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Our Crowd: The Great Jewish Families of New York
They immigrated to America from Germany in the nineteenth century. From tenements on the Lower East Side to Park Avenue mansions, this handful of Jewish families turned small businesses into imposing enterprises and amassed spectacular fortunes. But despite possessing breathtaking wealth that rivaled the Astors and Rockefellers, they were barred by the gentile establishment from the lofty realm of "the 400," a register of New York's most elite, because of their religion and humble backgrounds. In response, they created their own elite "100," a privileged society as opulent and exclusive as the one that had refused them entry.
416 pages, Paperback
First published January 1, 1967
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June 28, 2021
Engaging history of wealthy German-American Jews
Our Crowd looks at the history of wealthy German-American Jewish families primarily in New York City. This is an interesting book, somewhat a companion volume along the lines of Birmingham’s book The Grandees which examines the lives of wealthy Sephardic Jews in New York City. Birmingham centers this book around the Seligmans, the Lehmans, Schiffs, Guggenheims, and the Kahns. Frankly it was all rather confusing to keep them all straight. Most ended up in banking and intermarried a lot, all to keep the wealth and Jewishness among “our crowd”. Mostly I enjoyed the book, except Birmingham’s generous use of foreign words without translation as if we all speak fluent German, or Yiddish. I would have liked to have seen photos of these people he wrote about, a pet peeve of mine in some biographical histories that don’t have them. Otherwise however I enjoyed the book and if this type of wealth history is your thing, as it is for me, then this book is for you.
Our Crowd looks at the history of wealthy German-American Jewish families primarily in New York City. This is an interesting book, somewhat a companion volume along the lines of Birmingham’s book The Grandees which examines the lives of wealthy Sephardic Jews in New York City. Birmingham centers this book around the Seligmans, the Lehmans, Schiffs, Guggenheims, and the Kahns. Frankly it was all rather confusing to keep them all straight. Most ended up in banking and intermarried a lot, all to keep the wealth and Jewishness among “our crowd”. Mostly I enjoyed the book, except Birmingham’s generous use of foreign words without translation as if we all speak fluent German, or Yiddish. I would have liked to have seen photos of these people he wrote about, a pet peeve of mine in some biographical histories that don’t have them. Otherwise however I enjoyed the book and if this type of wealth history is your thing, as it is for me, then this book is for you.
January 24, 2016
I received a copy of this book from NetGalley.
This work of non-fiction details the close knit group of wealthy Jewish families that settled in New York City in the nineteenth century. With names including "Lehman, Lewisohn, Schiff, Loeb, Warburg, Guggenheim, Seligman, Kahn, Straus, Goldman, and Sachs are nationally, and in most cases internationally, known. They stand for banking and industrial efficiency, government service, philanthropy and vast patronage of the arts, science, and education." With the exception of the Guggenheims - "who came from German-speaking Switzerland - all these families trace their origins to Germany." They have have referred to themselves as "the One Hundred," the "Jewish Grand Dukes," but most often as "our crowd."
The majority made their fortunes as merchants or bankers and married within the tight circle of families in order to maintain the wealth and exclusivity of their group. For example, "for nearly fifty years after Goldman, Sachs was founded, all partners were members of the intermarried Goldman and Sachs families. Meanwhile, for nearly seventy-five years, or until 1924, all partners in the Lehman firm carried the name Lehman. The majority were Jewish in name only, despite originating from German families who followed the religious and dietary laws scrupulously. Upon arrival in America, this proved difficult to maintain. Their rise from poor immigrants to millionaires was impressive and founded on hard work and a willingness to fill holes in current American services. For examples, the Seligman's selling theory was "Sell anything that can be bought cheaply, sold quickly at a little profit, small enough to place inside a pack and light enough to carry." Initially, the Seligman brothers traveled on foot, carrying packs that weighed from one to two hundred pounds.
Soon, these families transformed themselves into an elite who lived in "palaces of brownstone and marble" along Fifth Avenue. The Belmonts built the "first private house in the city to have its own ballroom." And their families continued to swell. The original eleven Seligman siblings that immigrated to New York had grown to include 104, including husbands, wives, and children by the end of the first world war. However, these families were not infallible from making poor business choices. For instance, Joseph Seligman turned down the opportunity to purchase more than three square miles of Manhattan for a mere $450,000. Had he purchased it, "the Seligmans today would easily be the richest family in the world." On the other hand, these families should be recognized for their significant philanthropic world, which was often conducted anonymously because they considered it their civic obligation.
