. Th i s o p e r a t i o n h a s b e e n k e p t v e r y s e c r e t , a n d
h a s c a u s e d t h e s e r i o u s s l u m p w h i c h w e h a v e e x p e r i e n c e d ,
a n d w h i c h h a s ' r e a c t e d u p o n t h e Pa r i s m a r k e t , t h a t m a r k e t
b e i n g u n f o r t u n a t e l y o n l y t o o s e n s i t i v e t o a n y d o w n w a r d
m o v e m e n t
. B u t t h i s m a n e u v e r m u s t c o m e t o a n a t u r a l e n d ;
Ro t h s c h i l d , w h o h a s n o w b e e n s e l l i n g f o r s i x m o n t h s
w i t h o u t a c q u i r i n g a n y o f t h e b o n d s h i m s e l f , w i l l s o o n f i n d
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 8 5
h i s p o w e r o f a c t i o n e x h a u s t e d , a n d t h e n t h e r e a c t i o n w i l l
s e t i n . It h e r e f o r e b e g y o u , m y d e a r Co u n t , t o t e l l M r .
Ha m b r o t o b e o f g o o d c o u r a g e , a n d p o i n t o u t t o h i m t h a t
t h i s w a r t o t h e k n i f e w h i c h t h e g r e a t b a r o n h a s d e c l a r e d
d o e s n o t f r i g h t e n u s . . . Ia m t o l d t h a t t h e r e i s a c e r t a i n
Co r t i
3 8
a t t h e S a r d i n i a n Em b a s s y i n L o n d o n w h o h a s
m u c h t a l e n t a n d i n t e l l i g e n c e a n d t h a t h e i s a h i g h l y g i f t e d
a n d i n t e l l i g e n t m a n ; h e m i g h t b e i n s t r u c t e d t o a c t a s o u r
i n t e r m e d i a r y w i t h M r . Ha m b r o . "
Ca v o u r w a s p r o v e d r i g h t ; t h e r e n t e s d i d n o t f a r e s o
b a d l y
. Th e r a t e i m p r o v e d , a n d i n J a n u a r y , 1 8 5 2 , t h e y
w e r e q u o t e d a t a v e r y f a i r p r i c e o n t h e Pa r i s B o u r s e .
Th e Ho u s e o f Ro t h s c h i l d t h e r e u p o n a g a i n a p p r o a c h e d
t h e Pi e d m o n t g o v e r n m e n t , J a m e s s e n d i n g h i s s o n Al f o n s
t o Tu r i n t o o f f e r Co u n t Ca v o u r a l o a n o f 4 0 , 0 0 0 , 0 0 0 f r a n c s
( 2 , 0 0 0 , 0 0 o r e n t e s ) a t t h e e x t r a o r d i n a r i l y f a v o r a b l e r a t e o f
9 2 .
Ca v o u r d i d n o t i n t e n d y e t t o i s s u e a f u r t h e r l o a n , b u t
h e w a s d e l i g h t e d b y t h e h i g h f i g u r e o f f e r e d b y t h e Ho u s e
o f Ro t h s c h i l d , w h i c h h e r i g h t l y r e g a r d e d a s a t t r i b u t a b l e
t o t h e s u c c e s s o f h i s m o v e i n En g l a n d . " He l a i d t h e p r o -
p o s a l b e f o r e t h e Ch a m b e r w i t h t h e o b s e r v a t i o n t h a t h e
w o u l d b e a b l e t o c a r r y o n u n t i l t h e e a r l y m o n t h o f 1 8 5 3
w i t h o u t a l o a n
. Th e Ch a m b e r a c c o r d i n g l y , n o t w i s h i n g
t h e c o u n t r y ' s d e b t t o b e p r e m a t u r e l y i n c r e a s e d , r e j e c t e d
t h e o f f e r i n s p i t e o f a l l i t s a d v a n t a g e s .
M e a n w h i l e , a f t e r a s h o r t i n t e r v a l o f r e t i r e m e n t , Ca v o u r
b e c a m e p r i m e m i n i s t e r o n N o v e m b e r 4 , 1 8 5 2 , r e t a i n i n g
t h e p o r t f o l i o o f f i n a n c e
. D u r i n g t h e e a r l y d a y s o f J a n u a r y ,
1 8 5 3 , t h e Pi e d m o n t t r e a s u r y , a s h a d b e e n e x p e c t e d , a g a i n
f e l t t h e n e e d o f m o n e y , a n d Ca v o u r d e c i d e d t o s e l l t h e
2 , 0 0 0 , 0 0 0
o f r e n t e s w h i c h N i g r a h a d r e s e r v e d o u t o f t h e
l o a n o f 1 8 5 1 .
J a m e s , w h o h a d a l w a y s w a n t e d t o u n d e r w r i t e t h i s p o r -
t i o n o f t h e l o a n w h i c h h e h a d h a n d l e d , d i d n o t h e s i t a t e t o
t r a v e l t o Tu r i n
. He o f f e r e d 8 8 , w h e r e a s Ca v o u r a s k e d
9 5 , a n d i n t h e e n d h e a g r e e d t o
9 4 . 5 0 ,
t h a t i s , f o u r p o i n t s
a b o v e t h e h i g h e s t p r i c e t h a t Ha m b r o h a d e v e r r e a c h e d
. "
2 8 6

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
Th i s m o n e y , h o w e v e r , d i d n o t s u f f i c e , a n d Ca v o u r w a s
f o r c e d t o c o n s i d e r a n e w l o a n , w h i c h t h i s t i m e h e i n t e n d e d
t o b e a t h r e e p e r c e n t o n e . Ca v o u r h a d n o o b j e c t i o n t o t h e
Ho u s e o f Ro t h s c h i l d i n p r i n c i p l e ; h e m e r e l y w a n t e d t o
g e t t h e b e s t p o s s i b l e c o n d i t i o n s f o r h i s c o u n t r y , a n d c o n -
t r i v e d s k i l f u l l y t o p l a y o f f o n e f i n a n c i e r a g a i n s t a n o t h e r .
Ha m b r o f e l t t h a t h e w a s t o o w e a k t o u n d e r t a k e a s e c o n d
l o a n o n a l a r g e s c a l e , a n d Co u n t Co r t i r e p o r t e d a c c o r d -
i n g l y t o Ca v o u r . Ca v o u r i n s t r u c t e d h i m t o g o t o Pa r i s a n d
n e g o t i a t e w i t h F o u l d a n d s e e w h e t h e r t h e Cr e d i t M o b i l -
i e r , w h o w e r e i n k e e n r i v a l r y w i t h t h e Ro t h s c h i l d s , w o u l d
n o t b e p r e p a r e d t o u n d e r w r i t e t h e l o a n . He s e n t Co r t i a n
i n t r o d u c t o r y l e t t e r , w h i c h t h e l a t t e r h a n d e d t o F o u l d o n
J a n u a r y 2 1 , 1 8 5 3 . Co r t i s t a t e d t o F o u l d t h a t Ca v o u r w a s
a b s o l u t e l y f r e e t o n e g o t i a t e t h e l o a n w h e r e t h e i n t e r e s t s
o f h i s c o u n t r y w o u l d b e b e s t s e r v e d , a n d t h a t h e w o u l d
t h e r e f o r e c o n c l u d e i t w h e r e h e c o u l d g e t t h e b e s t t e r m s
.
" Ib e l i e v e , " F o u l d r e p l i e d ' 4 2 " t h a t y o u w i l l f i n d t h e
m a r k e t i n Pa r i s a n d L o n d o n w e l l d i s p o s e d t o y o u r c o u n -
t r y . Th e s l u m p w h i c h h a s a g a i n o c c u r r e d l a t e l y i s a c o n -
s e q u e n c e o f t h e d e l i b e r a t e m a n e u v e r s o f Ro t h s c h i l d , a n d
o f t h e f a c t t h a t e v e r y b o d y i s s u r e t h a t y o u i n t e n d t o i s s u e
a f u r t h e r l o a n . "
Co r t i ' s v i e w w a s t h a t F o u l d h a d t h e h i g h e s t o p i n i o n o f
S a r d i n i a a n d w a s v e r y m u c h i n c l i n e d t o u n d e r w r i t e t h e
l o a n
e n b l o c . O n t h e f o l l o w i n g d a y , Co r t i a g a i n c a l l e d o n
F o u l d , w h o t a l k e d t o h i m a b o u t h i s s y n d i c a t e ( t h e Cr e d i t
M o b i l i e r ) , s a y i n g h o w m a r v e l o u s i t w a s , a n d t h a t i t s l i k e
c o u l d n o t b e f o u n d a n y w h e r e e l s e
. He t h e n a s k e d a b o u t
t e r m s , a n d Co r t i m e n t i o n e d t h e f i g u r e
7 0 ; F o u l d s a i d t h a t
w a s t o o d e a r , a n d t h a t h e m u s t i n s i s t u p o n b e t t e r t e r m s .
N e v e r t h e l e s s , i t w a s a p p a r e n t t h a t h e w a s m o s t k e e n l y
a n x i o u s t o u n d e r w r i t e t h e l o a n
. 4 3
M e a n w h i l e Ca v o u r h a d r e c e i v e d Co r t i ' s l e t t e r
.
" M y d e a r Co u n t , " h e r e p l i e d , " Ih a v e r e a d w i t h g r e a t
i n t e r e s t t h e r e p o r t o f y o u r c o n v e r s a t i o n w i t h M
. B e n j a -
m i n F o u l d
; y o u h a v e s k i l f u l l y c a r r i e d o u t t h e i n s t r u c t i o n s
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 8 7
t h a t Ig a v e y o u . Ir e q u e s t y o u t o c a l l o n M . F o u l d a g a i n
b e f o r e y o u l e a v e , a n d t o d o e v e r y t h i n g p o s s i b l e t o i n d u c e
h i m t o n a m e a p r i c e . Y o u m a y t e l l h i m t h a t Ia m e x
p e c t i n g h i m t o m a k e a m o v e , b u t
y o u m u s t g i v e h i m
c l e a r l y t o u n d e r s t a n d t h a t Ia m n o t i n t h e l e a s t i n a h u r r y ,
a n d t h a t Ia m d e t e r m i n e d t o f o l l o w h i s a d v i c e a n d w a i t
u n t i l t h e s t o r m t h a t i s r a g i n g o n t h e B o u r s e s o f Pa r i s a n d
L o n d o n i s o v e r . "
4 4
Co r t i f u r t h e r r e p o r t e d f r o m Pa r i s
4 6
t h a t F o u l d w a s
s t i l l v e r y j e a l o u s o f Ro t h s c h i l d . F o u l d h a d o n c e s a i d t o
h i m w i t h s o m e h e a t , " Ca v o u r m u s t c h o o s e b e t w e e n m e a n d
h i m . " Th e F r e n c h f i n a n c i e r w a s p a r t i c u l a r l y e x c i t e d w h e n
h e h e a r d t h a t Al f o n s Ro t h s c h i l d h a d a g a i n s e t o u t f o r
Tu r i n ; a n d h e h a d e v e r y r e a s o n t o b e , f o r w h i l e Ca v o u r
w a s i n s t r u c t i n g h i s e n v o y Co r t i t o n e g o t i a t e w i t h B e n j a -
m i n F o u l d a n d t h e f i r m o f F o u l d a n d O p p e n h e i m , t h e
m i n i s t e r h i m s e l f w a s n e g o t i a t i n g i n Tu r i n w i t h Ro t h s -
c h i l d .
At t h e b e g i n n i n g o f F e b r u a r y , s t a t e m e n t s a p p e a r e d i n
s e v e r a l Pa r i s p a p e r s t o t h e e f f e c t , t h a t t h e n e w S a r d i n i a n
l o a n h a d b e e n a l r e a d y c o n c l u d e d w i t h t h e Ho u s e o f Ro t h s -
c h i l d . In a s t a t e o f h i g h e x c i t e m e n t , F o u l d a s k e d Co r t i
t h e m e a n i n g o f t h i s a n d t h e l a t t e r t r u t h f u l l y r e p l i e d t h a t
h e h a d n o k n o w l e d g e o f i t . " F o u l d ' s i n f o r m a t i o n , h o w -
e v e r , w a s n o t d e r i v e d s o l e l y f r o m Ro t h s c h i l d h i m s e l f
w h o , w i t h o u t s u s p e c t i n g t h a t F o u l d w a s a l s o n e g o t i a t i n g
w i t h S a r d i n i a , a s k e d h i m w h e t h e r h e w o u l d c a r e t o h a v e a
s h a r e i n a S a r d i n i a n l o a n , s a y i n g t h a t i n t h a t c a s e h e w o u l d
b e p r e p a r e d t o t r a n s f e r a p o r t i o n t o h i m
. F o u l d d e c l i n e d
t h e o f f e r , s t a t i n g t h a t h e w i s h e d t o r e t a i n h i s f r e e d o m o f
a c t i o n i n t h a t m a t t e r , i n o r d e r t o b e a b l e t o a c t o n h i s o w n
a c c o u n t . 4 7 In d e a l i n g w i t h Co r t i h e s h o w e d a g r o w i n g
k e e n n e s s t o t a k e o v e r t h e l o a n
. Ab o u t t h i s t i m e F o u l d
r a s h l y s a i d t o Ro t h s c h i l d , w h e n t h e l a t t e r a g a i n p r o p o s e d
t h a t h e s h o u l d t a k e p a r t i n t h e l o a n , i n a r a t h e r s e l f -
s a t i s f i e d a n d p a t r o n i z i n g m a n n e r , t h a t h e w a s s o r r y , b u t
h e w a s h i m s e l f e n g a g e d i n s i m i l a r n e g o t i a t i o n s
. Ro t h s -
2 8 8

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
c h i l d w a s m u c h t a k e n a b a c k , a n d a s k e d h i m s e v e r a l q u e s -
t i o n s , a m o n g o t h e r s i n q u i r i n g a s t o t h e p r i c e
. F o u l d
n a t u r a l l y d i d n o t r e p l y , b u t h e w a s t o p a y d e a r l y f o r h a v -
i n g g i v e n h i m s e l f a w a y
. Ro t h s c h i l d s t i l l e n d e a v o r e d ,
t h r o u g h t h e f i n a n c e m i n i s t e r M . B i n e a u , t o a s c e r t a i n t h e
p r i c e t h a t F o u l d h a d a s k e d , a n d t h e p r i c e t h a t h e h a d b e e n
o f f e r e d , a n d t h e n i m m e d i a t e l y s e n t h i s s o n t o Tu r i n . L u i g i
Co r t i c a l l e d o n F o u l d o n F e b r u a r y
2 7 , i n f o r m i n g h i m
t h a t Ca v o u r ' s p r i c e w a s 7 3 , w h e r e u p o n F o u l d p r e t e n d e d
t o b e h i g h l y d i s c o n c e r t e d , a n d m a d e h i s f i r s t c o u n t e r o f f e r
o f 6 6 . 6 6 . 4 8 L u i g i Co r t i t h e r e u p o n s a i d t h a t t h a t f i g u r e w a s
q u i t e i m p o s s i b l e , a n d t h a t h e o u g h t t o m a k e a r e a s o n a b l e
o f f e r , a s Ro t h s c h i l d w a s i n Tu r i n , a n d p r e p a r e d t o s n a p
t h e b u s i n e s s u p u n d e r h i s n o s e . Y o u n g Ro t h s c h i l d h a d i n -
d e e d a c t u a l l y a r r i v e d a t Tu r i n o n t h e e v e n i n g o f F e b r u -
a r y 2 6 , 1 8 5 3 , a l t h o u g h Ca v o u r h a d n o t i n v i t e d h i s v i s i t
i n a n y w a y
. Th e m i n i s t e r , Ca v o u r , w a s a d v i s e d o f h i s a r -
r i v a l b y t h e r e p r e s e n t a t i v e o f t h e Ho u s e o f Ro t h s c h i l d ,
G . L a n d a u . Th e n e w s s t i f f e n e d Ca v o u r ' s r e s i s t a n c e t o a n
e x t r a o r d i n a r y d e g r e e .
" M y d e a r Co u n t , " t h e p r i m e m i n i s t e r w r o t e t o L u i g i
Co r t i t h e s a m e d a y , " M . F o u l d w a n t s t o t a k e o u r l o a n b y
s t o r m a n d t o p r o f i t b y t h e p a n i c w h i c h h a s o v e r w h e l m e d
t h e B o u r s e s o f Pa r i s a n d L o n d o n t o c o m p e l u s t o c a p i t u -
l a t e o n u n f a v o r a b l e t e r m s . W e c a n n o t , h o w e v e r , n o r
s h o u l d w e , h u r r y u n d u l y . Y o u m u s t t h e r e f o r e p l a y f o r
t i m e . "
" I
Co r t i a c c o r d i n g l y h a d t o s t a y i n Pa r i s , a n d Ca v o u r
w r o t e h i m a j o c u l a r l e t t e r a d v i s i n g h i m t o f i n d a y o u n g
a n d r i c h h e i r e s s t o p a y h i s a t t e n t i o n s t o . 5
M e a n w h i l e n e g o t i a t i o n s p r o c e e d e d b e t w e e n L u i g i Co r t i
a n d F o u l d . Th e l a t t e r , a n d t h e b a n k s w h i c h h e r e p r e -
s e n t e d , w e r e u n w i l l i n g t o o f f e r s u b s t a n t i a l l y b e t t e r t e r m s .
Th e y o u n g d i p l o m a t u s e d t h e g r e a t e s t p r e c a u t i o n i n k e e p -
i n g Ca v o u r i n f o r m e d , l e s t t h e c o r r e s p o n d e n c e s h o u l d b e
i n t e r c e p t e d . J u s t a t t h e c r i t i c a l m o m e n t t e l e g r a p h i c c o m -
m u n i c a t i o n s b e t w e e n Pa r i s a n d Tu r i n w e r e b r o k e n .
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 8 9
Th e r e u p o n Al f o n s Ro t h s c h i l d a t Tu r i n o f f e r e d Ca v o u r
o n h i s o w n r e s p o n s i b i l i t y 7 0 , s u b j e c t t o t w o p e r c e n t c o m -
m i s s i o n , a n d Ca v o u r a c c e p t e d . " Ib e l i e v e , " h e w r o t e t o h i s
b a n k e r f r i e n d , " t h a t i t w o u l d n o t h a v e b e e n p o s s i b l e t o
g e t b e t t e r t e r m s . Y o u w i l l a p p r e c i a t e t h e f a c t t h a t F o u l d ' s
c o m p e t i t i o n h a s b e e n w o r t h s o m e m i l l i o n s t o u s . "
5 1
Ca v o u r t h e r e u p o n t e l e g r a p h e d t o Co r t i 6 2
o n M a r c h 3
t h a t h e h a d c o m e t o t e r m s w i t h Ro t h s c h i l d , a s t h e l a t t e r
h a d o f f e r e d s o m u c h b e t t e r t e r m s t h a n F o u l d . Co r t i b r o k e
o f f t h e n e g o t i a t i o n s a n d l e f t Pa r i s w i t h o u t h a v i n g h a d
t i m e t o f o l l o w o u t Ca v o u r ' s p l a y f u l s u g g e s t i o n
. In l a t e r
y e a r s h e o f t e n e n j o y e d t e l l i n g h o w c l e v e r l y Ca v o u r h a d
p l a y e d t h e v a r i o u s g r e e d y f i n a n c i e r s o f f a g a i n s t o n e a n -
o t h e r . Th e g r e a t s t a t e s m a n i n l a t e r y e a r s , t o o , w a s g u a r d e d
a n d c y n i c a l i n h i s d e a l i n g s w i t h t h e Ho u s e o f Ro t h s c h i l d ,
a n d w a s a l w a y s a f r a i d " d ' e t r e j u i v e p a r Ro t h s c h i l d , "
a s
h e p u t i t
. "
Co r t i ' s s e r v i c e s w e r e w a r m l y r e c o g n i z e d b y Ca v o u r . " I
t h a n k y o u , m y d e a r Co u n t , " h e w r o t e t o h i m , " f o r t h e
m a n n e r i n w h i c h y o u h a v e c a r r i e d t h r o u g h t h e t a s k w i t h
w h i c h y o u w e r e e n t r u s t e d . Al t h o u g h t h e a g r e e m e n t w a s
n o t c o n c l u d e d t h r o u g h y o u , y o u c o n t r i b u t e d v e r y l a r g e l y
t o i t s s u c c e s s . "
Th r o u g h t h e s k i l f u l m a n n e r i n w h i c h h e h a d h a n d l e d
t h e p r o b l e m , Ca v o u r , t h e n e w s t a r o n t h e p o l i t i c a l h o r i -
z o n , a n d t h e g e n i u s o f t h e u n i f i c a t i o n o f It a l y , h a d
p r o v e d h i m s e l f t h e f i n a n c i a l e q u a l , n a y t h e s u p e r i o r , i n
h i s c o n t e s t w i t h t h e Ro t h s c h i l d s .
At a b o u t t h e s a m e t i m e , B i s m a r c k , t h e s t a t e s m a n o f
t h e u n i f i c a t i o n o f G e r m a n y , c a m e i n t o c o n t a c t w i t h t h e
F r a n k f o r t Ro t h s c h i l d t h r o u g h h i s a p p o i n t m e n t a s Pr u s -
s i a n m i n i s t e r t o t h e D i e t a t F r a n k f o r t , s i n c e t h e Ro t h s -
c h i l d s , a s b a n k e r s t o t h e F e d e r a t i o n , l o o k e d a f t e r i t s
f i n a n c i a l a f f a i r s .
As l o n g a s M e t t e r n i c h h a d b e e n a t t h e h e l m , t h e G e r -
m a n Co n f e d e r a t i o n a n d i t s o r g a n , t h e D i e t a t F r a n k f o r t ,
w o r k e d h a r m o n i o u s l y , s i n c e Pr u s s i a a n d Au s t r i a f o l l o w e d
2 9 0

