Rothschild Dynasty
In 1798, third son Nathan Mayer Rothschild was sent to England to further the family interests in textile importing with £20,000 capital — the first foreign branch. Nathan became a naturalized citizen in 1804 and established a bank in the City of London. In 1810, Mayer entered into a formal partnership agreement with his three eldest sons. The youngest son Jacob was sent to Paris in 1811, enhancing the family's ability to operate across Europe. This enabled them to profit from the opportunity of financing Wellington's armies in Portugal, requiring the sourcing of large quantities of gold on behalf of the British government.
Mayer Amschel Rothschild died on 19 September 1812 in Frankfurt am Main. He was buried at the old Jewish cemetery in Frankfurt, located next to the Judengasse. His grave still exists. A park was named after him, also a street (Rothschildallee). In 1817 he was posthumously ennobled by the emperor Francis I of Austria. His descendants furthered the family fortune across Europe — the "five arrows" of banking. Eldest son Amschel Mayer took over the Frankfurt bank and Salomon moved to Vienna. Nathan turned the London branch into one of Europe's most powerful banking institutions (N. M. Rothschild & Sons), Calmann (gentrified to "Carl") set up a branch in Naples and Jacob ("James") became a giant of finance in Paris.
Read more about this topic: Mayer Amschel Rothschild
Famous quotes containing the word rothschild:
“Here was a little of everything in a small compass to satisfy the wants and the ambition of the woods,... but there seemed to me, as usual, a preponderance of children’s toys,—dogs to bark, and cats to mew, and trumpets to blow, where natives there hardly are yet. As if a child born into the Maine woods, among the pine cones and cedar berries, could not do without such a sugar-man or skipping-jack as the young Rothschild has.”
—Henry David Thoreau (1817–1862)