the mythology surrounding the rothschilds wealth and power is two centuries old the resulting mythology has proved goal is to as long lived as the  ever since the second decade of the nineteenth century there has been speculation about the origins and extent of the family as well about their political influence not only in the five countries where they were robbed child houses but throughout the world about their judaism the five prophet child houses constitute an early version of what later became known as the multinational perhaps the most important point to grasp about this multinational partnership is kings of the jews which contemporaries applied to them contained an important element of truth that was exactly the way the rothschilds saw and conducted themselves there are no fewer than one hundred fifty three species or subspecies of insect third generation also threw themselves into hunting and horse racing those quintessentially aristocratic pastimes they also extended their patronage to include writers benjamin disraeli honorary depose ak and  rothschilds appreciated the importance of proximity to politicians the men who determine not only the extent of budget deficits but also the domestic and foreign policies which so influenced the financial markets and politicians soon came to realize the importance of proximity to the rothschilds good times seemed indispensable to the solvency of the states the politicians government and who could always be relied upon to provide up to the minute political news when the former court banker in england though it was george the fourth the only member of the british royal family to make the lent money in the eighteen twenty in one thousand twenty four for example he lent ten thousand pounds to the duke of york as well as giving him one hundred complimentary shares in the alliance insurance company the rothschilds also looked ahead to the next generation nine hundred sixteen the only child of the prince regent princes charlotte nathan hastened to offer the proud father a financial advice and his exclusive messengers service nathan sons continued to act as the duchess's banker after the duke's death relaying money to her brother f became queen victoria's prince consort in turn victoria albert's eldest son was on friendly terms with many members of the family before and after he succeeded his mother is edward the seventh the list of victorian politicians even as late as the first decade of the twentieth century the system of partnerships continued to function in such a way that english rothschilds had a financial stake in the paris house and french rothschilds a stake in the london house the history of the rothschilds also helps to eliminate the long running differences between british french and german banking for the obvious reason that the various rothschilds houses were similar though not identical in each country in addition to the inevitable web of credits and debits with other firms which arose from these activities the rothschild's also offered to a select group of customers usually royal and a risk to credit individuals whom they wished to cultivate a range of personal banking services ranging from large personal loans as in the case of the austrian chancellor prince metternich to a first class private postal service as in the case of queen victoria and the rothschilds were also major industrial investors an aspect of their business which has often been underestimated when the development of railways raised the possibility of transforming europe's transport system in the eight hundred thirty s and eight hundred forty s the rothschilds were among the leading financial backers of lines beginning in france austria and germany indeed by the eight hundred sixty s james de rothschild had built up something like a pan european railway network extending northwards from france to belgium southwards to spain and eastwards to germany switzerland austria and italy from an early stage the rothschilds also had major mining interests beginning in the eight hundred thirty s with their acquisition of the spanish business this was an authentic lead global operation extending from south africa to burma from montana to baku unlike modern multinationals however this was always a family firm with executive decision making strictly monopolized by the partners who until nine hundred sixty were exclusively drawn from the ranks of male roth john there are numerous apocryphal business maxims attributed to the rothschilds for example to hold a third of one's wealth in securities a third in real estate and a third in jewels and artworks to treat the stock exchange like a cold shower which in quick out or to leave the last ten percent to someone else the economic history of capitalism is therefore incomplete until some attempt has been made to explain how the rothschilds became so phenomenally rich all nineteenth century states ran budget deficits and some almost and it was war and the preparation for war which generally precipitated the biggest increases in expenditure for it was by lending to governments or by speculating in existing government bonds th rothschilds made a very large part of their  the answer lies in the way these investments were carried out only a few years previously buyer and shell had been arranging payments of some six hundred twenty thousand who didn't from the elected to austria to pay for troops and horses in the eight nine campaign against france shortly after my ram shells death his son and show was advancing two hundred fifty five thousand who'd been to purchase horses for the french army he simply backed both sides such a strategy has obvious attractions and it was to become a frequent rothchild gambit in the decades ahead actual was only half joking when he wrote urging solomon do your stuff make the frankfurt house richer by a million francs the par s richer by a million louis d'or and the london house richer by a million pounds you'll be awarded the order of the grandon made such transactions probably accounted for the lion's share of the profits the rothschilds made in this decisive period in june eight hundred fourteen harris listed the payments they had so far made to prussia austria the french king and the british army including money that it not yet been disbursed the total was twelve francs more was to come fine al the markets were tending to follow the rothschild lead as karl noted when we buy everybody buy this reflected the widespread belief that the rothschilds were acting on behalf of the english government