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Jacob Schiff and the Art of RiskIntroduction

Jacob Schiff and the Art of Risk: Introduction [In 1904, JapanJapan waged war against an ostensibly more powerful opponent, the Russian empireRussian empire. A significant component in Japan’s victory was the financial support facilitated by Jacob Henry SchiffSchiff, Jacob Henry (1847–1920), an American JewishJewish banker who was born in Germany. Schiff has been described, in the context of the Russo-Japanese WarRusso-Japanese War, as primarily motivated by hostility to Russia, stemming from the tsarist government’s ill-treatment of its JewsJews. While this is certainly true, the case to be presented here is that Schiff’s motivations were diverse yet in his mind of one piece, and that as a prominent banker his diligence was rigorous in ensuring risks were mitigated. Additionally, Schiff’s unusually affirmative attitude towards Japan in the early twentieth century was at least as important in underpinning his actions, and perhaps an even greater counterweight, than his animus against an antisemitic Russia.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Jacob Schiff and the Art of RiskIntroduction

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2018
ISBN
978-3-319-90265-4
Pages
1 –22
DOI
10.1007/978-3-319-90266-1_1
Publisher site
See Chapter on Publisher Site

Abstract

[In 1904, JapanJapan waged war against an ostensibly more powerful opponent, the Russian empireRussian empire. A significant component in Japan’s victory was the financial support facilitated by Jacob Henry SchiffSchiff, Jacob Henry (1847–1920), an American JewishJewish banker who was born in Germany. Schiff has been described, in the context of the Russo-Japanese WarRusso-Japanese War, as primarily motivated by hostility to Russia, stemming from the tsarist government’s ill-treatment of its JewsJews. While this is certainly true, the case to be presented here is that Schiff’s motivations were diverse yet in his mind of one piece, and that as a prominent banker his diligence was rigorous in ensuring risks were mitigated. Additionally, Schiff’s unusually affirmative attitude towards Japan in the early twentieth century was at least as important in underpinning his actions, and perhaps an even greater counterweight, than his animus against an antisemitic Russia.]

Published: Jun 20, 2018

Keywords: Hong Kong And Shanghai Banking Corporation (HSBC); Gold standardGold Standard; Japanese Loans; Broader Jewish Community; Japanese Return

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