- Rothschild family
European banking dynasty.It was founded by Mayer Amschel Rothschild (1744–1812), who started out in a Frankfurt banking house. The family name derived from the red shield (rote Schild) on the house in the Jewish ghetto where Mayer's ancestors lived. The financial transactions of the Napoleonic Wars of 1792–1815 were the foundation of the Rothschild fortune. Mayer and his oldest son, Amschel (1773–1855), supervised the growing business from Frankfurt, while his other sons established offices elsewhere: Nathan (1777–1836) established a branch in London in 1804, James (or Jakob, 1792–1868) settled in Paris in 1811, and Salomon (1774–1855) and Karl (1788–1855) opened offices in Vienna and Naples, respectively, in the 1820s. The Rothschild business later focused on government securities and industrial companies, including railway, coal, ironworking, oil, and metallurgical investments. Their powerful position was eventually threatened by the new commercial banks, and by the late 19th century the Rothschild group was no longer the first banking consortium. The Rothschilds received many honours: Mayer's five sons were made barons of the Austrian Empire, a Rothschild was the first Jew to enter the British Parliament, and another was the first to be elevated to the British peerage. Members of the British and French familiesthe only ones still engaged in banking after the seizure of the Austrian house by the Nazisdistinguished themselves as scientists and philanthropists. Baron Philippe de Rothschild (1902–88) became a premier winemaker of the vineyard Mouton-Rothschild.
* * *▪ European familyIntroductionthe most famous of all European banking dynasties, which for some 200 years exerted great influence on the economic and, indirectly, the political history of Europe. The house was founded by Mayer Amschel Rothschild (b. Feb. 23, 1744, Frankfurt am Main—d. Sept. 19, 1812, Frankfurt) and his five sons, Amschel Mayer (b. June 12, 1773, Frankfurt—d. Dec. 6, 1855, Frankfurt), Salomon Mayer (b. Sept. 9, 1774—d. July 27, 1855, Vienna), Nathan Mayer (b. Sept. 16, 1777—d. July 28, 1836, Frankfurt), Karl Mayer (b. April 24, 1788—d. March 10, 1855, Naples), and Jakob, or James (b. May 15, 1792—d. Nov. 15, 1868, Paris). Starting out in a Frankfurt banking house, Mayer and his sons became international bankers, establishing branches in London, Paris, Vienna, and Naples by the 1820s.Mayer Amschel RothschildThe founder of the house was Mayer Amschel. The family's name derived from the red (rot) shield on the house in the ghetto in which Mayer's ancestors had once lived. Intended for the rabbinate, Mayer studied briefly, but his parents' early death forced him into an apprenticeship in a banking house. Soon after becoming court factor to William IX, landgrave of Hesse-Kassel, Mayer set the pattern that his family was to follow so successfully—to do business with reigning houses by preference and to father as many sons as possible who could take care of the family's many business affairs abroad.Mayer's five sonsStarting as dealers in luxury items and traders in coins and commercial papers, Mayer and his sons eventually became bankers to whom the French Revolutionary (French Revolution) and Napoleonic Wars of 1792–1815 came as a piece of great good fortune. Mayer and his oldest son, Amschel Mayer, supervised the growing business from Frankfurt, while Nathan Mayer established a branch in London in 1804, James (or Jakob) settled in Paris in 1811, and Salomon Mayer and Karl Mayer opened offices in Vienna and Naples, respectively, in the 1820s. The wars, for the Rothschilds, meant loans to warring princes; smuggling as well as legal trading in key products such as wheat, cotton, colonial produce, and arms; and the transfer of international payments between the British Isles (United Kingdom) and the Continent that Napoleon vainly attempted to close to British trade. Peace transformed the growing Rothschild business: the banking group continued its international business dealings but became more and more an agent in government securities (Prussian or English, French or Neapolitan), in insurance-company stocks, and in shares of industrial companies. Thus, the family successfully adapted to the Industrial Revolution and participated in economic growth throughout Europe with their railway, coal, ironworking, and metallurgical investments. The banking group continued to expand after the 1850s and, in particular, achieved an important position in the world trade of oil and nonferrous metals. But its previous “oligopolistic” position was seriously threatened by new joint-stock banks and “commercial,” or deposit, banks both in England and in France, as well as in the German states. By the last quarter of the 19th century, the Rothschild group was no longer the first banking consortium. Other groups, in Europe and in the United States, had become stronger, richer, and more enterprising.Yet the two guidelines laid down by Mayer Amschel for