This was in '66, and a singular thing happened. When the notes fell due in London on the 6th May, that comparatively small amount of gold precipitated something of a panic in the unsteady market of the day. Everything went with a crash. Moseley, the banker of Liverpool, failed for a large sum; Lemuel Goddard, of London, followed with a loss of as much more; Lunnon & Company failed for a greater amount; McHenry for some millions; Sir Morton Peto for other millions; and Overend, Gurney & Company for another large amount. This showed to me the real shallowness and insubstantiality of the great world of finance. It is built upon straw and paper. The secret of its great masters and "Napoleons" is nothing but what is known among other gamblers as "bluff." CHAPTER XX A VISIT TO RUSSIA 1857 The year '57 was a memorable period in my life in many ways. The great panic of the time swept away my ambitious projects as if they had been so many dreams and visions. My contracts in Italy were destroyed by the peace of Villa Franca, and my Australian plans were defeated by the panic. I was therefore ready to take up anything that looked promising; but, as I had nothing immediately on hand, I took advantage of the enforced leisure to see more of England and the continent of Europe. I was in Liverpool at the time the Niagara arrived there for the purpose of laying the Atlantic cable, and suggested giving a banquet to Captain Hudson and Commander Pennock, who was my cousin, and to the other officers, at Lynn's Waterloo Hotel. This old landmark, the resort of American ship-captains for many years, was torn down long ago. At this time a letter came to Captain Hudson from the Grand Duke Constantine, of Russia, who had arrived at Dover in his yacht, the Livadia, thanking him for granting permission for three Russian officers to witness the laying of the cable. In this little incident I saw an opportunity for visiting Russia in a semi-official capacity, enabling me to see that country to much better advantage. I said to Captain Hudson that I should like to carry his answer to the Grand Duke. He replied that no answer was required, and that, besides, the Grand Duke had returned to St. Petersburg. I assured him that strict courtesy demanded an acknowledgment of the letter, and that it would make no difference to me about the Grand Duke being in St. Petersburg, as I expected to visit that city. So I persuaded him to let me take an answer to the Russian Prince. I suggested the phrasing of the letter. The Grand Duke was informed that I was visiting Russia for the purpose of seeing the Nijnii Novgorod fair, and that the United States was always glad to do anything that helped to repay Russia for her long friendship.