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
s i m i l a r a i m s . It i s t r u e t h a t t h e n a t i o n w a s b y n o m e a n s
s a t i s f i e d w i t h t h e i n e f f e c t i v e n e s s o f t h e D i e t i n i n t e r n a l
a f f a i r s , w h i l e i t w a s d i s g u s t e d w i t h i t s i m p o t e n c e a b r o a d .
Th e r e v o l u t i o n s t h a t c o n v u l s e d Eu r o p e i n 1 8 4 8 a n d 1 8 4 9
a t o n c e u p s e t t h e t r a n q u i l w o r k i n g o f t h e D i e t . Th e i d e a
o f n a t i o n a l u n i t y t o o k a s t r o n g h o l d u p o n G e r m a n y , a n d
a f t e r t h e e p i s o d e o f t h e N a t i o n a l As s e m b l y , Pr u s s i a a n d
Au s t r i a e a c h c a m e f o r w a r d w i t h t h e i n t e n t i o n o f a s s u m -
i n g t h e l e a d e r s h i p o f G e r m a n y . W h i l e t h e Pr u s s i a n g o v -
e r n m e n t s u m m o n e d i t s s u p p o r t e r s t o Er f u r t , Au s t r i a
c a l l e d u p o n a l l G e r m a n s t a t e s t o r e s t o r e a n d r e o p e n t h e
F r a n k f o r t D i e t , a s i t h a d b e e n c o n s t i t u t e d b e f o r e t h e
r e v o l u t i o n . Au s t r i a h a d t r i u m p h a n t l y d e a l t w i t h t h e r i s
i n g s i n It a l y , i n Hu n g a r y , a n d i n Vi e n n a , t h e h e a r t o f
t h e m o n a r c h y , a n d h e r n e w l e a d e r , Pr i n c e S c h w a r z e n -
b e r g , p r o c e e d e d t o t u r n h i s w h o l e a t t e n t i o n t o r e g a i n i n g
Au s t r i a ' s o l d d o m i n a t i n g p o s i t i o n i n G e r m a n y . In t h i s h e
c o u l d c o u n t o n t h e s u p p o r t o f Ru s s i a , w h o h a d s h o w n i n
t h e c a s e o f Hu n g a r y t h a t s h e w a s p r e p a r e d t o c o m e t o
t h e r e s c u e w i t h a r m e d f o r c e i n s u p p r e s s i n g r e v o l u t i o n .
At t h a t t i m e Pr u s s i a ' s m i l i t a r y s t r e n g t h w a s n o t s u f f i c i e n t
t o e n a b l e h e r t o p u t a r e c o v e r e d Au s t r i a i n h e r p l a c e .
S h e w a s t h e r e f o r e c o m p e l l e d o n M a r c h 2 9 , i 8 5 o , t o y i e l d
t o t h e h u m i l i a t i n g d e m a n d s o f S c h w a r z e n b e r g
.
O n e y e a r l a t e r , t h e G e r m a n D i e t o f
1 8 i 5
w a s r e s t o r e d ,
a n d Pr u s s i a a l s o n o t i f i e d h e r i n t e n t i o n o f r e e n t e r i n g t h e
D i e t i n M a y , 1 8 5 1 .
Am s c h e l M e y e r Ro t h s c h i l d h a d m a i n t a i n e d a n a t t i t u d e
o f c a u t i o u s r e s e r v e , a s h e w a t c h e d t h e v i c i s s i t u d e s o f t h e
s t r u g g l e f o r t h e s e t t l e m e n t o f t h e G e r m a n c o n s t i t u t i o n
t h a t w a s b e i n g c a r r i e d o n i n h i s n a t i v e t o w n
. Al t h o u g h
h e w a s b a n k e r t o t h e Co n f e d e r a t i o n , a n d t h e r e f o r e i n t i -
m a t e l y c o n c e r n e d i n i t s d e s t i n y , h e d i d h i s u t m o s t t o
r e m a i n a l o o f f r o m a l l c o m p l i c a t i o n s , b e i n g i n 1 8 5 o
a l r e a d y s e v e n t y - s e v e n y e a r s o l d . Ef f o r t s w e r e c o n s t a n t l y
b e i n g m a d e t o d r a w h i m i n t o p o l i t i c s
. He w a s a s k e d , f o r
i n s t a n c e , t o f i n a n c e p o l i t i c a l n e w s p a p e r s , b u t t h e Ho u s e
L o u i s N a p o l e o n , Ca v o u r , a n d
B i s m a r c k

2 9 1
o f Ro t h s c h i l d r e f u s e d t o h a v e a n y t h i n g t o d o w i t h s u c h
p r o p o s a l s . If t h e y n e e d e d p a p e r s t h e y a l w a y s h a d r e c o u r s e
t o i n d i v i d u a l e d i t o r s , w h o h a d t h e d e s i r e d a r t i c l e s p u b -
l i s h e d ;
b u t t h e y w e r e n e v e r t e m p t e d t o p u b l i s h a p a p e r
t h e m s e l v e s , i n w h i c h t h e y w o u l d h a v e h a d t o i d e n t i f y
t h e m s e l v e s w i t h a d e f i n i t e p o l i t i c a l p o i n t o f v i e w a n d a
c l e a r l y d e f i n e d p r o g r a m . Am s c h e l M e y e r a c c o r d i n g l y
r e p l i e d o n M a r c h 2 0 , 1 8 4 9 , t o a p r o p o s a l o f t h i s n a t u r e ,
t h a t h i s Ho u s e h a d " a l w a y s o b j e c t e d t o t a k i n g p a r t i n
t h e f o u n d a t i o n o f p o l i t i c a l p a p e r s , " a n d h e t h e r e f o r e s i n -
c e r e l y r e g r e t t e d t h a t h e w a s u n a b l e t o f a l l i n w i t h t h e
s u g g e s t i o n
.
Pr u s s i a ' s r e e n t r y i n t o t h e D i e t c a l l e d f o r t h e a p p o i n t -
m e n t o f a r e p r e s e n t a t i v e . O n M a y i o , O t t o v o n B i s m a r c k ,
w h o w a s a p p o i n t e d t o t h i s o f f i c e a t t h e a g e o f b a r e l y
t h i r t y - s i x , a r r i v e d a t F r a n k f o r t . Al t h o u g h p e r s o n a l l y h e
s h a r e d t h e c o n s e r v a t i v e . s e n t i m e n t s o f Au s t r i a , h e w a s
i n s p i r e d b y a p r e s e n t i m e n t o f t h e f u t u r e g r e a t n e s s o f h i s
c o u n t r y , a n d d e t e r m i n e d i n s p i t e o f a l l t h a t h a d o c c u r r e d ,
t o s e c u r e f o r Pr u s s i a t h e p l a c e i n G e r m a n y t h a t w a s h e r
d u e , a n d i f n e c e s s a r y t o f i g h t f o r i t .
B i s m a r c k ' s f i r s t i m p r e s s i o n o f F r a n k f o r t w a s n o t a
f a v o r a b l e o n e ; h e f o u n d i t " d e a d l y d u l l , "
s 4
a n d h i s n e w
p r o f e s s i o n o f d i p l o m a c y w a s a n y t h i n g b u t c o n g e n i a l t o
h i m . He d e s c r i b e d t h e s o c i a l l i f e o f t h e d e l e g a t e s a s c o n -
s i s t i n g o f n o t h i n g b u t " s u s p i c i o u s s p y i n g o n o n e a n o t h e r " ;
" n o o n e , " h e w r o t e , " w o u l d b e l i e v e h o w m u c h c h a r l a t a n -
i s m a n d s e l f - i m p o r t a n c e t h e r e i s a b o u t t h i s d i p l o m a c y
. " '
B i s m a r c k w a s l o o k i n g f o r l o d g i n g s , a n d m e a n w h i l e
w a s s e e i n g c a l l e r s i n a p l a i n f u r n i s h e d r o o m i n t h e t o w n .
O n e o f t h e f i r s t t o c a l l o n h i m w a s o l d Am s c h e l M e y e r
Ro t h s c h i l d , w h o w i s h e d t o g e t o n g o o d t e r m s b o t h w i t h
t h e r e p r e s e n t a t i v e o f Pr u s s i a a n d w i t h Co u n t Th u n , t h e
r e p r e s e n t a t i v e o f Au s t r i a
. B i s m a r c k r e g a r d e d Ro t h s c h i l d
a s a c u r i o s i t y , f o r h e w a s l i t t l e i m p r e s s e d w i t h e x c l u s i v e
s o c i e t y i n F r a n k f o r t .
" Y o u n e e d n o t b e a f r a i d o f h i g h s o c i e t y h e r e , "
6 6
B i s -
2 9 2

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
m a r c k w r o t e t o h i s w i f e . " As f a r a s m o n e y g o e s , Ro t h s -
c h i l d s t a n d s h i g h e s t , a n d i f y o u w e r e t o t a k e a l l t h e i r
m o n e y a w a y f r o m t h e o t h e r s , t h e y w o u l d n o t s t a n d p a r -
t i c u l a r l y h i g h
. Af t e r a l l , m o n e y d o e s n ' t r e a l l y c o u n t , a n d
- m a y t h e L o r d k e e p m e h u m b l e , f o r t h e t e m p t a t i o n t o
b e c o m e s e l f - s a t i s f i e d h e r e i s v e r y g r e a t . "
Ro t h s c h i l d ' s c a l l w a s f o l l o w e d u p w i t h s e v e r a l i n v i t a -
t i o n s t o t h e h o u s e o f t h e a g e d b a n k e r . In o r d e r t o g i v e
B i s m a r c k n o c h a n c e o f r e f u s a l , Ro t h s c h i l d ' s f i r s t i n v i t a -
t i o n t o d i n n e r w a s f o r a v e r y l o n g t i m e a h e a d . B i s m a r c k
r e p l i e d t h a t h e w o u l d c o m e i f h e w e r e s t i l l a l i v e . " M y
a n s w e r , " B i s m a r c k w r o t e t o h i s w i f e , " " a f f e c t e d Am s c h e l
s o p r o f o u n d l y t h a t h e h a s t o l d e v e r y b o d y a b o u t i t , a n d
g o e s a b o u t s a y i n g , ` W h y s h o u l d n ' t h e l i v e ? W h y s h o u l d
h e d i e ? Th e m a n i s y o u n g a n d s t r o n g ' ! "
Th e i m p r e s s i o n w h i c h o l d Ro t h s c h i l d m a d e u p o n B i s -
m a r c k i s d e s c r i b e d i n a l e t t e r w h i c h h e w r o t e s h o r t l y
a f t e r w a r d s t o h i s w i f e
" Ip i c k e d t h e e n c l o s e d l e a v e s f o r y o u i n o l d Am s c h e l
Ro t h s c h i l d ' s g a r d e n ; Il i k e h i m b e c a u s e h e ' s a r e a l o l d
J e w p e d d l e r , a n d d o e s n o t p r e t e n d t o b e a n y t h i n g e l s e ; h e
i s s t r i c t l y o r t h o d o x a n d r e f u s e s t o t o u c h a n y t h i n g b u t
k o s h e r f o o d a t h i s d i n n e r s . ` Ta k e t h o m e b r e a d w i t h y o u
f o r t h e d e e r , ' h e s a i d t o h i s s e r v a n t , a s h e w e n t o u t t o
s h o w m e h i s g a r d e n , i n w h i c h h e k e e p s t a m e d e e r . ' He r r
B e r o u n [ B a r o n ] , t h i t h p l a n t c o t h t m e t w o t h o u t h a n d
g u l d e n - o n m y h o n o r i t c o t h t m e t w o t h o u t h a n d g u l d e n
c a s h . Y o u c a n h a v e i t f o r a t h o u t h a n d ; o r i f y o u ' d l i k e i t
a t h a p r e t h e n t , h e ' l l b r i n g i t t o y o u r h o u t h e
. G o d k n o w t h
Il i k e y o u , B e r o u n , y o u ' r e a f i n e , h a n d t h o m e f e l l o w
. ' He
i s a s h o r t , t h i n l i t t l e m a n , a n d q u i t e g r a y . Th e e l d e s t o f h i s
l i n e , b u t a p o o r m a n i n h i s p a l a c e
; h e i s a c h i l d l e s s w i d -
o w e r , w h o i s c h e a t e d b y h i s s e r v a n t s a n d d e s p i s e d b y
c o n c e i t e d F r e n c h i f i e d a n d An g l i c i z e d n e p h e w s a n d
n i e c e s w h o w i l l i n h e r i t h i s w e a l t h w i t h o u t a n y l o v e o r
g r a t i t u d e . "
W h e n o n Au g u s t 1 8 ,
I8 5 I, B i s m a r c k w a s f i n a l l y a p -
Is a a c Pe r e i r e
S m i l e Pe r e i r e
I
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 9 3
p o i n t e d Pr u s s i a n d e l e g a t e t o t h e D i e t , Ro t h s c h i l d m a d e
s t i l l g r e a t e r e f f o r t s t o i n g r a t i a t e h i m s e l f w i t h t h e n e w
p o w e r
. B i s m a r c k h a d s t i l l f a i l e d t o f i n d l o d g i n g s t h a t
w o u l d b e w i t h i n h i s m e a n s . Am s c h e l o f f e r e d h i m a n e l e -
g a n t Ro t h s c h i l d v i l l a s o m e w a y o u t , o n t h e B o c k e n h e i m
Ro a d . 8 7
, O n O c t o b e r i B i s m a r c k m o v e d i n t o t h e h o u s e a t
q . o B o c k e n h e i m Ro a d , w h i c h a s a m a t t e r o f f a c t d i d n o t
b e l o n g t o t h e Ro t h s c h i l d s , b u t w h o s e f i r s t t w o f l o o r s h a d
b e e n u s e d b y Ca r l M e y e r v o n Ro t h s c h i l d o n t h e o c c a s i o n
o f h i s s e c o n d v i s i t t o F r a n k f o r t .
N o s o o n e r h a d t h e s e p e r s o n a l m a t t e r s b e e n s e t t l e d t h a n
p o l i t i c s e n g a g e d B i s m a r c k ' s f u l l a t t e n t i o n . Th e d e f e a t o f
Pr u s s i a a t O l m i i t z b u r n e d i n h i s s o u l . He a n d t h e l e a d i n g
m e n a t B e r l i n w e r e a t h e a r t c o n v i n c e d t h a t Pr u s s i a h a d
t h e r i g h t t o s e i z e t h e l e a d e r s h i p o f G e r m a n y ; t o e s t a b l i s h
h e r a s c e n d a n c y o v e r G e r m a n y . Th e f a c t t h a t Au s t r i a i n -
d i s p u t a b l y e n j o y e d t h e f o r m a l l e a d e r s h i p a t F r a n k f o r t
m a d e B i s m a r c k a l l t h e m o r e d e t e r m i n e d t o w a t c h o v e r
Pr u s s i a ' s i n t e r e s t s
.
It b e c a m e a p p a r e n t t h a t Vi e n n a i n t e n d e d t o u s e t h e
D i e t , t h e m a j o r i t y o f w h o s e s t a t e s w e r e i n f a v o r o f Au s -
t r i a , f o r t h e p u r p o s e o f o u t v o t i n g Pr u s s i a ; b u t B i s m a r c k
m e a n t a t o n c e t o c o n t e s t Au s t r i a ' s l e a d i n g p o s i t i o n a s f a r
a s t h i s w a s p o s s i b l e
. Th e f o l l o w i n g r e m a r k , w h i c h h e
m a d e s h o r t l y a f t e r h i s a p p o i n t m e n t , w a s c h a r a c t e r i s t i c o f
t h e m a n . L e t h i m b u t h a v e h i s w a y , h e s a i d , a n d h e w o u l d
r e t u r n w i t h Au s t r i a ' s s c a l p . 6 8
B i s m a r c k w a s r e s e r v e d a n d
s o m e w h a t s u s p i c i o u s i n h i s a t t i t u d e t o w a r d t h e Ho u s e o f
Ro t h s c h i l d , s i n c e h e f e l t t h a t h e h a d r e a s o n t o b e l i e v e t h a t
t h e b a n k w a s m o r e a t t a c h e d t o Au s t r i a t h a n t o a n y o t h e r
f e d e r a l s t a t e .
Th e Ro t h s c h i l d s h a d a t t h a t t i m e b e e n i n B e r l i n o n
f i n a n c i a l m a t t e r s , " a n d h a d e x p r e s s e d a w i s h t o b e g r a n t e d
t h e t i t l e o f " B a n k e r s t o t h e Pr u s s i a n Co u r t
. " Th e g o v e r n -
m e n t a t B e r l i n a s k e d B i s m a r c k t o e x p r e s s h i s o p i n i o n o n
t h i s r e q u e s t , a n d t h e l a t t e r r e p l i e d t h a t i n h i s v i e w t h e
2 9 4