My biggest frustration with this book is that the topic was far too broad to cover well. Both the number of families, the size of the families themselves, and the time period covered within this book are vast. This led to feeling as if I was reading selected anecdotes from the families rather than comprehensive histories of each. Additionally, it was difficult to keep each of the families straight. My other main complaint was that extensive time was spent detailing the business lives of these families, in which I had much less interest than their social and cultural lives. I found anecdotes about their odd quirks, parenting choices, and social intrigue far more interesting. Instead, I was mired down in banking, speculating, and railroad details. Furthermore, I found the first half of this book far more interesting than the second. The first deals with the new immigrants building their fortunes and establishing connections in their new country while the second half too heavily bogged down in business deals and political intrigues.
Over time, these once great families and their related businesses and fortunes have mostly declined. The Seligman business has gradually shrunk from "a great international banking house with offices in New York, San Francisco, New Orleans, Paris, and London to what it is today - a small, prestigious investment house with but a single office in New York."
This work of non-fiction details the close knit group of wealthy Jewish families that settled in New York City in the nineteenth century. With names including "Lehman, Lewisohn, Schiff, Loeb, Warburg, Guggenheim, Seligman, Kahn, Straus, Goldman, and Sachs are nationally, and in most cases internationally, known. They stand for banking and industrial efficiency, government service, philanthropy and vast patronage of the arts, science, and education." With the exception of the Guggenheims - "who came from German-speaking Switzerland - all these families trace their origins to Germany." They have have referred to themselves as "the One Hundred," the "Jewish Grand Dukes," but most often as "our crowd."
The majority made their fortunes as merchants or bankers and married within the tight circle of families in order to maintain the wealth and exclusivity of their group. For example, "for nearly fifty years after Goldman, Sachs was founded, all partners were members of the intermarried Goldman and Sachs families. Meanwhile, for nearly seventy-five years, or until 1924, all partners in the Lehman firm carried the name Lehman. The majority were Jewish in name only, despite originating from German families who followed the religious and dietary laws scrupulously. Upon arrival in America, this proved difficult to maintain. Their rise from poor immigrants to millionaires was impressive and founded on hard work and a willingness to fill holes in current American services. For examples, the Seligman's selling theory was "Sell anything that can be bought cheaply, sold quickly at a little profit, small enough to place inside a pack and light enough to carry." Initially, the Seligman brothers traveled on foot, carrying packs that weighed from one to two hundred pounds.
Soon, these families transformed themselves into an elite who lived in "palaces of brownstone and marble" along Fifth Avenue. The Belmonts built the "first private house in the city to have its own ballroom." And their families continued to swell. The original eleven Seligman siblings that immigrated to New York had grown to include 104, including husbands, wives, and children by the end of the first world war. However, these families were not infallible from making poor business choices. For instance, Joseph Seligman turned down the opportunity to purchase more than three square miles of Manhattan for a mere $450,000. Had he purchased it, "the Seligmans today would easily be the richest family in the world." On the other hand, these families should be recognized for their significant philanthropic world, which was often conducted anonymously because they considered it their civic obligation.
My biggest frustration with this book is that the topic was far too broad to cover well. Both the number of families, the size of the families themselves, and the time period covered within this book are vast. This led to feeling as if I was reading selected anecdotes from the families rather than comprehensive histories of each. Additionally, it was difficult to keep each of the families straight. My other main complaint was that extensive time was spent detailing the business lives of these families, in which I had much less interest than their social and cultural lives. I found anecdotes about their odd quirks, parenting choices, and social intrigue far more interesting. Instead, I was mired down in banking, speculating, and railroad details. Furthermore, I found the first half of this book far more interesting than the second. The first deals with the new immigrants building their fortunes and establishing connections in their new country while the second half too heavily bogged down in business deals and political intrigues.
Over time, these once great families and their related businesses and fortunes have mostly declined. The Seligman business has gradually shrunk from "a great international banking house with offices in New York, San Francisco, New Orleans, Paris, and London to what it is today - a small, prestigious investment house with but a single office in New York."
