Ernest Cassel
Encyclopedia
Sir Ernest Joseph Cassel, GCB
, GCMG
, GCVO
, PC (3 March 1852 – 21 September 1921) was a German-born British merchant banker and capitalist.
, Germany, Cassel was Jewish. His father Jacob Cassel owned a small bank, but the son Ernest arrived penniless in Liverpool
, England in 1869. There he found employment with a firm of grain merchants. With an enormous capacity for hard work and a natural business sense, Cassel was soon in Paris working for a bank. The Franco-Prussian War
forced him to move to a position in a London bank, as he was born in Prussia
.
He prospered and was soon putting together his own financial deals. His areas of interest were in mining
, infrastructure and heavy industry. Turkey was an early area of business ventures, but he soon had large interests in Sweden, the United States, South America, South Africa, and Egypt
.
One of the wealthiest men of his day, Cassel was a good friend of King Edward VII
, prime minister Herbert Asquith and Winston Churchill
. In 1878, he married Annette Mary M. Maxwell at Westminster. Their only child, Maude Cassel (1879–1911), married Wilfrid Ashley, 1st Baron Mount Temple.
Cassell became a Roman Catholic at the behest of his wife, but many still considered him a Jew. The establishment was surprised to find out that he had converted when he chose to be sworn in to the Privy Council with the Catholic Bible
.
Cassel retired from active financial operations in 1910. His philanthropic benefactions included £500,000 for educational purposes, £225,000 for a hospital for nervous diseases, £50,000 to King Edward's Hospital Fund in memory of his only child, besides large gifts during the First World War to the British Red Cross
. He also built and endowed an Anglo-German Institute in 1911 in memory of King Edward VII. He owned a castle in Switzerland, Riederfurka, to which it was possible to arrive on the back of a mule. When the inhabitants of the town nearby said they were going to make a better road to his property, he answered: "If you do, I'm not coming here anymore." Felix Somary
, who tells this anecdote in his autobiography, visited him there in 1914 to persuade him that war was inevitable.
Cassel had a famous art collection and many beautiful houses. He bred racehorses and owned Moulton Paddocks in Newmarket. After the early death of his wife Annette, his widowed sister Wilhemina (known as Bobbie) helped each other bring up his daughter and her son and daughter. His only child, Maude, also died as a young woman, leaving him two granddaughters on whom he doted, especially the eldest, Edwina
, who looked after him in his old age. She later married Lord Louis Mountbatten.
suggested that he demanded these as a return for his services. In 1899, he was made a Knight Commander of the Order of St Michael and St George
(KCMG). In 1901, he was made a Knight Commander of the Royal Victorian Order
(KCVO). In 1902, he was made a Privy Counsellor. In 1905, he was promoted to Knight Grand Cross of the Order of St Michael and St George (GCMG)
and, in 1906, he was promoted to Knight Grand Cross of the Royal Victorian Order (GCVO). In 1909, he was made a Knight Grand Cross of the Order of the Bath
(GCB).
Awards received in thanks for services to foreign governments included Commander, first class, of the Royal Order of Vasa
in 1900 from Sweden, the Grand Cordon of the Imperial Ottoman Order of Osmanieh in 1903, Commander of the Légion d'honneur
in 1906 from France, the Order of the Crown
, first class, in 1908 from Germany
, the Grand Cross of the Order of the Polar Star
in 1909 from Sweden, the Order of the Rising Sun
, first class, in 1911 from Japan and the Order of the Red Eagle
, first class with brilliants
in 1913 from Germany.
Cassel died at Brook House, Park Lane
, London. He and his wife are buried in Kensal Green Cemetery
, London, in a large grave in front of the Anglican All Souls' Chapel.
A few months after his death, Cassel's estate was probated at £6,000,000 (equivalent to £ today).
, now at No. 1 Ham Common, Ham
, near Richmond, London. The hospital is a therapeutic community for mental health patients; children, young people and families. It provides residential, day and outreach services. It is run by the NHS
.
Order of the Bath
The Most Honourable Order of the Bath is a British order of chivalry founded by George I on 18 May 1725. The name derives from the elaborate mediæval ceremony for creating a knight, which involved bathing as one of its elements. The knights so created were known as Knights of the Bath...
, GCMG
Order of St Michael and St George
The Most Distinguished Order of Saint Michael and Saint George is an order of chivalry founded on 28 April 1818 by George, Prince Regent, later George IV of the United Kingdom, while he was acting as Prince Regent for his father, George III....
, GCVO
Royal Victorian Order
The Royal Victorian Order is a dynastic order of knighthood and a house order of chivalry recognising distinguished personal service to the order's Sovereign, the reigning monarch of the Commonwealth realms, any members of her family, or any of her viceroys...
, PC (3 March 1852 – 21 September 1921) was a German-born British merchant banker and capitalist.
Biography
Born in CologneCologne
Cologne is Germany's fourth-largest city , and is the largest city both in the Germany Federal State of North Rhine-Westphalia and within the Rhine-Ruhr Metropolitan Area, one of the major European metropolitan areas with more than ten million inhabitants.Cologne is located on both sides of the...
