Smithers & Co. waited for a few months, and then suddenly retorted with
terrific force. The obligations of the Rothschilds were obtained from
all quarters--some which were due were held over and not presented
till the appointed day. Obligations in many forms--in all the forms
of indebtedness that may arise in a vast business--all these had been
collected from various quarters with untiring industry and extraordinary
outlay of care and money. At last in one day they were all poured upon
the Rothschilds. Nearly four millions of money were required to meet
that demand.
The great house of Rothschild reeled under the blow. Smithers & Co. were
the ones who administered it. James Rothschild had a private interview
with the Directors of the Bank of England. There was a sudden and
enormous sale of securities that day on Change. In selling out
such large amounts the loss was enormous. It was difficult to find
purchasers, but Smithers & Co. stepped forward and bought nearly all
that was offered. The Rothschilds saved themselves, of course, but at a
terrible loss, which became the profits of Smithers & Co.
The Rothschilds retreated from the conflict utterly routed, and glad to
escape disaster of a worse kind. Smithers & Co. came forth victorious.
They had beaten the Rothschilds at their own game, and had made at
least half a million. All London rang with the story. It was a bitter
humiliation for that proud Jewish house which for years had never met
with a rival. Yet there was no help, nor was there the slightest chance
of revenge. They were forced to swallow the result as best they could,
and to try to regain what they had lost.
After this the pale and melancholy face of Henderson excited a deeper
interest. This was the man who had beaten the Rothschilds--the strongest
capitalist in the world. In his financial operations he continued as
calm, as grave, and as immovable as ever. He would risk millions
without moving a muscle of his countenance. Yet so sagacious was he, so
wide-spread were his agencies, so accurate was his secret information,
that his plans scarcely ever failed. His capital was so vast that it
often gave him control of the market. Coming into the field untrammeled
as the older houses were, he had a larger control of money than any of
them, and far greater freedom of action.