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August Belmont

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Subject: Augustus Schell, Oliver Belmont, Democratic Party (United States), Common Burying Ground and Island Cemetery, 1872 Democratic National Convention
Collection: 1813 Births, 1890 Deaths, 19Th-Century American Diplomats, Ambassadors of the United States to the Netherlands, American Bankers, American Financiers, American Horse Racing Industry Executives, American People of German-Jewish Descent, American Racehorse Owners and Breeders, Belmont Family, Burials at Common Burying Ground and Island Cemetery, Burials in Rhode Island, Converts to Anglicanism from Judaism, Democratic National Committee Chairs, German Jews, Hessian Emigrants to the United States, Jewish American Politicians, New York Democrats, People from Alzey, People from Frankfurt, People from Hempstead (Village), New York, People from New York City, People from Rhenish Hesse
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August Belmont

August Belmont
Born (1813-12-08)December 8, 1813
Alzey, Grand Duchy of Hesse, Germany
Died November 24, 1890(1890-11-24) (aged 76)
New York City, New York, U.S.
Resting place Common Burying Ground and Island Cemetery
Occupation Financier, politician, foreign diplomat, racehorse owner/breeder
Net worth US$10 million at the time of his death (approximately 1/1313th of then U.S. GNP)[1]
Spouse(s) Caroline Slidell Perry (m. 1849–1890)
Children Perry Belmont
August Belmont, Jr.
Oliver Hazard Perry Belmont
Raymond Rodgers Belmont
Jennie Belmont (died age 10)
Fredericka Belmont
Parent(s) Simon Belmont
Frederika Elsass Schonberg

August Belmont, Sr. (December 8, 1813 – November 24, 1890) was German-American politician, financier, foreign diplomat, and party chairman of the Democratic National Committee during the 1850s, and later a horse-breeder and racehorse owner, who established the Belmont Park racecourse on Long Island, New York. He is the namesake of the Belmont Stakes, third jewel of the Triple Crown series of American thoroughbred horse racing.[2]

Contents

  • Early life 1
  • August Belmont and Company 2
  • Marriage 3
  • Entry into politics 4
  • Postwar political career 5
  • Death 6
  • Interests 7
  • Legacy 8
  • In popular culture 9
  • References 10
  • Further reading 11
  • External links 12

Early life

August Belmont was born with the name August Schönberg to a Jewish family in Alzey, in the Grand Duchy of Hesse, in Germany on December 8, 1813—some sources say 1826—to Simon and Frederika Elsass Schonberg. After his mother's death, when he was age seven, he lived with his uncle and grandmother in the German financial capital city of Frankfurt am Main ("Frankfurt on the Main River").[3] He attended The Philanthropin, a Jewish school, until he began his first job as an apprentice to the Rothschild banking firm in Frankfurt am Main.[3] The young August, would sweep floors, polish furniture, and run errands while studying English, arithmetic, and writing.[4] He was then given a confidential clerkship in 1832 and promoted to confidential clerk before traveling later to Naples, Paris, and Rome.[4] At age 24, in 1837, Schonberg/Belmont set sail for the Spanish colony island in the Caribbean Sea, - the capital city of Havana, in Cuba, charged with the Rothschild's Cuban interests. On his way to Havana, however, Schonberg/Belmont stopped in New York City in the famed New World of the previously prospering United States on a layover. He arrived there during the first waves of the financial/economic recession of the Panic of 1837 shortly after the end of the iconic first Democrat, seventh President Andrew Jackson's, (1767-1845), two-term administration, (1829-1837), with his former second-term Vice President, Martin van Buren, (1782-1862), elected the previous year as the eighth President during the long economically depressed times of the late 1830s. Belmont then remained in New York to supervise the jeopardized Rothschild financial interests in America, whose New York agent had filed for bankruptcy, there instead of continuing on to Havana.[3] After he emigrated permanently to the United States, he changed his family surname, "Schoenberg" (German for "beautiful mountain"), to "Belmont" (French for "beautiful mountain") in an attempt to avoid anti-Semitism and integrate into American High Society.