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
Ro t h s c h i l d s w e r e a d e q u a t e l y r e w a r d e d b y t h e i r p e c u n i a r y
p r o f i t f o r a n y p o s s i b l e e f f o r t s t h e y m i g h t h a v e m a d e i n
t h e i n t e r e s t s o f Pr u s s i a
. Th e r e u p o n t h e p r o p o s a l w a s
d r o p p e d .
B i s m a r c k w a s a n n o y e d b e c a u s e Au s t r i a t o o k t h e c h a i r
a t t h e D i e t , a n d h e r r e p r e s e n t a t i v e c a r r i e d t h e t i t l e Pr e -
s i d i n g D e l e g a t e
. Th e o p p o s i t i o n b e t w e e n Pr u s s i a a n d
Au s t r i a w a s c o n s t a n t l y m a k i n g i t s e l f f e l t , a n d q u e s t i o n s
o f m i n o r i m p o r t a n c e w e r e o f t e n t h e o c c a s i o n f o r a
s t r u g g l e f o r p r e s t i g e . " S u c h a q u e s t i o n a r o s e o n t h e s u b -
j e c t o f t h e f l e e t
. Th e c e n t r a l a u t h o r i t y a t F r a n k f o r t h a d
c r e a t e d a G e r m a n f l e e t i n 1 8 4 8 , t o w h i c h Pr u s s i a c o n t r i b -
u t e d f i n a n c i a l l y , w h i l e Au s t r i a d i d n o t
. It h a d b e c o m e
n e c e s s a r y t o f i n d f u r t h e r f u n d s , a n d i t f e l l t o t h e Pr e s i d i n g
D e l e g a t e , Co u n t Th u n , t o b r i n g t h e m a t t e r b e f o r e t h e
As s e m b l y
. An a s s e s s m e n t o f t h e s t a t e s w a s t o b e m a d e ,
b u t Pr u s s i a p r o t e s t e d a g a i n s t a n y f u r t h e r e x p e n d i t u r e a s
l o n g a s c e r t a i n s t a t e s w e r e i n a r r e a r s i n r e s p e c t o f t h e
e a r l i e r i n s t a l m e n t s d u e
. Th e m a t t e r d r a g g e d o n u n t i l t h e
r e q u i r e m e n t s o f t h e f l e e t b e c a m e s o p r e s s i n g t h a t s o m e -
t h i n g h a d t o b e d o n e
. To w a r d t h e e n d o f t h e y e a r , B i s -
m a r c k h a d a l m o s t m a d e u p h i s m i n d t o a g r e e t o t h e
a s s e s s m e n t , w h e n h e r e c e i v e d p e r e m p t o r y i n s t r u c t i o n s
f r o m M a n t e u f f e l t o p r o t e s t a g a i n s t i t a n d i m m e d i a t e l y
t o r e t u r n t o B e r l i n
. Th e Pr u s s i a n d e l e g a t e l e f t f o r B e r l i n
o n J a n u a r y 3 , 1 8 5 2 , a n d i n a c c o r d a n c e w i t h t h e e s t a b -
l i s h e d p r a c t i c e h e a s k e d h i s o p p o n e n t , Co u n t Th u n , w h o
w a s e x c e e d i n g l y a n g r y a t t h e a t t i t u d e o f t h e Pr u s s i a n
g o v e r n m e n t a n d t h e d i f f i c u l t i e s w h i c h i t w a s c o n s t a n t l y
m a k i n g , t o r e p r e s e n t h i m i n h i s a b s e n c e , a n o m a l o u s
t h o u g h t h e p o s i t i o n w o u l d b e
. N o w t h e o f f i c e r s a n d m e n
o f t h e f l e e t r e q u i r e d t h e i r p a y
. " It w a s e s s e n t i a l , " a s Th u n
o b s e r v e d , 8 1
" a s s p e e d i l y a s p o s s i b l e t o s e e t h a t t h e d e f i c i t
w a s c o v e r e d , u n l e s s w e w e r e p r e p a r e d t o f a c e a m u t i n y
o n t h e s h i p s . "
Th u n a c c o r d i n g l y s u m m o n e d a m e e t i n g o f t h e D i e t f o r
J a n u a r y 7 , w h e n t h e Pr u s s i a n e n v o y , B i s m a r c k , w o u l d b e
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 9 5
a b s e n t
; a n d a f t e r a l i v e l y ' d e b a t e i t w a s d e c i d e d t o a s k
t h e Ro t h s c h i l d s f o r a l o a n o f
2 6 0 , 0 0 0 g u l d e n t o m e e t t h e s e
r e q u i r e m e n t s , o n t h e s e c u r i t y o f t h e f e d e r a l m o n e y s d e p o s -
i t e d w i t h t h e b a n k
. Th u n , w h o p r o p o s e d t h e m o t i o n , h a d
s i m u l t a n e o u s l y t o v o t e a g a i n s t i t a s r e p r e s e n t a t i v e o f
Pr u s s i a
. B i s m a r c k a n d t h e Pr u s s i a n g o v e r n m e n t w e r e
k e p t t e l e g r a p h i c a l l y i n f o r m e d o f w h a t w a s h a p p e n i n g
b y t h e c o u n s e l o r o f l e g a t i o n , W e t z e l
.
Th e d a y a f t e r t h e r e s o l u t i o n w a s c a r r i e d Co u n t Th u n
p r o c e e d e d t o e n t e r i n t o c o n f i d e n t i a l n e g o t i a t i o n s w i t h
Ro t h s c h i l d , 8 2 t o d e t e r m i n e t h e c o n d i t i o n s o n w h i c h t h e
n e c e s s a r y m o n e y c o u l d b e a d v a n c e d
. Th e b a n k e r w a s
p r e p a r e d t o g r a n t t h e l o a n f o r s i x m o n t h s , a t 4 % , w i t h -
o u t c h a r g i n g c o m m i s s i o n , m e r e l y e x p r e s s i n g t h e w i s h
t h a t h e s h o u l d n o t b e r e q u i r e d t o p u t t h e t e r m s i n t o w r i t -
i n g , a s t h i s m i g h t c o n v e y t h e i m p r e s s i o n t h a t h e w a n t e d
t o t a k e a d v a n t a g e o f t h e u n f o r t u n a t e p o s i t i o n i n w h i c h
t h e f l e e t w a s p l a c e d .
Th e D i e t t h e r e f o r e i m m e d i a t e l y a g r e e d t o t h e n e c e s -
s a r y a d v a n c e o f 6 o , o o o g u l d e n , a n d a d d r e s s e d a l e t t e r
t o t h e Ho u s e o f Ro t h s c h i l d , a s k i n g t h e m t o p a y t h i s
a m o u n t
. M e a n w h i l e B i s m a r c k t e l e g r a p h e d o n J a n u a r y 9
t o W e t z e l , i n s t r u c t i n g h i m t o p r o t e s t t o Am s c h e l M e y e r ,
a n d o n t h e l o t h h e c o n f i r m e d t h e s e i n s t r u c t i o n s i n d e t a i l ,
i n t h e f o l l o w i n g m e s s a g e : " Pr u s s i a d o e s n o t r e g a r d t h e
c o n t e m p l a t e d p a y m e n t o f m o n e y a s a F e d e r a l l o a n ; t h e
F e d e r a l m o n e y s d e p o s i t e d w i t h Ro t h s c h i l d c a n n o t l e g i t i -
m a t e l y b e d i v e r t e d f r o m t h e o b j e c t t o w h i c h t h e y h a d
b e e n o r i g i n a l l y a s s i g n e d . Re g i s t e r y o u r p r o t e s t w i t h
Ro t h s c h i l d a g a i n s t t h i s m o n e y b e i n g s p e n t o r a p p r o p r i -
a t e d . W e m a i n t a i n o u r r i g h t o f a c t i o n a g a i n s t t h e Ho u s e
o f Ro t h s c h i l d f o r a n y d a m a g e t h a t w e o r t h e F e d e r a t i o n
m a y s u f f e r t h r o u g h s u c h p a y m e n t . Ro t h s c h i l d i s n o t
r e q u i r e d t o o b e y t h e Pr e s i d e n t ' s i n s t r u c t i o n s i n l o a n
m a t t e r s . " 8 8
W h e n , o n t h e e v e n i n g o f t h e l o t h , W e t z e l m e t Co u n t
Th u n , w h o w a s " t a k i n g a b r e a t h o f a i r a f t e r a h a r d a n d
2 9 6

Th e Re i g n o f
t h e Ho u s e o f Ro t h s c h i l d
t r y i n g d a y , " W e t z e l t o l d h i m t h a t h e h a d i n t e n d e d t o
c o m e a n d s e e h i m
8 4 i n o r d e r c o n f i d e n t i a l l y t o i n f o r m
h i m t h a t h e h a d r e c e i v e d i n s t r u c t i o n s f r o m B e r l i n t o
b r i n g p r e s s u r e t o b e a r u p o n Ro t h s c h i l d t o r e f u s e t o
a d v a n c e m o n e y f o r t h e f l e e t . Th u n r e p l i e d t o h i m t h a t
t h i s w a s W e t z e l ' s a f f a i r , a n d t h a t a l t h o u g h h e h a d t h e
h i g h l y u n p l e a s a n t d u t y o f r e p r e s e n t i n g Pr u s s i a i n t h e
D i e t a t t h a t t i m e , h e w a s n o t r e s p o n s i b l e f o r h e r a c t i o n s ,
b u t o n l y h e r m o u t h p i e c e . He a d d e d t h a t h e w a s d o u b t f u l
w h e t h e r Ro t h s c h i l d w o u l d l i s t e n t o Pr u s s i a ' s v i e w s , s i n c e
h e h a d r e c e i v e d h i s i n s t r u c t i o n s f r o m t h e p r e s i d i n g o f f i c e r
i n t h e p r e s c r i b e d f o r m , i n a c c o r d a n c e w i t h a r e s o l u t i o n
o f t h e D i e t , a n d h e w a s n o t t o t a k e c o g n i z a n c e o f t h e
n e g o t i a t i o n s a t t h e m e e t i n g o f t h e D i e t , o r o f d i f f e r e n c e s
o f o p i n i o n b e t w e e n t h e v a r i o u s m e m b e r s
. W e t z e l s a i d t o
Th u n t h a t t h i s w a s h i s o p i n i o n a l s o , a n d t h a t f o r t h i s
r e a s o n i t w a s a l l t h e m o r e p a i n f u l f o r h i m t o c a r r y o u t
h i s i n s t r u c t i o n s . W h e r e u p o n t h e y p a r t e d .
As Th u n e x p e c t e d t h a t s u c h a c t i o n o n t h e p a r t o f t h e
Pr u s s i a n d e l e g a t i o n c o u l d n o t f a i l t o p r o d u c e s o m e e f f e c t
u p o n Ro t h s c h i l d , h e a s k e d o n e o f h i s a t t a c h e s , t h e B a r o n
v o n N e l l , t o c a l l o n Ro t h s c h i l d o n s o m e p r e t e x t o r a n o t h e r
o n t h e m o r n i n g o f t h e l o t h , a n d e n d e a v o r t o a s c e r t a i n
h i s a t t i t u d e . He r r v o n N e l l r e p o r t e d t o Co u n t Th u n i n
d u e c o u r s e t h a t h e h a d f o u n d Ro t h s c h i l d e n t i r e l y c h a n g e d
i n h i s a t t i t u d e , a n d t h a t Ro t h s c h i l d h a d s a i d t o h i m t h a t
h e c o u l d n o t a f f o r d t o m a k e a n e n e m y o f Pr u s s i a . F i n a l l y
Ro t h s c h i l d h a d s t a t e d t h a t h e w a n t e d t o g i v e t h e m a t t e r
f u r t h e r c o n s i d e r a t i o n , a n d t h a t h e w i s h e d t o r e q u e s t Co u n t
Th u n t o f i x a t i m e f o r t h e f o l l o w i n g d a y , t h e i r t h , w h e n
h e c o u l d c o m e a n d d i s c u s s t h e m a t t e r w i t h h i m . Th u n
i n v i t e d h i m t o c o m e a t t w e l v e o ' c l o c k . Th e p o s i t i o n w a s
e x c e e d i n g l y p a i n f u l f o r Ro t h s c h i l d . He d i d n o t i n t h e
l e a s t w i s h t o a n n o y e i t h e r Au s t r i a o r Pr u s s i a , a n d h e
w a n t e d t o r e m a i n b a n k e r t o t h e D i e t a n d c a r r y o n h i s
b u s i n e s s i n p e a c e ; a n d n o w h e s u d d e n l y f o u n d h i m s e l f
f a c e d w i t h t h e c o n f l i c t i n g c l a i m s o f t w o o f t h e m o s t i m -
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 9 7
p o r t a n t s t a t e s o f t h e Co n f e d e r a t i o n a n d w a s c o m p e l l e d
t o t a k e s i d e s w i t h o n e o f t h e m .
He d e s c r i b e d t h e d i f f i c u l t i e s o f h i s p o s i t i o n i n e l o q u e n t
l a n g u a g e t o Co u n t Th u n , d u r i n g t h e i r c o n v e r s a t i o n o n
J a n u a r y i i . Ac c o r d i n g t o h i s r e p o r t , Th u n p u t t h e f o l -
l o w i n g p o i n t s t o Ro t h s c h i l d
" W h o h a s t o d e c i d e q u e s t i o n s a f f e c t i n g t h e b u s i n e s s o f
t h e F e d e r a t i o n ? Th e F e d e r a l As s e m b l y
. W h a t i s t h e o f f i -
c i a l m e a n s b y w h i c h t h e F e d e r a l As s e m b l y c o m m u n i c a t e s
i t s w i s h e s t o t h i r d p e r s o n s s u c h a s y o u r s e l f ? Th r o u g h t h e
D e l e g a t e w h o p r e s i d e s o v e r t h e D i e t
. Th e d e m a n d w h i c h
y o u h a v e r e c e i v e d h a s t h e r e f o r e f u l f i l l e d a l l t h e c o n d i -
t i o n s n e c e s s a r y t o m a k e i t i n o r d e r
. In m y o p i n i o n Pr u s s i a
h a s n o r e p l y a t a l l i f y o u s a y t o h e r
: ` Ih a v e n o k n o w l e d g e
o f w h a t o c c u r s w i t h i n t h e F e d e r a l As s e m b l y
. M y l e g a l
a u t h o r i t y i s t h e Pr e s i d i n g D e l e g a t e , w h o h a s s e n t m e h i s
i n s t r u c t i o n s i n a c c o r d a n c e w i t h a r e s o l u t i o n o f t h e D i e t ,
a n d Ih a v e c a r r i e d o u t t h e s e i n s t r u c t i o n s a s i n m y p o s i t i o n
Ia m r e q u i r e d t o d o . '
" Th u n a l s o g a v e Ro t h s c h i l d t o
u n d e r s t a n d t h a t i f h e r e f u s e d t o m a k e t h e d e s i r e d p a y -
m e n t , Th u n w o u l d b e c o m p e l l e d t o c a l l a f u r t h e r m e e t -
i n g o f t h e D i e t u p o n t h e f o l l o w i n g d a y
. It w o u l d b e
i m p o s s i b l e f o r t h e m a j o r i t y o f t h e As s e m b l y t o a l l o w a n
i n d i v i d u a l g o v e r n m e n t t o p r e v e n t t h e e x e c u t i o n o f a r e s o -
l u t i o n w h i c h i t h a d p a s s e d , s o t h a t i n a l l p r o b a b i l i t y i t
w o u l d p a s s a r e s o l u t i o n t h a t t h e D i e t ' s b u s i n e s s s h o u l d
b e t r a n s f e r r e d t o a n o t h e r b a n k a t F r a n k f o r t , w h i c h w o u l d
b e p r e p a r e d t o p a y t h e m o n e y w h e n i t w a s w a n t e d
.
Th e a g e d Am s c h e l M e y e r f o l l o w e d w h a t t h e c o u n t h a d
t o s a y i n a c o n d i t i o n o f g r e a t e x c i t e m e n t
. He s u g g e s t e d ,
a s a w a y
o u t o f t h e d i f f i c u l t y , t h a t h e s h o u l d b e a u t h o r -
i z e d t o p a y t h e 6 o , o o o g u l d e n t o Au s t r i a ' s a c c o u n t
. Th u n ,
h o w e v e r , s t a t e d t h a t h e c o u l d a g r e e t o t h i s
. In t h e e n d
Am s c h e l M e y e r y i e l d e d t o t h e p r e s s u r e b r o u g h t t o b e a r
b y t h e c o u n t a n d t h e c o m b i n e d e n d e a v o r s o f h i s e n t o u r -
a g e , a n d p r o m i s e d t o m a k e t h e p a y m e n t
. As t h e o l d m a n
l e f t Co u n t Th u n ' s a n t e c h a m b e r , h e m e t t h e Pr u s s i a n
2 9 8

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
Co u n s e l o r W e t z e l , w h o h a d c a l l e d t o d i s c u s s t h e s a m e
m a t t e r w i t h t h e Pr e s i d i n g D e l e g a t e .
Th u n r e p o r t e d a s f o l l o w s w i t h r e g a r d t o t h e d r a m a t i c
d i s c u s s i o n w i t h t h e Pr u s s i a n d i p l o m a t , w h i c h r e s u l t e d
" Ic o u l d n o t r e f r a i n f r o m t e l l i n g h i m j u s t e x a c t l y w h a t I
t h o u g h t . Ib e g a n b y e x p l a i n i n g t h a t If e l t s o i n d i g n a n t
a b o u t Pr u s s i a ' s l a s t a c t i o n s t h a t i t w o u l d b e i m p o s s i b l e
f o r m e c o m p l e t e l y t o r e s t r a i n m y s e l f ; If o u n d t h i s a l l t h e
m o r e d i f f i c u l t s i n c e , i n a c c o r d a n c e w i t h m y c o n c e p t i o n s
o f d u t y a n d h o n o r , Ih a d n e v e r p e r m i t t e d m y s e l f t o g i v e
t h i r d p e r s o n s t h e s l i g h t e s t i n k l i n g o f t h e c o n s t a n t d i f f e r -
e n c e s a n d d i v i s i o n s o f o p i n i o n t h a t h a d o c c u r r e d a t t h e
m e e t i n g s o f t h e D i e t , a n d Ih a d a c c o r d i n g l y a p p l i e d t h e
g r e a t e s t s e l f - c o n t r o l i n m y r e c e n t d i s c u s s i o n s w i t h t h e
Ro t h s c h i l d s . Is a i d Im u s t t h e r e f o r e a s k h i m n o t t o r e g a r d
a n y e x p r e s s i o n s Iu s e d a s o f f i c i a l . If e l t t h a t Im u s t h o n -
e s t l y s a y t h a t i t h a d n e v e r o c c u r r e d t o m e a s c o n c e i v a b l e
t h a t a G o v e r n m e n t o f t h e Co n f e d e r a t i o n c o u l d e v e r b e
m o v e d s o f a r t o d e g r a d e t h e F e d e r a t i o n ' s a u t h o r i t y a s t o
p r o t e s t t o a b a n k e r a g a i n s t a r e s o l u t i o n p a s s e d b y t h e
Co n f e d e r a t i o n , l e a v i n g i t o p e n t o h i m t o l e t t h e w h o l e
t o w n a n d t h e w h o l e o f G e r m a n y k n o w w h a t w a s h a p -
p e n i n g
. If Pr u s s i a h a d b e e n c o n c e r n e d o n l y t o m a i n t a i n
h e r p r i n c i p l e s , a f o r m a l p r o t e s t a t t h e m e e t i n g o f t h e
D i e t w o u l d h a v e s u f f c e d ; t h e i n c i d e n t , h o w e v e r , r e v e a l e d
t h e f a c t t h a t Pr u s s i a w a s n o t c o n c e r n e d w i t h a c h i e v i n g
t h i s t r i v i a l o b j e c t , b u t w i s h e d t o e s t a b l i s h w h a t i n m y v i e w
w a s a n e n t i r e l y u n r e a s o n a b l e a n d i n a d m i s s i b l e p r i n c i p l e
- n a m e l y , t h a t Pr u s s i a a l o n e s h o u l d l a y d o w n t h e l a w t o
t h e Co n f e d e r a t i o n ; a n d i f t h i s w e r e s o , t h e v e r y e x i s t e n c e
o f t h e Co n f e d e r a t i o n w o u l d b e a t s t a k e , f o r t h o s e q u e s -
t i o n s w h i c h w e h a v e c o n s c i e n t i o u s l y e n d e a v o r e d t o k e e p
i n t h e b a c k g r o u n d w o u l d b e f o r c e d t o a n i s s u e , a n d t h e
d e c i s i o n i n t h e i r c a s e m i g h t e a s i l y l e a d t o c o n s e q u n e c e s
o f t h e g r a v e s t n a t u r e . "
Th u n a l s o g a v e t h e c o u n s e l o r t o u n d e r s t a n d t h a t i n
s u c h c i r c u m s t a n c e s i t w o u l d b e e x c e e d i n g l y p a i n f u l a n d
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

