17.05.2015 Views

coleman-the-rothschild-dynasty

coleman-the-rothschild-dynasty

coleman-the-rothschild-dynasty

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

8 Dr. John Coleman<br />

his fa<strong>the</strong>r's death inherited <strong>the</strong> largest private fortune in<br />

Europe (estimated at $40,000,000) derived mainly from<br />

<strong>the</strong> hire of troops to <strong>the</strong> British Government for putting<br />

down <strong>the</strong> revolution in <strong>the</strong> United States.. .<br />

After <strong>the</strong> battle in June 1806 <strong>the</strong> Landgrave fled to<br />

Denmark, leaving 600,000 pounds (about $3,000,000)<br />

with Mayer Rothschild for safekeeping. According to<br />

legend, this money was hidden away in wine casks, and<br />

escaped <strong>the</strong> search of Napoleon's soldiers when <strong>the</strong>y<br />

entered Frankfurt, was restored intact to <strong>the</strong> electorate.<br />

The facts are less romantic and more business-like.<br />

The papers I examined show that <strong>the</strong> "Elector," as he<br />

became known was none too scrupulous himself as to <strong>the</strong> origin<br />

of money that flowed into his coffers. Hessian mercenaries were<br />

his stock-in-trade, hired to those who had <strong>the</strong> most money to pay<br />

for <strong>the</strong>m.<br />

The Hessians had developed <strong>the</strong>ir contract with <strong>the</strong> ruler,<br />

which made it clear that <strong>the</strong> Prince would receive a large down<br />

payment at <strong>the</strong> start of military operations for which <strong>the</strong>y had<br />

been hired. Then, <strong>the</strong>re was to be a supplementary payment to <strong>the</strong><br />

soldiers, some extras for wounded and three times <strong>the</strong> amount if<br />

killed in battle. This was to go to <strong>the</strong> mercenaries or <strong>the</strong>ir<br />

dependants and not to <strong>the</strong> Prince. Moreover, <strong>the</strong> agreement-forhire<br />

did not expire when peace was declared, but only one full<br />

year after <strong>the</strong> peace and only when <strong>the</strong> mercenaries had returned<br />

home.<br />

The British Government was <strong>the</strong> biggest customer,<br />

"renting" about 15,000-17,000 Hessians each year. Although<br />

<strong>the</strong>re is no direct proof that Amschel and Budurus were <strong>the</strong><br />

authors of <strong>the</strong> following scheme, it seems very likely that <strong>the</strong>y<br />

were. Instead of <strong>the</strong> lump sum and payments being sent to Kassel,<br />

<strong>the</strong> home of <strong>the</strong> Prince, <strong>the</strong> money was retained in England<br />

where it was invested. The interest <strong>the</strong>reon

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!