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2017
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Publié par
Date de parution
19 avril 2017
Nombre de lectures
0
EAN13
9781611177374
Langue
English
The steady hand that kept Proust financially afloat despite speculative ventures and extravagant pursuits of love
What Marcel Proust wanted from life most of all was unconditional requited love, and the way he went after it—smothering the objects of his affection with gifts—cost him a fortune. To pay for such extravagance, he engaged in daring speculations on the stock exchange. The task of his cousin and financial adviser, Lionel Hauser, was to make sure these speculations would not go sour. In Proust and His Banker, Gian Balsamo reveals that Proust was quite aware of the advantageous trade-off between financial indulgence and artistic inspiration; his liberal squandering of money provided the grist for fictional characters and incidents of surprising effectiveness, both in the artistic sphere and later on in the commercial one. But Hauser was not aware of this odd aspect of Proust's creativity, nor could he have been since the positive returns from the writer's masterpieces were late in coming.
Focusing on more than 350 letters between Proust and Hauser and drawing on records of the Rothschild Archive and financial data assembled from the twenty-one-volume Kolb edition of Proust's letters, Balsamo reconstructs Proust's finances and provides a fascinating window into the writer's creative and speculative process. Balsamo carefully follows Proust's financial activities, including investments ranging from Royal Dutch Securities to American railroads to Eastern European copper mines, his exchanges with various banks and brokerage firms, his impetuous gifts, and the changing size and composition of his portfolio. Successes and failures alike provided material for Proust's fiction, whether from the purchase of an airplane for the object of his affections or the investigation of a deceased love's intimate background. Proust was, Balsamo concludes, a master at turning financial indulgence into narrative craftsmanship, economic costs into artistic opportunities.
Over the course of their fifteen-year collaboration, the banker saw Proust squander three-fifths of his wealth on reckless ventures and on magnificent presents for the men and women who struck his fancy. To Hauser the writer was a virtuoso in resource mismanagement. Nonetheless, Balsamo shows, we owe it to the altruism of this generous relative, who never thought twice about sacrificing his own time and resources to Proust, that In Search of Lost Time was ever completed.
Publié par
Date de parution
19 avril 2017
Nombre de lectures
0
EAN13
9781611177374
Langue
English
Proust and His Banker
Proust HIS BANKER
IN SEARCH OF TIME SQUANDERED
Gian BALSAMO
2017 University of South Carolina
Published by the University of South Carolina Press
Columbia, South Carolina 29208
www.sc.edu/uscpress
26 25 24 23 22 21 20 19 18 17 10 9 8 7 6 5 4 3 2 1
Library of Congress Cataloging-in-Publication Data can be found at http://catalog.loc.gov/
ISBN 978-1-61117-736-7 (hardcover) ISBN 978-1-61117-737-4 (ebook).
To my maestro di economia in Torino, Bruno Contini. To my mathematical nemesis in Minneapolis, Tom Sargent. And to you as always and everywhere, A. B.
