06-25-2004, 12:51 AM
The House of Rothschild: Money's Prophets, 1798-1848
by Niall Ferguson
Founded in the late 18th century by expatriate German Jews, the London-based House of Rothschild was within decades the largest banking enterprise in the world. Its principals controlled a vast portion of the industrial world's wealth--more so, Oxford historian Niall Ferguson writes, than any family has since--and as a result enjoyed tremendous political influence in the major capitals of Europe, counting as allies such important figures as Metternich and Wellington. That influence would provoke countless anti-Semitic tracts fulminating against Jewish usury and against the power of "Eastern potentates" in the empires of England and France. Although the Rothschilds were well aware of their power and not reluctant to use it, they operated fairly, Ferguson notes. For example, whereas lending rates in the textile industry, in which the Rothschilds got their start, were often 20 percent, the fledgling house charged 5 to 9 percent. Through shrewd, complex negotiations they helped promote peace and the beginnings of economic union throughout Europe.
Ferguson's sprawling history covers much ground and involves a cast of hundreds of players. At the outset he notes that his book was commissioned by the modern descendants of the House of Rothschild; even so, he approaches his task with careful balance and a critical eye, pointing out the Rothschilds' failings as well as successes. The result is a fine, solid contribution to economic history, one that, unlike so many books in the field, is eminently readable. --Gregory McNamee
From Publishers Weekly
Anyone interested in finance, European history or the rise of one spectacularly successful Jewish family will find the first volume of this history of the Rothschilds spellbinding. Equipped with unprecedented access to pre-1915 Rothschild archives, Oxford historian Ferguson begins the family history with Frankfurt merchant Mayer Amschel, but the real story starts with the arrival of the most capable of his sons, Nathan Mayer, in England 200 years ago. Each of Mayer's five sons was located in... read more --This text refers to an out of print or unavailable edition of this title.
Book Description
The first authoritative and compulsively readable history of the rise of this legendary banking dynasty
In his rich and nuanced portrait of the remark- able, elusive Rothschild family, Oxford scholar and bestselling author Niall Ferguson uncovers the secrets behind the family's phenomenal economic success. He reveals for the first time the details of the family's vast political network, which gave it access to and influence over many of the greatest statesmen of the age. And he tells a family saga, tracing the importance of family unity and the profound role of Judaism in the lives of a dynasty that rose from the confines of the Frankfurt ghetto and later used its influence to assist oppressed Jews throughout Europe. A definitive work of impeccable scholarship with a thoroughly engaging narrative, The House of Rothschild is a biography of the rarest kind, in which mysterious and fascinating historical figures finally spring to life.
"A great biography." --Time magazine
"Absorbing. . . .Their enthralling story has been told before, but never in such authoritative detail." --The New York Times Book Review
"Niall Ferguson's rich and compelling new book . . . is a feast." --The Wall Street Journal
* Chosen by Business Week as one of the Best Business Books of 1998
* A finalist for the National Jewish Book Award
The House of Rothschild 1798-1848 covers a pivotal time in history. The Napoleonic Wars, rise of capitalism, the rise of multinational businesses, development of the railroad and the French Revolution. The Rothschild's had a front row seat to all of this and were the focus of some of it. From humble beginnings in the Frankfurt Jewish Ghetto, the rise of this family is chronicled through three generations. Many myths about the Rothschilds are laid to rest by Ferguson's groundbreaking research, much of it original scholarship. One of the main threads running through the book is that finance had a profound role in the ability of the rulers of Europe to do what they wanted. By 1825 the Rothschild had a significant role in sovereign finance. Many things were wished for by the various despots that ruled Europe at that time, but if the Rothschilds did not perceive that those wishes would lead to stabilization and peace it typically was not supported thereby making it difficult to realize. They did not support the despots with out reserve, but they knew that peace protected their interests. That perspective makes this book unique.
The Rothschild family business was a partnership that was constructed as the 2nd generation left Frankfurt for London, Paris, Vienna, and Naples. That the partnership should survive was the 1st generation's greatest desire and was respected (most of the time) by his descendants. The exchanges between the 5 houses make for fascinating reading and are reference extensively in the book.
The book details how the Rothschilds pushed for Jewish emancipation and equality and were resisted at every turn. That did not prevent them from receiving commendations from the various governments that the worked with. It did not prevent them from gaining entry to the most prestigious universities for their children. It did not prevent Lionel from gaining entry into the British Parliament without having to swear a Christian Oath. The Rothschilds achieved a great deal for themselves and for Judaism.