August Belmont and Company

In the financial/economic recession and Panic of 1837, hundreds of American businesses, including the Rothschild Family's American agents in New York City, collapsed. As a result, Belmont postponed his departure for Havana indefinitely and began a new firm, August Belmont & Company, believing that he could supplant the recently bankrupt firm, the American Agency.[4] August Belmont & Company was an instant success, and Belmont restored health to the Rothschild's U.S. interests over the next five years.[3] The Company dealt with foreign exchange transactions, commercial and private loans, as well as corporate, railroad, and real estate transactions.[5]In 1844, Belmont was named the Consul-General of the Austrian Empire at New York City, representing the Imperial Government's affairs in the major American financial and business capital. He resigned the consular post in 1850 in response to what he viewed as Austrian government's policies towards Hungary, which had yet to gain equal status with Austria as part of the Dual Monarchy compromise of 1867. His interest in American domestic politics continued to grow.[3]

Marriage

Belmont married Caroline Slidell Perry on November 7, 1849. She was the daughter of naval officer Matthew Calbraith Perry, captain and commodore in the U.S. Navy, later famous for his expedition to open the trading ports of Japan in 1857. According to Jewish newspaper sources, he converted to Christianity at that time, taking his wife's Episcopalian/Anglican faith.[6][7] Belmont's sons were Oliver Hazard Perry Belmont, Perry Belmont, and August Belmont, Jr. All of his sons became involved in politics. Perry became the head of the committee on foreign affairs in Congress. [8]

Entry into politics

Soon, John Slidell, his wife's uncle (a U.S. Senator from Louisiana, and later southern secessionist who served the Confederate States government as foreign diplomat and potential minister to Great Britain and French Emperor Napoleon III, removed in late 1861 from the British trans-Atlantic steam packet ship Trent, off-shore from Havana, Cuba, by the Union Navy warship USS San Jacinto) who later made Belmont his protégé.[3]

Belmont's first task was to campaign for the presidential nomination for American diplomat in Europe, James Buchanan (1791-1868), of Wheatland, Pennsylvania, as Buchanan's campaign manager in New York for the presidential election of 1852. In June 1851, Belmont wrote letters to the New York Herald and the New York National-Democrat, insisting that they do justice to Buchanan's presidential run for the Democratic Party's nomination.[3] But Franklin Pierce, (1804-1869), of New Hampshire, known as the "dark horse" candidate, unexpectedly won the Party's nomination instead, was elected as the 14th President, appointed Buchanan as his Secretary of State, and Belmont made further large contributions to the Democratic cause, while weathering political attacks.[4]

After taking office in 1853, President Pierce appointed Belmont chargé d'affaires (equivalent to ambassador) to The Hague of the Kingdom of the Netherlands. Belmont held this post from October 11, 1853 until September 26, 1854 when the position's title was changed to Minister Resident. Belmont served as Minister Resident until September 22, 1857. While in the Holland, Belmont urged American annexation of the Caribbean island Cuba as a new slave state in what became known as the Ostend Manifesto.[9]

Though Belmont lobbied hard for it, newly elected President Buchanan denied him the ambassadorship to Madrid in the Kingdom of Spain after the presidential election of 1856, thanks to the Ostend Manifesto.[10] As a delegate to the pivotal, but soon violently-split Democratic National Convention of 1860 in Charleston, South Carolina, in the momentous presidential election of 1860.

Belmont supported influential U.S. Senator Stephen A. Douglas, (1813-1861), of Illinois (who had triumphed in the famous Lincoln-Douglas Debates over newly recruited Republican Party candidate for the Senate seat representing Illinois, the promising Abraham Lincoln, (1809-1865), his long-time romantic and political rival).

Senator Douglas subsequently nominated Belmont as chairman of the

Diplomatic posts
Preceded by
George Folsom
U.S. Minister to the Netherlands
1853–1857
Succeeded by
Henry C. Murphy
  • Photograph of August Belmont's birth record, Zivilstandsregister Alzey, Germany, 1813
  • Mr. Lincoln and New York: August Belmont
  •  "Belmont, August".  

External links

  • Birmingham, Stephen (1996). "Our Crowd: The Great Jewish Families of New York". Syracuse University Press. pp. 57–62.  

Further reading

  1. ^ Klepper, Michael; Gunther, Michael (1996), The Wealthy 100: From Benjamin Franklin to Bill Gates—A Ranking of the Richest Americans, Past and Present,  
  2. ^ a b "August Belmont is Dead. A Notable Career Closed Early Yesterday Morning. The Veteran Banker's Short And Fatal Illness. His Life As a Leader In Finance, Politics, Society, and On The Turf".  
  3. ^ a b c d e f g h Katz, Irving (1968). August Belmont; a political biography. New York and London: Columbia University Press. 
  4. ^ a b c d e "Biography of August Belmont". Archived from the original on October 10, 2006. Retrieved January 28, 2007. 
  5. ^ American National Biography Online. 
  6. ^ American Israelite, August 7, 1874, p. 4
  7. ^ Jewish Exponent, December 19, 1924
  8. ^ Appleton's Cyclopedia of American Biography. 
  9. ^ Katz, 42–45.
  10. ^ Katz, 58–61; John A. Garraty and Mark C. Carnes, eds., American National Biography, Vol. II (New York: Oxford University Press, 1999), 534
  11. ^ Katz, 90. For more on Belmont's public contributions to the war effort, see Belmont's self-published, A Few Letters and Speeches of the Late Civil War, New York, [Private Printing], 1870.
  12. ^ Allen Johnson, ed., Dictionary of American Biography, Vol. II (New York: Charles Scribner's Sons, 1929), 170.
  13. ^ Quoted in Katz, 91.
  14. ^ Garraty and Carnes, 534.
  15. ^ Garraty and Carnes, 534; Katz, 167–68.
  16. ^ Homberger, Eric (2002). Mrs. Astor's New York: Money and Social power in a Gilded Age. New York. p. 174. 
  17. ^ Katz, 200
  18. ^ Katz, 210–276.
  19. ^ "Mrs. August Belmont Dead. Death Came Peacefully Yesterday After A Long Illness".  
  20. ^ "The Edith Wharton Society". Archived from the original on February 8, 2007. Retrieved January 27, 2007. 

