August Belmont, originally named
August Schönberg, was born December 8, 1816, in Alzey, Rhenish Prussia
At age 14, Belmont entered the
banking house of the Rothschilds at Frankfurt am Main, and he later transferred
to the Naples office. In 1837, he moved to New York and opened a small office
on Wall Street, where he served as the American agent for the Rothschilds and
laid the foundations for his own banking house.
From 1853 to 1855 he was chargé
d’affaires for the United States at The Hague, and from 1855 to 1857, he served
as resident minister there. After the American Civil War began, Belmont became
a loyal supporter of President Abraham Lincoln and exerted strong influence
upon merchants and financiers in England and France in favor of the Union. He
also served as chairman of the Democratic National Committee from 1860 to 1872.
Belmont was a fixture of New York’s
high society. He was also a prominent figure in the establishment of
Thoroughbred horse racing in the United States as a major financer of the first
Belmont Stakes, part of the trio of races that compose the American Triple
Crown. The event was subsequently named in his honor.
His son, August Belmont, Jr. took a
prominent part in financing and building the New York subway, was a major owner
and breeder of Thoroughbred racehorses. Belmont Jr. organized the Westchester
Racing Association in 1895. In 1905, he built Belmont Park racetrack in Elmont,
on Long Island which operates to this day as the largest thoroughbred racing
facility in the state.
Belmont Jr. spent his last years on
his 1,100-acre estate in North Babylon, New York. His widow, Eleanor, then sold
most of the estate to a property developer. The remaining 158 acres including
the family mansion, lake, and main farm buildings, were taken over by New York
State. Under the control of planner Robert Moses, the estate was later expanded
to 459 acres and turned into Belmont Lake State Park. The mansion served as
headquarters for the Long Island State Park Commission until 1935, when it was
demolished to make way for the current building.
Sources:
“August
Belmont Jr.” Wikipedia, Wikimedia Foundation, 20 May 2019,
en.wikipedia.org/wiki/August_Belmont_Jr.
Drager,
Marvin. “August Belmont.” Encyclopædia Britannica, Encyclopædia
Britannica, Inc., www.britannica.com/biography/August-Belmont