Hall, Henry, ed. America's Successful Men of Affairs: An Encyclopedia of Contemporaneous Biography. vol. 1. New York, NY: New York Printing Co., 1895. page 557
VICTOR HENRY ROTHSCHILD, manufacturer and merchant, has attained a deservedly high rank among the self-made men of America. Born at Nordstetten, in the depths of the Black Forest, Wurtemberg, Germany, April 6, 1835, he was the oldest of a family of seven children. He received at that place a public school education and then entered the employment of his father, a retail dry goods merchant. He remained with him four years, working hard and devoting his spare hours to study and self-cultivation. Like hundreds of other young Germans, however, he longed for a more extended sphere in which to display the business ability, which he felt he possessed, and, preparatory to his starting for this country, devoted himself industriously to the study of English. Thus, when he emigrated, in 1852, he had a fair command of the language, and this he continued to improve by study and practice at his new home in Fort Wayne, Ind. By dint of unwearying energy and the knowledge of American business methods he had managed to acquire, aided by the strictest economy (his purse contained only eight silver dollars on his arrival in Fort Wayne), he was enabled in a comparatively short time to start in business on his own account. His first independent essay as a merchant was in the sale of optical goods, with which he traveled from town to town in Ohio and Indiana, his modest wagon being his store and warehouse. Gradually, he added fancy goods and notions to his stock in trade and before long was in a Condition to sell with advantage to consumers and small country stores. In 1854, he was induced by his brother-in-law to go to Mount Carroll, Ill., where the latter established a dry goods store in Mr. Rothschild's name. Meantime, the young merchant, determined not to abandon his old business because of his change of location, continued his sales of optical and fancy goods in the then new West, and prospered so well that he sent for his younger brother, Marx, to join him in the new world. But, while he prospered, his brother-in-law met with disaster, and in the panic of 1857 went into bankruptcy, causing Mr. Rothschild the loss of about $18,000 which he had advanced from time to time, as well as $38,000 of debts contracted in his name. Undaunted by disaster, Mr. Rothschild and his brother Marx started South as soon as they could get clear of the wreck, and finally settled in Georgia, trying Macon first, and then Hawkinsville. In the latter place, they opened a general store, stocking it with dry goods, groceries and miscellaneous merchandise, and were soon once more on the road to prosperity.
This was just before the outbreak of the War of the Rebellion. At about this time, news was received from Germany of the illness of their father; and Marx instantly started for his old home, although his presence here was greatly needed.
Then came the War with all its horrors, and Mr. Rothschild was compelled to abandon his prosperous business and go to New York. Here, finding that the indebtedness of $38,000, accumulated in his name by his brother-in-law, had not been met, he settled it at great personal sacrifice, dollar for dollar, out of his Southern savings. For a year or more, his business activity was suspended, but in 1863, and through a mere coincidence, he began the manufacture of negligé shirts, then an entirely new industry, at No. 122 Chambers street. This enterprise was markedly successful from the very start and has gradually attained large dimensions.
About this time, his brother returned from Germany and for the next four years their trade increased with wonderful rapidity. In 1868, they found it necessary to enlarge their plant greatly and accordingly rented additional quarters at No. 48 Leonard street, which were further supplemented in 1870 by another addition at No. 46 Leonard street. This gave their establishment a frontage of seventy-five feet and added largely to their manufacturing facilities. Up to 1869, the firm did business under the name of Rothschild Bro's, but, in that year, Simeon Gutman was admitted to partnership and the name changed to Rothschild Bro's & Gutman. In 1877, the partnership dissolved by mutual consent, V. Henry Rothschild liquidating its affairs and continuing alone until 1880, when Isaac Dreyfus was admitted as a partner, and the firm became V. Henry Rothschild & Co.
During this year, 1880, The Central Real Estate Association erected the building at the corner of Leonard street and West Broadway, especially designed for the manufacture of shirts, and this building was leased by the firm for a term of years. In 1892, Mr. Rothschild bought the building, and realizing that yet more room was needed, the firm rented a large modern factory building, Nos. 5 to 15 Sullivan street, to be used for manufacturing, warehousing and shipping. The premises at West Broadway and Leonard street were then changed into a well equipped office building, the firm retaining the second floor for their sale and counting rooms. It is now known as the "Rothschild Building," and ranks high among the spacious, costly and convenient office buildings, with which New York is equipped. Mr. Rothschild is also a large holder of other valuable real estate in the city of New York. The firm in recent years have added largely to the variety of goods they manufacture, and now make shirts of every kind, trousers, ladies' waists, etc., etc. Some idea of the vastness of this business may be gathered from these figures: The salesrooms at Leonard street and West Broadway and the factories on Sullivan street employ directly and indirectly over 1,500 people, while an additional factory at Freehold, N.J., gives employment to over 1,500 more. In addition to this, the Board of Trade of Trenton, N.J., contemplate the construction of another factory, which, when completed, will employ as many hands as the Freehold factory. It may safely be said then that the firm gives work directly and indirectly to about 7,000 persons. Mr. Rothschild has always taken a deep and kindly interest in the welfare of the people who work for him, and many of the Freehold operatives live in modern houses, built expressly for them, each accommodating a family of six or eight persons. These are let to employes at a nominal rental of $6 or $7 a month, according to size.
While Mr. Rothschild has been too busy a man all his life to take any active interest in politics, no man is more keenly alive to the affairs of the city, of which he is one of the highly respected citizens, wielding a commanding influence in the business world. In the recent fight for reform in New York, he was not backward in lending aid to the good cause. During 1889, he served as a director of The Seventh National Bank, but resigned as soon as the year expired, explaining that the demands of his enormous business were so pressing that he had no spare time at his disposal. He has often been solicited to take part in the management of prominent financial institutions, but for the same reason has been compelled to decline. But he does find time for charity, and in a quiet way has done a large amount of good among the poor, during the last quarter of a century. Since 1872, he has been a director of Mt. Sinai Hospital and the Montefiore Home for Incurables and is interested in many other leading institutions.
He married Miss Josephine Wolfe, daughter of Jacob Wolfe, a retired merchant of New York, in 1866, and lives at No. 4 East 57th street, and his handsomely appointed home, his fine library, and collection of paintings bear witness to his artistic tastes.
His eldest son, V. Sydney Rothschild, is a graduate of Harvard and will later become a member of the firm. A daughter was married April 3, 1895, to Mr. S. R. Guggenheim, president of The Great National Smelting Co., of Monterey, Mexico. The other members of the family are the Misses Gertrude and Constance Lily, two exceptionally attractive girls, the latter at present a student at Wellesley College, and Clarence G., a younger son.
Mr. Rothschild is essentially a home man and has never been what is generally called a club man. He has, however, long been a member of the Harmonie and Players' clubs and the Board of Trade & Transportation. He is a man of strong presence, with a determined will and a kindly manner, which carries everything before it. His untiring energy and his enthusiastic manner of forging ahead, always into new and unexplored fields, are the envy of the younger men about him. Stern and severe at times, asserting his opinions whether right or wrong, by a kindly smile he at once dispels any ill feeling and adds his recent opponent to his large retinue of steadfast friends.