References

Belmont was referenced as a White Anglo-Saxon Protestant (WASP) in Paddy Whacked by T.J. English, though Belmont was Jewish, not Protestant.

Author Edith Wharton reputedly modeled the character of Julius Beaufort in her novel The Age of Innocence on Belmont.[20]

In popular culture

In 1910, sculptor John Quincy Adams Ward completed a bronze statue of a seated Belmont. The statue was originally installed in front of a small chapel adjacent to the Belmont burial plot in the Island Cemetery. It was later moved to a park between Washington Square and Touro Steet in Newport. It was replaced by a marker dedicating the park as Eisenhower Park (Newport) in 1960, to honor President Dwight D. Eisenhower. The statue was loaned by the city of Newport, Rhode Island to the Metropolitan Museum of Art in New York in 1985. It was eventually installed, about 1995, in front of the headquarters building for the Preservation Society of Newport County at the corner of Bellevue and Narragansett Avenues in Newport.

Belmont, New Hampshire, is name in his honor, an honor he never acknowledged.

Legacy

Belmont threw lavish balls and dinner parties, receiving mixed reviews from New York's high society. He was an avid sportsman and the famed Belmont Stakes thoroughbred horse race is named in his honor. It debuted at Jerome Park Racetrack, owned by Belmont's friend, Leonard Jerome (the maternal grandfather of Winston Churchill). The Belmont Stakes is part of thoroughbred horse racing's Triple Crown and takes place at Belmont Park racetrack, just outside New York City. Belmont was heavily involved in thoroughbred horse racing. He served as the president of the National Jockey Club from 1866 to 1887, and owned two large horse-breeding farms as well.

Interests

The Letters, Speeches and Addresses of August Belmont was published at New York in 1890. Belmont left an estate valued at more than ten million dollars. He is buried in an ornate sarcophagus in the Belmont family plot (along with other Belmonts, Perrys and Tiffanys) in the Island Cemetery in Newport, Rhode Island.[4] His widow died in 1892.[19]

Belmont died in New York on November 24, 1890 from pneumonia.[2] His funeral was held at the Church of the Ascension in New York City.

Death

Although the election of 1872 prompted Belmont to resign his chairmanship of the Democratic National Committee, he nevertheless continued to dabble in politics as a champion of U.S. Senator Thomas F. Bayard of Delaware for the presidency, as a fierce critic of the process granting Rutherford B. Hayes the presidency in the 1876 election, and as an advocate of "hard money" financial policies.[18]

While the party chairman had originally promoted Charles Francis Adams for the nomination, Greeley's nomination implied Democratic endorsement of a candidate who as publisher of the famous nationally-dominant newspaper, the New York Tribune, had often earlier referred to Democrats before, during and after the War as "slaveholders", "slave-whippers", "traitors", and "Copperheads" and accused them of "thievery, debauchery, corruption, and sin".[17]

According to the Chicago Tribune in 1864, Belmont was buying up Southern bonds on behalf of the Rothchilds as their agent in New York because he backed the Southern cause. Seeking to capitalize on divisions in the Salmon Chase (the former United States Secretary of the Treasury since 1861, and later Chief Justice of the United States in 1864) for president in 1868, the candidate he viewed least vulnerable to charges of disloyalty to the Party during the Republican/Unionists Lincoln-Johnson Administrations, (1861-1869).[15] Horatio Seymour's electoral defeat in the 1868 election paled in comparison to the later nomination of Liberal Republican Horace Greeley's disastrous 1872 presidential campaign. In 1870, the Democratic Party faced a crisis when the Committee of Seventy emerged to cleanse the government of corruption. A riot at Tammany Hall led to the campaign to topple William(Boss) Tweed. Belmont stood by his party.[16]

[14] Remaining chairman of the

Postwar political career

[3]

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