2 9 9
i n d e e d i m p o s s i b l e f o r h i m t o t a k e t h e p l a c e o f t h e Pr u s -
s i a n d e l e g a t e .
Th e Pr e s i d i n g D e l e g a t e w a s i n d e e d e n r a g e d t o t h e
u t m o s t b y Pr u s s i a ' s a c t i o n . " It h a d n o t o c c u r r e d t o a n y -
b o d y , " h e w r o t e t o h i s g o v e r n o r , " t h a t i t w o u l d b e p o s -
s i b l e , e v e n f o r Pr u s s i a , t o h a v e r e c o u r s e t o s u c h a d i s -
g u s t i n g l y c o n t e m p t i b l e m e a n s a s t o a p p e a l t o a J e w
a g a i n s t t h e D i e t
. If e e l t h a t t h e i r a c t i o n h a s m a d e t h e
p o s i t i o n s o a c u t e t h a t a n u n d e r s t a n d i n g a n d r e c o n c i l i a -
t i o n w i l l n o l o n g e r b e p o s s i b l e . Th e D i e t n a t u r a l l y c o u l d
n o t a c c e p t t h e p o s i t i o n , a n d i f Ro t h s c h i l d h a d n o t a g r e e d
t o p a y t h e m o n e y , Ic o u l d n o t h a v e l e f t t h e m a t t e r i n s u s -
p e n s e f o r a n o t h e r t w e n t y - f o u r h o u r s , e v e n i f w a r w o u l d
h a v e b e e n t h e i n e v i t a b l e r e s u l t . Th e f a i l u r e o f t h i s
a t t e m p t w i l l m e r e l y s e r v e t o m a k e Pr u s s i a f e e l h u m i l i -
a t e d
; s h e w i l l b e m o r e i r r i t a b l e t h a n e v e r , a n d Im y s e l f
d o n o t p e r c e i v e h o w s h e c a n r e v e r s e h e r p o l i c y . "
He w e n t o n t o s t a t e t h a t h i s s u c c e s s i n i n d u c i n g Ro t h s -
c h i l d t o p a y h a d p r o d u c e d a f e w d a y s ' p e a c e , b u t t h a t
Pr u s s i a ' s a i m w a s s t i l l m e r e l y t o h u m i l i a t e t h e D i e t . " As
Ih a v e s a i d , " Th u n ' s l e t t e r c o n t i n u e d , " Ia m c o n v i n c e d
t h a t Pr u s s i a w i l l n o t a l l o w m a t t e r s t o p r o c e e d t o e x -
t r e m e s , t h a t i s , t o a b r e a c h , i f s h e s e e s i n o t h e r s t h e f i r m
d e t e r m i n a t i o n n o t t o b e i n t i m i d a t e d b y t h e i d e a o f p r o -
c e e d i n g t o e x t r e m e s . An d i t s e e m s t o m e t h a t m a t t e r s h a v e
n o w r e a c h e d t h e p o i n t w h e r e s u c h a f i r m a t t i t u d e i s a n
a b s o l u t e n e c e s s i t y . "
Am s c h e l M e y e r Ro t h s c h i l d , h a v i n g y i e l d e d , t o Th u n ' s
p r e s s u r e , h a d r e p l i e d t o t h e c o u n s e l o r , W e t z e l , s t a t i n g
t h a t h e w o u l d b e e x c e e d i n g t h e b o u n d s o f h i s b u s i n e s s
d u t i e s i n a n u n w a r r a n t a b l e m a n n e r i f h e w e r e t o t a k e
a c c o u n t o f a d i f f e r e n c e o b t a i n i n g i n t h e h i g h F e d e r a l
As s e m b l y , a n d w e r e t o r e f u s e t o g r a n t a n a d v a n c e w h i c h
h e h a d b e e n r e q u i r e d t o m a k e b y t h e h i g h F e d e r a l As -
s e m b l y t h r o u g h t h e r e c o g n i z e d c h a n n e l o f i t s Pr e s i d i n g
D e l e g a t e . He w a s u n a b l e t o t a k e c o g n i z a n c e o f t h e p r o -
t e s t a n d w a s c o m p e l l e d t o m a k e t h e m o n e y a v a i l a b l e .
3 0 0

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
W e t z e l a c c o r d i n g l y , r e p o r t e d 8 6 t h a t Am s c h e l M e y e r
w a s p a y i n g t h e m o n e y i n s p i t e o f a n y r e p r e s e n t a t i o n s t h a t
h a d b e e n m a d e . He s a i d t h a t t h e b a n k e r w o u l d r a t h e r
s a c r i f i c e t h e m o n e y t h a n f a l l o u t w i t h Au s t r i a ; a n d t h a t
Co u n t Th u n w a s h i g h l y i n d i g n a n t , a s h e r e g a r d e d t h e
p r o t e s t a s a n i n s u l t t o t h e w h o l e D i e t , a n d w i s h e d t h e r e -
f o r e t o b e r e l i e v e d f r o m t h e r e p r e s e n t a t i o n o f Pr u s s i a .
Th u n w a s n o t c o n t e n t w i t h l e a v i n g i t t o W e t z e l t o r e -
p o r t , b u t h i m s e l f w r o t e d i r e c t t o h i s Pr u s s i a n c o l l e a g u e ,
B i s m a r c k , a t B e r l i n . In t h i s l e t t e r h e a l s o s t a t e d t h a t h e
w o u l d n e v e r h a v e b e l i e v e d
8 4
t h a t a G e r m a n g o v e r n m e n t
b e l o n g i n g t o t h e D i e t c o u l d s o f a r h a v e d e g r a d e d t h e
a u t h o r i t y a n d p r e s t i g e o f t h e G e r m a n D i e t a s t o p r o t e s t
t o a J e w a g a i n s t t h e r e s o l u t i o n o f t h e D i e t . " Ic o n f e s s , "
w r o t e Th u n , " t h a t s o l o n g a s Il i v e , Is h a l l b l u s h t o t h i n k
o f i t . Th e e v e n i n g w h e n Co u n s e l o r W e t z e l s h o w e d m e
t h e p r o t e s t , Ic o u l d h a v e c r i e d l i k e a c h i l d a t t h e d i s -
g r a c e t o o u r c o m m o n f a t h e r l a n d . "
B i s m a r c k r e p l i e d v e r y s h a r p l y : 8 8 " It i s n o t o u r f a u l t
i f , a s y o u s a y , t h e D i e t h a s b e e n d r a g g e d i n t h e m u d
t h r o u g h a r g u m e n t s w i t h a J e w ; i t i s t h e f a u l t o f t h o s e
w h o h a v e e x p l o i t e d t h e D i e t ' s b u s i n e s s c o n n e c t i o n w i t h
a J e w i n o r d e r i n a n u n c o n s t i t u t i o n a l m a n n e r t o d i v e r t
m o n e y s t h a t w e r e i n t h e J e w ' s k e e p i n g f r o m t h e o b j e c t
t o w h i c h t h e y h a d b e e n a s s i g n e d
. "
Th u n s t i l l f u r t h e r e m b i t t e r e d t h e d i s p u t e b y d e c l a r -
i n g t h e Pr u s s i a n o f f i c i a l o f t h e f e d e r a l t r e a s u r y , Cr i i g e r ,
w h o h a d p r o t e s t e d a g a i n s t m o n e y b e i n g p a i d b y Ro t h s -
c h i l d , d i s m i s s e d f r o m h i s o f f i c e .
M e a n w h i l e a t e l e g r a m w a s r e c e i v e d f r o m Vi e n n a ,
w h e r e t h e g o v e r n m e n t w a s h o r r i f i e d a t t h e e n t i r e l y u n -
e x p e c t e d d i s p u t e w i t h Pr u s s i a . Th u n w a s s e v e r e l y r e p r i -
m a n d e d , S c h w a r z e n b e r g g i v i n g h i m t o u n d e r s t a n d t h a t
h e w a s n o t p r e p a r e d t o r u n t h e r i s k o f s u d d e n l y o n e d a y
l e a r n i n g b y t e l e g r a m f r o m F r a n k f o r t t h a t Au s t r i a w o u l d
h a v e t o m a r c h a g a i n s t Pr u s s i a . Th i s c o l d d o u c h e f r o m
Vi e n n a h a d a v e r y d a m p i n g e f f e c t o n t h e g r a v e l y o f -
L o u i s N a p o l e o n , s a v o u r , a n d B i s m a r c k

3 0 1
f e n d e d Th u n . B u t h i s f i r s t i n t e r v i e w w i t h B i s m a r c k ,
.
w h o r e t u r n e d t o F r a n k f o r t o n J a n u a r y
2 3 , w a s o f a
h i g h l y e m o t i o n a l n a t u r e
. B i s m a r c k t o o k a v e r y f i r m t o n e ,
a n d a m o n g o t h e r t h i n g s r e f e r r e d t o t h e m a t t e r o f Cr u g e r ,
g i v i n g Th u n t o u n d e r s t a n d t h a t h i s g o v e r n m e n t w o u l d
" n e v e r r e c o g n i z e t h e r i g h t o f t h e Pr e s i d i n g D e l e g a t e t o
d i s m i s s a n o f f i c i a l o f t h e k i n g d o m o f Pr u s s i a . "
Th u n e n d e a v o r e d t o m a i n t a i n h i s p o i n t o f v i e w a g a i n s t
B i s m a r c k ' s " s c h o o l m a s t e r ' s t o n e , " a s h e c a l l e d i t . W h e n
B i s m a r c k , o n t a k i n g h i s l e a v e , s t a t e d f o r t h e s e c o n d t i m e
t h a t h e e x p e c t e d t o p a c k h i s t r u n k s i n a f e w d a y s , Th u n
r e p l i e d t h a t h e c o u l d b u t c o n g r a t u l a t e h i m o n g e t t i n g
o u t o f a p o s i t i o n w h i c h m u s t h a v e b e e n a h i g h l y p a i n f u l
a n d u n s a v o r y o n e f o r a m a n o f h o n o r , s i n c e t h e g o v e r n -
m e n t s t h e m s e l v e s a t t a c h e d s o l i t t l e i m p o r t a n c e t o t h e
m a i n t e n a n c e o f t h e h o n o r a n d p r e s t i g e o f a n a s s e m b l y i n
w h i c h t h e y w e r e j o i n t l y r e p r e s e n t e d , t h a t t h e y w e r e p r e -
p a r e d
t o p r o t e s t t o a J e w a g a i n s t t h i s r e s o l u t i o n . " '
B i s m a r c k s h o w e d t h e Ro t h s c h i l d s v e r y p l a i n l y h o w
a n g r y h e w a s w i t h t h e m . He d i d n o t a c c e p t a n y o f t h e i r
i n v i t a t i o n s , a n d s h o w e d t h e m i n e v e r y p o s s i b l e w a y h o w
s t r o n g l y h e d i s a p p r o v e d o f t h e i r c o n d u c t i n t h i s m a t t e r .
Al l t h e Ro t h s c h i l d s ' e f f o r t s t o c o n c i l i a t e h i m a v a i l e d n o t h -
i n g f o r t h e t i m e b e i n g , a n d B i s m a r c k d i d n o t c o n f i n e
h i m s e l f t o a s o c i a l b o y c o t t , b u t i n h i s w r a t h a t t h e Ro t h s -
c h i l d s ' h a v i n g p l a c e d m o n e y a t t h e d i s p o s a l o f t h e D i e t
i n s p i t e o f Pr u s s i a ' s p r o t e s t , h e e n d e a v o r e d a l s o t o s e c u r e
t h a t h i s
g o v e r n m e n t s h o u l d b r e a k o f f a l l b u s i n e s s d e a l -
i n g s w i t h t h e Ho u s e .
As y o u r Ex c e l l e n c y i s a w a r e [ B i s m a r c k w r o t e
o n M a r c h i i t o t h e Pr u s s i a n p r i m e m i n i s t e r ,
M a n t e u f f e l 7 0 ] , t h e f i r m o f M e y e r Am s c h e l v o n
Ro t h s c h i l d a n d S o n s h e r e h a s c o m p l e t e l y i g n o r e d
t h e p r o t e s t
. . .
a n d p a i d t h e s u m o f 6 o , o o o g u l d e n
a t i t s o w n p e r i l , a s t h e h e a d o f t h e f i r m h i m s e l f
s t a t e d , i n o r d e r n o t t o s p o i l i t s r e l a t i o n s w i t h t h e
Im p e r i a l G o v e r n m e n t o f Au s t r i a . Th e p r o t e s t d i d
3 0 2

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
h a v e t h e r e s u l t t h a t i t w a s d e c i d e d n o t c o m p l e t e l y
t o c a r r y o u t t h e r e s o l u t i o n , a u t h o r i z i n g t h e m i l i t a r y
s u b c o m m i t t e e t o t a k e u p a l o a n o f o v e r 2 6 0 , 0 0 0
g u l d e n ; b u t i t w o u l d h a v e b e e n e a s y f o r t h e Ho u s e
o f Ro t h s c h i l d t o f i n d r e a s o n s f o r w i t h h o l d i n g t h e
6 o , o o o g u l d e n , o r f o r p a y i n g t h e m o n e y i n s o m e o t h e r
w a y , w i t h o u t e x c e s s i v e c o l l u s i o n w i t h t h e Au s t r i a n
G o v e r n m e n t . Y o u r Ex c e l l e n c y m a y i n f e r t h e e x t e n t
t o w h i c h t h a t Ho u s e i s a n x i o u s t o p l e a s e t h e Au s -
t r i a n G o v e r n m e n t i n e v e r y p o s s i b l e w a y f r o m t h e
f a c t t h a t h e i m m e d i a t e l y i n f o r m e d t h e Au s t r i a n
D e l e g a t e o f e v e r y r e m i t t a n c e t h a t h e r e c e i v e s f o r
t h e Pr u s s i a n D e l e g a t i o n t o t h e D i e t . O n o n e o c c a -
s i o n Co u n t Th u n a c t u a l l y i n f o r m e d m e t h a t t h e
Ho u s e o f Ro t h s c h i l d h a d b e e n i n s t r u c t e d t o m a k e
s u c h a p a y m e n t b e f o r e Ih a d r e c e i v e d a n y o f f i c i a l
i n t i m a t i o n t o t h a t e f f e c t . Th e c o n d u c t o f t h e Ho u s e
o f Ro t h s c h i l d i n c o n n e c t i o n w i t h t h i s p r o t e s t h a s
c a u s e d m e t o i g n o r e a l l i n v i t a t i o n s f r o m t h e He r r
v o n Ro t h s c h i l d r e s i d e n t h e r e , a n d i n g e n e r a l t o g i v e
h i m t o u n d e r s t a n d t h a t h i s a c t i o n h a s b e e n h i g h l y
d i s p l e a s i n g t o t h e Pr u s s i a n G o v e r n m e n t
.
Ic a n n o t b u t a l s o r e g a r d i t a s d e s i r a b l e t h a t t h e
b u s i n e s s r e l a t i o n s h i p i n w h i c h t h e Pr u s s i a n D e l e g a -
t i o n t o t h e D i e t h a s h i t h e r t o s t o o d w i t h t h e Ho u s e o f
Ro t h s c h i l d s h o u l d b e b r o k e n o f f , a n d t h a t t h e b u s i -
n e s s s h o u l d b e t r a n s f e r r e d t o a n o t h e r f i r m h e r e
. Y o u r
Ex c e l l e n c y w i l l a g r e e w i t h m e t h a t a c o n t i n u a n c e
o f t h i s r e l a t i o n s h i p w o u l d b e l i a b l e t o b e m i s i n t e r -
p r e t e d a n d m i g h t b e r e p r e s e n t e d a s i n d i c a t i n g t h a t
t h e Pr u s s i a n G o v e r n m e n t h a d c o n v i n c e d i t s e l f t h a t
t h e Ho u s e o f Ro t h s c h i l d c o u l d n o t h a v e a c t e d o t h e r -
w i s e .
B i s m a r c k a c c o r d i n g l y p r o p o s e d M o r i t z Re t h m a n n a s
b e i n g a s u i t a b l e h o u s e t o b e e n t r u s t e d w i t h t h e b u s i n e s s
i n s t e a d o f t h e Ro t h s c h i l d b a n k
. It h a p p e n e d , h o w e v e r ,
t h a t t h e Ro t h s c h i l d s h a d a s u p p o r t e r i n t h e p r e s i d e n t o f
t h e Pr e u s s i s c h e S e e h a n d l u n g , w h o s e n a m e w a s B l o c h
.
M a n t e u f f e l h a d r e f e r r e d B i s m a r c k ' s p r o p o s a l t o t h e Pr u s -
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 0 3
s i a n f i n a n c e m i n i s t e r B o d e l s c h w i n g h , a n d h e h a d c o n -
s u l t e d B l o c h . Pr u s s i a h a d c o n c l u d e d l o a n s w i t h t h e Ho u s e
o f Ro t h s c h i l d b o t h i n i 8 5 o a n d i n 1 8 5 2 a n d a l t h o u g h
B l o c h e x p r e s s e d t h e o p i n i o n t h a t t h e h o u s e o f B e t h m a n n
w a s p e r f e c t l y s o u n d a n d r e l i a b l e , h e s u g g e s t e d t h a t t h e r e
w e r e " o t h e r c o n s i d e r a t i o n s o f a g e n e r a l n a t u r e , e s p e c i a l l y
i n t h e i n t e r e s t s o f t h e S e e h a n d l u n g , a g a i n s t t h e c h a n g e . "
7 1
He m e n t i o n e d t h a t t h e S e e h a n d l u n g h a d v e r y c o n s i d e r -
a b l e s u m s o n d e p o s i t w i t h t h e Ro t h s c h i l d s , w h i c h t h e y
c o u l d a t a n y m o m e n t d e a l w i t h a s t h e y p l e a s e d , a n d t h e
i m p o r t a n t q u e s t i o n a r o s e " w h e t h e r , h a v i n g r e g a r d t o t h e
s u b s t a n t i a l a m o u n t s t h a t a r e i n v o l v e d i n t h i s c a s e , a n -
o t h e r f i r m w o u l d b e i n a p o s i t i o n t o o f f e r t h e s a m e s e c u r -
i t y a s t h e Ro t h s c h i l d s u n d o u b t e d l y a f f o r d . "
B l o c h f u r t h e r p o i n t e d o u t t h a t w h e r e a s t h e B e t h m a n n s ,
i n s p i t e o f t h e i n v i t a t i o n t h e y h a d r e c e i v e d f r o m h i m , h a d
t a k e n n o s h a r e i n t h e l o a n o f i 8 5 o o r i n t h e l o a n o f 1 8 5 2 ,
t h e Ro t h s c h i l d s h a d i n v e s t e d v e r y c o n s i d e r a b l e s u m s i n
b o t h t h e s e l o a n s , a n d h a d a l w a y s c o o p e r a t e d m o s t r e a d -
i l y w i t h t h e S t a t e o f Pr u s s i a i n o t h e r f i n a n c i a l o p e r a t i o n s
.
Th e y m u s t t h e r e f o r e o b v i o u s l y f e e l t h e m s e l v e s s l i g h t e d
b y t h e s u d d e n w i t h d r a w a l o f t h e b u s i n e s s i n q u e s t i o n
;
a n d b e s i d e s , i t w a s p o s s i b l e t h a t o n a f u t u r e o c c a s i o n t h e
s u c c e s s o f s i m i l a r f i n a n c i a l o p e r a t i o n s m i g h t b e f r u s t r a t e d
t h r o u g h t h e o p p o s i t i o n o f t h e s e b a n k e r s w h o , t h r o u g h
t h e i r e x t e n s i v e m e a n s , e x e r c i s e d a d e t e r m i n i n g i n f l u e n c e
o n t h e m o n e y m a r k e t , a n d t h a t i n a n y c a s e , w i t h o u t t h e i r
c o o p e r a t i o n t h e s u c c e s s o f s u c h o p e r a t i o n s w o u l d b e m a d e
m u c h m o r e d i f f i c u l t .
B l o c h f u r t h e r s t a t e d t h a t h e w a s " f a r f r o m h o l d i n g
a b r i e f f o r t h e He r r e n v o n Ro t h s c h i l d , o r f r o m w i s h i n g
t o g i v e t h e m a n y a d v a n t a g e i n c o n s i s t e n t w i t h t h e p u b -
l i c i n t e r e s t , " a n d e x p r e s s e d t h e o p i n i o n t h a t t h e y w e r e
h a r d l y l i k e l y t o f a v o r Au s t r i a a s a g a i n s t Pr u s s i a , s i n c e
t h e i r a t t i t u d e i n f i n a n c i a l t r a n s a c t i o n s w a s a f f e c t e d b y
p u r e l y b u s i n e s s c o n s i d e r a t i o n s .
Ha v i n g r e g a r d t h e r e f o r e t o t h e b u s i n e s s r e l a t i o n s h i p
3 0 4

