The Story of the Atlantic TelegraphField, Henry M. (Henry Martyn)
History
The Story of the Atlantic Telegraph
Field, Henry M. (Henry Martyn)
Transatlantic cables
This was indeed discouraging. Yet this sudden dropping of the scheme did
not imply a loss of interest or of faith on the part of those embarked
in it. They believed in it as much as ever. But the general public did
not respond to the call for more capital. Alas that the noblest
enterprises should so often be delayed or defeated by the want of money!
Capital is always cautious and timid, and follows slowly in the path of
great discoveries. If Columbus, instead of the patronage of a Queen full
of womanly enthusiasm, had depended on a stock company for the means for
his expedition, he might never have sailed from the shores of Spain.
Happy was it for mankind that his faith and patience did not wear out,
while going from court to court, and kingdom to kingdom, and almost
begging his way from door to door!
But it is not in human nature--least of all in American nature--to
despond long. Though ten years of constant defeat would seem to have
wrought a lasting discouragement, yet again and again did the baffled
spirit of enterprise return to the attempt. In January, 1864, Mr. Field
was once more on his way to England. He found the Directors, as before,
deeply interested in the enterprise, and wishing it success. With a
grateful heart he bore witness to their unfaltering courage. But mere
courage and good wishes would not lay the Atlantic Telegraph. Yet what
could they do? They could not be expected to advance all the capital
themselves. They had already subscribed liberally, and he could not ask
them to do more. But with all the efforts that had been made in England
and America, not half the capital was yet raised. The machinery was in a
dead lock, with little prospect of being able to move. It was the
misfortune of the enterprise that there was no one man who made it his
sole and exclusive charge. The Board of Directors contained some of the
best men in London. But they were, almost without exception, engaged in
very large affairs of their own, with no leisure to make a public
enterprise their special care. To insure success, it needed a trial of
the one-man power--one brain, planning night and day; one agency
incessantly at work, stirring up directors, contractors, and engineers;
and one will pushing it forward by main strength. This was the force now
to be applied.
The first element needed to put life into the old system was an infusion
of new blood--new capital and new men. While the enterprise was in this
state of collapse, Mr. Field addressed himself to a gentleman with whom,
until then, he had no personal acquaintance, but who was well known in
London as one of the largest capitalists of Great Britain--Mr. Thomas
Brassey. Their first interview was somewhat remarkable. Referring to it
a few months after, Mr. Field said:
Public-domain text, read in full here on John Shaqi.
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