seaboard.

From Great Britain eventually the Company obtained an annual subsidy of 14,000l. sterling until the net profits of the Company should reach 6 per cent. per annum, on the whole capital of 350,000l. sterling, the grant to be then reduced to 10,000l. sterling per annum, for a period of twenty-five years; two of the largest steamships in the navy to lay the cable, and two steamers to aid them; and a careful examination of the soundings by vessels of the Royal Navy.

From the United States the Company obtained an annual subsidy of $70,000 until the net profits yielded 6 per cent. per annum, then to be reduced to $50,000 per annum, for a period of twenty-five years, subject to termination of contract by Congress after ten years, on giving one year’s notice. The United States government also granted the steamship Arctic to make soundings, and steam-ships Niagara and Susquehanna to assist in laying the cable. A government steamer was also ordered to make further soundings on the coast of Newfoundland.

Long ere the Company had been placed in possession of such beneficial rights, and obtained such a large amount of favour, Mr. Field, who threw every energy of body and mind into the work, and was entrusted by his brother directors with the general management of affairs, proceeded to carry out the engagements the Company had entered into with the local legislatures. It has been said that the greatest boons conferred on mankind have been due to men of one idea. If the laying of the Atlantic Cable be among these benefits, its consummation may certainly be attributed to the man who, having many ideas, devoted himself to work out one idea with a gentle force and a patient vigour which converted opposition and overcame indifference. Mr. Field may be likened either to the core, or to the external protection, of the Cable itself. At times he has been its active life; again he has been its iron-bound guardian. Let who will claim the merit of first having said the Atlantic Cable was possible, to Mr. Field is due the inalienable credit of having made it possible, and of giving to an abortive conception all the attributes of healthy existence.

The first step in the great enterprise, now fairly inaugurated, was the connection of St. John’s with the telegraphic lines already in operation in Canada and the United States.

Mr. Field was despatched to England, as there were no firms established for the manufacture of submarine cables in the United States, to order the necessary work to be done, and to raise money. He previously ordered specimens of cable to be made, so that when he landed in England they were ready for his inspection; and soon after his arrival he entered into a contract with Messrs. Küper & Co. (subsequently Glass, Elliot, & Co.) for a cable to be laid across the Gulf of St. Lawrence. He held interviews with eminent engineers and electricians, among whom were Mr. Brunel, Mr. (now Sir C.) Bright, Mr. Brett, and Mr. Whitehouse, respecting his larger project, which led to extended and valuable experiments. The cable for Newfoundland was formed in three strands, and had three conducting wires; and Mr. Field undertook to lay it, under the direction of Mr. Canning. In August, 1855, the first attempt was made; but off Cape Ray a violent gale arose, and it was deemed necessary by the master of the vessel to cut the cable. This disappointment was not in the least a discouragement. Another contract was made by Mr. Field with Messrs. Küper & Co. to make and lay a cable at their own risk, which was executed by Mr. Canning in the Propontis the following year. The station is at Point-au-Basque, near the western extremity of Newfoundland, and the telegraph runs across the island to Trinity Bay.

The opportunities for scientific experiments afforded by the manufacture of these cables were not neglected. The possibility of transmitting signals under water without fatal loss of power from the increased length of circuit was the first fact determined. The attention of the experimentalists was then directed to ascertain whether, having regard to existing theories, it would be possible to carry even a single conductor across the Atlantic without the aid of a cable so ponderous and so costly as to render it useless in a commercial point of view. A series of direct experiments were at once undertaken, which resulted in the establishment of the following facts:—first, that retardation of movement, in consequence of increasing distance, did not occur at a rate which could seriously affect a cable across the Atlantic; secondly, that increased dimensions in insulated marine conductors augmented the difficulties in obtaining velocity, so that bulk in a cable would not be requisite; and, thirdly, that a velocity and facility which would satisfy all mere commercial and financial requirements in a line crossing the Atlantic, might be attained in the largest circuits. The next step was to actually make signals through 2000 miles of wire. This was accomplished through the kindness of the directors of the English and Irish Magnetic Company, who placed at the disposal of the experimentalists 5000 miles of under-ground wire. On the 9th of October, 1856, in the quiet of the night time, the experiment was tried successfully. Signals were distinctly and satisfactorily telegraphed through 2000 miles of wire, at the rate of 210, 241, and 270 per minute.

There was still a matter of the last importance to be determined. Was the state of the bed of the Atlantic really such as to warrant the conclusion that a wire 2000 miles long could be deposited and remain there without injury?

Mr. Field, in order to ascertain this fact, obtained from the government of America the assistance of Lieut. Berryman, U.S.N., in the steam-ship Arctic, who succeeded, in July, 1856, in taking soundings across the Atlantic at distances varying from 30 to 50 miles, and, by means of scoops, or quills, bringing up specimens of the bottom, which, upon microscopic examination, proved to be composed of fine shells and sand.

As capital was needed for the execution of the enterprise which the confidence of moneyed men in the United States did not induce them to supply, and as it was desirable to enlist the support of the capitalists of Great Britain, Mr. Field was now authorised to form a company, with branches in both countries. Having secured the services of Mr. Brett, Mr. (now Sir C.) Bright, Mr. Woodhouse, and others, on the 1st of November, 1856, as Vice-President of the New York, Newfoundland, and London Telegraph Company, he issued an elaborate, able, and argumentative circular in London, headed, “Atlantic Telegraph,” and made a tour through the great towns, addressing meetings in support of the project.

On the 6th of November, 1856, the prospectus was issued, with a nominal capital of 350,000l., represented by 350 shares of 1000l. each, and within one month the entire of the capital had been subscribed for, and the first instalment of 70.000l. paid up.

One hundred and six shares were taken in London, eighty-eight in the United States, eighty-six in Liverpool, thirty-seven in Glasgow, and the remainder in other parts of England. Mr. Field stood as subscriber of 88,000l., and represented all America.

But it was not only from the public of Great Britain the project met encouragement. Ere the new company was formed, Mr. Field (13th September, 1855) addressed Lord Clarendon, requesting aid, and protection and privileges, and on the 20th November received a reply from the Secretary to the Treasury, engaging to furnish ships for soundings, and to consider favourably any request for help in laying the Cable, to pay 14,000l. (4 per cent. on capital) as remuneration for Government messages, till the net profits were 6 per cent., when the payment was to become 10,000l. for twenty-five years, and the Royal assent was given to the Act of Incorporation of the Company July 27th, 1857.

Mr. Field