May 31, 2013
I had this book on my shelves forever and frankly, forgot about it. As the title indicates, it follows the rise of the great Jewish families of New York....Guggenheim, Loeb, Sachs, Straus, Belmont, et al.; names that still resonate in the banking and mercantile business in the great city. It traces how and where these families came about their fortunes and how they spent their money. They were frowned upon by the "400" of Mrs. Astor, but they had their own elite "100". The intermarriage over the years connected the families in business; for example, Goldman Sachs. It is a fascinating history of some of the great financiers and philanthropists in America.
December 11, 2015
Our Crowd: The Great Jewish Families of New York was first published in 1967. I was expecting a fascinating read, only to discover that halfway through the book I did not wish to continue. It was tedious. The majority of the book is about business, not about family and social matters. Hence, it's a great read for anyone wanting an easy way to learn how many German Jews in America became so wealthy. Since I had to review the book, I did continue reading and did find the second half more interesting. Besides more family and social stuff, there was also a good look at how the well-off German Jews felt about and dealt with the much poorer "Russian" Jewish immigrants. In addition, there was the matter of World War II, and how the German Jews so sadly had to realize their love and longing for Germany had to end. At least where modern Germany was concerned.
The end of the book was a bit of a "what happened" to some of the families, but that part was dated and confusing. With all the families and all the intermarrying, I sometimes had no idea who the author was talking about, even though they were mentioned earlier in the book. Author Stephen Birmingham obviously did his research and knew his subjects well; but I'm not sure he had a good grasp of who the readers of the book might be; not taking into account that those who like to read about family and social life, may not be that keen on reading about business life, and vice versa. Or that readers might not have a memory as good as his about who was who in the great Jewish families of New York.
(Note: I received a free e-copy of this book from NetGalley and the publisher in exchange for an honest review.)
The end of the book was a bit of a "what happened" to some of the families, but that part was dated and confusing. With all the families and all the intermarrying, I sometimes had no idea who the author was talking about, even though they were mentioned earlier in the book. Author Stephen Birmingham obviously did his research and knew his subjects well; but I'm not sure he had a good grasp of who the readers of the book might be; not taking into account that those who like to read about family and social life, may not be that keen on reading about business life, and vice versa. Or that readers might not have a memory as good as his about who was who in the great Jewish families of New York.
(Note: I received a free e-copy of this book from NetGalley and the publisher in exchange for an honest review.)
December 15, 2015
Having never read any Stephen Birmingham books, I had no idea this was originally published in the 60s! The extensive history of prominent German-Jewish families, their interrelatedness, the prejudices they faced, and their success in industry, made for fascinating reading. It's difficult to imagine some of the silly anti-Semitism they faced, since the "Crowd" became so rich and influential. I would have loved an afterword written by someone--anyone--with more recent information about the families, but as it was, I very much enjoyed this book.
Recommended for history fans who enjoy a chatty, humorous style.
Thanks to the publisher for the chance to review this republished book!
Recommended for history fans who enjoy a chatty, humorous style.
Thanks to the publisher for the chance to review this republished book!
July 12, 2021
I read this book when it first came out, and now, 54 years later, it was interesting to listen to the audio version of this book and realize that most of the great banking institutions set up by this close-knit group of German Jews residing in New York City are no more, and how these proud people’s way of life is now as extinct as the dodo bird.
May 2, 2022
Stephen Birmingham's epic story about the second wave of Jewish immigration into America, by primarily German-Jewish men who left their families to make their fortunes in the new country in the early 1800s. Starting out with nothing, they made their way as peddlers in the countryside, buying goods for one dollar each and selling them for two. Joseph Seligmann heard his rural customers complain about the stove cleaner that left their appliance gritty. He consulted with a chemist and figured out how to improve the cleaner so that it would polish a stove without pitting it. He put his own label on the product and sold it at a good profit. Thus are fortunes begun.
"Our Crowd" tells the stories of families whose names we all know now: Loeb, Sachs, Goldman, Schiff, Lehman, Guggenheim, and more. Their small family businesses have become institutions of finance, the crash of 2008 notwithstanding. With strategic marriages and inter-family marriages, the German-Jewish families of the founding generation became the insulated, upper-class mirror of the upper-class, Christian New York society that would not allow them in.
