The Law of Civilization and Decay: An Essay on HistoryAdams, Brooks
Philosophy
The Law of Civilization and Decay: An Essay on History
Adams, Brooks
Civilization -- History; Degeneration; History -- Philosophy
Mayer had five sons, to whom he left his business and his wealth. In
1812 he died, and, as he lay upon his death-bed, his last words were,
“You will soon be rich among the richest, and the world will belong
to you.”[343] His prophecy came true. These five sons conceived and
executed an original and daring scheme. While the eldest remained at
Frankfort, and conducted the parent house, the four others migrated to
four different capitals, Naples, Vienna, Paris, and London, and, acting
continually in consort, they succeeded in obtaining a control over
the money market of Europe, as unprecedented as it was lucrative to
themselves.
Of the five brothers, the third, Nathan, had commanding ability. In
1798 he settled in London, married in 1806 the daughter of one of the
wealthiest of the English Jews, and by 1815 had become the despot of
the Stock Exchange; “peers and princes of the blood sat at his table,
clergymen and laymen bowed before him.” He had no tastes, either
literary, social, or artistic; “in his manners and address he seemed
to delight in displaying his thorough disregard of all the courtesies
and amenities of civilized life”; and when asked about the future
of his children he said, “I wish them to give mind, soul, and heart,
and body--everything to business. That is the way to be happy.”[344]
Extremely ostentatious, though without delicacy or appreciation,
“his mansions were crowded with works of art, and the most gorgeous
appointments.” His benevolence was capricious; to quote his own words,
“Sometimes to amuse myself I give a beggar a guinea. He thinks it is
a mistake, and for fear I shall find it out off he runs as hard as
he can. I advise you to give a beggar a guinea sometimes. It is very
amusing.”[345]
Though an astonishingly bold and unscrupulous speculator, Nathan
probably won his chief successes by skill in lending, and, in this
branch of financiering, he was favoured by the times in which he lived.
During the long wars Europe plunged into debt, contracting loans in
depreciated paper, or in coin which was unprecedentedly cheap because
of the abundance of the precious metals.
Public-domain text, read in full here on John Shaqi.
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