The House of Rothschild: Money's Prophets 1798-1848 [Hardcover]

Niall Ferguson (Author)

Book Description

Publication Date: November 1, 1998

The first historian with access to the long-lost Rothschild archive, bestselling author Niall Ferguson offers a myth-breaking in-depth portrait fo one of the most fascinating and powerful families in Europe. Hidden for nearly fifty yers in the KGB's special archive, the uncovered records cast new light on the banking family's rise to preeminence. With the help of Hebrew scholar Mordecai Zucker, The House of Rothschild also reflects the first major translation of important and revealing intra-family correspondence in the Judendeutch dialect. In a vast undertaking, Ferguson has synthesized material from over 20 different archives and 20,000 letters, as well as other historical sources, and produced an exceptional--and readable history. Ferguson follows the founders' five sons in their rise to power as pioneers of modern business communication, creators of the international bond market, and the financial force behind many political events of the time. A family saga as well, Ferguson reveals the true nature of the family's relations with one another and with most of the important politicians and monarchs of the time, as well as their profound connection to the Jewish community. A major book, The House of Rothschild is the definitive account of one of the most important firms--and one of the most exceptional families--in modern history.

Editorial Reviews

From Publishers Weekly

Anyone interested in finance, European history or the rise of one spectacularly successful Jewish family will find the first volume of this history of the Rothschilds spellbinding. Equipped with unprecedented access to pre-1915 Rothschild archives, Oxford historian Ferguson begins the family history with Frankfurt merchant Mayer Amschel, but the real story starts with the arrival of the most capable of his sons, Nathan Mayer, in England 200 years ago. Each of Mayer's five sons was located in different cities?Paris, London, Vienna, Naples and Frankfurt. Combined with a mandated unity that kept the brothers remarkably close while excluding daughters, in-laws and strangers, this geographic dispersal gave the family's financial firm an unbeatable edge, despite Mayer's sons being of unequal competence. N.M. Rothschild is the one Ferguson chooses as his protagonist (his great-great-grandson suggested the project to the author). It was largely because of this Finanzbonaparte that from 1815 on, the Rothschilds were everywhere part of Europe?they dominated the international bond market; bought and sold commodities such as cotton, tobacco, sugar, copper and mercury; and influenced Metternich, Wellington, Queen Victoria, Bismarck, Gladstone and Disraeli. Using his access to the 13,000 entries in the Rothschild files, Ferguson debunks myths and carefully reconstructs the truth. Not only has he done a brilliant job of depicting this far-flung family but he also manages to offer an amazing insider's look at the financial, political and military aspects of early 19th-century European life. His exhaustive study surpasses anything about the Rothschilds to date. (Nov.) FYI: Ferguson's second volume on the Rothschilds is due out next year.
Copyright 1998 Reed Business Information, Inc.

From Booklist

A British historian and political commentator, Ferguson is author of Paper and Iron: Hamburg Business and German Politics in the Era of Inflation 1897^-1927 (1995). He also edited and contributed to Virtual History: Alternatives and Counterfactuals (1997), a book that argues that the exploration of alternative outcomes to historical events is a legitimate form of scholarly inquiry. Here he returns to "historical reality" to trace the rise of the Rothschild financial empire. More than a dozen books have profiled the Rothschilds; but with the family's five branches and its vast wealth, power, and influence, there is much to chronicle. Each successive biographer has been granted access to more newly available family records, but Ferguson claims unprecedented and unrestricted access to all the surviving historical family and corporate documents. Included in the trove are more than 20,000 letters in four languages and 20 separate archives. Ferguson also enjoyed the cooperation of various of the Rothschilds who had opportunity to comment on his early manuscripts. So prodigious is Ferguson's definitive effort, it will require a second volume, expected next fall. David Rouse