the Rothschild business operations (which, indeed, became a family tradition)—to conduct all transactions jointly and never to aim for excessive profits—helped to compensate to a notable extent for the inevitable risks inherent in handing down a business to future generations not all of whose members are qualified to run it. Amschel Mayer, Nathan, James, Salomon, and Karl—the founders of the Rothschild consortium—were themselves unequally endowed: Nathan and James stood out among their brothers by the force of their personalities, particularly Nathan, who was hard, deliberately boorish, and sarcastic. James, who was his brother's equal in all these things, possessed an alleviating air of some refinement as a result of living in the more polished atmosphere of Paris. The five founders in turn had unequal successors. For example, if Alphonse in Paris (1827–1905) was a worthy successor to his father, James, his own son, Édouard (1868–1949), was not as strong a figure as his position required. But Édouard's son (Guy [1909–2007]), and his cousins (Alain [1910–82] and Elie [1917–2007]), showed exceptional adaptability and ambition, thus confirming the constant element in the group's history for a century and a half: a remarkable capacity for seizing opportunities and for adapting in business as well as in politics. Successive generations of the Rothschild family have been similarly active in international finance and politics.The second generationIn separating the circumstantial from the personal and individual aspects of the dynasty's hegemony during the 19th century, one must note that, although the first group of Rothschilds arrived as strangers in their new countries, unfamiliar with the languages and the customs and subject to the jealousy and competition of local bankers, they stood out from those around them by their fierce will to acquire a place in the sun. By the second generation, when the sons of the five founding brothers (notable among them Anthony and Lionel Nathan in London, Alphonse and Gustave in Paris) entered the business, the Rothschilds were polished and refined, as well as naturalized and nationalized to the point of blending into leadership positions without losing any of their family attributes. It is possible that the young Rothschilds' education and the extremely worldly existence of the heads of the various houses helped to create this true mutation. On the other hand, the Rothschilds were influencing the national economy and politics of their countries as greatly as they were being influenced themselves. Alphonse, for example, as the head of the international banking syndicate that in 1871 and 1872 placed the two great French loans known as liberation loans after France's defeat by Prussia, could boast without immodesty that his influence had maintained the chief of the French government, Adolphe Thiers (Thiers, Adolphe), in power. At the same time, in 1875, Lionel (Rothschild, Lionel Walter Rothschild, 2nd Baron), in London (where he had been a member of the House of Commons since 1858), was able to give on a few hours notice the £4,000,000 that allowed the British government to become the principal stockholder in the Suez Canal Company. Obviously, the two cousins had become important citizens in their respective countries.There were frequent marriages between Rothschild cousins, and marriages generally were—with very rare exceptions—with Jews. In spite of the number of their descendants and the complexity of their family tree, the Rothschilds, particularly those of Vienna and Paris during the Nazi period, preserved the kind of family unity necessary to weather great misfortunes.The Rothschilds were much-honoured. Mayer's five sons were made barons of the Austrian Empire, a Rothschild was the first Jew to enter the British Parliament, and another was the first to be elevated to the British peerage. The head of the British branch of the family has always been considered the unofficial head of British Jewry. Members of the British and French families—the only ones still engaged in banking after the seizure by the Nazis of the Austrian house—have distinguished themselves as scientists and often as philanthropists. Baron Philippe de Rothschild (1902–88) became a premier winemaker, of the vineyard Mouton-Rothschild.Jean BouvierAdditional ReadingJules Ayer, A Century of Finance: 1804 to 1904 (1905), a brief, official work; Christian W. Berghoeffer, Meyer Amschel Rothschild der Gründer des Rothschildschen Bankhauses (1922), a very good study on the founder of the house; Jean Bouvier, Les Rothschild, new ed. (1967), portrays the Rothschilds' history up to the present time; Egon C. Corti, La Maison Rothschild, 2 vol. (1931), an excellent study of the Rothschilds in the middle of the 19th century; Bertrand Gille, Histoire de la maison Rothschild, 2 vol. (1965–67), an exhaustive work on the French house that makes use of the firm's records; Frederick Morton, The Rothschilds (1962), a brief, lively history.
