Supposing that these magnates are content simply to turn this scheme down with a smile:
Is it, therefore, done for?
No.
For then the money will be raised in another way—by an appeal to moderately rich Jews. The smaller Jewish banks would have to be united in the name of the National Idea against the big banks till they were gathered into a second and formidable financial force. But, unfortunately, this would require a great deal of financing at first—for the £50,000,000 would have to be subscribed in full before starting work; and, as this sum could only be raised very slowly, all sorts of banking business would have to be done and loans made during the first few years. It might even occur that, in the course of all these transactions, their original object would be forgotten; the moderately rich Jews would have created a new and large business, and Jewish emigration would be forgotten.
The notion of raising money in this way is not by any means impracticable. The experiment of collecting Christian money to form an opposing force to the big banks has already been tried; that one could also oppose them with Jewish money has not been thought of until now.
But these financial conflicts would bring about all sorts of crises; the countries in which they occurred would suffer, and Anti-Semitism would become rampant.
This method is therefore not to be recommended. I have merely suggested it, because it comes up in the course of the logical development of the idea.