and that this was being done in order to force the rate of the pound sterling up that we succeeded very well in doing so eighteen a year after the end of the war of eighteen twelve in america napoleon a scaped his exile and returned to paris just as the brothers appeared to be losing the peace  days plunged europe back into war restoring the financial conditions in which the rothschilds had give their to thrive this time not only russia and prussia but the previously aloof austrians found they had little option but to accept payment amounted to nine million seven hundred eighty nine thousand seven hundred seventy eight pounds in this the rothschilds had invaluable accomplices in the allied powers themselves naturally wish to pocket as much as they could before peace w subsidies ceased as their father had taught them the brothers were always careful to make their terms attractive not only to governments but also to the individual officials with whom they were negotiating englishman gave their lives on a steamy summer day in july of eighteen it seemed the outcome was certainly in down in fact at napoleon attacked a few hours earlier it would probably have won the battle other nervous investors thought the wrong job was selling it should only seen one napoleon most of one's wellington most of them on the market plummeted soon everyone was selling their console their british government bonds  drop sharply but then started secretly buying up the console's it was agents for only a fraction of their worth hours before of england as well whether or not the rothschild family seized control of the bank of england the first privately owned central bank in a major european nation and the wealthiest one thing is certain by the m eighteen hundreds the rothschilds were the richest family in the world bar none they dominated the new government bond markets and branched into other banks and industrial concerns like france and britain the central and east european states emerged from the war with dire financial problems which could be addressed only with the assistance of foreign capital as disraeli later put it in his the exhaustion of a war of twenty five years europe must require capital to carry on peace france wanted austria more russia a little russia a few million more over the policy of the holy alliance was bound to breed additional financial needs from which the ross childs could also profit but the principle aim of the alliance was to avert a recurrence of the revolutionary epidemic which had caused such a people in europe the tween german writer knew big ben they were the nation's worst enemies they have done more than any to undermine the foundations of freedom and it is unquestionable that most of the peoples of europe would by this time be in full possession of libert twenty even appeared to be in a position to influence the decision as to which prince would become the new king therefore me more sense to argue that the rothschilds were beginning to supplant rather than merely shore up the european mo sixteen and eight hundred seventy the size of the floating debt reached twenty million taler by the autumn when the government began to contemplate raising alone in london in sterling but the interest payable half yearly not in berlin but in london secondly there was to be a british style sinking fund to ensure the amortization of the loan this deliberate and lissa's ation of  foreign loan was a new departure for the international capital market now it was much easier to invest in foreign affairs the fact that throughout the century old foreign government bonds paid higher yields the british console's meant the people did the times did not exaggerate when it later described nathan as the first introducer of foreign loans into britain moreover the loan was issued not just in london but also in frankfurt and in hamburg amsterdam and vienna in model for such international bond issues which would swiftly become standard in his book on the traffic in state bobbins eighteen twenty five the german legal expert johann heinrich bender identified this as one of the rothschilds principal contribution to modern economic development any owner of government bonds can collect the interest at his convenience in several different places without any effort least by the bankers there and wrote or were impressed or went further the ross child in this country has an incredible influence of all financial affairs here in london it is widely stated it is indeed close to moral force or power which religion has lost connect as a surrogate for religion indeed it is a new religion when the old religion finally goes under it will provide substitutes for its practical blessing strangely enough it is multi polar world in which five hours with distinct interests sought to resolve international crises without resorting to war the raaf childs acted not so much to ensure peace as to underwrite it once it had been made a great war could be undertaken by any european state or any great state loans subscribe if the house a proper trial than its connections at their base against the general but made much the same point from a german nationalist perspective that his examples can also be found in refusing gladstone's requests to make line of the rothschilds appear when victoria explicitly questioned whether one who owes his great wealth to contracts with foreign governments for loans or to successful speculations on the stock exchange can fairly claim a british peerage a good illustration as john read his book the rob childs the financial rulers of nations which returns a typical verdict the ro childs belong to no one nationality they are cosmopolitan they belong to no party they were ready to grow rich at the expense of friend and foe alike the central dilemma which confronted the rothschilds lazy  because of their wealth other jews looked to them for leadership in their pursuit of equal civil and political rights they themselves had no desire to forsake their belief whole town and country residences or barren palestine land of nephew he went on in spite of humanitarian feelings we probably all agree that there was something unsatisfactorily investee g s encroaching on the privacy of our country even for membership a short periods of time even in one nine hundred forty six speaking in the house of lords dicta defended the policy of restricting immigration to palestine the only logical solution was that for to find some alternative territory for the jews to go to the nazis themselves most of madagascar at around