The House of Rothschild: Money's Prophets, 1798-1848

See Larger Image	Manufacturer: Penguin Books Ltd Written By: Niall Ferguson Average Customer Rating:


Binding: Paperback EAN: 9780140289077 ISBN: 0140289070 Label: Penguin Books Ltd Manufacturer: Penguin Books Ltd Number Of Pages: 544 Publication Date: 2000-05-25 Publisher: Penguin Books Ltd Studio: Penguin Books Ltd
Related Items The House of Rothschild: Volume 2: The World's Banker: 1849-1999 The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance The Warburgs: The Twentieth-Century Odyssey of a Remarkable Jewish Family The Ascent of Money: A Financial History of the World The Cash Nexus: Economics And Politics From The Age Of Warfare Through The Age Of Welfare, 1700-2000
Editorial Reviews: Ever since the house of Rothschild first rose to pre-eminence in the turbulent era of the Napoleonic wars, mythology has surrounded the family and its firms. Conservative aristocrats, radical democrats, socialists from Marx onwards, anti-semites from Wagner to Hitler - all have reserved a special place in their critiques of modern capitalism for the Rothschilds. They have been portrayed as the power behind not just one throne but many. They have been charged with financing revolutions and counter-revolutions. They have been seen as the final arbiters of war and peace in Europe. This book is the first of two volumes presenting a history of the house of Rothschild that reveals the phenomenal economic success of this secretive family.
Spotlight customer reviews: Customer Rating: Summary: THE PHANTOM ROTHSCHILDS Comment: What has Ferguson not told about the Rothschilds in his seemingly exhaustive two volume set? He all too facilely dismisses Victor Rothschild's being the fifth man in the World War II Soviet spy ring of Blunt, Burgess, et. al. He does not bring up the 1776 Masonic Illuminati order of Adam Weishaupt with alleged connections to Mayer Amschel. And he dosen't discuss the Rothschilds' connection with Freemasonry at the highest level, and their gift to Israel of the Supreme Court building, a New World Order artifact, heavily laden architecturally with Freemasonry symbolism. Likewise, glaringly absent from note are 19th, 20th, and 21st century Illuminati activities, which the family has been widely thought to be involved with. History Professor Ferguson could fill in his blanks on some vital but shady Rothschild history from Henry Makow, a researcher and writer--and a Jew. According to an article on Ferguson in Harvard Magazine (May/June '07), he is about to take on biographical writing of Henry Kissinger, at Kissinger's request. This should generate caution. Could Kissinger's "papers" be entirely relied on? Kissinger probably saw what sheen Ferguson could put on the Rothschild's archives as raw material, ignoring or minimising important but dark concerns. Same question on the Warburg's family papers that he is availing himself of. What will Ferguson tell us about Paul Warburg's role in establishing the egregious Federal Reserve, and Max Warburg financing the Bolshevik revolution? Let's hope that Ferguson can either put this and other allegations to rest once and for all or illuminate them if true--but now that he's shown his colors with the Rothschilds, I doubt that he will, either way. It seems that sympathetic academic interest in these elitist families and individuals is inevitable in part because that is where the big bucks for research and publishing would be, especially for a scholar who professes to have, as he says in the Harvard Magazine article, "become a thorough philo-Semite". Is there a whiff of opportunism here at the expense of objectivity? Customer Rating: Summary: The author must be an anti-Semite Comment: the book had some good pictures, however prof Ferguson not once, but on numerous occasions, claims to refute the story of how Nathan brilliantly deceived the London Stock Exchange players after the battle of Waterloo, earning $40 billion (2007 prices) in one day. A bit jealous I suppose. Verdict: Ignore the anti-semitic propaganda and the book is worth a look. Customer Rating: Summary: Great book by Ferguson on monied surrupticious Euro family... Comment: [Also see: Fritz Springmeier's Bloodlines of the Illuminati]. Ferguson, who teaches at a Northea- stern University in the US, did yeoman work here on at least defusing some of conspiracy talk about how fools like Bernard Piper-Collins claim Roths- childs alledgedly control ALL things.The Rothschilds never ran the bank of England, the gentile Baring Bros. did. They are however a very corrupt family. Author Ferguson did excellent work here. Customer Rating: Summary: A little too detailed Comment: I have to start out by saying overall I enjoyed the book but I would only rate it as an average book. It is a little too detailed and didn't keep my interest from one chapter to the next. It would have been better if it left out 150 pages or so. I found myself doing a lot of skiming over what I would say was boring filler in the book. You can learn a lot about the type of business that that Rothschilds were in but not a lot of how they went about doing it. After reading this it seems that the Rothschilds were in the business of making large loans to governments and then packaging these loans as bonds and selling them to the public. They were as much bond and commodity traders as they were bankers, which I found interesting. There are numerous quotes from letters written back and forth between family members that will give you a sense of their personalities. The family history is very detailed so if this is the kind of thing you are interested in then you will probably enjoy the book more then I did. Customer Rating: Summary: Much more than a family saga Comment: Those who already know Niall Ferguson do not need any praise for the books he writes: a few years ago I chanced to read his excellent "The Cash Nexus" and this led me to "The Pity of War" and finally to "The House of Rothschild". Ferguson is a scholar who loves challenges: not just challenging arguments, but also challenges in the sheer volume of sources and research, and finally challenges to the reader in presenting controversial theses (I think specially of those advanced brilliantly, and contentiously, in "The Pity of War" - see my review if interested). This last effort is