The Enlightenment and the Emancipation unleashed the power of the general public. Napoleon tapped the military power of a democratic army. Half a century later the same unleashing of power and national scale began to shape the financial markets.
The ancien regime could no longer match the great financial scale a general subscription in a nation of middle class wealth and abundance could provide. When gentile general society began more closely to approximate the biblical ideal of a dignified general populace able to finance at a national scale the national projects the Industrial Revolution had made feasible it became more difficult for the Jews to find a comfortable place for themselves.