CONTENTS
L IST OF I LLUSTRATIONS AND F IGURES
P REMISE
A CKNOWLEDGMENTS
N OTE ON T RANSLATIONS , A DOPTED E DITIONS , C URRENCY E XCHANGE R ATES, AND C ONVENTIONS
I NTRODUCTION
CHAPTER 1
T HE S ENTIMENTAL F INANCIER
CHAPTER 2
O LD M ISTRESSES FROM THE S TOCK E XCHANGE
CHAPTER 3
A F RIEND S H EART
CHAPTER 4
E NTER A LBERT N AHMIAS
CHAPTER 5
S UCKERS AND B ELIEVERS
CHAPTER 6
B LIND E YES
CHAPTER 7
E NTER A LFRED A GOSTINELLI
CHAPTER 8
A W ING S W ILD B LOW
CHAPTER 9
E NTER A LBERTINE S IMONET
CHAPTER 10
W ARTIME F INANCE
CHAPTER 11
T HE C OBBLER AND THE B ANKER
CHAPTER 12
A R UINED M AN
CHAPTER 13
O PIUM AND D YNAMITE
CHAPTER 14
T HE C RY OF THE V ALKYRIES
CHAPTER 15
T HE M ISTRUST OF F RIENDSHIP
CHAPTER 16
E NTER H ENRI R OCHAT
CHAPTER 17
A F AIRY -T ALE P RINCESS AND AN A MERICAN T ENNIS P LAYER
CHAPTER 18
I N S EARCH OF T IME S QUANDERED
CHAPTER 19
T HE T HREE L EVERS OF THE N EW W ORLD
CHAPTER 20
T URNING C ARESSES INTO G OLD
CHAPTER 21
L OVE S B OOKKEEPER
CHAPTER 22
M ISSION A CCOMPLISHED
CHAPTER 23
W ORDS LIKE A H AIL OF B LOWS
CHAPTER 24
F INANCIAL C OMEBACK
CHAPTER 25
A R ELATIVITY T HEORY OF S EX
CHAPTER 26
S UICIDAL O BSTINACY
CHAPTER 27
A RS L ONGA , V ITA B REVIS
N OTES
W ORKS C ITED
I NDEX
ILLUSTRATIONS AND FIGURES
ILLUSTRATIONS
1 .
G IOVANNI B OLDINI , L E C OMTE R OBERT DE M ONTESQUIOU (1897)
2 .
M ARCEL P ROUST AT THE G ARRISON IN O RL ANS
3 .
J AMES T ISSOT , L E C ERCLE DE LA RUE R OYALE (1867)
4 .
C LESTE A LBARET
5 .
E L G RECO , B URIAL OF C OUNT D O RGAZ (1588)
6 .
M ARCEL P ROUST S R OTHSCHILD PORTFOLIO AT HIS DEATH . D ECEMBER 31, 1922
7 .
M A TRE R EN B ARILLOT S LETTER TO THE R OTHSCHILD BROTHERS , J ANUARY 31, 1923
FIGURES
1 .
P ROUST S NET WORTH (1907-1921)
2 .
F RENCH INFLATION RATE (1907-1921)
3 .
P ROUST S NET WORTH (1911-1921) RELATIVE TO 1915
PREMISE
Four years before his death, Marcel Proust was still a self-published novelist. Over the course of their fifteen-year-long collaboration, his financial advisor Lionel Hauser had seen him squander three-fifths of his wealth on reckless speculations and magnificent gifts to the men and women who struck his fancy. During World War I it fell upon Hauser to stem the damage. To Hauser, time was money: Proust wasted a great deal of both time and money, gambling on the stock exchange, whiling away his days in bed as he wrote about time s ephemeral flow, or buying British cars, fabulous clothing-even an airplane!-for Alfred Agostinelli, Henri Rochat, and other such heartthrobs. For the occasional jewel to the occasional girlfriend, he sought inspiration at Cartier s.
The banker could not know what you will learn from this book, namely, that time and money (and good health as well) were mere assets to Proust to be sacrificed to the success of his artwork. Hauser saw in the writer a foolish squanderer, a virtuoso in resource mismanagement. But Proust s worldview was different. Lost Time was not only, to him, a subject worthy writing about for a whole lifetime, but also the sextant of human existence, the measure of our adjustment to its transiency. He was willing to gamble everything on this idea, from the substantial wealth he inherited from his family to the scarce amount of time his poor health allowed him to devote to his artwork.
And in the long run, Lost Time showed him the right course of action. Meanwhile (if you don t mind my sticking with the figure of the sextant), Lost Money provided him with the orientation of a magnetic pole. Here is how.