Two of the interesting things (there were many) that I learned from this book are: (1) August Belmont (of horse breeding renown) was not a French Protestant but a German Jew. When he emigrated, he changed his name from Auguste Schoenberg to the French version, August Belmont (both surnames mean "beautiful mountain.") For the rest of his life he lived the life of a gentleman WASP, even marrying a Protestant debutante and being laid to rest by a Presbyterian minister. And (2) The revolution that led to the establishment of independent Panama was entirely planned and financed by Jewish New York bankers. It was better for them, financially, for the Panama Canal to be built through an independent Panama instead of through Nicaragua, which was the geographically and topographically the more logical route. I guess it's true that, if you have enough money you can get whatever you want.
Thoroughly researched and rich with detail (maybe too much detail?), "Our Crowd" held my interest throughout. Now I am looking forward to reading Birmingham's other two books about the history of the Jewish people in America: "The Grandees," about the emigration of a small group of Sephardic Jews in the mid-1600s, and "The Rest of Us," about the third wave of Jewish immigration, from Russia and Eastern Europe, from the early 1880s to the mid-1920s.
I want to mention that I also read and thoroughly enjoyed Birmingham's delightful book, "Life at the Dakota," a history of the famous, gothic apartment house on the west side of Central Park. I read it when it was published, in 1979, and the Dakota certainly has continued to house many famous people -- and to be the source of juicy stories -- since then.
"Our Crowd" tells the stories of families whose names we all know now: Loeb, Sachs, Goldman, Schiff, Lehman, Guggenheim, and more. Their small family businesses have become institutions of finance, the crash of 2008 notwithstanding. With strategic marriages and inter-family marriages, the German-Jewish families of the founding generation became the insulated, upper-class mirror of the upper-class, Christian New York society that would not allow them in.
Two of the interesting things (there were many) that I learned from this book are: (1) August Belmont (of horse breeding renown) was not a French Protestant but a German Jew. When he emigrated, he changed his name from Auguste Schoenberg to the French version, August Belmont (both surnames mean "beautiful mountain.") For the rest of his life he lived the life of a gentleman WASP, even marrying a Protestant debutante and being laid to rest by a Presbyterian minister. And (2) The revolution that led to the establishment of independent Panama was entirely planned and financed by Jewish New York bankers. It was better for them, financially, for the Panama Canal to be built through an independent Panama instead of through Nicaragua, which was the geographically and topographically the more logical route. I guess it's true that, if you have enough money you can get whatever you want.
Thoroughly researched and rich with detail (maybe too much detail?), "Our Crowd" held my interest throughout. Now I am looking forward to reading Birmingham's other two books about the history of the Jewish people in America: "The Grandees," about the emigration of a small group of Sephardic Jews in the mid-1600s, and "The Rest of Us," about the third wave of Jewish immigration, from Russia and Eastern Europe, from the early 1880s to the mid-1920s.
I want to mention that I also read and thoroughly enjoyed Birmingham's delightful book, "Life at the Dakota," a history of the famous, gothic apartment house on the west side of Central Park. I read it when it was published, in 1979, and the Dakota certainly has continued to house many famous people -- and to be the source of juicy stories -- since then.
October 14, 2018
Enormously enjoyable history of the great New York Jewish families, who rose from poverty and obscurity to incredible wealth and power. This detailed and meticulously researched group biography explores the origins of the Sachs, Guggenheim, Goldman and Lehman families, amongst others, and shows how their hard work and diligence paid off as they founded the dynasties and businesses that in many cases survive into our own times, and whose names are still well known. It's an ambitious book, with a lot of material and a vast scope and it’s sometimes difficult to keep track of all the many characters that people it, but I found it worth the effort and I very much enjoyed learning about all these families.
August 3, 2017
I've never read any of Stephen Birmingham's book. This was a fascinating look not only at the families he writes about, but the times in which they lived. How the railroads and developed financially, how some of the families started as peddlers (!), and the incestuous world of banking and finance. All quite interesting.
Definitely worth reading and take your time - there's lots of detail here and it's all well documented.
Definitely worth reading and take your time - there's lots of detail here and it's all well documented.
August 17, 2018
A bit of a slog
This book dragged on a bit. It was hard to hold my attention steady. The topic is of great interest but the execution was mediocre. There were moments of really fascinating insights but unfortunately they were buried amidst a lot of less interesting writing.