* * *
Look at other dictionaries:
Rothschild family — family of financiers, public figures The French branch of the Rothschild family was founded in 1817 by Jacob Rothschild (1792 1868). He was the son of Meyer Rothschild (1743 1812), who started the family banking business in Frankfurt,… … France. A reference guide from Renaissance to the Present
Rothschild family — House of Rothschild redirects here. For the film, see The House of Rothschild. For the German surname Rothschild , see Rothschild (disambiguation). For one of the investment banks founded by the family, see N M Rothschild Sons. For one of the… … Wikipedia
Rothschild Family — (18–20th century) European bankers and philanthropists. For nearly two centuries, the Rothschilds have formed a financial dynasty without parallel either in Jewish or general history. In the remotest shtetl of the Russian Pale of Settlement,… … Who’s Who in Jewish History after the period of the Old Testament
Rothschild family — /ˈrɒθtʃaɪld/ (say rothchuyld), /ˈrɒθstʃaɪld/ (say rothschuyld) noun a family of bankers whose most prominent members were 1. Lionel Nathan, Baron de, 1808–79, English banker and politician; first Jewish member of parliament. 2. Meyer Amschel… … Australian English dictionary
ROTHSCHILD — ROTHSCHILD, family of financiers and philanthropists, patrons of the arts and sciences who greatly contributed to Jewish causes, particularly to the settlement of Ereẓ Israel and the State of Israel. (See charts: rothschild family ).Over the… … Encyclopedia of Judaism
ROTHSCHILD, BARON EDMOND JAMES DE — (1845–1934), philanthropist, patron of Jewish settlement in Ereẓ Israel, and art collector. Rothschild was born in Paris (see rothschild family ). In contrast to his two older brothers, Edmond was not given to banking, and from his youth was… … Encyclopedia of Judaism
ROTHSCHILD, NATHANIEL CHARLES JACOB, FOURTH BARON ROTHSCHILD — (1936– ), banker and public figure. Born in London, Jacob Rothschild was educated at Eton and Oxford. He joined the family bank, N.M. Rothschild, in 1964 and by his dynamism revived its fortunes. He left, however, in 1980, after conflict with its … Encyclopedia of Judaism
ROTHSCHILD, NATHANIEL MAYER VICTOR, LORD — (1910–1990), British biologist. A fellow of Trinity College, Cambridge (1935–39), he served in military intelligence during World War II and was awarded the George Medal (1944) and the U.S. Legion of Merit (1946). On his return to civilian life,… … Encyclopedia of Judaism
Rothschild banking family of France — This article is about the Rothschild banking family of France. For the family overview, see Rothschild family The Rothschild banking family of France was founded in 1812 in Paris by James Mayer Rothschild (1792–1868). James was sent there from… … Wikipedia
Rothschild banking family of England — The Rothschild banking family of England was founded in 1798 by Nathan Mayer von Rothschild (1777 1836) who first settled in Manchester but then moved to London. Nathan was sent there from his home in Frankfurt by his father, Mayer Amschel… … Wikipedia