, Germany, Cassel was Jewish. His father Jacob Cassel owned a small bank, but the son Ernest arrived penniless in Liverpool
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
, England in 1869. There he found employment with a firm of grain merchants. With an enormous capacity for hard work and a natural business sense, Cassel was soon in Paris working for a bank. The Franco-Prussian War
Franco-Prussian War
The Franco-Prussian War or Franco-German War, often referred to in France as the 1870 War was a conflict between the Second French Empire and the Kingdom of Prussia. Prussia was aided by the North German Confederation, of which it was a member, and the South German states of Baden, Württemberg and...
forced him to move to a position in a London bank, as he was born in Prussia
Prussia
Prussia was a German kingdom and historic state originating out of the Duchy of Prussia and the Margraviate of Brandenburg. For centuries, the House of Hohenzollern ruled Prussia, successfully expanding its size by way of an unusually well-organized and effective army. Prussia shaped the history...
.
He prospered and was soon putting together his own financial deals. His areas of interest were in mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
, infrastructure and heavy industry. Turkey was an early area of business ventures, but he soon had large interests in Sweden, the United States, South America, South Africa, and Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
.
One of the wealthiest men of his day, Cassel was a good friend of King Edward VII
Edward VII of the United Kingdom
Edward VII was King of the United Kingdom and the British Dominions and Emperor of India from 22 January 1901 until his death in 1910...
, prime minister Herbert Asquith and Winston Churchill
Winston Churchill
Sir Winston Leonard Spencer-Churchill, was a predominantly Conservative British politician and statesman known for his leadership of the United Kingdom during the Second World War. He is widely regarded as one of the greatest wartime leaders of the century and served as Prime Minister twice...
. In 1878, he married Annette Mary M. Maxwell at Westminster. Their only child, Maude Cassel (1879–1911), married Wilfrid Ashley, 1st Baron Mount Temple.
Cassell became a Roman Catholic at the behest of his wife, but many still considered him a Jew. The establishment was surprised to find out that he had converted when he chose to be sworn in to the Privy Council with the Catholic Bible
Catholic Bible
The Catholic Bible is the Bible used by Catholics and typically refers to the Douay-Rheims Bible , or to those Bible translations which contain the deuterocanonical books found in the Latin Vulgate —just as "Protestant Bible" refers to translations descended from the Tyndale Bible and...
.
Cassel retired from active financial operations in 1910. His philanthropic benefactions included £500,000 for educational purposes, £225,000 for a hospital for nervous diseases, £50,000 to King Edward's Hospital Fund in memory of his only child, besides large gifts during the First World War to the British Red Cross
British Red Cross
The British Red Cross Society is the United Kingdom branch of the worldwide impartial humanitarian organisation the International Red Cross and Red Crescent Movement. The society was formed in 1870, and is a registered charity with over 31,000 volunteers and 2,600 staff. At the heart of their work...
. He also built and endowed an Anglo-German Institute in 1911 in memory of King Edward VII. He owned a castle in Switzerland, Riederfurka, to which it was possible to arrive on the back of a mule. When the inhabitants of the town nearby said they were going to make a better road to his property, he answered: "If you do, I'm not coming here anymore." Felix Somary
Felix Somary
Felix Somary was an Austrian-Swiss banker; he is also noted as a student of political economy...
, who tells this anecdote in his autobiography, visited him there in 1914 to persuade him that war was inevitable.
Cassel had a famous art collection and many beautiful houses. He bred racehorses and owned Moulton Paddocks in Newmarket. After the early death of his wife Annette, his widowed sister Wilhemina (known as Bobbie) helped each other bring up his daughter and her son and daughter. His only child, Maude, also died as a young woman, leaving him two granddaughters on whom he doted, especially the eldest, Edwina
Edwina Mountbatten, Countess Mountbatten of Burma
Edwina Cynthia Annette Mountbatten, Countess Mountbatten of Burma,, GBE, DCVO, CI, DStJ was an English heiress, socialite, relief-worker, wife of Louis Mountbatten, 1st Earl Mountbatten of Burma, and last Vicereine of India.- Lineage and wealth :Edwina Mountbatten, Countess Mountbatten of Burma...
, who looked after him in his old age. She later married Lord Louis Mountbatten.
Honours
Cassel's friendship with the King and achievements in international finance earned him many British and foreign honours. Contemporary society gossipGossip
Gossip is idle talk or rumour, especially about the personal or private affairs of others, It is one of the oldest and most common means of sharing facts and views, but also has a reputation for the introduction of errors and variations into the information transmitted...
suggested that he demanded these as a return for his services. In 1899, he was made a Knight Commander of the Order of St Michael and St George
Order of St Michael and St George
The Most Distinguished Order of Saint Michael and Saint George is an order of chivalry founded on 28 April 1818 by George, Prince Regent, later George IV of the United Kingdom, while he was acting as Prince Regent for his father, George III....