Intrigue, betrayal, revolution, and vignettes of famous people make this a very entertaining book, not merely a historic rendering of dates and places. From the beginning of the Rothschild climb to prominence with the Elector of Hesse-Kassel to the French Revolution in 1848, this book will engage the reader. --
by Niall Ferguson
Founded in the late 18th century by expatriate German Jews, the London-based House of Rothschild was within decades the largest banking enterprise in the world. Its principals controlled a vast portion of the industrial world's wealth--more so, Oxford historian Niall Ferguson writes, than any family has since--and as a result enjoyed tremendous political influence in the major capitals of Europe, counting as allies such important figures as Metternich and Wellington. That influence would provoke countless anti-Semitic tracts fulminating against Jewish usury and against the power of "Eastern potentates" in the empires of England and France. Although the Rothschilds were well aware of their power and not reluctant to use it, they operated fairly, Ferguson notes. For example, whereas lending rates in the textile industry, in which the Rothschilds got their start, were often 20 percent, the fledgling house charged 5 to 9 percent. Through shrewd, complex negotiations they helped promote peace and the beginnings of economic union throughout Europe.
Ferguson's sprawling history covers much ground and involves a cast of hundreds of players. At the outset he notes that his book was commissioned by the modern descendants of the House of Rothschild; even so, he approaches his task with careful balance and a critical eye, pointing out the Rothschilds' failings as well as successes. The result is a fine, solid contribution to economic history, one that, unlike so many books in the field, is eminently readable. --Gregory McNamee
From Publishers Weekly
Anyone interested in finance, European history or the rise of one spectacularly successful Jewish family will find the first volume of this history of the Rothschilds spellbinding. Equipped with unprecedented access to pre-1915 Rothschild archives, Oxford historian Ferguson begins the family history with Frankfurt merchant Mayer Amschel, but the real story starts with the arrival of the most capable of his sons, Nathan Mayer, in England 200 years ago. Each of Mayer's five sons was located in... read more --This text refers to an out of print or unavailable edition of this title.
Book Description
The first authoritative and compulsively readable history of the rise of this legendary banking dynasty
In his rich and nuanced portrait of the remark- able, elusive Rothschild family, Oxford scholar and bestselling author Niall Ferguson uncovers the secrets behind the family's phenomenal economic success. He reveals for the first time the details of the family's vast political network, which gave it access to and influence over many of the greatest statesmen of the age. And he tells a family saga, tracing the importance of family unity and the profound role of Judaism in the lives of a dynasty that rose from the confines of the Frankfurt ghetto and later used its influence to assist oppressed Jews throughout Europe. A definitive work of impeccable scholarship with a thoroughly engaging narrative, The House of Rothschild is a biography of the rarest kind, in which mysterious and fascinating historical figures finally spring to life.
"A great biography." --Time magazine
"Absorbing. . . .Their enthralling story has been told before, but never in such authoritative detail." --The New York Times Book Review
"Niall Ferguson's rich and compelling new book . . . is a feast." --The Wall Street Journal
* Chosen by Business Week as one of the Best Business Books of 1998
* A finalist for the National Jewish Book Award
The House of Rothschild 1798-1848 covers a pivotal time in history. The Napoleonic Wars, rise of capitalism, the rise of multinational businesses, development of the railroad and the French Revolution. The Rothschild's had a front row seat to all of this and were the focus of some of it. From humble beginnings in the Frankfurt Jewish Ghetto, the rise of this family is chronicled through three generations. Many myths about the Rothschilds are laid to rest by Ferguson's groundbreaking research, much of it original scholarship. One of the main threads running through the book is that finance had a profound role in the ability of the rulers of Europe to do what they wanted. By 1825 the Rothschild had a significant role in sovereign finance. Many things were wished for by the various despots that ruled Europe at that time, but if the Rothschilds did not perceive that those wishes would lead to stabilization and peace it typically was not supported thereby making it difficult to realize. They did not support the despots with out reserve, but they knew that peace protected their interests. That perspective makes this book unique.
The Rothschild family business was a partnership that was constructed as the 2nd generation left Frankfurt for London, Paris, Vienna, and Naples. That the partnership should survive was the 1st generation's greatest desire and was respected (most of the time) by his descendants. The exchanges between the 5 houses make for fascinating reading and are reference extensively in the book.
The book details how the Rothschilds pushed for Jewish emancipation and equality and were resisted at every turn. That did not prevent them from receiving commendations from the various governments that the worked with. It did not prevent them from gaining entry to the most prestigious universities for their children. It did not prevent Lionel from gaining entry into the British Parliament without having to swear a Christian Oath. The Rothschilds achieved a great deal for themselves and for Judaism.
Intrigue, betrayal, revolution, and vignettes of famous people make this a very entertaining book, not merely a historic rendering of dates and places. From the beginning of the Rothschild climb to prominence with the Elector of Hesse-Kassel to the French Revolution in 1848, this book will engage the reader. --