The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-11-19
UP- TOWN sKETCHEs
August belmont.

From time 10 Time every country llrbuucoo
one or two individualitcs which. without taking
direct part in public life. exercise remarkable
influence ON public Affairs. Occasionally such
Municipalities happen to b, women. Their
name il then Mime Krndncr. Nine. Hd,amicr.
or Lady Holland. In monarchies. phenomena
Of this kind are comparatively frequent IN
intelligent unsclilsh and honest person. grim
ing the personal friendship Of the sovereign. il
| sufficient for the role We speak of. All that "a
Marquis of pcsa had to do to secure his iniu-
! cncc was to- remain at court the same upright
and frank man he was in private life.
| In republics tho case il different. man here
| must run for something. If he wants to become
something. H. must be constantly busy ASSERT
ing himself before the masses. He has to per-
suadc them in some way or other. that he is an
| ADLER and better man than others whom thcy
could possibly pick out from among themselves.
| He must be- either clever fraud or an un-
wavcring fighter Of stupidity. Ignorance, and
prejudice.
when young Belmont came TO this country
some forty years ago he had probably no in
tcnton Of eyer running for any public position
in the United States He started from Europe
IA a representative " the Rothsrhilds en- route
for Havana. whore that firm had immense in
tcrcsts involved in connection with the Carlist
war raging ut TINT time on the lbcrlan Penin
sula. The Government of Christina was con-
siantly drawing for money upon the Pearl of
the Antilles. and the Rotlschilds who were TAX
ing up their drafts. wanted some trustworthy
person 10 be on the spot see into these matters
While young Belmont. who had been selected
for this important mission. WIS at sea. the panic
of 1887 occurred in New York. and several Of
thu houses connected with the Rothschilds in
Guiding that Of Joseph. failed. and the intended
Havana representative had to remain In this
city to look after the ieoparded interests of the
nrm He sub-rentcd Il small ofllcc from Mr..
Gerard in Wall street. and started the firm Of
August Belmont when barely q years old. He
already had considerable business experience.
n boundless ambition. and the name Of the
l,uths .hilds to buck him. He felt from the very
beginning that his success WIS assured But that
WIS not enough for him. After Naples. Frank
fort London. and Paris. New York seemed dull
and dreary to him. He was seized with an ire
sistible desire to iniuse fresh life into the En-
pirc City. and found himself in few years run
ming for the leadership of New York society
The struggle was hard one European ways
and manners were then considered the nee plus
ultra OF improperly. To wear moustache
was cqualto putting an everlasting stigma upon
ones reputation. To drive down town in II TIL
bury or n tandem was never heard Of. and when
the young banker first appeared in this kind of
cauipage on Broadway. the shocked business
community was unanimous in declaring that
bankruptcy or the devil were the only two pos
sible places he was driving at
Belmont was far from being gricved by such
comments. He rather enjoyed them. continued
To live In the most fashionable European style
and TO sell exchange at as high n rate HI any of
= the old-estahlshed bankers. As he was selling
his bills ON the Rothschilds. he preserved pres
tge. against which the luminosity and rivalry
| Of the other bankers was powcrless.
One day. the Bank OF Maryland had drawn
e bills on the Rothschilds on II credit opened b,
1 Belmont. Tho bills were sent to London. and
T returned without being accepted The New
| York banking community was delighted: but
their JOY WAS no, Of long duration. Belmon
declared that there must have been misunder
standing. for which the London house OF Roths
= chlds would have to pay damages. lie woul,
, make IT a point that it should be- so. And 80 h'
did. BY the next return mail the drafts were
paid. with something like fifteen per cent. in
drmnity.
II now became the conviction OF all busincs
Y men that young fellow who could make tn
n Roth-childs pay damages. and drive dowi
c town IN tlhury AZ that. must boz II very stron.
l. and a clever man. The influence and credit a.
e August Belmont wore accordingly establlshe
e ou the firm II possible basis.
n The connection Of Belmont with the l,oth@
c ahilds dates much further back than is gnn
orally supposed. lie entered the Frankiol
hinking house OF that firm 1T the enrly neo
fourteen. All the stories about Bemont's nam
h'ing Freu'hil'd adaptation Of tho Germa
: .honhcrg are fancy work. His father Dor
the same name Of Belmont and died hut siNter
years ago at the family scat near Worms. whrr
~ hr own"da considerable landed property. TIL
name still remains we'll known throughout III
j. Paluinatr. or Hcssinn Rhncland. In the b,
ginning OF the century that province wis a
- most entirely French in IT. ways and manner
and was for considc rubic period under lrcnc
rule
}" August Belmont was born in 1916 After
brief "A school curriculum rs boys destined +,
II business III" were then wont TO undergo. /
p. WAS sent TO Frankfort. lie had To begin his 81
y, r'cr there hy sweeping the office and max IN
~ himself generally useful. But the unusual ma
-, ural abilities uf the boy and the interest viii
-, the head of the firm took in the members Of III
- family soon opened hrillian, opportunities f
aim. lie became. in less than two years. one
Il the confidential clerks Of tho Frankfort hous
ia and M the early agc Of seventeen was sent ON
er special m ssion to Naples. The iothschil'
Ia then had large financial transactions both wi
II the Papnl and the Bourbon Governments. N
IN yaun-, b lmont was step los step intrusted wi
49, the management of these operations.
II Ihr -nlnurn ~ lulN WAS ol immense Nalu"
M, him. H. not only gained experience IN hna
In, rial nntt'rs. hut Obtained an insight into Eur
nm p'an politics. learned the Italian language al
IL. laid the foundation of that knowledge OF Il
a line arts Tor which he has since become
.- noted
Thus the early connection with the Roth
rhid- enabled Belmont. before he was 2l yen
", Of age, Ia become an excellent ilnancicr to u
Iuiro the full command of four languages.
" make the personal acquaintance Of ma
~, eminent mon Of his tmr and to bccul
~. po-s,-s'd of AN the accomplishments which
, brought to tear upon New York when he soul
" here in 1887. ono of these ACCOMPLISHMENT
~" however WIS home grown. aud that WAS hor.
y, man-hip. lie began To- ride and drive hor,
- ON MS fathers estate almost hofore he WAS All
e. walk The President OF the American jock
:" Club ought. therefore not 10 be- ca~scd amo
49, the dllcitlnti spurtsmcn. Of whom that iashi,
~ allie institution IS mainly composed.
1t could not have taken long fer man Of
ability nt tnstfu1 ts ,NIl ue mt iii. r.a,tt