Great Fortunes, and How They Were MadeMcCabe, James Dabney
History
Great Fortunes, and How They Were Made
McCabe, James Dabney
United States -- Biography
The two highest authorities in the world thus having assured him of the
entire practicability of the undertaking, Mr. Field declared his
readiness, if he could procure the assistance of a sufficient number of
capitalists in the United States, to undertake the laying of a telegraph
across the Atlantic between Europe and America. Further deliberation
only made him better satisfied with the undertaking, and he set to work
to find ten capitalists, each of whom he proposed should contribute one
hundred thousand dollars, making the capital of the proposed company one
million of dollars. Mr. Field was convinced that the undertaking would
be expensive, but he had then but a faint conception of its magnitude,
and was very far from supposing that "he might yet be drawn on to stake
upon its success the whole fortune he had accumulated; that he was to
sacrifice for it all the peace and quiet he had hoped to enjoy, and that
for twelve years he was to be almost without a home, crossing and
recrossing the sea, urging his enterprise in Europe and America."
The scientific questions involved in the undertaking were so little
understood at the time by the public, and the popular judgment regarded
the attempt to stretch a cable across the deep, mysterious ocean with so
much incredulity, that Mr. Field had considerable trouble in finding
gentlemen willing or prepared to share his faith in the enterprise. His
first effort was to induce Mr. Peter Cooper, of New York, his next door
neighbor, to join him, and he succeeded so well that Mr. Cooper
consented to do so if several others would unite with them. Encouraged
by his success with Mr. Cooper, whose name was a tower of strength to
his cause, Mr. Field renewed his efforts, and succeeded in winning over
the following gentlemen, and in the order named: Moses Taylor, Marshall
O. Roberts, and Chandler White. These gentlemen were very slow to accept
the views of Mr. Field, but, once having done so, they never lost faith
in the ultimate success of the undertaking. The more thoroughly they
became acquainted with its magnitude and costliness, the stronger grew
their confidence in it, for this increase of knowledge not only showed
them more plainly its difficulties and dangers, but developed new
grounds on which to base their hopes.
Public-domain text, read in full here on John Shaqi.
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