ritish
colonies favorable charters granting exclusive privileges, land grants,
and even subsidies. Yet the construction of the land line across
Newfoundland to the terminus at Heart's Content proved difficult and
costly, and the St. Lawrence cable was lost in laying. Yet additional
capital was subscribed; and a couple of years later the Newfoundland
line, the St. Lawrence cable, and another submarine link of thirteen
miles across the Straits of Northumberland had been successfully
finished. Nothing remained to be done _except_ the procuring of means
and the devising of successful methods for the installation of the
Atlantic cable itself, without which all this preliminary expenditure
would have been thrown away.

The capital estimated as necessary for making and laying the cable was
raised by Mr. Field in England, where the Atlantic Telegraph Company was
formed to construct and operate the line under concessions from the
parent Newfoundland company. All classes in England felt a sentimental
interest in the romantic enterprise; and the subscribers to the new
stock included such men as Thackeray and others of equal note, outside
of business circles altogether.

The company proceeded with vigor,--secured from the governments of Great
Britain and the United States guaranties of subsidies and the free use
of ships for laying the cable; contracts for the cable and its
insulating covering were executed; and by the end of July, 1857, the
British Agamemnon and the American Niagara had each twelve hundred and
fifty miles of it on board. In August they connected the two halves of
it in mid-Atlantic, and in September the shore end was landed at Heart's
Content.

The sequel is familiar history. A few messages had been sent and
received, when the current grew weaker and weaker, and at last failed
entirely. The result was a strong reaction in popular sentiment. It was
even questioned whether any messages had actually crossed the Atlantic.
Fortunately this doubt could be conclusively disproved,--especially in
England, where it was known that the British government had wired by the
cable before its failure news of great political importance. The British
company indeed courageously proceeded to make another cable; but when
this parted in mid-ocean during the process of laying it even British
tenacity of purpose was daunted, and for some two years the enterprise
seemed to be dead. Meanwhile public opinion on this side was far more
unf