"The war moves too slow and costs too much; but it moves steadily, and rebellion falls before it. Our financial condition remains entirely sound. The new national banks are being organized as rapidly as prudence allows, and no doubt can, I think, be longer entertained that, whatever else may happen, we shall have gained, through the rebellion, an opportunity, not unimproved, of establishing a safe and uniform currency for the whole nation--a benefit in itself compensating in some degree, and in no small degree, for the evils we have endured. I trust you are succeeding well in your great scheme of the inter-continental telegraph. It is an enterprise worthy of this day of great things. If I had the wealth of an Astor you should not lack the means of construction. Yours very truly, "S. P. CHASE. "CYRUS W. FIELD, Esq." Mr. Chase's letter was shown to Mr. Gladstone eight months later, and he returned this reply: "11 CARLTON HOUSE TERRACE, S. W., "_April 26, 1864_. "_My dear Mr. Field_,--I return, with many thanks, these interesting letters: the one full of feeling, the other of important political anticipations. "It is very good of you to send a letter of Mr. Chase's to me, who, I apprehend, must pass in the United States for no better than a confirmed heretic, though I have never opened my mouth in public about America except for the purposes of sympathy and what I thought friendship. "I admit I cannot ask or expect you to take the same view on the other side of the water. Engaged in a desperate struggle, you may fairly regard as adverse all those who have anticipated an unfavorable issue, even although, like myself, they have ceased to indulge gratuitously in such predictions, when they have become aware that you resent, as you are entitled to judge the matter for yourselves. I cannot hope to stand well with Americans, much as I value their good opinions, unless and until the time shall come when they shall take the opposite view, retrospectively, of this war from that which they now hold. If that time ever comes, I shall then desire their favorable verdict, just as I now respectfully submit to their condemnation. "What I know is this, that the enemies of America rejoice to see the two combatants exhaust themselves and one another in their gigantic and sanguinary strife. "As respects Mr. Chase, he is, if I may say so, a brother in this craft; and I have often sympathized with his difficulties, and admired the great ability and ingenuity with which he appears to have steered his course. "I remain, my dear sir, "Faithfully yours, "W. E. GLADSTONE."