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Product Details

• Hardcover: 688 pages
• Publisher: Viking Adult (November 1, 1998)
• Language: English
• ISBN-10: 0670857688
• ISBN-13: 978-0670857685
• Product Dimensions: 9.5 x 6.5 x 1.5 inches
• Shipping Weight: 2.6 pounds
• Average Customer Review: 4.3 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #859,654 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

22 of 23 people found the following review helpful:

4.0 out of 5 stars A first-rate history, if a bit thin on the finance, December 28, 1998

By A Customer

This review is from: The House of Rothschild: Money's Prophets 1798-1848 (Hardcover)

Ferguson has written a rare work: a family chronicle which is both a compelling read, and is good history. The text is richly detailed, while the very complete footnotes provide the reader with a clear sense of the broad scholarship that has gone into the book. One caveat: while Ferguson points out in his introduction that the work is not a financial history, he unfortunately doesn't paint as rich a picture of the financial markets of the early 19th century as the book requires. While the house's trading history makes for a fascinating read, it takes place without any contextual comparison of how other market makers behaved and traded (other than an occasional comparison of profits and losses). Still, though, it's a minor criticism of a great book. Highly recommended.

13 of 15 people found the following review helpful:

5.0 out of 5 stars Engaging and enlightening, January 15, 2003

By 

dean_from_sa (Plano,TX) - See all my reviews

This review is from: The House of Rothschild: Money's Prophets 1798-1848 (Hardcover)

The House of Rothschild 1798-1848 covers a pivotal time in history. The Napoleonic Wars, rise of capitalism, the rise of multinational businesses, development of the railroad and the French Revolution. The Rothschild's had a front row seat to all of this and were the focus of some of it. From humble beginnings in the Frankfurt Jewish Ghetto, the rise of this family is chronicled through three generations. Many myths about the Rothschilds are laid to rest by Ferguson's groundbreaking research, much of it original scholarship. One of the main threads running through the book is that finance had a profound role in the ability of the rulers of Europe to do what they wanted. By 1825 the Rothschild had a significant role in sovereign finance. Many things were wished for by the various despots that ruled Europe at that time, but if the Rothschilds did not perceive that those wishes would lead to stabilization and peace it typically was not supported thereby making it difficult to realize. They did not support the despots with out reserve, but they knew that peace protected their interests. That perspective makes this book unique.
The Rothschild family business was a partnership that was constructed as the 2nd generation left Frankfurt for London, Paris, Vienna, and Naples. That the partnership should survive was the 1st generation's greatest desire and was respected (most of the time) by his descendants. The exchanges between the 5 houses make for fascinating reading and are reference extensively in the book.
The book details how the Rothschilds pushed for Jewish emancipation and equality and were resisted at every turn. That did not prevent them from receiving commendations from the various governments that the worked with. It did not prevent them from gaining entry to the most prestigious universities for their children. It did not prevent Lionel from gaining entry into the British Parliament without having to swear a Christian Oath. The Rothschilds achieved a great deal for themselves and for Judaism.
Intrigue, betrayal, revolution, and vignettes of famous people make this a very entertaining book, not merely a historic rendering of dates and places. From the beginning of the Rothschild climb to prominence with the Elector of Hesse-Kassel to the French Revolution in 1848, this book will engage the reader.

11 of 13 people found the following review helpful:

5.0 out of 5 stars Myth-breaker, July 25, 1999

By 

Melvin Sico "melvinsico" (Singapore) - See all my reviews

This review is from: The House of Rothschild: Money's Prophets 1798-1848 (Hardcover)

Ferguson's book is really stunning, especially when viewed against the family's mythology. In Frederic Morton's The Rothschilds, for instance, we read that Nathan Rothschild, founder of the London branch, made his fortune by selling down British consols and then scooping then up at fire-sale prices. This was reportedly initiated when Nathan learned of Napoleon's final defeat at Waterloo. But in The House of Rothschild, we learn that Waterloo posed more difficulties than opportunities for the family. This book is definitely a must-buy for those interested in financial history.