August Belmont and Company
In the Panic of 1837, hundreds of American businesses, including the Rothschild's American agents, collapsed. As a result, Belmont postponed his departure for Havana indefinitely and began August Belmont & Company, believing that he could supplant the recently bankrupt firm, the American Agency. August Belmont and Company was an instant success, and Belmont restored health to the Rothschild's US interests over the next five years. In 1844, Belmont was named the Consul-General of Austria at New York. He resigned the post in 1850 in response to what he viewed as Austria's cruelty towards Hungary, even as his interest in politics grew.
Read more about this topic: August Belmont
Famous quotes containing the words august, belmont and/or company:
“What an occupation! To sit and flay your fellow men and then offer their skins for sale and expect them to buy them.”
—J. August Strindberg (1849–1912)
“Never be afraid to meet to the hilt the demand of either work or friendship—two of life’s major assets.”
—Eleanor Robson Belmont (1878–1979)
“The Bermudas are said to have been discovered by a Spanish ship of that name which was wrecked on them.... Yet at the very first planting of them with some sixty persons, in 1612, the first governor, the same year, “built and laid the foundation of eight or nine forts.” To be ready, one would say, to entertain the first ship’s company that should be next shipwrecked on to them.”
—Henry David Thoreau (1817–1862)