1798 - 1820 : The Rothschild story begins with Mayer
Amschel Rothschild, " The Founder ".
In the 1760s, the young Mayer Amschel established his business in
Frankfurt, dealing in coins and bills. By 1769 he was Court Agent to
William of Hanau and in 1768 he moved into the Green Shield House with his
wife, Gutle, and children. Here his five sons learned the skills that
would enable them to establish the Rothschild banking business across
Europe.
In 1798, at the age of 21, Nathan Mayer Rothschild left the home of his
father to set up in England, at first in Manchester, where he established
himself as a textile and general merchant with a reputation for aggressive
selling and competitive pricing.
In 1809 Nathan shifted his base to the City of London. He took premises
at New Court in St Swithin's Lane - to this day the home of the bank which
bears his name. Here he developed banking activities, dealing in bills of
exchange and arranging foreign loans.
His "best business" came in 1814 when he and his brothers were
commissioned by the British government to raise the funding to help
Britain and her allies defeat Napoleon.
Nathan's increasingly successful business as a banker in London
provided a model for his brothers back in Frankfurt.
Finally, with the strengthening of Austrian Imperial interests in
Italy, Carl set up business in Naples, leaving Amschel, the eldest of the
five sons of Mayer Amschel, to head the Frankfurt bank which was
continuing to grow in influence.
In 1812, James, the youngest, established a banking house in Paris.
Salomon left next, in 1820, to settle in Vienna, where the family were
already active in Imperial finance.
Finally, with the strengthening of Austrian Imperial interests in
Italy, Carl set up business in Naples, leaving Amschel, the eldest of the
five sons of Mayer Amschel, to head the Frankfurt bank which was
continuing to grow in influence. |