Social Transformations of the Victorian Age: A Survey of Court and Country. Escott Thomas Hay Sweet

physician, Speranza Collins, abjured the faith of his fathers, and was formally received into the Anglican Communion by Dr Warmester, Dean of Westminster. By the time that the house of Brunswick was established on the throne, the fabric of Anglo-Jewish plutocracy had well nigh built itself up. The great natural philosopher Emmanuel Da Costa, whom the Italian Jews of the eighteenth century furnished to England, compiled a list by name of all his countrymen living under the sovereignty of George III. In this list there are no Rothschilds. The patronymics of most frequent occurrence are Rodrigues, and Goldsmid. This latter seems to have been the Semitic family which, under the third George, occupied the position most closely analogous to that filled by the house of Rothschild under Queen Victoria. The country houses in the Sheen and Richmond district with their deer parks and vineries owned by Abraham and Jacob Goldsmid, foreshadowed distinctly the later beauties in the same region of Gunnersbury, if not of the more distant Mentmore.

      At the close of the eighteenth century, the Frankfort Rothschilds, the friends and bankers of the Prince of Hesse-Cassell, were a power in Germany only second to that of the Empire. The capital on the Main had from the days of Charlemagne been a trading centre. During the sixteenth century, its fairs caused the place to be the market of the world, and three hundred years later may have given to the Prince Consort14 the first idea of the great Exhibition in Hyde Park. Long before Mayer Amschel Rothschild, the founder of the firm died, the prices of Frankfort were being studied as closely as those of Antwerp or Rotterdam. The third brother of Anselm Mayer, who controlled till 1855 the Frankfort branch, was evidently the first great financial genius of his family. His enterprise and judgment made him the Crœsus of Europe. They also at a critical point in his career prompted him to save from ruin more than one Paris bank reeling under the effects of North American insolvencies. At the close of the last century, the English business of the Rothschilds was transacted by the firm of Van Notten. A dispute with a Lancashire manufacturer on whom Germany and Austria depended for their cotton goods, sent Nathan Mayer Rothschild from Frankfort to England. In this way the English house came into existence, and the necessity for foreign agents outside the family ceased. The Napoleonic wars, as is well known, largely contributed in their successive incidents to the earlier fortunes of the family. Already the first Rothschild had speculated largely in the bills on the English Government given by the Duke of Wellington for the support of the British troops. Settled in London he provided the channels for the regular transmission of funds to the forces in the Peninsula. Early in 1800, he was the first man on the London Stock Exchange. His agents followed in the train of every regiment. His couriers in their specially chartered ships were on every sea. Rothschild himself, unseen by others, watched the Battle of Waterloo. He crossed the Channel in a fishing boat, and arrived in London, to find it full of rumours of the English defeat. Casually appearing on the Stock Exchange, he received the condolences of the City on his ruin. Only he himself knew what his investments were. Instead of being ruined, he had added a million to the family wealth. Such at least is the conventional account. The foregoing details are in substance taken from an entertaining volume by John Reeves on The Rothschilds, published by Messrs Sampson Low.

      The present writer has, however, some reason to question the accuracy of the tradition of a Rothschild secretly watching the great battle. The account that Baron Lionel’s friends generally gave is as follows. During the great Corsican’s usurpation of the First Magistrateship in the French State, the lawful possessor of the Throne, Louis XVIII. was living in retirement in Belgium.15 The Rothschilds, on the early morrow of the decisive battle, sent a courier to the King’s villa near Ghent, to gather from the reception of the news by His Majesty how the fortune of the day had gone. The King’s sitting room was on the ground floor with windows looking on the garden. In that enclosure the Rothschild emissary took up his station, so that, himself unseen, he could observe what passed on the other side of the windows. Presently a rider, fresh from his horse, still booted, spurred, and mud splashed, entered the chamber, made a low obeisance to its dethroned occupant, who, on his part, graciously extended his fingers which the messenger gently touched with his lips. Hence the outside spectator inferred Napoleon’s defeat, and proceeded at once to his principals in London. As an English financier this is the Rothschild who popularized foreign stocks and loans in this country by causing the interest and dividends to be paid in London, instead of, as heretofore, abroad. Four years after Waterloo, he first identified himself closely with the English Government by undertaking a loan of twelve millions. His profit on the transaction was one hundred and fifty thousand pounds. With this sum he bought Gunnersbury, formerly the home of Amelia, aunt of George III., which had since passed into the hands of a private citizen named Copland. The Rothschilds naturally and honourably took their place among the lords of the soil in their adopted country. He who is now spoken of encountered, perhaps provoked, much opposition from rival financiers, and more than once measured swords with the Bank of England which had hesitated about technicalities of discount. Shortly after this the New Court potentate called at the Bank bringing with him a sum of twenty-one thousand pounds in £5 notes,16 each deposited in a separate bag. Seven hours were occupied in changing this paper into gold. For the time the general business of the establishment was arrested. The strategy succeeded completely. The next day it was announced that in future the Rothschild bills would be taken as the Banks’.

