MONEY AND POWER

Waipa Post, Volume 38, Issue 2269, 16 February 1929, Page 6

MONEY AND POWER

ROTHSCHILD RULE. LAST CENTURY’S FEATS. Count Corti has completed his history of the Rotjischilds in a companion volume to “The Rise of the House of Rothschild,” which was published last year. Count Corti (writes a reviewer) takes up his story from 1830, when the house had suffered its first serious setback in the July revolution in France, in which Charles X lost his throne. The first chapters deal with the amazing story of how the five brothers grappled with the situation caused by the enormous falling off in the value of their holdings in Rentes, caused by the revolution. While banks failed all over Europe, the Rothschilds hastened to the help of James, who was head of the Paris house, and by almost superhuman efforts they prevented their credit from toppling. By 1832 they had not only retrieved their losses, but had added enormously to their vast resources. Then came the railway era. Nathan, in London, was suspicious of the innovation, but when he saw the success of the Liverpool and Manchester line he warned Solomon, in Vienna, and James, in Paris, to “get in first,” which they promptly did, and so obtained a commanding position in Continental undertakings. From this period until 1850 the house of Rothschild exercised a power in Europe such as was never held by any one monarch. The Rothschilds’ word was law to various Governments, because of their almost exclusive control of State finance. James had unrestricted access to Louis Philippe, who trusted him implicitly and with good reason. In Austria the powerful Metternick had allowed Solomon to consolidate his power until he was indispensable. Nathan’s influence in England was not only great, but he had placed the King of the Belgians under such obligations that he had become the paramount power in that country, as well as exercising a great influence in Spain. Carl was still in Italy, and the eldest brother, Meyer, in Frankfort, was the dominating figure in Germany.

Three times their votes prevented war in Europe. They wrested honours for themselves and concessions for their co-religionists from practically every Power in Europe except Russia, and they financed France and Britain against the Czar in 1854. By the time the sons of the five brothers had succeeded them almost all the grave disabilities of the Jews in Europe had been removed.

Although the house has not now the autocratic power it once had, its wealth and widespread interest still invest it with considerable international influence. It was Lionel Rothschild who almost at a moment’s notice found the £4,000,000 for the British Government’s purchase of the Khedive’s Suez canal shares.