August Belmont

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August Belmont, Sr. (December 8, 1813 – November 24, 1890), was born in Alzey, Prussia to a Jewish family. He immigrated to New York City in 1837 after becoming the American representative of the Rothschild family's banking house in Frankfurt. On receiving his American citizenship, he married Caroline Slidell Perry, daughter of Commodore Matthew Calbraith Perry.

Contents 1 Early life 2 August Belmont and Company 3 Entrance into Politics 4 Death 5 August Belmont in culture 6 References 7 External links

[edit] Early life

August Belmont was born on December 8, 1813 (some sources say 1816), to Simon and Frederika Elsass Belmont. His mother died when he was seven, and lived with his uncle and grandmother in Frankfurt.^[1] He attended the Jewish Junior and Senior High School until he began his first job, an apprentice for the Rothschilds.^[1] He would sweep floors, polish furniture, and run errands for the Rothschilds, while also studying English, arithmetic, and writing.^[2] He was then given a confidential clerkship in 1832 and promoted to private secretary before travelling to Naples, Paris, and Rome.^[2] In 1837, Belcourt was assigned to Havana to manage the Rothschild's branches. However, while travelling to Havava, Belmont originally went to New York. He arrived during the Panic of 1837, and remained in New York instead of continuing on to Havana to superintend and jeopardised Rothschild interests.^[1]

[edit] August Belmont and Company

In May 1837, right before Belmont arrived in New York, nearly 250 businesses, including the Rothschild agents, had collapsed. As a result, Belmont postponed his Havana departure indefinitely and began August Belmont & Company , believing that he could replace the defunct American Agency with his company.^[2] It was an instant success, and Belmont was able to straighten out the Rothschild interests in the United States between 1837 and 1842.^[1] In 1844, Belmont was named the consul-general of Austria at New York in an attempt to strengthen his business position. He resigned in 1850 in response to what he viewed as Austria's cruel treatment of Hungary, and because of his increasing interest in politics.^[1]

[edit] Entrance into Politics

After marrying Caroline Slidell Perry on November 7, 1849, his wife's uncle John Slidell became interested in Belmont, a Democrat unlike most of his business acquaintances, seeing him as an able and enthusiastic protégé.^[1] Belmont was originally asked by Slidell to campaign for James Buchanan in New York. Belmont began campaigning for him, and in June 1851, he wrote letters to the New York Herald and the New York National-Democrat, insisting that they do justice to Buchanan's presidential run.^[1] Although Franklin Pierce ended up winning the nomination, Belmont supported him and gave him large contributions despite being on the receiving end of political attacks.^[2] After Pierce's victory int he 1852 election, he appointed Belmont chargé d'affaires for the United States at the Hague, as well as the American minister at the same place due to his generous contributions to Pierce's campaign.^[3]

He wanted the ambassadorship to Spain under president James Buchanan, but was denied.^[2] As a delegate to the Democratic Convention of 1860, he supported Stephen A. Douglas. He was named the Chairman of the Democratic National Committee the same year in Baltimore. He energetically supported the Union cause during the Civil War, and exerted a strong influence in favour of the North upon the merchants and financiers of England and France.

His sons Oliver Hazard Perry Belmont, Perry Belmont, and August Belmont, Jr. all rose to prominence in their own right.

[edit] Death

He died in New York in 1890 and a volume entitled Letters, Speeches and Addresses of August Belmont (the elder) was published at New York in 1890. He left between 10 and 50 million dollars for his wife and children.^[2]

[edit] August Belmont in culture

An avid sportsman, the famed Belmont Stakes thoroughbred horse race is named in his honor. Also named in his honor is the town of Belmont, New Hampshire - an honor Mr. Belmont never acknowledged. Also, Edith Wharton reputedly modeled her character of Julius Beaufort in Age of Innocence on August Belmont ^[4]

[edit] References

1. ^ ^{a b c d e f g} Katz, Irving (1968). August Belmont; a political biography. New York and London: Columbia University Press. 
2. ^ ^{a b c d e f} Biography of August Belmont. Retrieved on January 28, 2007.
3. ^ American National Biography Online: Belmont, August. Retrieved on February 5, 2007.
4. ^ The Edith Wharton Society. Retrieved on January 27, 2007.

[edit] External links

• Mr. Lincoln and New York: August Belmont