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
b e t w e e n t h e S e e h a n d l u n g a n d t h e Ro t h s c h i l d s , h e w a s
i n f a v o r o f i g n o r i n g B i s m a r c k ' s p r o p o s a l .
M a n t e u f f e l t h e r e u p o n d e c i d e d t h a t Pr u s s i a ' s b u s i n e s s
r e l a t i o n s h i p w i t h t h e Ro t h s c h i l d s s h o u l d n o t b e b r o k e n
o f f
. Th e y o n t h e i r s i d e d i d n o t w e a r y i n t h e i r e n d e a v o r s
t o o b t a i n B i s m a r c k ' s f o r g i v e n e s s a n d r e e s t a b l i s h t h e m -
s e l v e s i n h i s f a v o r .
Ca r l Ro t h s c h i l d , S o l o m o n ' s s o n An s e l m , a n d i n d e e d
S o l o m o n h i m s e l f , w h o w a s a t t h e t i m e o n a s h o r t v i s i t
t o F r a n k f o r t , c a l l e d o n e a f t e r a n o t h e r , o n B i s m a r c k , t o
e x p r e s s t h e i r r e g r e t a t w h a t h a d h a p p e n e d . Y o u n g An -
s e l m w e n t s o f a r a s t o a t t r i b u t e t h e i n c i d e n t e n t i r e l y t o
t h e s e n i l i t y o f h i s u n c l e , w h o w a s a l r e a d y s e v e n t y - s e v e n
y e a r s o l d , s a y i n g t h a t h e h a d b e e n s o f i e r c e l y t h r e a t e n e d
b y Th u n t h a t h e h a d f i n a l l y a c q u i e s c e d i n t h e p a y m e n t .
M e a n w h i l e t h e q u e s t i o n o f t h e f l e e t h a d b e e n s e t t l e d b y
a g r e e i n g t h a t Pr u s s i a s h o u l d n o t h a v e t o m a k e a n y f u r -
t h e r c l a i m a n d t h e f l e e t i t s e l f s h o u l d b e p u t u p t o a u c t i o n .
In d e e d , Pr u s s i a w a s i n d e m n i f i e d f o r h a v i n g p a i d m o r e
a t t h e b e g i n n i n g b y h a v i n g t w o s h i p s c e d e d t o h e r .
Th e r a p p r o c h e m e n t b e t w e e n t h e Ro t h s c h i l d s a n d B i s -
m a r c k w a s p r o m o t e d b y t h e f a c t t h a t Co u n t Th u n , w h o
w a s n o t p a r t i c u l a r l y w e l l d i s p o s e d t o t h e J e w s , s u p p o r t e d
a p r o t e s t b r o u g h t f o r w a r d b y t w e l v e Ca t h o l i c c i t i z e n s
o f F r a n k f o r t a g a i n s t t h e e x t e n s i o n t o t h e J e w s o f t h e
r i g h t s o f c i t i z e n s h i p g r a n t e d o n O c t o b e r 8 , 1 8 4 8 , a n d F e b -
r u a r y 2 0 ,
1 8 4 9 , w h i c h w e r e d e c r i e d a s " r e v o l u t i o n a r y l e g -
i s l a t i o n . "
Th e S e n a t e o f F r a n k f o r t s e n t f o r w a r d t h i s p r o t e s t t o
t h e D i e t , a n d o n Au g u s t
5 ,
1 8 5 2 t h e D i e t r e s o l v e d t h a t
t h e l a w o f F e b r u a r y 2 0 , 1 8 4 9 , c o n f e r r i n g o n t h e J e w s
e q u a l c i v i l a n d p o l i t i c a l r i g h t s , w a s t o b e r e g a r d e d a s
" n o t l e g a l l y e n a c t e d , " a n d t h a t t h e F r e e Ci t y o f F r a n k -
f o r t s h o u l d b e r e q u e s t e d t o a n n o u n c e a c c o r d i n g l y t h a t
t h e l a w w a s n o t v a l i d .
As t h i s p r o p o s a l h a d e m a n a t e d f r o m t h e Au s t r i a n
Ca t h o l i c p a r t y i t w a s o p p o s e d b y B i s m a r c k , w i t h t h e
L o u i s
N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 0
5
r e s u l t t h a t t h e Pr u s s i a n d e l e g a t e f o u n d h i m s e l f o n t h e
s a m e s i d e a s t h e Ro t h s c h i l d s , w h o w e r e w a t c h i n g t h e f u r -
t h e r d e v e l o p m e n t o f t h e m a t t e r w i t h d e e p a n x i e t y
. An -
s e l m Ro t h s c h i l d a p p e a l e d t o Vi e n n a w i t h a n u r g e n t r e -
q u e s t t o S c h w a r z e n b e r g t h a t t h e i m p e r i a l c o u r t s h o u l d
u s e i t s i n f l u e n c e t o i n s u r e t h a t t h e r e s o l u t i o n o f t h e D i e t
s h o u l d n o t r e s u l t i n t h e F r a n k f o r t J e w s s u s t a i n i n g a r e -
v e r s e w h i c h w o u l d b e u n j u s t a n d n o t i n a c c o r d a n c e w i t h
t h e g e n e r a l g o o d
. He p o i n t e d o u t t h a t o u t o f 5 7 , 5 5 0 c i t i -
z e n s , o n l y s i x p e r c e n t , t h a t i s 3 , 5 0 0 , w e r e J e w s s o t h a t
i t w a s r i d i c u l o u s t o f e a r b e i n g o u t v o t e d .
W h e n i n t h e m i d d l e o f N o v e m b e r , 1 8 5 2 , Co u n t Th u n
w a s r e c a l l e d f r o m F r a n k f o r t , B i s m a r c k f e l t t h a t h e h a d
c o m p l e t e l y c a r r i e d t h e d a y , a n d h e w a s p r e p a r e d t o t a k e
t h e b l a m e f o r t h e i n c i d e n t o f t h e Ro t h s c h i l d a d v a n c e
. He
a g a i n a c c e p t e d i n v i t a t i o n s t o t h e Ro t h s c h i l d s , a n d h i s a t -
t i t u d e i m p l i e d , n o t m e r e l y t h a t h e h a d b e e n r e c o n c i l e d t o
t h e Ho u s e o f Ro t h s c h i l d , b u t t h a t h i s f e e l i n g s h a d
c h a n g e d c o m p l e t e l y i n t h e i r f a v o r
.
W h e n l a t e r o n M a n t e u f f e l a g a i n a s k e d B i s m a r c k f o r
h i s o p i n i o n i n t h e m a t t e r o f a p p o i n t i n g Ro t h s c h i l d c o u r t
b a n k e r t o Pr u s s i a , h e n o l o n g e r f o u n d h i m o p p o s e d t o
t h e i d e a . M a n t e u f f e l e m p h a s i z e d t h a t i t w o u l d " n o t b e
e x a c t l y e a s y t o c a l l s u c h a n i m p o r t a n t b a n k t o a c c o u n t
w i t h r e f e r e n c e t o
. a n y p r o f i t s i t m i g h t m a k e , " 7 ' a n d
w i s h e d t o b e t o l d w h e t h e r h e c o u l d g r a n t t h e Ro t h s c h i l d s
t h e t i t l e t h e y d e s i r e d o r w h e t h e r t h e i r s y m p a t h i e s w e r e
s t i l l p r e d o m i n a n t l y a n t i - Pr u s s i a n .
" M y i n t e r e s t i n t h e m a t t e r , " w r o t e M a n t e u f f e l , " I
w o u l d
. t e l l y o u i n t h e s t r i c t e s t c o n f i d e n c e , i s s o m e w h a t
t o d i v e r t He r r v o n Ro t h s c h i l d f r o m t h e e f f o r t s h e i s m a k -
i n g h e r e t o i m p r o v e t h e Vi e n n a e x c h a n g e , a n d t o i n d u c e
h i m f a v o r a b l y t o c o n s i d e r t h e c o n s t r u c t i o n o f a r a i l w a y
w h i c h w e m a y w i s h t o h a v e b u i l t
. "
B i s m a r c k r e p l i e d " t h a t h e h a d n o o b j e c t i o n s t o r a i s e
a g a i n s t t h e t i t l e b e i n g g r a n t e d , a n d t h a t i n h i s o p i n i o n
t h e r e w a s r e a s o n t o b e l i e v e t h a t t h e p e r s o n s c o n c e r n e d
3 0 6

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
w o u l d h i g h l y a p p r e c i a t e t h e h o n o r w h i c h i t w a s i n t e n d e d
t o c o n f e r u p o n t h e m
. " Th e Ro t h s c h i l d s , " B i s m a r c k w r o t e ,
" h a v e n e v e r b e e n r e a l l y g u i l t y o f a n t i - Pr u s s i a n s y m p a -
t h i e s
; a l l t h a t h a p p e n e d w a s t h a t o n t h e o c c a s i o n o f a
d i s p u t e t h a t o c c u r r e d b e t w e e n o u r s e l v e s a n d Au s t r i a
a b o u t a y e a r a g o o n t h e q u e s t i o n w h e t h e r c e r t a i n d e p o s i t s
s h o u l d b e m a d e a v a i l a b l e f o r t h e f l e e t , t h e y w e r e m o r e
a f r a i d o f Au s t r i a t h a n o f u s
. N o w , s i n c e t h e Ro t h s c h i l d s
c a n n o t p r o p e r l y b e e x p e c t e d t o s h o w s u c h c o u r a g e a s
w o u l d l e a d t h e j u s t u m a c t e n a c e m p r o p o s i t i v i r u m
t o
r e s i s t s u c h a r d o r e m c i v i u m p r a v a j u b e n t i u m
a s Co u n t
Th u n d e v e l o p e d o n t h a t o c c a s i o n , a n d a s t h e o t h e r m e m -
b e r s o f t h e f a m i l y h a v e s i n c e a p o l o g i z e d f o r t h e a t t i t u d e
o f B a r o n Am s c h e l , w h o m t h e y d e s c r i b e d a s s e n i l e [ h e
d i e d i n r 8 5 5 ] , If e e l t h a t , i n v i e w o f t h e s e r v i c e s w h i c h
t h i s f i n a n c i a l p o w e r i s a b l e t o r e n d e r , t h e i r m i s t a k e o n
t h i s o c c a s i o n m a y b e c o n s i g n e d t o o b l i v i o n . "
O f h i s o w n i n i t i a t i v e B i s m a r c k w e n t e v e n f u r t h e r
. He
r e p e a t e d l y r e c o m m e n d e d , b o t h i n c o n v e r s a t i o n a n d i n
w r i t i n g , t h a t t h e b a n k i n g h o u s e w h i c h , w i t h t h e e x c e p -
t i o n o f t h e s i n g l e i n s t a n c e i n J a n u a r y o f t h e p r e c e d i n g
y e a r , h a d a l w a y s s h o w n i t s w i l l i n g n e s s , i n i t s f i n a n c i a l
d e a l i n g s w i t h t h e Pr u s s i a n d e l e g a t i o n , t o b e o f s e r v i c e
t o h i s g o v e r n m e n t , s h o u l d b e g r a n t e d s o m e d i s t i n c t i o n
.
Th e b l a m e i n t h a t i n s t a n c e w a s , a s s t a t e d b y m e m b e r s o f
t h e Ho u s e o f Ro t h s c h i l d t h e m s e l v e s , a t t r i b u t a b l e t o t h e
s e n i l i t y o f Am s c h e l Ro t h s c h i l d , w h o h a d a l l o w e d h i m -
s e l f t o b e i n t i m i d a t e d b y t h e t h r e a t s o f Co u n t Th u n .
Th e c o n v i c t i o n h a s r e p e a t e d l y b e e n f o r c e d u p o n
m e [ B i s m a r c k w r o t e 7 4 ] t h a t t h e l e a d e r s o f t h i s f i n a n -
c i a l p o w e r w o u l d v a l u e a d i s t i n c t i o n c o n f e r r e d u p o n
t h e m b y Pr u s s i a , s i n c e t h e y d o n o t m e r e l y v a l u e p e r -
s o n a l l y h o n o r s c o n f e r r e d u p o n t h e m
. Th e y a l s o r e -
g a r d o f f i c i a l m a r k s o f t h e g o o d - w i l l o f g o v e r n m e n t s ,
e s p e c i a l l y o f t h o s e g o v e r n m e n t s w h o s e f i n a n c i a l
h o u s e i s i n o r d e r , a s a n i m p o r t a n t e l e m e n t i n t h e i r
c r e d i t
. Th a t t h e r e a r e o c c a s i o n s w h e n o t h e r t h a n
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 0 7
p u r e l y b u s i n e s s c o n s i d e r a t i o n s a r e a d e t e r m i n i n g
f a c t o r o n t h e a t t i t u d e o f t h e Ho u s e o f Ro t h s c h i l d i n
f i n a n c i a l o p e r a t i o n s , s e e m s t o m e t o b e i n d i c a t e d b y
t h e s u c c e s s w i t h w h i c h Au s t r i a h a s s e c u r e d t h e f i n a n -
c i a l s e r v i c e s o f t h e Ho u s e , s i n c e Ia m c o n v i n c e d t h a t ,
a p a r t f r o m t h e f i n a n c i a l p r o f i t
t o . b e g a i n e d b y s u c h
t r a n s a c t i o n s ,
t h e i n f l u e n c e w h i c h t h e Im p e r i a l G o v -
e r n m e n t w a s a b l e t o b r i n g t o b e a r u p o n t h e J e w i s h
p r o b l e m a t F r a n k f o r t , p r o f o u n d l y a f f e c t e d t h e Ho u s e
o f Ro t h s c h i l d . Th e e f f o r t s . . . w h i c h Au s t r i a m a d e
i n t h e c o u r s e o f t h e s u m m e r , t o s e c u r e t h e e m a n c i p a -
t i o n o f t h e J e w s , s e e m t o b e a t t r i b u t a b l e t o t h e e f f o r t s
o f t h e Ro t h s c h i l d s . . . Th e p r e s e n t s e n i o r p a r t n e r
o f t h e Ho u s e h e r e , M e y e r Ca r l v o n Ro t h s c h i l d , h a s
r e p e a t e d l y g i v e n m e t o u n d e r s t a n d h o w g r e a t l y h e
d e s i r e s t o r e c e i v e t h e Re d Ea g l e o f t h e Th i r d Cl a s s ,
w h i c h o r d e r h a s b e e n c o n f e r r e d u p o n t w o o f h i s s u b -
o r d i n a t e s , o n e o f t h e m , w h o s e n a m e i s G o l d s c h m i d t ,
b e i n g a t Vi e n n a , a n d , a s w a s p a r t i c u l a r l y e m p h a s i z e d
b y He r r v o n Ro t h s c h i l d , u p o n t h e e l d e s t o f t h e
b r o t h e r s v o n B e t h m a n n , w h o i s Pr u s s i a n Co n s u l
h e r e .
Iw o u l d r e g a r d t h e c o n f e r r i n g o f s u c h a n o r d e r o n
M e y e r Ca r l v o n Ro t h s c h i l d a s b e i n g w h o l l y i n t h e
i n t e r e s t s o f t h e S t a t e , a n d Ia m w i l l i n g t o r e c o m m e n d
t o y o u r Ex c e l l e n c y t h a t i n a d d i t i o n t o t h i s o r d e r , t h e
h o n o r a b l e d i s t i n c t i o n o f Ro y a l Co u r t B a n k e r t o Hi s
M a j e s t y t h e K i n g s h o u l d , f o r t h e r e a s o n s a b o v e
i n d i c a t e d , a l s o b e c o n f e r r e d u p o n a l l t h e m e m b e r s
o f t h e Ho u s e o f Ro t h s c h i l d .
Th e Pr u s s i a n f i n a n c e m i n i s t e r , h o w e v e r , u n l i k e M a n -
t e u f f e l , w a s n o t w e l l d i s p o s e d t o t h e Ro t h s c h i l d s
. He
i g n o r e d t h e o p i n i o n e x p r e s s e d b y t h e p r e s i d e n t o f t h e
S e e h a n d l u n g , a n d i n f o r m e d M a n t e u f f e l t h a t i n h i s v i e w
" t h e f i r m o f t h e b r o t h e r s v o n Ro t h s c h i l d h a s o f r e c e n t
y e a r s s h o w n i t s e l f l e s s d i s p o s e d t o a c t i n t h e i n t e r e s t s o f
o u r G o v e r n m e n t t h a n p r e v i o u s l y . " He t h e r e f o r e h e l d t h a t
n e i t h e r t h e O r d e r o f t h e Re d Ea g l e n o r t h e t i t l e o f Co u r t
3 0 8