This book dragged on a bit. It was hard to hold my attention steady. The topic is of great interest but the execution was mediocre. There were moments of really fascinating insights but unfortunately they were buried amidst a lot of less interesting writing.
October 31, 2022
One of the greatest true historical novels I have ever read, so well researched with stories about the families who built New York that even their family members, still living, will no longer know about. I really liked that the best, how Birmingham took the best of all the information he learned about the Jewish immigrants who came to New York and "made good", the book flowed so well I couldn't put it down and a weathered hardback with a beaten cover I got from a free library had suddenly brought me an author who I wanted to read more of...and his books are not easy to find anymore, at least not for me. (Easily bought on the Internet, took a few weeks to get here but you like to find a good author at your local bookstore, you know? My local Borders, or was it Barnes and Noble that survived, can never remember, didn't have him, even to order) Birmingham got me through a really hard time in my life, a surgery and recovery, time spent recovering at a facility in which I was struggling through pain that they no longer medicate you for, they no longer take it away. Birmingham's book helped to transport me away from that pain and I will always be thankful for that. I will always be one of his biggest fans, for so many reasons! And, of the several books of his I've read, this still remains the best of the bunch.
January 29, 2023
Every month, I get a list of recommended reading from Amazon. It is wide-ranging in tastes, and best of all, cheap. At $1.99 a book, you can afford to take a few reading-risks. As such I downloaded Our Crowd: The Great Jewish Families of New York by Stephen Birmingham from the May 2022 recommendations.
While it did languish on my Kindle shelf for a few months, I recently picked it to read, and basically couldn’t put it down.
What fascinating people. Their ideals of family, work ethic and practices of “giving back” really sang to me. Jews in New York have a certain reputation that has become a stereotype - the loud, brash, pushy New York Jew. It was pleasing to read a different narrative and it is one that brings to life a community of discipline, altruism and ethics that has given New York City in particular, but also the United States, many, many contributions that make it the strong nation it is today.
What a fascinating book!
While it did languish on my Kindle shelf for a few months, I recently picked it to read, and basically couldn’t put it down.
What fascinating people. Their ideals of family, work ethic and practices of “giving back” really sang to me. Jews in New York have a certain reputation that has become a stereotype - the loud, brash, pushy New York Jew. It was pleasing to read a different narrative and it is one that brings to life a community of discipline, altruism and ethics that has given New York City in particular, but also the United States, many, many contributions that make it the strong nation it is today.
What a fascinating book!
May 4, 2022
Listened to the audiobook free on audible plus.
Part one of a trilogy about the great Jewish families of New York.
I enjoy rags to riches sagas and the early Jewish immigrants to the USA made New York the financial hub of the country.
Important lessons in this book about ethics, religion, family and money management.
A lot of family traditions are told and the use of marriage between first cousins was common in order to keep gentiles out.
I enjoyed learning about their lifestyles and plan to read the other 2 books.
Part one of a trilogy about the great Jewish families of New York.
I enjoy rags to riches sagas and the early Jewish immigrants to the USA made New York the financial hub of the country.
Important lessons in this book about ethics, religion, family and money management.
A lot of family traditions are told and the use of marriage between first cousins was common in order to keep gentiles out.
I enjoyed learning about their lifestyles and plan to read the other 2 books.
September 12, 2017
This is the fascinating story of German Jewish immigrants coming to New York. Starting as peddlers and ending up as Tycoons. Loebs, Schiffs, Lehmans, Warburgs. But Birmingham concentrates on the Seligmans. (There is also one Belmont, also a Jew but a protégé of the Rothschilds and somehow odd man out.) Joseph Seligman, having studied in Erlangen at 14 comes to the States. And starts business, peddling. His 8 (or so) brothers arrive one after another. Some of his brothers working in San Francisco during the gold rush. We learn about railways. And the Panama Project. The Seligman getting paid for the privilege of selling bounds and earning money with it. They were not very religious but had a class of there own. Marrying only between themselves so in the end everyone was related to all other families. As fascinating the rise even more intriguing the fall, especially of the Seligmans. In the third generation there are more than 140 Seligmans after 100 years only 3. Amazing. All of them starting with the second genearation more or less eccentric or mad. (Bathing 10 times a day following crazy diets). One of the later generation Loebs at least founded the library.
