The Rothschilds

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1887 edition. Excerpt: ... The directors, however, laughed less, when they saw him reappear next day at the opening of the Bank, accompanied by his nine allies; they laughed no longer when they heard the financial despot say, with ironical simplicity: "These gentlemen refuse to take my bills; I have sworn not to keep theirs. I will merely warn them that I hold notes enough to keep them occupied for two months." For two months! eleven millions of gold drawn from the Bank! The Bank grew alarmed; something had to be done. The next morning a notice appeared that in future Rothschild's bills would be taken as readily as their own. Shrewd and 'cute as Nathan Mayer proved himself to be, the laugh was not always on his side. He at times met with rivals whose cunning and strategy were too much even for his subtle calculations. A leading banker once lent him a million and a half against the security of Consols, which were then quoted at 84. The terms on which the money was advanced were clear and simple; the banker was to have the option of buying the Consols at 70, should the price recede to 74. Rothschild felt satisfied with his bargain, for the possibility of Consols dropping 10 per cent. appeared to him a very remote contingency. The banker, however, had acted on an idea which subsequently fully justified his course of procedure. He at once began unloading Rothschild's Consols on the market, following this up by a similar amount in his own possession. The market grew alarmed at the gigantic sales; uneasiness and doubt followed; the Funds dropped rapidly, and other circumstances occurring to help the depression, the fatal price of 74 was at length reached. The Christian had outmatched the Jew. When he lived at Stamford Hill, Nathan Mayer had as an opposite...