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Salomon RothschildThe second son of the founder of the dynasty, Mayer Amschel Rothschild
Date of Birth: 09.09.1774
Country:  Austria |
Content:
- Salomon Mayer Rothschild: The Austrian Banking Colossus
- Establishment of the Viennese Banking House
- Economic and Political Power
- The Northern Railway
- Innovation and Legacy
- Death and Legacy
- Marriage and Succession
Salomon Mayer Rothschild: The Austrian Banking Colossus
Early Life and CareerSalomon Mayer Rothschild, born on September 9, 1774, was the second son of Mayer Amschel Rothschild, the founder of the Rothschild dynasty. As his father's health declined, Salomon and his older brothers took over his business affairs, keeping family secrets closely guarded. In their youth, both Salomon and his elder brother Nathan became agents of the Hessian war treasury.
Establishment of the Viennese Banking House
In 1816, Salomon, now an experienced financier, established the banking house "S.M. von Rothschild" in Vienna. He swiftly formed a close relationship with the all-powerful Austrian chancellor, Klemens von Metternich, who effectively ran the country. Salomon became Metternich's economic advisor, gaining immense influence over both Austria's economy and its politics.
Economic and Political Power
Salomon Mayer's authority became so significant that Metternich even banned the sale of the newspaper "Allgemeine Zeitung" for criticizing the Rothschilds and Jews in general. As the chancellor's chosen financier, Salomon funded the construction of a railway for transporting coal from Galicia to Vienna, and in 1839, he built the Austrian Northern Railway, Europe's first major railroad. Completed in 1858, this "Rothschild Railway" would become a target of German nationalist and anti-Semitic attacks in Austria.
The Northern Railway
Despite his financial acumen, Salomon showed some shortsightedness in this project by rejecting the plan of the brilliant railway engineer Franz Xaver Riepl for the entire Northern Railway, resulting in Baron von Sina taking over its later construction.
Innovation and Legacy
Salomon also introduced a type of lottery loan in Austria, which proved immensely popular with the public. In 1842, he was made an honorary citizen of Vienna, and despite his Jewish heritage, in 1843, he was granted the right to own land, becoming one of Austria's largest landowners and paving the way for other Jews to acquire property in the country.
Death and Legacy
Salomon Mayer Rothschild died in 1855, a respected figure holding the titles of Royal Prussian and Danish Geheimrat (Privy Councillor), Geheimfinanzrat (Privy Councillor of Finances) to the Elector of Hesse, and banker to a major European power.
Marriage and Succession
Married to Caroline Stern, Salomon had a son and daughter, the latter of whom married Baron James de Rothschild of Paris. His son, Anselm, belonging to the third generation of Rothschilds, took over the Vienna banking house after his father's death. In 1822, all five of Mayer Amschel's sons and their male descendants, regardless of nationality, were granted baronial titles, and the family crest was modified to include the Austrian eagle, the lion representing Hesse-Kassel, and a hand now holding five arrows.
