New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-25
branch Of the Rothschlds, in charge Of Joseph

branch of the Rothschilds, in charge Of Joseph
Rothschild.
Mr. Belmont was ordered to stay in New-York
and straighten out the affairs Of the branch house
1t was while he doing this that he made up
his mind to leave the employment Of the Roths-
childs and start out for himself. He rented
small Office in Wall-st., and the sign August
Belmont, Banker" was displayed for the hrst
time. He had some capital, an abundance OIL
energy and push, large amount OF experience
for one of his age and the name of the kothschios
at his back Never for one moment did nc DOUBT
that he would be successful. His banking ousi-
ness prospered and he began to make money
rapidly.
Then he started in to alter the customs OF those
with whom he mixed in society ms was an
arduous task for him. The manners oil 'he
Old World were not looked upon with great favor
in those days by the leaders In the Iashiohapie
circles of New-York, and for long Time MT
Belmont had an uphill struggle TO bring people
around to his way of thinking. An oid irleho OF
his said yesterday that August Beimont anu haiii-
ton Fish had the first properly appointed
aor,est;c esta Adjustments in this city. Mr.. Belmont
finally succeeded in these efforts, as he had sue
ceeded in his banking ventures, in both
Of which he had constantly the oppo-
sit;on of adverse influences 10 remark
ab,e degree. New-York society soon began to
dine a. he dined, to drive the styles of teams
that he drove. TO entertain as he entertained
and 10 dress In measure as he thought correct
QUICK TO BECOME A CITIZEN.
A soon az he could Mr.. Belmont became
sit;.,n Of this State. lie did not think 1t light
,r iuut for q man to carry on a business In ana
receive benefits and advantages from country
without sharing in it's government. AS soon az ne
had a riqht TO vote he took an active part III
politics. and united with the Democratic party
OF which he has always been prominent al"
consistent member. While he was still aiming az
social leadership, he was appointed Consui-uener"i
10 this city by the Austrian Government. nc
was then only twenty-seven years old. anu "'e
commitment aided him materially In MS soci'i
ambitions.
lie took as active an interest In De''ocia"1
poitics as be did in finance and In society," Gnu
soon became a leader in that party Nv
rapid was his rise that either pecau~ sum,
a, the enyious leaders of the party wanted
to get rid of him, or because other Ieaaers "o'n.
TO honor him more, he was appointed by PRESIDENT
pierce in 1853 Minister to The Hague. lie ac-
eepted the appointment and remained abroad until
the Democratic party went out of power; WINE
he was at The Hague he did much valuable WORK
for his Government such as inducing the GoVern-
uent of Holland to open mp its cities TO TINS couh-
try and allow the establishment OF American ooh-
sulate; in them. For this work ne received ohe
thanks of the State Department. Upon MS re-
turn to this country Mr.. Belmont who was then
rich man, returned again to his banking business
with renewed energy He brought back with
him many valuable paintings, some Of when
now hang in his art gallery at his flitii-aVe.
home.
PROMINENT IN POLITICS.
Soon after this, too, he sprang into greater
prominence in the Democratic party. In lS0o nc
fsvored the nomination of Stephen A. Douglas as
the Democratic candidate for President he OPP
posed the Rebellion with all his might, and his
tongue and pen were engaged in the effort TO- pre-
vent the Civil War. His letters to Southern
leaders, pointing out them the folly OF engaging
in contest the results of which he pointed out
long before the first gun was hrcd are sun AZ, IN
vising against the war; anu he spoke OFTEN III tne
same tenor. lie was loyal Union man, and he
the field, and at its head was carried the nag
which he had given to it on May Is, 1861.
During the war he was in CONSTANT correspond
enco with English and French statesmen, TO wnom
he pointed out in clear and unnisteiuble language
the financial weakness Of the South and the great
financial strength Of the North. =, he opposed vlg-
eracy as Government by these countries Through
out the war he was in constant communication
with the be SaS Se OF 'i e R country for
years, and he of course was familiar with the
financial news of all the countries of Europe lie
thus obtained much important information, which
me sent to Secretary Seward. This information
was of great value to the Secretary Of State at
that time Mr. Belmont opposed the reelection
election of General Mcclellan. He was a liberal
contributor to election expenses, and gave many
large sums Of money to aid the Democratic party.
In the following Presidential campaign MIR. Bel
fnou
the Democratic National Committee. He was
hard fighter but he never came In contact with the
rank and file Of the party. He was willing to
lead and direct the battle but he did not care 70 as
,sociate with the masses of voters. trihing
Disagreement with Samms, o. ld,de d1e MADE e, MN Nh
Til6en's political ambitions throughout
In. 1872 he foresaw the nomination OF Horace
:. ~ the M1 He
YVES a great admirer of Thomas Bayard and MIR
Baysrd was his choice for the Democratic nonli-
Tiiden He was among the 'Tammany Hall men
who signed at the convention circular declaring
that Mr. Tlden oould not carry New-York state
Since that campaign MI. belmont mas not TAKEN
an active part in politics.
His last public office was in Mayor GRANTS kapin
Transit Commission. upon which lie served unu ~
Il legally went out of existence. During the last
local campaign he appeared once or twice upon
the platforms at Tammany Hall meetings.
HIS LIFE IN WALL STREET.
Mr.. Belmont was possessed Of quick temper
and an afYectionate disposition. He scolded his
sons with great impartiality, bat before they were
of age they had learned that his outbursts OF
wrath were followed by acts Of great kindness
In his family and at his banking office he was
strict disciplinarian. In Wall Street he WAS not
particularly popular, but his business ability was
everywhere recognized After business hours he
liked good dinner with few glasses Of wine, and
nearly every night he was ready for rubber of
whist at the Union Club. For many years he had
rarely been In bed before midnight and il is
probable that he Over-estimated his strength.
HIS death was without effect in Wall Street.
for it was instantly understood That he bad no
active interest in the stock market. Mr.. Belmont
was never O speculator in stocks. He was often n
large holder of railway and corporate securities,
hut in many instances II was because they had
fallen into his hands by practical foreclosure.
lie largely interested at one time in Georgia
Central and in Northern Pacific but it is under
stood that his interest in both properties ac-
quired in this way