      In the July of 1836 a pigeon fluttered in through the open window of the New Court counting house. The bird had travelled from Frankfort; it brought the news of the death in his native town of the great head of the firm. Many religious ceremonies of the Hebrew race have, during these last few years, been converted into great functions of modish society. The ceremonial series began when the body of the first great Rothschild known to England, in the presence of the whole Corps Diplomatique attached to the Court of St James’s, was committed to the earth in the East End cemetery of his race. With that event the latter day history of the Rothschilds begins. Henceforward the business was to be conducted by Nathaniel Mayer Rothschild’s four sons in England, together with their uncles abroad. Of these sons Nathaniel settled in France, Lionel, Nathan Mayer and Anthony managed the English firm. Under the régime of Baron Lionel Rothschild whom many now living remember well, the first great act of association with the English Government was in 1847 the Irish Famine Loan, supplemented as it was by munificent subscriptions for the relief of the distress which the failure of the potato crop had caused. Seven years later Baron Lionel carried out the sixteen millions loan for the English Government. The transaction for which the Lionel administration is best remembered by the present generation is the advance for the purchase of the Suez Canal shares in 1876. The announcement of that negotiation by the Prime Minister of the day in conjunction with his compatriots in the City, came as a surprise to the English people at large. It has, however, on the highest authority since transpired that when in 1874 Mr Disraeli took office, he had already decided upon acquiring for England a preponderating interest in the international waterway. Nor is it impertinent to assume that during the Sunday visits which the statesman, as Mr Disraeli and as Lord Beaconsfield, paid to the suburban home of Baron Lionel, this scheme may sometimes have been discussed. Four millions was the sum advanced by New Court, one hundred thousand pounds represented the total of the Rothschild 2½ per cent. profit.

      By this time Baron Lionel had been in possession of a seat in the House of Commons some ten years, won though that seat had been only after a prolonged struggle. At the beginning of the century no Jew magistrate or sheriff existed. In 1837, Sir David Salomons became sheriff of London and Middlesex, but the true faith of a Christian test prevented him from serving. Eventually, to oblige the City, Lord Chancellor Campbell introduced a Bill removing this disability. Parliament, however, was still closed against the Jew. Ten years later Lionel Rothschild, with Lord John Russell, was elected M.P. for London. The Jewish Parliamentary Relief Bill, supported by Mr Disraeli as well as Mr Gladstone, passed the House of Commons, to be thrown out in the Lords. In 1850 another measure shared the same fate. The sixth decade of this century had come before the first Rothschild took his place on the green leather benches. Mr Disraeli’s last novel, Endymion, as rich as any of its predecessors in personal portraits, contains in the character of Mr Neuchatel, the banker, the most graphic pen and ink sketch of the financier now mentioned. In the grounds of Gunnersbury, statesmen of both parties, diplomatists from every Court, foreigners of every grade of distinction met each other. Here Mr Disraeli

14

The idea of the Exhibition being ‘universal’ was not that of the Prince, but of the Committee of the Society of Arts. It was first suggested in fact by Mr Thomas Winkworth.

15

Most of the time he was at Ghent. His stay there is known in French history as La cour de Gand.

16

These anecdotes are given from Mr Reeves’ volume already mentioned. They are suggestive of incident if not uniformly accurate in fact. The correction of the Waterloo incident given above commended itself to some among Baron Lionel’s friends who would be likely to know.