Baring Brothers and the Birth of Modern Finance. By Peter F. Austin. London: Pickering & Chatto, 2007. xiii + 265 pp. Illustrations, figures, tables, bibliography, notes, index. Cloth, $99.00. ISBN: 978-1-851-96922-7.
Reviewed by Martin Horn
Once upon a time, private partnerships stood at the apex of international finance. The Rothschilds, the Morgans, the Warburgs, the Barings, and others, all merchant bankers, channeled money globally. Rothschild, if no longer a partnership, is still in private hands. J. P. Morgan is now the behemoth J. P. Morgan Chase. M. M. Warburg & Co. remains a private partnership. As for Barings, it has disappeared, a casualty of the Nick …
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