Many of Proust s losses on the stock exchange inspired him to write vital episodes of his novel, In Search of Lost Time , or to fashion its most important characters. The futility of his conspicuous expenses on Agostinelli and Rochat, for instance, gave birth to his best female character, the pink-tongued and fat-cheeked Albertine Simonet, whose cagey behavior filled him, her creator, with real jealousy, and whose premature death filled him with true grief. Another source of inspiration for Albertine Simonet sprouted from Proust s assiduous courtship of the stunning yet untalented actress Louisa de Mornand, met in a brothel, who figured, on at least one occasion, as his sexual partner in-how shall I put it?-a narcoleptic sort of intercourse. The inspiration Proust drew from Louisa de Mornand more than rewarded him for the large amounts of time, money, and personal influence (and personal embarrassment as well, on occasion) which he devoted to the success of her acting career. In addition, the most irresponsible of Proust s financial speculations became the risky investments made by his novel s protagonist to cover the costs for turning Albertine, the acerbic beach nymph, into his urban captive, a refined woman of fashion-an undertaking which eventually left him with barely one fifth of his original patrimony (versus the two-fifths left Proust in real life during World War I).
With Proust, in sum, waste was the renewable resource that kept on giving. I m sure I won t be getting ahead of myself if I pitch in some more evidence.
The long years that Proust squandered as an unemployed aesthete and underachieving homme du monde helped him give shape to the character that made his initial fame as a best-selling author: Charles Swann, an amateur and procrastinating art critic who was also modeled on the real-life Charles Haas, a gentleman for whom lack of an occupation was a matter of principle. It is because of his dandified and ineffectual erudition as an art historian that Charles Swann is welcome in the same aristocratic circles, well above his family s standing, that were frequented by the idle would-be writer Marcel Proust. Even Charles Swann s marriage to the courtesan Odette de Cr cy, so out-of-character and ruinous to his reputation, is redolent of asset mismanagement. Unable to endure Odette s infidelities or his own undignified, nagging jealousy of her, Swann weds her. And, promptly, their domestic m nage portrays, in Proust s novel, the pecuniary arrangement worthy of people who, like the banker Lionel Hauser, deal with passion and devotion in the spirit of accountants. Based on the way Proust rated Hauser s tolerance of his erotic drives in the summer of 1918, one could say that Swann, the former ladies man, joins eventually the ranks of love s bookkeepers-a sort of blunder for which his creator refused to be a model.
The character of Odette de Cr cy, who makes a career out of her Botticellian beauty, and is second in importance, among the female characters of Proust s novel, only to Albertine Simonet, was modeled on Proust s association with exclusive demi-mondaines , or kept-women, a costly milieu which Hauser warned him against. Since the time he was a boy, Proust was on intimate terms with Laure Hayman, who enjoyed the keen insights of her languid young friend-her little psychologist in porcelain, as she called him-and is by turns, on the more prosaic business side, the lover of his maternal great-uncle Louis Weil and almost certainly of his father Adrien. Marcel Proust paid her frequent visits at her address in Rue La P rouse, near the Arc de Triomphe. She was not too pleased when she read in Proust s novel that, before her marriage, the courtesan Odette de Cr cy used to live in Rue Laperouse.
Not even the financial disaster of World War I, which took away a good chunk of Proust s fortune, was detrimental to his art: the nocturnal air raids of the infamous German zeppelins turned the pitch-black passageways of the Parisian metro into a dark city, a Sodom of sorts, where his impenitent Baron de Charlus hunts for African soldiers in red skirts and Hindu soldiers in white turbans; and in the masculine solidarity of trench war, his protagonist s devoted friend Robert de Saint-Loup, a junior cavalry officer, discovers a curious blend of lower-class eroticism and heroic patriotism.
In 1919 an astute publisher, Gaston Gallimard, seized the opportunity to convert hundreds of pages of chaotic scribbling into Proust s best-seller-and in the process Gallimard became the unchallenged doyen of literary publishing in France. On top of it all, one of Proust s longest-term and sneakiest investments produced unhoped-for results after the war. Although Hauser had grown used to Proust s comparison of certain securities in his portfolio with old mistresses, prone either to unreasonable claims or unexpected handouts, he is kept mostly in the dark regarding his friend s substantial packet of shares of Royal Dutch, the progenitor of Shell; from 1919 to the year of the writer s death, 1922, these securities counted among the writer s steadiest and most generous mistresses on the stock exchange.
So much
