The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1877-03-01
Nathan Rothschild and the Bank
of England.

OF England.
Somewhere near a score of years ago,
think, I read the story, then fresh. It
has been recalled to my mind by its
telling in my presence to an English
gentleman, who assured rs that he
could personally vouch for its truth, he
having had business with the old lady
of Threadneedle Street while the trans
action was in progress; and, from this
assurance Of an eyewitness, I deem the
thing worth repeating. l think ] re-
member it as it was told to me.
A bill of exchange, for a large amount,
was drawn by Anselm Rothschild, of
London. When the gentleman who
held it arrived in London, Nathan was
away, and he took the bit of paper to
the Bank of England, and asked them
there to discount it. Tne managers
were very stiff. With naughty assur-
ance they informed the holder that they
discounted only their own bills; they
wanted nothing to do with the bills of
''private persons" They did not stop
to reflect with whom they had to deal.
Those shrewd old fellows in charge of
the change of the realm should have
known and remembered that that bit of
paper bore the sign manual of man
more powerful than they-more pow
erful because independent of the thou
sand-and-One hampers that rested upon
them.
"Umph!" exclaimed Nathan Roths-
child, when the answer of the bank
was repeated to him. "Private per-
sons! | will give those important gen.
tlemen to know with what sort of pri.
vate persons they have to dealt"
And then Nathan Rothschld went at
work. He had an object in view-to
humble the Bank of England-and he
meant to do it. He sent agents upon
the Continent, and through the United
Kingdom, and three weeks were spent
in gathering up notes of the smaller de-
nominations of the banks own issue.
One morning, bright and early, Nathan
Rothschild presented himself at the
bank at the opening of the Teller's de-
partment, and drew from his pocket
book five pound note, which he desir-
ed to have cashed. Five sovereigns
were counted out to him, the officers
looking with astOnishment upon seeing
the Baron ROthSchild troubling himself
| personally about so trivial a matter.
The Baron examined the coins one by
one, and, having satisfied himself of
their honesty in quality and weight,
he slipped them into canvas bag, and
drew out and presented another five
pound note. The same operation was
gone through with again, save that this
time the Baron took the trouble to take
a small pair Of scales from his pocket
and weigh one of the pieces, for the law
gave him that right. Two-three-te
-twenty-a hundred-fve hundred
pound notes were presented and cash.
ed. When one pockeU-book had been
emptied another was brought forth
and when canvas bag had been filed
with gold it was passed to a servant
who was in waiting. And so he went
on until the hour arrived for closing
the bank; and at the same time he had
nine of the employees of the bank en-
gagged in the same work. So it result
ed that ten men of the house of Roths-
child had kept every Teller of the bank
busy seven hours, and had exchanged
somewhere about $4,000. Not another
customer had been able to get his wants
attended to.
The English like oddly. Let q man
do something original and piquant, and
they will applaud even though their
own flesh is pricked. So the people
contriged to smile at the eccentricity of
Baron Rothschild, and when the time
came for closing the bank, they were
not tenth part so much annoyed as
we're the customers from abroad, whose
business had not been attended to. The
bank officials smiled that evening but
On the following morning, when the
bank opened, Nathan Rothschild ap-
peared again, accompanied by his nine
faithful helpers, this time bringing with
him as far as the street entrance four
heavy two.horse drays, for the purpose
of earting away the gold, for to-day the
Baron had bills of larger denOmina-
ton All, the officers of the bank
smiled no more, and atrembling seized
them when the banker monarch said,
with stern simplicity and directness:
"Ah, these gentlemen refuse to take
my bills. Be it so. I am resolved that
will keep none of theirs. 1t is the
house of Rothschild against the Bank
of England"
The Bank of England opened its eyes
very wide. Within a week the house
of Rothschild could be demanding gold
which it did not possess. The gentle
men at the head of affairs saw very
plainly that in a determined tilt the
bank must go to the wall. There was
but one way out of the scrape, and they
took it. Notice was at once publicly
given that thenceforth the Bank of
England would cash the bills of Roths-
child as well as its ownl-Ercbange.