(KCMG). In 1901, he was made a Knight Commander of the Royal Victorian Order
Royal Victorian Order
The Royal Victorian Order is a dynastic order of knighthood and a house order of chivalry recognising distinguished personal service to the order's Sovereign, the reigning monarch of the Commonwealth realms, any members of her family, or any of her viceroys...
(KCVO). In 1902, he was made a Privy Counsellor. In 1905, he was promoted to Knight Grand Cross of the Order of St Michael and St George (GCMG)
and, in 1906, he was promoted to Knight Grand Cross of the Royal Victorian Order (GCVO). In 1909, he was made a Knight Grand Cross of the Order of the Bath
Order of the Bath
The Most Honourable Order of the Bath is a British order of chivalry founded by George I on 18 May 1725. The name derives from the elaborate mediæval ceremony for creating a knight, which involved bathing as one of its elements. The knights so created were known as Knights of the Bath...
(GCB).
Awards received in thanks for services to foreign governments included Commander, first class, of the Royal Order of Vasa
Order of Vasa
The Royal Order of Vasa was a Swedish Royal order of chivalry, awarded to citizens of Sweden for service to state and society especially in the fields of agriculture, mining and commerce. It was instituted on 29 May 1772 by King Gustav III of Sweden...
in 1900 from Sweden, the Grand Cordon of the Imperial Ottoman Order of Osmanieh in 1903, Commander of the Légion d'honneur
Légion d'honneur
The Legion of Honour, or in full the National Order of the Legion of Honour is a French order established by Napoleon Bonaparte, First Consul of the Consulat which succeeded to the First Republic, on 19 May 1802...
in 1906 from France, the Order of the Crown
Order of the Crown (Prussia)
The Order of the Crown was Prussia's lowest ranking order of chivalry. Instituted in 1861 as an award equal in rank to the Order of the Red Eagle, it could only be awarded to commissioned officers , but there was a medal associated with the order which could be earned by non-commissioned officers...
, first class, in 1908 from Germany
German Empire
The German Empire refers to Germany during the "Second Reich" period from the unification of Germany and proclamation of Wilhelm I as German Emperor on 18 January 1871, to 1918, when it became a federal republic after defeat in World War I and the abdication of the Emperor, Wilhelm II.The German...
, the Grand Cross of the Order of the Polar Star
Order of the Polar Star
The Order of the Polar Star is a Swedish order of chivalry created by King Frederick I of Sweden on 23 February 1748, together with the Order of the Sword and the Order of the Seraphim....
in 1909 from Sweden, the Order of the Rising Sun
Order of the Rising Sun
The is a Japanese order, established in 1875 by Emperor Meiji of Japan. The Order was the first national decoration awarded by the Japanese Government, created on April 10, 1875 by decree of the Council of State. The badge features rays of sunlight from the rising sun...
, first class, in 1911 from Japan and the Order of the Red Eagle
Order of the Red Eagle
The Order of the Red Eagle was an order of chivalry of the Kingdom of Prussia. It was awarded to both military personnel and civilians, to recognize valor in combat, excellence in military leadership, long and faithful service to the kingdom, or other achievements...
, first class with brilliants
Brilliant (diamond cut)
A brilliant is a diamond or other gemstone, cut in a particular form with numerous facets so as to have exceptional brilliance. The shape resembles that of a cone and provides maximized light return through the top of the diamond....
in 1913 from Germany.
Park Lane (road)
Park Lane is a major road in the City of Westminster, in Central London.-History:Originally a country lane running north-south along what is now the eastern boundary of Hyde Park, it became a fashionable residential address from the eighteenth century onwards, offering both views across Hyde Park...
, London. He and his wife are buried in Kensal Green Cemetery
Kensal Green Cemetery
Kensal Green Cemetery is a cemetery in Kensal Green, in the west of London, England. It was immortalised in the lines of G. K. Chesterton's poem The Rolling English Road from his book The Flying Inn: "For there is good news yet to hear and fine things to be seen; Before we go to Paradise by way of...
, London, in a large grave in front of the Anglican All Souls' Chapel.
A few months after his death, Cassel's estate was probated at £6,000,000 (equivalent to £ today).
Legacy
In 1919, Cassel founded and endowed the Cassel HospitalCassel Hospital
The Cassel Hospital was founded and endowed by Ernest Cassel in England in 1919. It was initially for the treatment of "shell shock" victims. Originally in Penshurst, Kent, it moved to Stoke-on-Trent during World War II. In 1948 it relocated to its present site at No...
, now at No. 1 Ham Common, Ham
Ham, London
Ham is a district in the London Borough of Richmond upon Thames on the River Thames.- Location :Its name derives from the Old English word Hamme meaning place in the bend in the river. Together with Petersham, Ham lies to the east of the bend in the river south of Richmond and north of Kingston...
, near Richmond, London. The hospital is a therapeutic community for mental health patients; children, young people and families. It provides residential, day and outreach services. It is run by the NHS
National Health Service (England)
The National Health Service or NHS is the publicly funded healthcare system in England. It is both the largest and oldest single-payer healthcare system in the world. It is able to function in the way that it does because it is primarily funded through the general taxation system, similar to how...
.