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
B a n k e r s h o u l d b e c o n f e r r e d u p o n t h e m . Th e f i n a n c e m i n -
i s t e r ' s a i m a p p a r e n t l y w a s , b y t h i s r e f u s a l , t o i n d u c e t h e
! Ro t h s c h i l d s t o p r o v e t h e m s e l v e s m o r e a m e n a b l e t o t h e
w i s h e s o f t h e Pr u s s i a n g o v e r n m e n t i n f i n a n c i a l m a t t e r s ,
i n o r d e r t h a t t h e y m i g h t b e d e e m e d w o r t h y o f s u c h
i s t i n c t i o n .
" Hi s M a j e s t y t h e K i n g , " M a n t e u f f e l w r o t e t o B i s -
m a r c k , " " h a s n o o b j e c t i o n i f , w h e n a s u i t a b l e o c c a s i o n
o f f e r s , i t s h o u l d b e i n d i c a t e d t o t h e m e m b e r s o f t h e f i r m
t h a t i t i s g r e a t l y r e g r e t t e d t h a t i n t h e c i r c u m s t a n c e s i t i s
n o t p o s s i b l e t o c o n f e r t h e m a r k o f f a v o r c o n t e m p l a t e d ,
b u t t h a t i t i s h o p e d t h a t t h e Ho u s e w i l l f i n d a n o t h e r
o p p o r t u n i t y o f e n a b l i n g t h e G o v e r n m e n t t o d o s o . "
B i s m a r c k i n f o r m e d t h e Ro t h s c h i l d s t h a t M a n t e u f f e l
w a s n o t a v e r s e f r o m t h e i d e a o f c o n f e r r i n g a d i s t i n c t i o n
u p o n t h e m , ' ' b u t t h a t t h e f i n a n c e m i n i s t e r h a d " c o m -
p l a i n e d t o t h e K i n g r e g a r d i n g t h e a t t i t u d e o f t h e Ho u s e
i n r e c e n t t i m e s . " Th e Ro t h s c h i l d s p r o t e s t e d t h a t t h e y
w e r e e x c e e d i n g l y h u r t a t t h i s s u g g e s t i o n , a n d t h a t t h e y
h a d n o i d e a a t a l l w h a t c o u l d b e t h e b a s i s f o r i t . Th e
n e w s p a p e r s p u t f o r w a r d t h e i d e a t h a t , s i n c e t h e O r d e r
o f t h e Re d Ea g l e w a s i n t h e f o r m o f a c r o s s , a s p e c i a l
f o r m o f i t w o u l d h a v e t o b e d e s i g n e d f o r t h e J e w s
.
" If t h i s v i e w i s c o r r e c t , " B i s m a r c k w r o t e t o M a n t e u f -
f e l , " a n y m o r e o r l e s s e m a n c i p a t e d J e w s , s u c h a s t h e
Ro t h s c h i l d s a r e , w i t h t h e e x c e p t i o n o f t h e
. v e r y a g e d
Am s c h e l , w i l l l o s e a n y i n c l i n a t i o n t o a d o r n t h e m s e l v e s
w i t h a d e c o r a t i o n w h i c h w i l l h a v e b e c o m e a s t a m p o f
J u d a i s m . "
Ac o n f l i c t a r o s e i n B e r l i n b e t w e e n M a n t e u f f e l , w h o
w a s o n t h e s i d e o f t h e Ro t h s c h i l d s , a n d t h e f i n a n c e m i n -
i s t e r , w h o w a s a g a i n s t t h e m , t h e c o n f l i c t e n d i n g i n t h e
v i c t o r y o f t h e p r i m e m i n i s t e r
. O n F e b r u a r y
1 2 , 1 8 5 3 , t h e
b a n k e r s M e y e r Am s c h e l v o n Ro t h s c h i l d w e r e a p p o i n t e d
' Co u r t B a n k e r s a f t e r a l l " a s a m a r k o f Hi s M a j e s t y ' s
s a t i s f a c t i o n " a n d M a n t e u f f e l h a s t e n e d t o i n f o r m B i s -
m a r c k o f t h i s f a c t , h a v i n g r e a s o n t o b e l i e v e t h a t t h e l a t t e r
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 0 9
w o u l d b e p l e a s e d t o b e t h e f i r s t t o b r i n g t h i s i n f o r m a t i o n
t o t h e Ro t h s c h i l d s ? 7
B i s m a r c k r e p o r t e d t h a t h e h a d d o n e s o , a d d i n g s o m e
i t e m s o f f i n a n c i a l n e w s w h i c h h e h a d h e a r d a t t h e Ro t h s -
c h i l d s ' . Th e r e w a s s u c h a s u p e r a b u n d a n c e o f m o n e y i n
t h e F r a n k f o r t m a r k e t a t t h a t t i m e t h a t Ro t h s c h i l d h a d
t e r m i n a t e d a n d r e p a i d a d e p o s i t o f i , o o o , o o o t h a l e r ,
w h i c h t h e g o v e r n m e n t o f S a x o n y h a d d e p o s i t e d w i t h h i m ,
s t a t i n g t h a t i t c o u l d n o t a f f o r d t o p a y m o r e t h a n i Y 2 % .
" Th i s s u p e r a b u n d a n c e o f m o n e y , " B i s m a r c k w r o t e , "
" i s a t t r i b u t e d b y Ro t h s c h i l d t o t h e f a c t t h a t , p a r t l y
t h r o u g h t h e f e a r o f w a r , a n d p a r t l y t h r o u g h t h e u n c e r -
t a i n t y r e g a r d i n g t h e f u t u r e o f t h e Cu s t o m s U n i o n , t h e
s p i r i t o f e n t e r p r i s e h a s v a n i s h e d , s o t h a t m o n e y i s f l o w i n g
b a c k f r o m b u s i n e s s w i t h o u t b e i n g r e i n v e s t e d . Ro t h s c h i l d
s a i d t h a t h e w o u l d b e e x c e e d i n g l y g r a t e f u l i f h e c o u l d b e
s h o w n a p o s s i b i l i t y o f p l a c i n g h i s m o n e y a t 3 / %
. If t h e
Pr u s s i a n G o v e r n m e n t s h o u l d a t t h e m o m e n t e n t e r i n t o
a n y b u s i n e s s t r a n s a c t i o n w i t h t h e Ho u s e o f Ro t h s c h i l d
w h i c h w o u l d g i v e t h e l a t t e r s o m e o p p o r t u n i t y o f s h o w -
i n g t h e i r p e r s o n a l g o o d - w i l l , Iw o u l d v e n t u r e d u t i f u l l y
t o r e p e a t m y s u g g e s t i o n t h a t t h e m a r k o f r o y a l f a v o r
a l r e a d y g i v e n s h o u l d b e f o l l o w e d u p b y c o n f e r r i n g t h e
.
O r d e r o f t h e Re d Ea g l e o f t h e Th i r d Cl a s s o n B a r o n
M e y e r Ca r l . He i s a t t h e m o m e n t t h e m o s t i n f l u e n t i a l
m e m b e r o f t h e f a m i l y , a n d Ih a v e h a d f u r t h e r p r o o f o f
t h e h i g h v a l u e w h i c h h e a t t a c h e s t o t h e c o n f e r r i n g o f s u c h
a d i s t i n c t i o n u p o n h i m s e l f , a n d o f t h e e a g e r n e s s w i t h
w h i c h h e i s s e e k i n g i t . It w a s i m p o s s i b l e f o r h i m t o
u n d e r s t a n d h o w h e o r h i s Ho u s e c o u l d , a s Ir e c e n t l y g a v e
h i m t o u n d e r s t a n d , h a v e g i v e n t h e F i n a n c e M i n i s t e r a n y
o c c a s i o n f o r d i s s a t i s f a c t i o n
. "
B e t h m a n n , w h o h a d b e e n c h e r i s h i n g t h e h o p e t h a t h e
m i g h t h i m s e l f b e c o m e Co u r t B a n k e r t o Pr u s s i a , a n d
t h e r e b y w i n a v i c t o r y o v e r h i s o l d r i v a l Ro t h s c h i l d , w a s
e x c e e d i n g l y d i s c o n c e r t e d w h e n h e h e a r d t h a t t h e l a t t e r
h a d s u c c e e d e d i n o b t a i n i n g t h e a p p o i n t m e n t . He h a s t e n e d
3 i o

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
t o B i s m a r c k a n d t o l d h i m t h a t t h e r e b u f f w h i c h h e h a d
s u s t a i n e d c o u l d b e c o m p e n s a t e d f o r
o n l y
b y c o n f e r r i n g
a p e r s o n a l d i s t i n c t i o n o n h i m s e l f
. B i s m a r c k ' s a t t i t u d e w a s
n o t e n c o u r a g i n g . " If a i l t o s e e a n y n e c e s s i t y f o r t h i s , "
h e c o m m e n t e d , " a n d r e g a r d h i s a t t i t u d e a s b e i n g m e r e l y
a p r e t e x t f o r h a v i n g h i s v a n i t y s a t i s f i e d b y b e i n g g r a n t e d
t h e O r d e r o f S t . J o h n , w h i c h h e i n d i c a t e d a s b e i n g a
r e a s o n a b l e c o m p e n s a t i o n . Ic a n n o t r e g a r d h i m a s b e i n g
a s u i t a b l e p e r s o n t o b e a r t h i s O r d e r . . . . If , a s h e t h r e a t -
e n e d , h e w e r e t o r e s i g n h i s Co n s u l a t e o u t o f p i q u e a t t h e
d i s t i n c t i o n c o n f e r r e d u p o n t h e Ro t h s c h i l d s , w e s h o u l d
f i n d p l e n t y o f o t h e r s w i l l i n g t o u n d e r t a k e t h e o f f i c e . "
B i s m a r c k ' s a t t i t u d e t o w a r d Au s t r i a h a d r e m a i n e d u n -
a l t e r e d
. W h e n e v e r t h e D i e t s h o w e d a n y s i g n o f a c t i v i t y ,
h e a t t r i b u t e d s o m e s e c r e t o r d e c e i t f u l m o t i v e t o t h e Au s -
t r i a n g o v e r n m e n t a n d i t s n e w r e p r e s e n t a t i v e , B a r o n v o n
Pr o k e s c h - O s t e n . S i m i l a r l y i n t h e i r t r e a t m e n t o f t h e J e w -
i s h p r o b l e m . Th e p r o t e s t o f t h e Ca t h o l i c c i t i z e n s o f
F r a n k f o r t h a d s t i l l n o t b e e n d i s p o s e d o f , a n d B i s m a r c k
e x p r e s s e d t h e s u s p i c i o n
7 8
t h a t Au s t r i a h e r s e l f h a d d e l i b -
e r a t e l y t r i e d t o m a k e t h i s a n i m p o r t a n t i s s u e , s o t h a t i f i t
d e p e n d e d u p o n t h e p r e s i d e n t o f t h e D i e t t o r e t a r d o r
e x p e d i t e i t , t h i s f a c t c o u l d b e u s e d t o b r i n g p r e s s u r e t o
b e a r o n t h e Ho u s e o f Ro t h s c h i l d i n f i n a n c i a l n e g o t i a -
t i o n s
. B i s m a r c k m e a n t t o s u g g e s t t h a t Au s t r i a w o u l d v o t e
o n t h e q u e s t i o n o f t h e r e t e n t i o n o f t h e c o n s t i t u t i o n a l l i b -
e r t y o f t h e J e w s a c c o r d i n g a s t h e Ho u s e o f Ro t h s c h i l d
s h o u l d p r o v e o b l i g i n g t o h e r i n f i n a n c i a l m a t t e r s o r n o t .
" Th e e f f e c t o f s u c h p r e s s u r e , " B i s m a r c k w r o t e ' 8 0 " c a n
b e j u s t l y e s t i m a t e d o n l y w h e n o n e b e a r s i n m i n d t h e
e x c e p t i o n a l l y h i g h i m p o r t a n c e t h a t a l l m e m b e r s o f t h e
Ro t h s c h i l d f a m i l y a t t a c h t o t h e a t t a i n m e n t o f b e t t e r
p o l i t i c a l a n d s o c i a l c o n d i t i o n s , i n t h e i r n a t i v e t o w n o f
F r a n k f o r t e s p e c i a l l y . Th e c h i e f o f t h e Ho u s e h e r e ,
C . M . v o n Ro t h s c h i l d , w h o , o n e g a t h e r s , h a s a d e c i s i v e
i n f l u e n c e i n t h e f a m i l y a f f a i r s , i s e s p e c i a l l y s e n s i t i v e o n
t h i s p o i n t , b y r e a s o n o f t h e r i v a l r y o f Ch r i s t i a n b a n k e r s . "
Ac h i l l e F o u l d
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 1 1 ,
Th e r e w a s n o w a y o f p l e a s i n g B i s m a r c k i n t h i s m a t t e r
.
If Au s t r i a o p p o s e d a n y a l t e r a t i o n i n t h e c o n s t i t u t i o n t h a t
w o u l d d a m a g e t h e J e w s , t h i s p r o v e d h e r s e r v i l i t y t o t h e
Ro t h s c h i l d s a n d h e r d e p e n d e n c e o n t h e J e w s
. If , o n t h e
o t h e r h a n d , s h e s u p p o r t e d s u c h a c h a n g e , t h i s a m o u n t e d
t o 8 1
" t h e r e s u m p t i o n o f h e r f o r m e r p a r a m o u n t p o s i t i o n
i n t h e g o v e r n a n c e o f t h e c i t y "
; a n d t h i s w o u l d b e a d a n -
g e r o u s d e v e l o p m e n t
. B i s m a r c k r e m a i n e d t r u e t o h i s p o l -
i c y o f o p p o s i n g Au s t r i a ' s i n f l u e n c e w i t h t h e D i e t w h e n -
e v e r h e c o u l d
. Th e Pr u s s i a n d e l e g a t e t h e r e f o r e o p p o s e d
t h e p r o t e s t , a n d s u p p o r t e d t h e r e t e n t i o n o f J e w i s h l i b e r -
t i e s i n F r a n k f o r t , t h e r e b y w i n n i n g t h e g r a t i t u d e o f t h e
Ho u s e o f Ro t h s c h i l d
.
Th e p e r s o n a l r e l a t i o n s h i p b e t w e e n t h e o l d b a n k a n d
t h e d e l e g a t e w h o w a s s t i l l t o p l a y s u c h a n i m p o r t a n t p a r t
i n t h e h i s t o r y o f G e r m a n y , r e m a i n e d a v e r y s a t i s f a c t o r y
o n e u n t i l B i s m a r c k ' s o f f i c i a l d u t i e s a t F r a n k f o r t c a m e t o
a n e n d i n 1 8 5 9
.
It w a s n o t a f f e c t e d b y s u c h t e m p o r a r y d i f f i c u l t i e s a s
a r o s e d u r i n g h i s p e r i o d o f o f f i c e a t F r a n k f o r t b e t w e e n
Pr u s s i a a n d t h e Ho u s e o f Ro t h s c h i l d
. Th e r e w e r e t w o
o p p o s i n g p a r t i e s i n t h e Pr u s s i a n g o v e r n m e n t
. Th e p a r t y
t o w h i c h M a n t e u f f e l a n d t h e c a b i n e t ' s a d v i s e r N i e b u h r
b e l o n g e d w e r e f a v o r a b l e t o t h e Ro t h s c h i l d s , w h e r e a s t h e
f i n a n c e m i n i s t e r B o d e l s c h w i n g h d i d n o t a t t e m p t t o c o n -
c e a l h i s d i s l i k e o f t h e m
.
W h e n i n t h e s p r i n g o f 1 8 5 4 , j u s t a f t e r t h e w e s t e r n
Po w e r s a n d Tu r k e y h a d d e c l a r e d w a r o n Ru s s i a , t h e
Pr u s s i a n g o v e r n m e n t w a s f a c e d w i t h t h e p o s s i b i l i t y o f
b e i n g f o r c e d t o t a k e m i l i t a r y m e a s u r e s , M a n t e u f f e l p e r -
s u a d e d t h e k i n g t h a t N i e b u h r s h o u l d b e c o m m i s s i o n e d
t o s o u n d t h e Ho u s e o f Ro t h s c h i l d r e g a r d i n g a p o s s i b l e
l o a n o f 1 5 , o o o , o o o t h a l e r , w i t h o u t t h e f i n a n c e m i n i s t e r
b e i n g t o l d a n y t h i n g a b o u t t h i s
. " N i e b u h r f i x e d o n n e u -
t r a l He i d e l b e r g a s a p l a c e f o r t h e d i s c u s s i o n s , w h i c h w e r e
a t t e n d e d b y M e y e r Ca r l a n d N a t h a n i e l w h o , a l r e a d y a n
i n v a l i d , c a m e f r o m L o n d o n f o r t h e p u r p o s e
. Ev e n t h e
3 1 2