the same time the powerhouse forwarded to new court a proposal to purchase two hundred thousand acres of brazil's matta grosso another to settle jews this was broadly the argument of the early zionists like theodore had so he came to believe that the only solution to the jewish question was indeed for the jews to leave europe and found their own euthanasia heads on made a succession of attempts to win the support of the rothschilds in the belief that they were about to liquidate their vast capital as a response to any semitic attacks but his sixty six page address to the rothschild family council was never sent  initial rebuff that they were vulgar contemptuous egotistical people rock child he later declared were a national misfortune for the jews even threatening to liquidate them or to wage a barbaric campaign against them if they opposed him if a zionist could use such language in the a p nineties it is perhaps not surprising that the radical anti semites to flourish to the defeated states of central europe after the first world war did so to a good example is the trick eccles address to all working people of nine hundred ninety the house of rust giles owns forty billion they only need to administer their wealth to see that it is nicely place they do not need to work at least not put we understand by work but who provides them and their like with such an enormous amount of money who does this you do it nobody but you that's right it is your money hard earned through care  financed wars and revolutions and brought the peoples into interest servitude through loans the television preacher and republican politician pat robertson's book the new world order published in one thousand nine hundred one states a cursory search of the internet reveals a plethora of conspiracy theories the rothschilds arranged the murder of president lincoln as his post war policies would have wrecked their commodities speculation the rothschilds financed the rise of hitler as about work against the soviet union the rothschilds are interwoven with the catholic church and jointly with the traditional mafia and the american cia which was pro nazi they are the hidden power which controls other of england and the federal reserve system and obvious rothschild front through this network of global power they have been responsible for among other things the boer war the creation of israel to control the oil of the middle east the russian revolution a coup on russia by the united states financial arms largely controlled by the rothschilds and even the floating of the dollar by president nixon today they and the associates in the conservative party in the press are plotting to monopolize the world's energy supplies and they're interested electricity coal and gas privatization it might be thought that a serious banking history should scrupulously avoid reference to this kind of nonsense it is impossible to appreciate the need for a scholarly history of the subject if one blithely pretends such myths do not exist these late verses indicated keen awareness of the power of money and specifically of the new kind of financial power for son of god by nathan ross a child who hold the balance of the world asked byron in the twelfth ca who reign over congress whether royalist or liberal who rouse the shirtless patriots of spain who keep the world both old and new in pain or pleasure to make politics run liberal the shade of bonaparte's noble daring jew wrath child and his fellow christian and bearing to byron ross child and bearing were the true lords of europe whose every loan is not a merely but byron could suggest even satirically that nathan ross child hill belong with alexander bearing the balance of the world requires some explanation in april eight hundred twenty five the market began to slide the heaviest tolls were experienced by british industrial securities and latin american bonds such a severe asset price deflation was bound to bring a banking crisis in its wake as it was seventy three out of seven hundred seventy country banks failed the country came within forty eight hours of putting stop to all dealings between man and man except by barter much of the time nathan was a buyer or borrower of gold and silver of course nathan would not have made such immense deliveries of gold without asking for a generous commission in return the operation has to be seen as part of his campaign to establish himself as the dominant  the rescue of the bank was a remarkable achievement which owed everything to the international nature of the rothschilds operation in effect the brothers were establishing that system of international monetary co operation which would later be performed routinely by banks on which the gold standard came to the benefit increasingly their position in the international bullion market was becoming as dominant as their position in the international bond market byron was therefore not but there loans good seat a nation or upset a throne the urge only in regarding the two bankers as financial equals in eight hundred fifty may had been eighteen twenty five they were not there was a sixth great power in the eighteen twenty years it was no longer bearing the brunt at the same time by dint of their size the rothschilds came to see themselves as bearing a degree of responsibility for the stability of the banking system as a whole this explains their reluctance to see their rivals fail in all this the rothschilds were increasingly beginning to think in a way fundamentally similar to that characteristic of central bankers were the central banks of england and france continued to be partly private institution in terms of their financial resources they were in fact the only banks comparable with the rothschilds but of course they were national where the rothschilds were international the rothschilds had no interest in resisting their monopolization of note issues the relationships between the rothschilds and the european central banks with us almost always close and appearance of james rothschild at the bourse was expected to boost russian bond prices by the summer of eight hundred twenty five therefore the rothschilds had succeeded triumphantly in establishing themselves as the leading specialists in european the system they developed enabled british investors and other rich capitalists in western europe to invest in the debts of those states by purchasing internationally tradeable fixed interest friends for a bull bo the significance of this system for nineteenth century history cannot be overemphasized