In the seventies of the 19th century there is a big scandal when Joseph Seligman is send away from the hotel he always stays in. The hotel inherited by a Judge Hilton does not want “Hebrews”.
Even more shocking is when a son is denied membership in a club that his father cofounded. “It has no personal reasons at all. The decision is purely racial”.
In the seventies of the 19th century there is a big scandal when Joseph Seligman is send away from the hotel he always stays in. The hotel inherited by a Judge Hilton does not want “Hebrews”.
Even more shocking is when a son is denied membership in a club that his father cofounded. “It has no personal reasons at all. The decision is purely racial”.
November 23, 2016
This is a historical account, not only of the prominent Jewish families who contributed to the early growth of America and the economic foundation for our country, but, about the stratification that arose within the Jewish community and the class distinction that arose between the lower East side and the Upper West side. There was a divide between those Jewish immigrants from Germany and those who arrived from Eastern Europe , like Poland, Hungary and Russia. Set in the time between pre-Hitler and post WW II we see how rag merchants arose to positions of world leadership in banking and finance.
An interesting read for those with an interest in American history. Be prepared for a wordy recount of family trees and interactions.
An interesting read for those with an interest in American history. Be prepared for a wordy recount of family trees and interactions.
September 10, 2021
I am interested in the Gilded Age of wealth. The Astors, Vanderbilts, Rockefellers, etc. I have read numerous books about these families. "Our Crowd" is the story of Jewish bankers and investors in the United States. It is well written, but very academic in nature. The main storyline is the accumulation of wealth by Jewish tycoons. There is little about social customs and family life (unless it involves brothers working together in a company). I listened through the Seligman family and gave up a few chapters late. Interest rates, commercial bonds, and railroads do not interest me. The narrator on Audible was excellent.
November 17, 2019
An absolutely excellent view into the history of the most influential Jews that ever impacted New York City. I thoroughly enjoyed every aspect of this book and learned so much while reading it. This book also made me so proud to be a part of immigrant Jew culture in this country. While reading this incredibly informational book I was able cross reference the footnotes and really delve into some excellent history. I recommend this to anyone who loves a good account of some really awesome history.
June 4, 2017
Entertaining but a bit dated
It's interesting to learn how these mostly German Jewish immigrants worked so hard and made such sacrifices and such fortuitous decisions, that they became among the richest families in the US. They were not all geniuses, not all successful as merchants or bankers, but they stuck together and carried each other to eminence in finance, philanthropy and the arts.
It's interesting to learn how these mostly German Jewish immigrants worked so hard and made such sacrifices and such fortuitous decisions, that they became among the richest families in the US. They were not all geniuses, not all successful as merchants or bankers, but they stuck together and carried each other to eminence in finance, philanthropy and the arts.
April 29, 2020
Fascinating look inside the families that shaped some of the most important cultural institutions in New York in the twentieth century. It was interesting to note how many emigrated in the wake of discrimination, pogroms, oppression and poverty. Those who came from means viewed their philanthropy as a necessary responsibility to society, to further civilization.
May 10, 2020
This would have gotten a 4-star rating because it’s a fascinating history, but it covered a portion of the American Metal Company’s history without so much as mentioning the name of the German Jew who came to the US in the 1880’s to originally found it, Berthold Hochschild (my great great grandfather).
January 26, 2019
I thoroughly enjoyed this book & plan to read others by Mr. Birmingham. If you are not interested in the history of this era, you won’t enjoy it. I want to read more about several of the people mentioned in this book.
October 12, 2020
An encyclopedia of the "German" Jews who came to the US and created dynasties. Many of the protagonists are household names, and a few of the names have figured among my friends without me having an inkling of how important their families were -
March 26, 2023
Despite the author having no relation to any of the families involved (and, according to his obituary, his not being Jewish) this book has all the hallmarks of an inside-the-family biography. The genealogical trees are thoroughly, if often tiresomely, presented; stray anecdotes and amusing family tidbits are related; dating stories and intermarriages are revealed, etc. The book in fact relies on some unpublished family manuscripts, and if this does not make one suspect of its exactitude, the lack of footnotes or citations and the frequent errors should.
