ROTHSCHILD, raths'child (Ger. roe shift). The famous European financial house known as Rothschild was founded by Mayer Anselm Rothschild: b. Frankfort-on-the-Main 1943; d. 19 Sept. 1812. He was of Jewish parentage, and was destiited for the priesthood, but found commercial pursuits more to his lik ing, and engaged in trading, afterward entered a banking house in Hanover. His industry, frugality and sound business methods made him in a few years the master of a small capi tal, and he returned to Frankfort, where he es tablished the banking house still in existence. The firm originally consisted of his five sons, who established branches of the house in dif ferent European cities: Anselm, b. 12June 1773; d. 6 Dec. 1855; resided in Frankfort; Solomon, b. 9 Sept. 1774; d. 27 July 1855; lived in Vienna; Nathan, b. 16 Sept. 1777; d. 18 July 1836; located at London; Karl (baron), b. 24 April 17:: ; d. 10 March 1855; resided in Naples; and Jacob (baron), b. 15 May 1792; d. 15 Nov. 1868; resided in Paris. The political events of 1813 raised the house of Rothschild to the important position it has since occupied in the commercial and financial world. In 12 years the Rothschilds raised by way of loan or subsidy an amount exceeding £100,000,000 ster ling which was distributed by them in nearly the following proportions:England, f40,000,000; Austria, f10,000,000; Prussia, f8,000,000; France, f16,000,000; Naples, f10,000,000; Russia, f5,000, 000; several German courts, 11,000,000; Brazil, £2,000,000; exclusive of various other large sums. The remarkable degree of success at tained by the house, setting aside the favorable circumstances of which they have taken advan tage, may be largely attributed to their strict adherence to two fundamental maxims laid down by the founder of the house. The first of
these is their conducting all operations in com mon. Every proposition of magnitude is laid before each member of the firm, fully dis cussed and then executed by their united ef forts. The second principle is to set definite limits to each operation and never to aim at exorbitant profits. Their wealth has increased in an unexampled degree, and their reputation and credit have been steadily fortified by fair dealing, reasonable terms and sagacious and systematic operations which are clearly planned and judiciously executed. The Rothschilds are extremely punctual in meeting their contracts, and before the introduction of the telegraph their couriers were frequently in advance of the government. The advantages of their system and their strength were clearly shown when in 1848 they met conjointly a loss of several mil lions, which would have crushed any other house, but which the enormous scope of their resources enabled them to meet without diffi culty. The members of each succeeding genera tion are admitted into the firm and much inter marriage among cousins indicates that the family is destined long to retain its control of Euro pean finance. Lionel Nathan, b. 22 Nov. 1808; d. 3 June 1879, was the first Jew admitted to the English Parliament, and his son Nathaniel Mayer, b. 8 Nov. 1840; d. 13 Tune 1905, was created a baron in 1883, who was succeeded by his son, Lionel Maitland, b. 8 Feb. 1868, as second baron Rothschild. Consult Reeves. 'The Rothschilds (1887) ; 'Das Haus Rothschild' (1857) • Von Scherb, 'Geschichte des Hauses Rothsc.hikl) (1893) ; Michaud et Villeneuve, (Histoire de Saint-Simonisme et de la famille de Rothschild' (1847).