mainly an attempt to unveil the Rothschild mythology, restoring an historically accurate perspective both of the family saga and of the banking and financial European history from 1798 to 1848. The book is a masterpiece for many reasons: not just story of a family (circumscribed to the male members), not just story of a great banking institution in the past two centuries, but also comprehensive financial history of the first half of XIX century... "a rich and nuanced portrait" as the book leaflet reads - that reveals and hides, but also creates an appealing and fascinated image of those turbulent years. So, it can appeal the history buff, and all those readers interested in financial history (and speculative bubbles) as well as those interested in biography and cultural history. The essay definitely has also - obviously maybe - a literary dimension: because in describing the five brothers Ferguson uses those same "colors" used by contemporaries, a literary dimension that cannot but appeal and enrich the more serious economic investigation: for Nathan the "meteoric" larger than life Napoleon-like image (passion for risk, high stakes on the table and the ruthlessness of a general), for James that richly colored literary portrait (full of mid-tones) we have been used by writers like Balzac, Zola and Stendhal (the mix of secretiveness and candid frankness, detachment and savoir vivre), for the others three brothers the age-old mythologies of Midas and the wandering Jew (specially in the portrait of the German and Austrian branch: they seem consciously prisoners of the Jewish stereotype in their inability to enjoy life and relax). Every reader interested in the story of the House of Rothschild want to know the why and how a middle class Jewish family confined in the Frankfurt ghetto was able in just one generation to become the richest family in the world. Ferguson's study is very good in the pars destruens, that is in taking down and unveiling the old mythologies (like the Waterloo myth, or the Hesse Kassel myth), less good in the pars construens that is substituting a coherent explanation. The surviving accounts are of course too tiny to cast light, and the accounting techniques used by the family in the early days too backward to be critically useful. So the impression is that of an unending race over speed limits, a sheer willingness to accept often uncalculated risks and to play for the highest stakes and at the same time an impressive luck (or God's favor) that stuck contemporaries (always expecting the meteoric rise of Nathan to end like the parallel story of Napoleon). So was their preeminence produced only by chance? Yes and no. Chance - according to Ferguson - played a striking role in the early stages - the building up, but consolidation and enlargement were due to specific attitudes of the family: solidarity between brothers, their informative network, their ability in cultivating diplomacy and - not least - to the fact that the family systematically reinvested in the business about 96percent of the net income produced (unlike - say - the Barings brothers, that in 1816 had almost the same size) The book will be also hugely helpful to readers interested in European history, casting a different - unusual to most readers - light in the inner mechanism of the early XIX century European politics. As for the nature of the Restoration, often liquidated by historians as a narrow and backward attempt to turn back the clock to pre-revolutionary times, Ferguson shows how different in reality was this period from the Ancien Regime and how the seeds of modernity were well present and working: the sheer preference of the banking institution for financing representative-backed monarchies, the consolidation in Jewish emancipation all over Europe, but also the frailty of arch-conservative governments (not just the case of Spain, but also of the Holy Alliance) compared to more pragmatic approaches. A rather under-developed theme is the rise of modern anti-Semitism: Ferguson - unlike most scholars - indicates the first traces in France well before the Affaire Dreyfus and hints how the irresistible rise of the Rothschild family (with their devotion to Judaism) was very instrumental in consolidating anti-Jewish mythologies (out of a sense of envy but also perceived in France especially as a alien "evil" power). As a reader interested also in financial themes, I was truly fascinated by those chapters dedicated to the bond and stock markets, particularly those regarding the default of Spanish and Portuguese consols. The Rothschild were the first bankers to export the financial facilities, long enjoyed in Great Britain, to Continental Europe and were decisive in creating a retail market for bonds and stocks. But the most interesting part is the one dealing with financial speculation, bubbles and defaults. Most remarkable is the feeling of a déjà vue: if you substitute Spain and Portugal with Argentina, you will observe striking similarities both in price, negotiations and very likely in the final outcome. Nihil sub sole novi, or at least it seems so. This is a book I greatly enjoyed. I cannot but recommend it to every reader interested in serious history. That is not to say that it is perfect: I was - as many other reviewers - incensed by the lack of bibliography (shame on Penguin), but on the average it is an outstanding achievement. Likewise, if you happen to be interested in the argument, you may be interested in other works I chanced to read about the same themes: - Muhlstein, Anhka - "James de Rothschild", this is a book I read long time ago, but it was more a biography in the classical way and as far as I remember, I found it rather inconsequential - Chancellor, Edward - "The Devil Takes the Hindmost" - a colorful and well-informed essay focusing specially on the XIX century. There are chapters dedicated to defaulting bonds in the XIX century as well as to the railway stocks bubble in the United Kingdom. - Conor Cruise O'Brien - "The Siege: The Saga of Israel and Zionism". I have many works dedicated to Sionism and Judaism, but this is the most concise and clear exposition of the birth of anti-Semitism in Western Europe in late XIX century. You are most welcome if you can suggest other readings or just share ideas and comments! Thanks for reading. More Reviews