Admittedly, this book was published back in 1967, when journalistic standards were looser, but I came away from it not knowing how much to trust. Still, if one wanted a group biography of some of the most important families in American financial history, or even just in American history, this would be a good place to get the general sense of their success and travails. Although August Belmont (formerly Alfred Schonberg) was the first non-Sephardic Jew to move into New York high-finance, it was Joseph Seligman, who came from Bavarian and went into Eastern Pennsylvanian peddling under the tutelage of Asa Packer, and who soon brought his numerous brothers and sisters over and moved to Manhattan, who became the real center of the Jewish financial firmament. He was followed by many others. Meyer Guggenheim and his family came from the Heidelberg region of Switzerland and started peddling "on foot" in Eastern Pennsylvania (instead of "in a wagon," which the author claims became an important distinction between the German Jewish families). The Lehmans started in Alabama as brokers and stayed for years as commodities traders (even if they, luckily, established an office in New York before the Civil War) before tying up with Goldman Sachs. (Marcus Goldman also went to Eastern Pennslyvania, but the two firms finally divorced them in the '20s, as Sidney Weinberg and others at Goldman came to want independence for his firm.) After the Seligman firm and family, which declined with Joseph's death in 1880, the next most important for this stories is Kuhn, Loeb, whose original partners came from Germany and who ended up in Cincinnati involved in the textile trade. Intermarriages built up this firm more than any other of the era. Solomon Loeb's daughter Theresa married Jacob Schiff, the bantam wunderkind who propelled the firm to new heights with his work with "Ned" Harriman and the Union Pacific, and who gradually pushed his own father-in-law out. Both Paul and Felix Warburg married into the firm (the former to Nina Loeb, the latter to Frieda Schiff) and became prominent there. Otto Kahn married the daughter of Alfred Wolff, another partner, and helped propel it forward after Schiff died in 1920.
The endless marriages and dalliances can become tiresome, but I'm glad this book gave me a hint of the strange world of some of America's wealthiest and most influential families.
Admittedly, this book was published back in 1967, when journalistic standards were looser, but I came away from it not knowing how much to trust. Still, if one wanted a group biography of some of the most important families in American financial history, or even just in American history, this would be a good place to get the general sense of their success and travails. Although August Belmont (formerly Alfred Schonberg) was the first non-Sephardic Jew to move into New York high-finance, it was Joseph Seligman, who came from Bavarian and went into Eastern Pennsylvanian peddling under the tutelage of Asa Packer, and who soon brought his numerous brothers and sisters over and moved to Manhattan, who became the real center of the Jewish financial firmament. He was followed by many others. Meyer Guggenheim and his family came from the Heidelberg region of Switzerland and started peddling "on foot" in Eastern Pennsylvania (instead of "in a wagon," which the author claims became an important distinction between the German Jewish families). The Lehmans started in Alabama as brokers and stayed for years as commodities traders (even if they, luckily, established an office in New York before the Civil War) before tying up with Goldman Sachs. (Marcus Goldman also went to Eastern Pennslyvania, but the two firms finally divorced them in the '20s, as Sidney Weinberg and others at Goldman came to want independence for his firm.) After the Seligman firm and family, which declined with Joseph's death in 1880, the next most important for this stories is Kuhn, Loeb, whose original partners came from Germany and who ended up in Cincinnati involved in the textile trade. Intermarriages built up this firm more than any other of the era. Solomon Loeb's daughter Theresa married Jacob Schiff, the bantam wunderkind who propelled the firm to new heights with his work with "Ned" Harriman and the Union Pacific, and who gradually pushed his own father-in-law out. Both Paul and Felix Warburg married into the firm (the former to Nina Loeb, the latter to Frieda Schiff) and became prominent there. Otto Kahn married the daughter of Alfred Wolff, another partner, and helped propel it forward after Schiff died in 1920.
The endless marriages and dalliances can become tiresome, but I'm glad this book gave me a hint of the strange world of some of America's wealthiest and most influential families.
July 22, 2024
This was a remarkable book. I learned so much about the history of the Ashkenazi Jews, especially those who migrated to the US from Germany. It was also interesting to read how the German Jews and Eastern European/Russian Jews, interacted when the water came to the US in the early 20th century.