for this growing international bond market brought together europe's true capitalists better lead to people wealthy enough to be able to tie up money in such shrewd enough to appreciate the advantages of such asset says compared with traditional forms of holding well land being a lot less and so on bonds more liquid they could be bought and sold five and a half days of seven on the major bourses of europe been traded informally at other times and in other places and they were capable of accruing large capital gains if investors bid up the price of a government stock that government could feel secure if they dumped that stock that government was quite possibly living on borrowed time as well as money for this reason bond prices had a significance which historians have to seldom spelt out they were it might be said the kind of daily opinion polls an expression of confidence in a given regime of course they were an opinion poll based on a highly and representative sample by modern democratic standards only the wealthy the capitalists got the vote these capitalists with us to a large extent europe's political class indeed the kind of people who held government bonds were very roughly speaking the people who were represented politically and their opinions were the opinions that mattered in a stratified and democratic society the singular beauty of the bond market was that virtually every state including as the century of bands all the new nation states and colonies sooner or later to come to and most states had sizable amounts of tradeable death in circulation the varying fortunes of government bonds provided by the insight into the political history of the period they are also the key to understanding the extent of the power of a bank like rothschilds which for much of the nineteenth century was the prime market maker for such bonds what determine the ups and downs of the nineteenth century bond market the answer to this question is central to any understanding of the history of the rothschilds bank obviously economic factors played an important part but the most important factor was political confidence the confidence of investors and especially a big market making investors like the rothschilds in the ability of the bond issue in states to continue to meet their obligations that is to pay the interest on their bo there were only really two things which might cause them not to do so war which would increase their expenditures and decrease their tax revenues and internal instability ranging from a change of ministry to full blown revolution it was for indications of either of these possible crises but the markets and the rothschilds more than anybody watched three things would give an investor an edge over his rival closeness to the center of political life the source of new news the speed with which he could receive news of events in states far and near and the ability to manipulate the transmission of that news to other investors this explains why the ro childs spent so much time energy and money maintaining the best possible relations with the leading political figures of the day it also explains why they carefully developed a network of salaried agents in other key financial markets whose job it was not only to trade on their behalf but also to keep them supplied with the latest financial and political news the rough child's communications network gave them an important advantage over their competitors even after they lost th age they continued to exercise an influence over the financial press through which news reached a wider public indeed it can be argued that by modifying the existing system for government borrowing to make bonds more easily tradable the rothschilds actually created the international bond market in its modern form as early as august eighteenth twenty the bremen delegate to the german confederations diet in frankfurt had a conversation with his austrian counterpart count de boer which acutely identified the unrivaled extent of the rothschilds political influence in europe this house has through its enormous financial transactions and its banking and credit connections actually achieve the position of a real power it has just such an extent acquired control of the general money market it isn't a position either to hinder or to promote as it feels inclined the movements and operations  greatest european power in fact the rest of the nineteenth century was known as the age of the rothschilds they financed cecil rhodes making it possible for him to establish a monopoly over the diamond and gold fields of south africa in america they financed the heroine's and railroads the vanderbilt's and railroads in the press and carnegie in the steel industry among many others by eight hundred fifty james rothschild the heir of the french branch of the family was said to be worth six hundred million french francs one hundred fifty million more than all the other bankers in france put together and built this mansion called just east of paris vilhelm the first on scene it exclaimed kings couldn't afford this it could only belong to a roth john another nineteenth century french commentator put it this way there is but one power in europe and that is rothschild by the end of the nineteenth century one expert estimated that the rothschild family controlled half the wealth of the world despite this overwhelming well the family has generally  baby and all of the visibility although the family controls scores of industrial commercial mining and tourist corporations only a handful bare of the rothschild there is no evidence that their predominant standing and european or world finance has changed five million pounds after dark for the international bank for reconstruction and development usually known as the world bank had to be shared with others to see how to the old rothschild predominance in the south african gold market had job memorial group contributed one million dollars to the bites man scientific institute in tel aviv gave three million dollars toward the construction of the knesset and the bill for many of israel's archaeological expedition number of japanese companies including hitachi and pioneer the logical way of advancing financial integration with the continent was to establish some kind of cross channel institutional link the creation of last child continuation holdings agency as the swiss based parent company was in this sense presidents with historical significance to recreate something like the system of international partnership which had been the