Foreclosure Blog

Book Review: Rise of the House of Rothschild/Reign of the House of Rothschild

Over the past few weeks, I had been reading two books by the Italian Count Egon Caesar Corti on the world-famous Rothschild banking family. Now, before anyone thinks I have descended (even further) into conspiracies and off-the-wall reading materials, let me explain that these books are some of the most balanced accounts of the family that I have ever found.

In a word, the success of the family can be attributed not to devious, underhanded dealings and an opportunistic approach to business dealings, but to the family’s willingness to stick together, spread out profit and losses amongst the individual banking firms, and cultivate relationships with important political figures throughout history.

To achieve its place in history as a financial giant, the House of Rothschild, from its very beginnings, sought to make or participate in loans to the leaders of Europe in the late 18th century and throughout the 19th. Whether they were state loans or personal loans to individual members of royal families, the goal was to make profits for the family firm and strengthen these relationships with the elite of the time.

One aspect of the two-volume work of Corti that is appreciated is the fair manner in which he approaches the subject. The works are neither a propaganda piece (in fact, references are made again and again to the fact that the Rothschilds could and often did buy positive press in the newspapers of the day), nor is it a polemic against Jews in general or the Rothschilds specifically.

Of particular interest to me was the description of the House’s influence in financing the growth of the railroads in Europe in the 19th century. Part of the spread of the Industrial Revolution in England which resulted in railways and the steam engine were then brought to Austria through the banking firm.

While I do not feel competent enough to comment on the accuracy of the work or 18th century European history in general, I believe that these two books hold an important place in the genres of history, politics, and economics, while giving an important look into the giant banking family that has so influenced the course of modern history.

More important than what the family did was obviously how they did it. Much has been made over the years of the incredible communication system that the Rothschild family set up in order to keep in touch with each other and share information from across Europe. News was often shared by the family to the government and royals before it became known from any other source.

Regardless of what the family has done with its enormous wealth, one thing is certain to me from reading Corti’s books: the feeling of teamwork and a shared vision of the family over several generations is remarkable, and accounts for much of their success from the 18th century to today.

In fum: ingratiating oneself and one’s family to nearly every powerful figure in charge, relentlessly pursuing public and government honors, having a politically opportunistic view of business arrangements, going with the flow of history to seek profits in war and peace, buying off the press when it suits one’s needs, and a family all working together towards these goals; do this, and you, too, can become a powerful banking firm.