One of the things I enjoyed about this book was the focus on some of the individual families who came to the US from Germany, such as the Seligman’s, Schiffs, Lewihohsone and the Warburgs.
There was some discussion of the impact of antisemitism on the German Jews, who came to America. It appears that the two worst periods for this occurred shortly after the period of reconstruction following the US Civil War, and then in the early 20th century, especially during and shortly after World War I.
It’s a great read, and I highly recommend it, especially to those of the Jewish heritage who can trace their ancestry to the early 19th century .
One of the things I enjoyed about this book was the focus on some of the individual families who came to the US from Germany, such as the Seligman’s, Schiffs, Lewihohsone and the Warburgs.
There was some discussion of the impact of antisemitism on the German Jews, who came to America. It appears that the two worst periods for this occurred shortly after the period of reconstruction following the US Civil War, and then in the early 20th century, especially during and shortly after World War I.
It’s a great read, and I highly recommend it, especially to those of the Jewish heritage who can trace their ancestry to the early 19th century .
January 24, 2023
I was attracted to this book due to the many business and social relationships that existed between these families and some of Aiken's winter colonists, my area of historical interest. With the exception of Robert Lehman, who was associated with our Tommy Hitchcock, Jr., many of those depicted did not come to Aiken. However, Birmingham provides a well documented, detailed narrative of these well known families, prominent in the field of banking, who began with their humble history in Germany, followed by their courageous move to the U.S., where through persistence, modest living, and loyalty to family, and other factors, catapulted them to wealth and power. An informative and enjoyable learning experience. I highly recommend this inspiring story of American opportunity.
February 5, 2019
A well-researched and thoughtful narrative about various German-Jewish families who immigrated to America, settled mainly in NYC and created vast amounts of wealth. Many of these famous families had their start selling housewares and dry goods out of pushcarts while others, like August Belmont (founder of one of the MTA subway lines) were savvy and played with other people's money. Unfortunately, this book only held my interest half way before I had to put it down. An ambitious book, I feel that it could have been organized better, rather than chapters jumping back and forth between families / individuals.
June 10, 2022
This is the history of America's German Jews as told by Stephen Birmingham. Before the wave of Eastern European Jews came to the United States in the early 1900s and teens, there was already a well established Jewish community in New York City. This is their story and a history I was unfamiliar with. These are the Schiffs, the Sachses, the Loebs, the Cahns, the Belmonts
Seligmans, Lehmans, Strauses, Goldmans, and “perhaps” the Guggenheims. And this is the story of how they created a financial Empire in this country and challenged the likes of even Mrs. Aster for importance in the social scene. - I learned a whole lot about American Jewish history I never knew before.
Seligmans, Lehmans, Strauses, Goldmans, and “perhaps” the Guggenheims. And this is the story of how they created a financial Empire in this country and challenged the likes of even Mrs. Aster for importance in the social scene. - I learned a whole lot about American Jewish history I never knew before.
May 7, 2022
Immigrant German & Polish Jews Rise From Merchants of Cloth to Money
This historical biography was published more than 50 years ago but it outlines the first major European Jewish families to populate the northeast. All the characters are well developed. Most readers will recognize their names and enjoy learning of the impactful roles they played in developing America’s Financial Industry more than 200 years ago.
This historical biography was published more than 50 years ago but it outlines the first major European Jewish families to populate the northeast. All the characters are well developed. Most readers will recognize their names and enjoy learning of the impactful roles they played in developing America’s Financial Industry more than 200 years ago.
July 27, 2024
I hadn't realized when I started this history of the Jews in New York that it was written in 1967.
It's a comprehensive history of the Jewish immigrants who started with nothing and who made it big in New York.
The book shows how interconnected they were and why they had to be because there was, and still is today a bias and prejudice against Jews.
His exhaustive history explains why so many Jews went into banking and trades.
It's a comprehensive history of the Jewish immigrants who started with nothing and who made it big in New York.
The book shows how interconnected they were and why they had to be because there was, and still is today a bias and prejudice against Jews.
His exhaustive history explains why so many Jews went into banking and trades.
January 14, 2022
I love well-written histories, and for the amount of material, time span, and number of people/families that this book was about, the author did an excellent job of making them very real and giving you a good idea of who they were, and what their lives were like, as well as the situations if the world (time and place) that they navigated in.
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