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
a g e d J a m e s w a s a s k e d t o c o m e f r o m Pa r i s t o He i d e l b e r g ,
a f a c t w h i c h c l e a r l y s h o w e d N i e b u h r t h e g r e a t i m p o r -
t a n c e t h a t t h e Ho u s e a t t a c h e d t o t h e c o n c l u s i o n o f t h i s
b u s i n e s s . He t h e r e f o r e h o p e d t o o b t a i n f a v o r a b l e t e r m s
;
b u t t h e Ro t h s c h i l d s p r o c e e d e d w i t h e x t r e m e c a u t i o n a n d
k e p t o n e x c u s i n g t h e m s e l v e s f r o m a n y d e f i n i t e s t a t e m e n t ,
o n t h e g r o u n d t h a t J a m e s w a s s t i l l a b s e n t , u n t i l , a f t e r
t h r e e h o u r s o f n e g o t i a t i o n , N i e b u h r a s k e d t h e m w i t h s o m e
h e a t w h e t h e r t h e y w a n t e d t o d o t h e b u s i n e s s o r n o t ; i f
n o t , w o u l d t h e y k i n d l y s a y n o . It w a s n o t a m a t t e r o f
p o l i t e n e s s b u t o f b u s i n e s s , a n d h e a n d h i s g o v e r n m e n t
w a n t e d t o k n o w w h e r e t h e y s t o o d
. " ' N i e b u h r g o t a d e -
c i d e d y e s , b y w a y o f a n s w e r , a n d t h e y p r o c e e d e d t o a r g u e
a s t o t h e p r i c e a t w h i c h t h e l o a n s h o u l d b e u n d e r w r i t t e n .
Th e Ro t h s c h i l d s o f f e r e d
9 o , b u t N i e b u h r r e p l i e d t h a t
t h i s w a s a n i m p o s s i b l e f i g u r e , a n d h e m u s t h a v e 9 3 , w h i c h
h a d b e e n o f f e r e d e l s e w h e r e . Th e Ro t h s c h i l d s d e c l a r e d
t h a t i t w a s i m p o s s i b l e t h a t s u c h a n o f f e r s h o u l d h a v e
b e e n m a d e b y p e o p l e w h o s e r i o u s l y m e a n t b u s i n e s s . N i e -
b u h r t h e r e u p o n p r o v i s i o n a l l y b r o k e o f f n e g o t i a t i o n s , a n d
r e t u r n e d w i t h M e y e r Ca r l t o F r a n k f o r t , w h e r e h e t o l d
h i m t h a t t h e m i n i s t e r , M a n t e u f f e l , w o u l d g l a d l y h a v e
c o n c l u d e d t h e l o a n w i t h h i m o u t o f r e s p e c t f o r t h e Ho u s e
o f Ro t h s c h i l d a n d o w i n g t o h i s f e e l i n g t h a t h e w o u l d
t h e n b e c a r r y i n g t h r o u g h a p l a i n a n d r e l i a b l e t r a n s a c -
t i o n , b u t t h a t t h i s r e q u i r e d a c e r t a i n a m o u n t o f c o u r a g e ,
a s t h e r e w a s p u b l i c o p i n i o n i n Pr u s s i a w h i c h w a s p r e j u -
d i c e d a g a i n s t d o i n g b u s i n e s s w i t h h i s Ho u s e .
O n J u n e 8 , t h e n e g o t i a t i o n s w e r e r e s u m e d a t Ha n o v e r
w i t h t h e Pa r i s a n d F r a n k f o r t Ro t h s c h i l d s . Th e s e b o t h
r e p e a t e d t h e p r e v i o u s o f f e r m a d e , b u t a p p e a r e d v e r y d i s -
t u r b e d r e g a r d i n g t h e p o l i t i c a l s i t u a t i o n , a n d a s k e d t h a t
u n t i l t h e l o a n w a s f u l l y s u b s c r i b e d , n o Pr u s s i a n m o b i l i z a -
t i o n s h o u l d b e o r d e r e d , a s t h i s w o u l d i n e v i t a b l y b r i n g
a b o u t a f a l l i n q u o t a t i o n s
. Ag r e e m e n t o n m a n y p o i n t s
h a d a l r e a d y b e e n r e a c h e d , w h e n t h e f i n a n c e m i n i s t e r ,
B o d e l s c h w i n g h , s u d d e n l y h e a r d o f t h e n e g o t i a t i o n s w h i c h
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 1 3
h a d b e e n c a r r i e d o n b e h i n d h i s b a c k , a n d p r o t e s t e d e m -
p h a t i c a l l y
. He b i t t e r l y r e p r o a c h e d ' M a n t e u f f e l a n d N i e -
b u h r , s t a t i n g t h a t t h e Ro t h s c h i l d s h a d o f f e r e d ' " t h e m o s t
w o r t h l e s s c o n d i t i o n s . " 8 4
B o d e l s c h w i n g h s e c u r e d t h e
b r e a k i n g o f f o f d i s c u s s i o n s w i t h t h e Ro t h s c h i l d s , a n d h a d
t h e l o a n s u b s c r i b e d p r i v a t e l y , w i t h a f a i r m e a s u r e o f
s u c c e s s .
M e y e r Ca r l r e t u r n e d t o F r a n k f o r t v e r y m u c h d i s a p -
p o i n t e d , a n d p o u r e d o u t h i s s o u l t o B i s m a r c k , w h o f o u n d
f o o d f o r t h o u g h t i n t h e d i f f e r e n c e s o f o p i n i o n i n h i s o w n
g o v e r n m e n t .
At a b o u t t h i s t i m e , t h e p r e s i d e n t o f t h e g o v e r n i n g b o d y
a t Tr i e r a s k e d B i s m a r c k t o u s e h i s i n f l u e n c e w i t h Ro t h s -
c h i l d o n b e h a l f o f t h e J e w i s h Co m m u n i t y a t Co l o g n e
.
B i s m a r c k f e l t c o m p e l l e d t o r e p l y t h a t , w h i l e h e w a s p r e -
p a r e d t o u s e h i s p e r s o n a l a n d p r i v a t e i n f l u e n c e w i t h t h e
f a m i l y , h e w a s u n a b l e t o a s k a f a v o r
o n b e h a l f o f t h e
Pr u s s i a n g o v e r n m e n t , s i n c e , a s h e s a i d ,
8 6 " t h e c o n d u c t o f
t h e Ho u s e o f Ro t h s c h i l d i n c o n n e c t i o n w i t h t h e l a s t Pr u s -
s i a n l o a n h a s n o t b e e n s u c h a s t o m a k e i t d e s i r a b l e t o
a s k t h e s e g e n t l e m e n a f a v o r o n b e h a l f o f t h e Pr u s s i a n
G o v e r n m e n t
. "
Th i s r i f t i n t h e l u t e w a s a m a t t e r o f s o m e c o n c e r n
t o t h e Pr u s s i a n d e l e g a t e , s i n c e , i t b e i n g h i s c o n s t a n t a i m
t o r e s t r i c t t h e ' s p h e r e
o f
Au s t r i a ' s i n f l u e n c e , h e h a d i n -
t e n d e d t o m a k e u s e o f t h e Ro t h s c h i l d s i n c o n n e c t i o n w i t h
a s c h e m e t h a t h e h a d p l a n n e d , t h e o b j e c t o f w h i c h w a s
t o c h e c k t h e c i r c u l a t i o n o f Au s t r i a n s e c u r i t i e s i n t h e
S o u t h o f G e r m a n y
. In t h e S o u t h , a n d p a r t i c u l a r l y i n
F r a n k f o r t , m a n y p e r s o n s h e l d Au s t r i a n i n v e s t m e n t s ; a n d
t h e y w e r e l e d t o p l a c e t h e i r p o l i t i c a l s u p p o r t w h e r e t h e i r
f i n a n c i a l i n t e r e s t l a y
. B i s m a r c k m e a n t t o c o u n t e r t h i s b y
f a c i l i t a t i n g d e a l i n g s i n Pr u s s i a n s e c u r i t i e s i n e v e r y w a y
p o s s i b l e
. W h e n M e y e r Ca r l a s k e d h i m t o h a v e t h e i n t e r -
e s t o n a l l Pr u s s i a n s t a t e b o n d s p a i d t h r o u g h h i m , a n a r -
r a n g e m e n t w h i c h w o u l d s u b s t a n t i a l l y f a c i l i t a t e d e a l i n g
w i t h t h e s e s e c u r i t i e s i n S o u t h G e r m a n y , B i s m a r c k i m m e -
3 1 4

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
d i a t e l y a g r e e d . He r e p o r t e d a c c o r d i n g l y t o M a n t e u f f e l ,
a d d i n g t h a t Ro t h s c h i l d h a d o f f e r e d v e r y f a v o r a b l e t e r m s
" s i n c e h e l o o k s a t t h e a r r a n g e m e n t f r o m t h e p o i n t o f v i e w
t h a t i t i n c r e a s e s h i s b u s i n e s s . "
" If , t h e r e f o r e , " B i s m a r c k w r o t e , " " h i g h e r q u a r t e r s
s h o u l d b e d i s p o s e d t o a c c e d e t o t h e r e q u e s t w h i c h Ro t h s -
c h i l d h a s s o f r e q u e n t l y m a d e t o m e , Ib e l i e v e t h a t t h e
g r e a t e r c o n v e n i e n c e a n d s e c u r i t y a g a i n s t l o s s t h e r e b y o f -
f e r e d w o u l d b e a n i n d u c e m e n t t o J e w i s h i n v e s t o r s t o
i n c r e a s e t h e i r h o l d i n g s o f s u c h s e c u r i t i e s . "
Th i s p r o p o s a l , h o w e v e r , a g a i n m e t w i t h s t r o n g o p p o s i -
t i o n o n t h e p a r t o f t h e Ro t h s c h i l d s ' b i t t e r e n e m y , t h e
f i n a n c e m i n i s t e r , B o d e l s c h w i n g h . He p o i n t e d o u t t h a t t h e
Ro t h s c h i l d s h a d a l r e a d y b e e n e n t r u s t e d w i t h t h e i n t e r e s t
p a y m e n t o n t h e l o a n o f 1 8 5 0 a n d 1 8 5 2 , a s w e l l a s o n t h e
p r e m i u m l o a n o f 1 8 5 5 . " Ha d t h i s f i r m , " h e c o n t i n u e d ,
" t a k e n a p r o p e r s h a r e i n t h e l o a n o f 1 8 5 4 , w h i c h w a s c o n -
c l u d e d i n e x c e p t i o n a l l y d i f f i c u l t c i r c u m s t a n c e s , t h e s a m e
a r r a n g e m e n t m i g h t h a v e b e e n m a d e .
" Th a t i t w o u l d b e e x c e e d i n g l y a g r e e a b l e t o t h e Ho u s e
o f Ro t h s c h i l d t o b e g r a n t e d t h e s a m e a d v a n t a g e s w i t h
r e g a r d t o t h e 4 Y 2 ' 7 0 l o a n s o f 1 8 5 4 , 1 8 5 5 , a n d 1 8 5 6 , a l -
t h o u g h i t h a d n o t h i n g t o d o w i t h t h e i r i s s u e , i s r e a d i l y
i n t e l l i g i b l e . S u c h a c t i o n , h o w e v e r , w o u l d n o t b e i n a c -
c o r d a n c e w i t h t h e i n t e r e s t s o f t h e Tr e a s u r y . " M a n t e u f f e l
h e l d t h a t B o d e l s c h w i n g h h a d b e e n l a r g e l y r e s p o n s i b l e f o r
t h e f a c t t h a t Ro t h s c h i l d h a d n o t t a k e n p a r t i n t h e l o a n o f
1 8 5 4 , b u t f o r t h e t i m e b e i n g B i s m a r c k ' s p r o p o s a l w a s
n o t a c c e p t e d . Th e Ro t h s c h i l d s , h o w e v e r , p e r s i s t e d i n t h e i r
r e q u e s t , a n d B i s m a r c k w a s n o t t h e m a n e a s i l y t o a c c e p t
a
r e f u s a l .
M e y e r Ca r l a d d r e s s e d t w o u r g e n t l e t t e r s t o B i s m a r c k
a t a s h o r t i n t e r v a l , 8 7 r e m i n d i n g B i s m a r c k t h a t h e d e s i r e d
a l l t h e Pr u s s i a n 4 / % l o a n s , i n c l u d i n g t h a t o f 1 8 5 6 , t o b e
" d o m i c i l e d " w i t h h i s b a n k .
" Y o u r Ex c e l l e n c y i s a w a r e , " h e w r o t e , " t h a t m y Ho u s e ,
w h i c h h a s b e e n d e v o t i n g i t s e l f a s a l w a y s w i t h t h e g r e a t -
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 1 5
e s t z e a l t o s t r e n g t h e n i n g a n d e x t e n d i n g t h e f i n a n c i a l
c r e d i t o f t h e S t a t e o f Pr u s s i a , h a s s u c c e e d e d n o t o n l y i n
o b t a i n i n g a m a r k e t h e r e f o r t h e m o s t r e c e n t l o a n i s s u e d
b y t h e B a n k o f Pr u s s i a b u t a l s o i n o b t a i n i n g s u c h a n
e x t e n s i v e m a r k e t f o r t h i s l o a n t h r o u g h o u t t h e w h o l e o f
S o u t h e r n G e r m a n y , t h a t s e c u r i t i e s t o t h e a m o u n t o f
7 , 0 0 0 , 0 0 0 h a v e a l r e a d y b e e n s o l d . "
Th e r e u p o n B i s m a r c k w r o t e a l e t t e r t o M a n t e u f f e l , S B
s t r o n g l y u r g i n g t h a t t h e Ro t h s c h i l d s ' w i s h e s s h o u l d b e
c a r r i e d i n t o e f f e c t .
" Id o n o t k n o w , " h e w r o t e , " t h e r e a s o n s w h i c h p r e -
v e n t e d t h e Ho u s e o f Ro t h s c h i l d f r o m t a k i n g a p r o p e r
s h a r e i n t h e l o a n c o n c l u d e d i n 1 8 5 4 u n d e r d i f f i c u l t c o n -
d i t i o n s . In r a i s i n g t h i s m a t t e r , Id i d n o t p r o c e e d f r o m t h e
a s s u m p t i o n t h a t t h e r e w a s a n y q u e s t i o n o f p u n i s h i n g o r
r e w a r d i n g a b a n k f o r i t s b u s i n e s s m e t h o d s ; m y s o l e a i m
w a s t o d i s c o v e r a n a r r a n g e m e n t w h i c h w o u l d f a v o r a
l a r g e r s a l e o f Pr u s s i a n s e c u r i t i e s a b r o a d , a n d w o u l d a t -
t r a c t f o r e i g n c a p i t a l f o r o u r n e e d s . Th a t s u c h a n a r r a n g e -
m e n t a s h a s b e e n s u g g e s t e d , w o u l d a s s i s t i n a c h i e v i n g
t h i s e n d , a p p e a r s n o t t o b e d i s p u t e d b y t h e F i n a n c e M i n -
i s t e r , o n l y h e d o e s n o t r e g a r d t h e a d v a n t a g e s a s s o c o n -
s i d e r a b l e a s h a s b e e n s t a t e d . Id o n o t g a t h e r f r o m t h e
a r g u m e n t s a d v a n c e d b y t h e F i n a n c e M i n i s t e r t h a t h e
f e a r s t h a t w e s h o u l d s u f f e r a n y d i s a d v a n t a g e f r o m s u c h
a n a r r a n g e m e n t , e s p e c i a l l y a s t h e Ho u s e o f Ro t h s c h i l d
i s p r e p a r e d t o f o r e g o e v e n t h e s m a l l a m o u n t w h i c h i t h a d
a s k e d t o c o v e r e x p e n s e s
. W e m a y o f c o u r s e , a s s u m e t h a t
t h e b a n k h a s i t s o w n r e a s o n s f o r m a k i n g s u c h a p r o p o s a l ,
f o r i t i s n o t g o i n g t o u n d e r t a k e a l l t h e w o r k i n v o l v e d o u t
o f d e v o t i o n t o Pr u s s i a . Th e f a c t , h o w e v e r , t h a t i t s a d v a n -
t a g e i s i d e n t i c a l w i t h o u r s , d o e s n o t s e e m t o m e t o f u r -
n i s h a n y r e a s o n w h y w e s h o u l d i g n o r e o u r s . "
B i s m a r c k f u r t h e r d e v e l o p e d h i s a r g u m e n t a g a i n s t
B o d e l s c h w i n g h a n d c o n c l u d e d ` b y s u g g e s t i n g w i t h a l l
d e f e r e n c e t h a t t h e m a t t e r s h o u l d b e d i s c u s s e d o n c e m o r e
w i t h t h e f i n a n c e m i n i s t e r
. Th i s w a s d o n e , b u t w i t h o u t p r o -
3 1 6

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
d u c i n g t h e d e s i r e d r e s u l t . B o d e l s c h w i n g h h e l d t h a t t h e r e
w a s n o r e a s o n f o r f u r t h e r c o n s i d e r i n g t h e Ro t h s c h i l d
p r o p o s a l s . " In d e e d , i n a l e t t e r t o M a n t e u f f e l h e m a d e a
c o u n t e r - a t t a c k u p o n B i s m a r c k , a n d e n d e a v o r e d t o s h o w
t h a t t h e l a t t e r h a d " f a i l e d c l e a r l y t o g r a s p t h e p r o p o s a l
. "
9 0
O n s t i l l f a i l i n g t o o b t a i n a f a v o r a b l e d e c i s i o n , M e y e r
Ca r l a p p l i e d d i r e c t t o M a n t e u f f e l ; h e s a i d t h a t h e w o u l d
a c c e p t a n y i n d e m n i f i c a t i o n f o r t h e w o r k i n v o l v e d t h a t
m i g h t b e c o n s i d e r e d r e a s o n a b l e , a s h e w a s s o l e l y c o n -
c e r n e d " t o d e m o n s t r a t e a g a i n t h e s i n c e r e d e v o t i o n o f h i s
Ho u s e , a n d t h e i r d e s i r e t o s e r v e t h e i n t e r e s t s o f Pr u s s i a ' s
f i n a n c e s
. "
Th e m a t t e r w a s n o t d e c i d e d u n t i l B o d e l s c h w i n g h r e -
s i g n e d a n d a n e w f i n a n c e m i n i s t e r , v o n Pa t o w , w a s a p -
p o i n t e d . Al t h o u g h B i s m a r c k h a d l e f t F r a n k f o r t b y t h e n ,
h e u r g e d t h e n e w f i n a n c e m i n i s t e r t o a c c e d e t o t h e Ro t h s -
c h i l d s ' r e q u e s t , b u t t h i s w a s n o t d o n e
9 1 u n t i l B i s m a r c k ' s
s u c c e s s o r , He r r v o n U s e d o m , h a d a l s o s u p p o r t e d t h e p r o -
p o s a l ,
9 2
a n d Ro t h s c h i l d h a d a p p e a l e d t o t h e p r e s i d e n t ,
v o n Ca m p h a u s e n , p o i n t i n g o u t t h a t h e h a d r e c e n t l y s o l d
Pr u s s i a n s e c u r i t i e s t o i n v e s t o r s t o t h e v a l u e o f s e v e r a l
m i l l i o n s a n d h a d " t h u s a s s i s t e d i n c o n s o l i d a t i n g t h e f i n a n -
c i a l i n t e r e s t s w i t h t h o s e o f S o u t h G e r m a n y
. "
Th i s m a t t e r , t o o , h a d c l e a r l y r e v e a l e d t h e e x c e l l e n t
u n d e r s t a n d i n g t h a t h a d s u b s i s t e d b e t w e e n B i s m a r c k a n d
t h e Ro t h s c h i l d s d u r i n g t h e l a t e r y e a r s o f h i s s t a y a t F r a n k -
f o r t
. N e i t h e r d i d t h e i r p l e a s a n t r e l a t i o n s s u f f e r t h r o u g h
t h e f o l l o w i n g t r a g i - c o m i c i n c i d e n t , w h i c h o r i g i n a t e d i n
B e r l i n a n d w a s e x c e e d i n g l y p a i n f u l t o t h e Ho u s e o f
Ro t h s c h i l d , b u t f o r w h i c h B i s m a r c k , a s t h e y w e l l k n e w ,
w a s i n n o w a y r e s p o n s i b l e .
B i s m a r c k ' s s u g g e s t i o n t h a t B a r o n M e y e r Ca r l v o n
Ro t h s c h i l d , w h o l i v e d a t F r a n k f o r t , a n d w a s t h e e l d e s t
s o n o f Ca r l M e y e r Ro t h s c h i l d o f N a p l e s , s h o u l d b e g i v e n
t h e O r d e r o f t h e Re d Ea g l e a s w e l l a s t h e t i t l e o f Co u r t
B a n k e r , w a s a c c e p t e d , b u t a s p e c i a l o r d e r o f t h e Re d
Ea g l e w a s d e s i g n e d f o r n o n - Ch r i s t i a n s , b e i n g o f a n o v a l
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 1 7
s h a p e i n s t e a d o f i n t h e s h a p e o f a c r o s s . At t h e b e g i n n i n g
o f J u l y , 1 8 5 3 , B i s m a r c k
h a n d e d M e y e r Ca r l t h i s o r d e r ,
w h i c h h e c o n s i d e r e d t o
- b e v e r y t a s t e f u l l y d e s i g n e d
. "
Ro t h s c h i l d a p p e a r e d g r a t e f u l , b u t h e a c c e p t e d t h e d e c o -
r a t i o n w i t h m i x e d f e e l i n g s s i n c e , a s h e a l r e a d y h e l d ,
a m o n g o t h e r s , t h e O r d e r o f t h e Re d e e m e r o f G r e e c e , h e
w o u l d c l e a r l y h a v e f e l t h i m s e l f m o r e a t h o m e a m o n g t h e
c r o s s - w e a r e r s . Th e Ho u s e o f Ro t h s c h i l d d i d , i n f a c t , r e -
g a r d t h e o v a l a s a s l i g h t r a t h e r t h a n a s a d i s t i n c t i o n , a n d
t h i s d e c o r a t i o n w a s a c o n s t a n t s o u r c e o f i r r i t a t i o n t o
M e y e r Ca r l Ro t h s c h i l d
. He f e l t i t a l l t h e m o r e k e e n l y
w h e n , o n Au g u s t
1 4 , 1 8 5 7 , j u s t a f t e r Pr i n c e W i l l i a m o f
Pr u s s i a h a d t a k e n o v e r t h e g o v e r n m e n t f r o m K i n g F r e d -
e r i c k W i l l i a m IV, w h o w a s i l l , h e r e c e i v e d t h e O r d e r o f
t h e Re d Ea g l e o f t h e S e c o n d Cl a s s , a l s o i n t h e f o r m
d e s i g n e d f o r n o n - Ch r i s t i a n s .
M e y e r Ca r l a s f a r a s p o s s i b l e a v o i d e d w e a r i n g t h e
O r d e r , a s h e f e l t t h a t i t m a r k e d h i m o u t i n a n u n p l e a s a n t
w a y , b u t p e r s o n s w h o w e r e i l l d i s p o s e d t o t h e Ro t h s c h i l d s
w h i s p e r e d t o t h e n e w r e g e n t t h a t Ro t h s c h i l d w o r e t h e
O r d e r o f t h e Re d Ea g l e i n t h e f o r m o f a c r o s s . O n e d a y ,
t o h i s s u r p r i s e , B i s m a r c k r e c e i v e d t h e f o l l o w i n g c o m m u -
n i c a t i o n f r o m M a n t e u f f e l
: " " It h a s b e e n b r o u g h t t o t h e
n o t i c e o f h i s Ro y a l Hi g h n e s s , t h e Pr i n c e o f Pr u s s i a , t h a t
t h e Co u r t B a n k e r , B a r o n v o n Ro t h s c h i l d a t F r a n k f o r t o n
M a i n , u p o n w h o m t h e O r d e r o f t h e Re d Ea g l e o f t h e
S e c o n d Cl a s s w a s c o n f e r r e d b y r o y a l d e c r e e o n Au g u s t i i ,
i n t h e f o r m a p p o i n t e d f o r n o n - Ch r i s t i a n s , i s w e a r i n g t h e
O r d e r i n t h e f o r m o f a c r o s s , a n d Ih a v e b e e n i n s t r u c t e d
t o i n q u i r e i n t o t h i s m a t t e r . "
Th e p r i m e m i n i s t e r r e q u e s t e d B i s m a r c k t o s t a t e i n c o n -
f i d e n c e w h e t h e r t h e p r i n c e h a d b e e n c o r r e c t l y i n f o r m e d .
B i s m a r c k h a s t e n e d t o s e n d t h e f o l l o w i n g r e p l y :
In a c c o r d a n c e w i t h t h e Ro y a l Co m m a n d o f t h e
2 7 t h i n s t a n t , Ih a v e t h e h o n o r d u t i f u l l y t o i n f o r m
y o u r Ex c e l l e n c y , t h a t Ih a v e n o t s e e n t h e Co u r t
3 1 8

