142:, he negotiated a sizable loan for the Russian Empire on behalf of Austria-Hungary only to refuse a decoration the Russians offered him. He informed the Russian ambassador that while he conducted the negotiations as a banker at the request of his government, he wouldn't accept a mark of favor from a country that persecuted and massacred Jews as Russia did during the
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102:. In 1895, after manipulating the bank's dividend and creating an artificial panic, he was temporarily so unpopular he went on vacation abroad. He explained his actions as for the country's economic good, and his bank's industrial prominence made this excuse appear probable. He then returned to Budapest and came up with a plan to
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while working in Vienna. In 1878, the
Rothschilds rescued the Hungarian General Credit Bank from insolvency in addition to appointing Kornfeld as general manager. That year, he and the Rothschilds organized a 150 million crown loan for the all-but-bankrupt Hungarian state. In 1881, 1888, and 1892, he
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In 1879, Kornfeld married Betty
Frankfurter (1858–1938) in Vienna. Their children were Gyorgy (1880–1901), Maria (1881–1939), Moric (1882–1967), Pal (1884–1958), and Ferenic (1897–1945). Pal succeeded his father as director of the Hungarian General Credit Bank, Moric was director of the machine
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arranged the favorable conversion of
Hungary's state debt, turning the Credit Bank into Hungary's de facto state bank. Under him, the bank became involved in railway, shipping, flour-milling, and sugar-milling enterprises as well as the development of the port of
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with the title of baron. A patron and collector of the arts, he purchased the
Franklin Company, Hungary's main publishing house, and placed emphasis on genuine quality. In 1914, his maritime company named a steamship after him, although it was renamed
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Kornfeld helped put the
Hungarian state on a sound basis, introduce the gold standard, secure gold reserves, and issue bonds. One company he helped found was the Hungarian River and Ocean Navigation Company, which controlled traffic on the
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In addition to debt conversions for
Hungary in 1888 and 1892, Kornfeld managed a currency reform in 1894. In 1891, as a result of his bank's industrial prominence, he was appointed to the governing body of the
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factory and shipyard company
Danubias, and Maria was married to the director of the Royal River and Ocean Ship Company Knight V. Domony.
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the Stock
Exchange, which until then conducted business in German. He was elected President of the Exchange on his reform platform.
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150:. He also supported the National Israelite Teacher’s Union and built a synagogue on his estate in what later became Slovakia.
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146:. He also refused any remuneration for his role in the transaction. In 1893, he became deputy president of the Budapest
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27:(27 March 1852 – 24 March 1909) was a Bohemian-born Jewish Hungarian banker, economist, and baron.
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54:. Following a short trip to Paris in 1872, he began working for the Böhmischer Bankverein in
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attended the funeral. Chief Cantor
Professor Lazarus led the funeral service at the
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Kornfeld left school when he was sixteen to work in the Torsch Bank House in
197:(in German). Verlag der Österreichischen Akademie der Wissenschaften. 2003.
47:. His uncle was Aharon Kornfeld, the last great head of a Bohemian Yeshiva.
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78:. He became its managing director in 1900 and its president in 1905.
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58:. He was promoted to vice manager of the local branch of the Vienna
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Kornfeld previously established close contacts with the
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The
Hungarians: A Thousand Years of Victory in Defeat
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A practicing Jew, Kornfeld was vice-president of the
433:"Recent Distinguished Victims of the Grim Reaper"
114:in Hungary until at least 1941. In 1902, Emperor
66:appointed him to direct its partner institution,
138:and an active philanthropist. On the eve of the
122:. In 1909, the Emperor made him a member of the
286:. Translated by Major, Ann. Princeton, N.J.:
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318:Jewish Nobles and Geniuses in Modern Hungary
157:Kornfeld died in Budapest on 24 March 1909.
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476:People from Havlíčkův Brod District
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342:The Universal Jewish Encyclopedia
521:Members of the House of Magnates
511:Economists from Austria-Hungary
321:. pp. 148–151 – via
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92:Ganz Iron and Machinery Works
68:Hungarian General Credit Bank
501:Bankers from Austria-Hungary
411:"Jewish Nobility in Hungary"
387:"MAGYAR FŐNEMESSÉGI ADATTÁR"
496:20th-century Hungarian Jews
491:19th-century Hungarian Jews
315:McCagg, William O. (1972).
62:four years later. In 1878,
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288:Princeton University Press
486:Jews from Austria-Hungary
90:and the expansion of the
194:Kornfeld, Siegmund Baron
159:Hungarian Prime Minister
20:Zsigmond Kornfeld (1902)
441:Historical Jewish Press
419:Historical Jewish Press
100:Budapest Stock Exchange
531:Nobility from Budapest
280:Lendvai, Paul (2003).
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118:appointed him to the
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361:"Kornfeld, Zsigmond"
290:. pp. 340–341.
252:"Kornfeld, Zsigmond"
415:The Reform Advocate
140:Russo-Japanese War
124:Hungarian nobility
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516:Jewish economists
471:Jews from Bohemia
297:978-1-4008-5152-2
257:YIVO Encyclopedia
204:978-3-7001-3213-4
120:House of Magnates
83:Rothschild family
64:Albert Rothschild
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372:2022-05-22
263:2022-05-21
210:2022-05-21
176:References
229:ignored (
219:cite book
131:in 1914.
104:Magyarize
391:macse.hu
148:kehillah
72:Budapest
136:Neologs
76:Hungary
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166:Bourse
112:Danube
56:Prague
52:Vienna
129:Turán
88:Fiume
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31:Life
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