Th e Re i g n o f
t h e Ho u s e o f Ro t h s c h i l d
B a n k e r , Ca r l M e y e r v o n Ro t h s c h i l d ( w h o s h o u l d
p r o p e r l y b e c a l l e d M e y e r Ca r l ) w e a r i n g s u c h a d e c -
o r a t i o n , s i n c e h e d o e s n o t g o t o b i g f u n c t i o n s , a n d
w h e n h e d o e s w e a r O r d e r s , p r e f e r s t o w e a r t h e G r e e k
O r d e r o f t h e Re d e e m e r , o r t h e S p a n i s h O r d e r o f
Is a b e l l a t h e Ca t h o l i c . O n t h e o c c a s i o n o f t h e o f f i c i a l
r e c e p t i o n w h i c h Im y s e l f g a v e o n t h e 2 5 t h u l t i m o ,
t o c e l e b r a t e t h e m a r r i a g e o f H . R. H . Pr i n c e F r e d -
e r i c k W i l l i a m , w h i c h h e w o u l d h a v e h a d t o a t t e n d
i n u n i f o r m , h e e x c u s e d h i m s e l f o n t h e g r o u n d o f i l l -
h e a l t h , i t b e i n g p a i n f u l t o h i m t o w e a r t h e Re d Ea g l e
d e c o r a t i o n f o r n o n - Ch r i s t i a n s , a s h e w o u l d h a v e h a d
t o d o o n t h a t o c c a s i o n . Id r a w a s i m i l a r i n f e r e n c e
f r o m t h e f a c t t h a t w h e n e v e r h e c o m e s t o d i n e w i t h
m e , h e m e r e l y w e a r s t h e Ri b b o n o f t h e O r d e r o f t h e
Re d Ea g l e i n h i s b u t t o n h o l e . Ih a v e n e v e r h e a r d t h a t
He r r v o n Ro t h s c h i l d
. . .
h a s w o r n t h e d e c o r a t i o n
a p p o i n t e d f o r Ch r i s t i a n s , a l t h o u g h t h e F r a n k f o r t e r s
l o v e m a k i n g t h e m o s t o f s u c h i n c i d e n t s , a n d i n v i e w
o f t h e k e e n r i v a l r y b e t w e e n t h e v a r i o u s f i n a n c i a l
p o w e r s , t h e Ch r i s t i a n b a n k e r s h a v e d e r i v e d n o s m a l l
s a t i s f a c t i o n f r o m t h e f a c t t h a t He r r v o n Ro t h s c h i l d
m a y n o t w e a r t h e r e g u l a r d e c o r a t i o n .
Is h a l l n o t f a i l t o g i v e t h i s m a t t e r m y m o s t c a r e f u l
a t t e n t i o n a n d s h a l l r e p o r t f u r t h e r i f Is h o u l d l e a r n
o f a n y f a c t s o f t h e n a t u r e i n d i c a t e d i n t h e Ro y a l
Co m m a n d o f t h e 2 5 t h u l t i m o . "
Th i s r e p o r t d i s p o s e d o f t h e m a t t e r a n d n o t h i n g m o r e
w a s h e a r d a b o u t i t .
In l a t e r y e a r s B i s m a r c k o n c e t o l d
9 s
o f t h e o n l y s p e c u -
l a t i o n t h a t h e h a d e v e r e n g a g e d i n , a s t h e r e s u l t o f i n -
f o r m a t i o n w h i c h h e o w e d t o h i s d i p l o m a t i c p o s i t i o n
.
Pr u s s i a m e a n t i f n e c e s s a r y t o u s e f o r c e t o e n d t h e e v e r -
l a s t i n g d i s p u t e a s t o w h a t c o u n t r y t h e c a n t o n o f N e u c h a t e l
s h o u l d b e l o n g
. Th i s m i g h t h a v e m e a n t w a r w i t h S w i t z e r -
l a n d , w h i c h , h o w e v e r , w o u l d h a v e b e e n p o s s i b l e o n l y i f
t h e Em p e r o r N a p o l e o n , w h o m Pr u s s i a w o u l d h a v e h a d
o n h e r f l a n k , h a d r a i s e d n o o b s t a c l e t o h e r a c t i o n . B i s -
L o u i s N a p o l e o n , Ca v o u r , a n d B i s m a r c k

3 1 9
m a r c k w a s s e n t t o Pa r i s i n o r d e r t o a s k t h e e m p e r o r p e r -
s o n a l l y w h a t h i s a t t i t u d e w a s i n t h e m a t t e r . He k n e w
t h a t N a p o l e o n w o u l d m a k e n o o b j e c t i o n a n d t h a t i t w a s
t h e r e f o r e h i g h l y p r o b a b l e t h a t Pr u s s i a w o u l d g o t o w a r
w i t h S w i t z e r l a n d
. B i s m a r c k w i s h e d a c c o r d i n g l y t o d i s -
p o s e o f s e c u r i t i e s w h i c h w o u l d h a v e b e e n a d v e r s e l y a f -
f e c t e d , a n d w e n t t o s e e Ro t h s c h i l d f o r t h i s p u r p o s e
. Ro t h s -
c h i l d a d v i s e d a g a i n s t s e l l i n g , a s t h e s e c u r i t i e s i n q u e s t i o n
h a d g o o d p r o s p e c t s
. " Y e s , " r e p l i e d B i s m a r c k , " b u t i f y o u
k n e w t h e o b j e c t o f m y j o u r n e y y o u w o u l d t h i n k o t h e r -
w i s e . "
Ro t h s c h i l d r e p l i e d t h a t t h a t m i g h t b e s o b u t h e c o u l d
n o t a d v i s e h i m t o s e l l
. B i s m a r c k , h o w e v e r , g o t r i d o f h i s
s e c u r i t i e s a n d l e f t f o r Pa r i s
. L o u i s N a p o l e o n w a s v e r y
a m e n a b l e a n d w o u l d n o t h a v e b e e n l i k e l y t o c r e a t e a n y
d i f f i c u l t i e s a b o u t t h e a c t i o n a g a i n s t N e u c h a t e l
.
M e a n w h i l e , w i t h o u t t e l l i n g B i s m a r c k a n y t h i n g a b o u t
i t , t h e K i n g o f Pr u s s i a h a d c h a n g e d h i s m i n d , a n d d e c i d e d
t o h a v e n o t h i n g m o r e t o d o w i t h t h e m a t t e r
. Th e w a r
w h i c h h a d b e e n e x p e c t e d , t h e r e f o r e d i d n o t o c c u r , a n d
t h e s e c u r i t i e s i n q u e s t i o n c o n t i n u e d t o r i s e i n v a l u e
.
Ro t h s c h i l d w a s p r o v e d r i g h t , a n d t h e g r e a t s t a t e s m a n l o s t
a c o n s i d e r a b l e a m o u n t o f m o n e y t h r o u g h t h e p r e m a t u r e
s a l e .
B i s m a r c k w a s i n F r a n k f o r t w h e n o l d Am s c h e l M e y e r
s o d e l i g h t f u l l y d e s c r i b e d b y h i m d i e d
; h e c o n t i n u e d t o b e
o n t h e b e s t o f t e r m s w i t h a l l t h e m e m b e r s o f t h e Ho u s e
l i v i n g t h e r e
. W h e n , i n 1 8 5 9 , h e l e f t F r a n k f o r t t o t a k e
u p h i s n e w p o s t a t S t
. Pe t e r s b u r g , t h e Ro t h s c h i l d s h o p e d
t h a t t h e y h a d e s t a b l i s h e d t h e m s e l v e s i n t h e f a v o r o f t h e
m a n w h o , t h e i r i n s t i n c t m a y
w e l l h a v e t o l d t h e m , w a s
d e s t i n e d t o g r e a t t h i n g s
.
CHAPTERVIII
F r o m t h e Cr i m e a n W a r t o t h e It a l i a n W a r o f 1 8 5 9
A
F TERb e i n g d i r e c t e d f o r s e v e r a l y e a r s b y t e m p o r a r y
m a n a g e r s , t h e Vi e n n a Ho u s e o f Ro t h s c h i l d a c -
q u i r e d i n S o l o m o n ' s s o n , An s e l m , a c h i e f w h o e n d e a v -
o r e d t o r e s t o r e t h e p r e s t i g e o f t h e Ho u s e o f Ro t h s c h i l d
i n t h e i m p e r i a l d o m i n i o n s , a f t e r i t h a d b e e n a l m o s t d e -
s t r o y e d b y t h e r e v o l u t i o n a n d M e t t e r n i c h ' s f l i g h t . Th u s
i n Vi e n n a a s i n L o n d o n , t h e t h i r d g e n e r a t i o n s i n c e t h e
f o u n d a t i o n o f t h e b a n k h a d c o m e i n t o p o w e r
. J u s t a s
N a t h a n ' s s o n s , a l t h o u g h t h e y d i d n o t i n h e r i t h i s f i n a n c i a l
g e n i u s t o t h e f u l l , w e r e d i s t i n g u i s h e d f r o m t h e i r f a t h e r
b y a r e m a r k a b l y g o o d e d u c a t i o n , s o An s e l m Ro t h s c h i l d
a l s o w a s a h i g h l y c u l t u r e d m a n w h o , u n l i k e h i s f a t h e r ,
h a d m a s t e r e d t h e G e r m a n l a n g u a g e , a n d a l s o s p o k e
F r e n c h a n d En g l i s h v e r y w e l l
. He w a s n a t u r a l l y m o d e s t
a n d q u i e t ; a n d h i s s t u d i e s i n B e r l i n , h i s a c t i v i t i e s i n t h e
Pa r i s Ho u s e , a n d h i s e x t e n s i v e j o u r n e y s t h r o u g h o u t t h e
w o r l d h a d d e v e l o p e d h i s p e r s o n a l i t y a n d s o c i a l p o i s e
.
In Vi e n n a , h o w e v e r , h e w a s a n a b s o l u t e s t r a n g e r , s i n c e ,
e v e n a f t e r h e h a d c o m p l e t e d h i s s t u d i e s , h e h a d b e e n
l i v i n g a t F r a n k f o r t , a n d h i s d u t i e s a s Au s t r i a n c o n s u l -
g e n e r a l i n t h a t c i t y w e r e n o t a n e s s e n t i a l p a r t o f h i s
a c t i v i t i e s .
It w o u l d m e a n h a r d w o r k t o r e s t o r e h i s Ho u s e t o
i t s f i r m p o s i t i o n u n d e r t h e n e w a n d e n t i r e l y a l t e r e d c o n -
d i t i o n s . Hi s t a s k w a s m a d e s o m e w h a t e a s i e r b y t h e
f a c t t h a t M e t t e r n i c h r e t u r n e d a t t h e e n d o f t h e y e a r
1 8 5 1 , a n d t h a t K i i b e c k o f t h e f i n a n c e m i n i s t r y , a n o l d
a c q u a i n t a n c e o f t h e f a m i l y , s t i l l p o s s e s s e d g r e a t i n f l u e n c e
.
M e t t e r n i c h ' s r e t u r n w a s a c l e a r i n d i c a t i o n o f t h e c h a n g e
3 2 0
F r o m t h e Cr i m e a n ' W a r t o t h e It a l i a n W a r
3 2 1
i n t h e i n t e r n a l p o l i t i c a l s i t u a t i o n
. Af t e r t h e s t o r m y y e a r s
i n w h i c h t h e p e n d u l u m h a d s w u n g s o f a r t o t h e l e f t , t h e
f o r c e s o f r e a c t i o n w e r e a g a i n a s s e r t i n g t h e m s e l v e s . S i n g l e
i n d i v i d u a l s w e r e a g a i n a s s u m i n g c o n t r o l i n t h e s t a t e ,
a n d f i n a n c i e r s w e r e b e g i n n i n g t o f e e l t h a t c o n d i t i o n s w e r e
a g a i n b e g i n n i n g t o o b t a i n u n d e r w h i c h t h e y c o u l d r e g a i n
t h e i r p o l i t i c a l i n f l u e n c e
. An s e l m a v a i l e d h i m s e l f o f e v e r y
o p p o r t u n i t y o f d r a w i n g a t t e n t i o n t o h i m s e l f b y m u n i f i -
c e n t g i f t s
. Th e r e t u r n o f t h e Em p e r o r F r a n c i s J o s e p h
f r o m a l e n g t h y j o u r n e y t h r o u g h h i s n o r t h e r n s t a t e s , f u r -
n i s h e d a w e l c o m e o p p o r t u n i t y f o r s u c h e x p e n d i t u r e
.
" Af t e r a l o n g a b s e n c e , " An s e l m w r o t e t o t h e m i n i s t e r
o f t h e i n t e r i o r , " a n d h a v i n g a c c o m p l i s h e d a j o u r n e y f u l l
o f b e n e f i t t o t h e m o n a r c h y , t h e h o n o r e d f a t h e r o f o u r
c o u n t r y i s r e t u r n i n g t o h i s c a p i t a l
. Al l h e a r t s g o o u t t o
m e e t h i m , a n d Vi e n n a c e l e b r a t e s a d a y o f f e s t i v i t y
. F r o m
p a l a c e a n d c o t t a g e s h o u t s o f w e l c o m e e c h o t o g r e e t o u r
b e l o v e d s o v e r e i g n
. S h a r i n g p r o f o u n d l y a s Id o i n t h i s
u n i v e r s a l r e j o i c i n g , Iw o u l d l i k e , m y d e a r M i n i s t e r , a s
s o m e s a t i s f a c t i o n t o m y f e e l i n g s , t o m a k e a s m a l l c o n t r i -
b u t i o n t o t h e r e l i e f o f t h e s u f f e r i n g s o f t h e n e e d y i n
Vi e n n a a n d Iv e n t u r e h u m b l y t o t r a n s m i t t o y o u r Ex c e l -
l e n c y t h e e n c l o s e d s , o o o f l o r i n s
C. C. , w i t h t h e h u m b l e
r e q u e s t t h a t y o u w i l l g r a c i o u s l y m a k e s u c h u s e o f t h i s
s u m a s m a y s e e m b e s t t o y o u
. "
Al l t h e p a p e r s c o m m e n t e d o n An s e l m ' s g i f t , a n d h e
r e c e i v e d a n o f f i c i a l l e t t e r o f t h a n k s
. Th e y o u n g e m p e r o r ,
h o w e v e r , r e m a i n e d v e r y u n a p p r o a c h a b l e , a n d n o n e o f
t h e n e w m i n i s t e r s w e r e a s d i s p o s e d a s M e t t e r n i c h a n d
K o l o w r a t t o a l l o w An s e l m t o h a v e p o l i t i c a l i n f l u e n c e
;
a n d e v e n i f t h e y h a d b e e n , i t w o u l d n o t h a v e h a d t h e s a m e
e f f e c t , f o r n o n e o f t h e m , n o t e v e n S c h w a r z e n b e r g , w h o
d i e d a l l t o o s o o n , h a d a n y t h i n g l i k e a s m u c h p o w e r a s
M e t t e r n i c h .
Au s t r i a ' s f i n a n c e s w e r e c e r t a i n l y i n a v e r y b a d w a y ,
a n d i t w a s t h r o u g h t h i s f a c t t h a t t h e Ro t h s c h i l d s w e r e
t o r e c o v e r t h e i r i n f l u e n c e i n Au s t r i a
. At t h e b e g i n n i n g
3 2 2

Th e Re i g n o f t h e Ho u s e o f Ro t h s c h i l d
o f t h e y e a r 1 8 5 2 , v o n B a u m g a r t n e r , a f o r m e r p r o f e s s o r
o f p h y s i c s , h a d b e e n a p p o i n t e d f i n a n c e m i n i s t e r , a n d h e
w a s n o t e q u a l t o c a r r y i n g o u t t h e d u t i e s o f h i s p o s i t i o n .
An s e l m s u c c e e d e d i n g e t t i n g a l o a n f l o a t e d f o r h i m i n
L o n d o n i n M a y , 1 8 5 2 , a c o n s i d e r a b l e p o r t i o n b e i n g u n -
d e r w r i t t e n b y t h e F r a n k f o r t Ho u s e a s w e l l , b u t t h i s d i d
n o t h e l p m u c h , a n d t h e a c c o u n t s f o r t h e y e a r 1 8 5 3 s t i l l
s h o w e d a d e f i c i t , a l t h o u g h e x t e r n a l l y e v e r y t h i n g r e -
m a i n e d q u i e t .
M o r e o v e r , t h e g o v e r n m e n t a n d i t s d e p a r t m e n t s w e r e
b y n o m e a n s w e l l d i s p o s e d t o t h e J e w s i n Au s t r i a , a l -
t h o u g h t h e y o c c u p i e d m o s t o f t h e p r i n c i p a l p l a c e s i n
b a n k i n g a n d f i n a n c e , a n d w e r e a b l e , t h r o u g h t h e i r i n t e r -
n a t i o n a l c o n n e c t i o n s , f a v o r a b l y o r u n f a v o r a b l y t o a f f e c t
t h e s t a t e ' s c r e d i t .
Th e v e t o o n t h e p u r c h a s e o f r e a l e s t a