latter, as one of the
original patentees, had to be consulted in every sale of patent rights,
and Kendall soon found it almost impossible to deal with him.

At first Kendall had great difficulty in inducing capitalists to
subscribe to what was still looked upon as a very risky venture. Mr.
Corcoran, of Washington, was the first man wise in his generation, and
others then followed his lead, so that a cash capital of $15,000 was
raised. Mr. Reid says: "It was provided, in this original subscription,
that the payment of $50 should entitle the subscriber to two shares of
$50 each. A payment of $15,000, therefore, required an issue of $30,000
stock. To the patentees were issued an additional $30,000 stock, or half
of the capital, as the consideration of the patent. The capital was thus
$60,000 for the first link. W.W. Corcoran and B.B. French were made
trustees to hold the patent rights and property until organization was
effected. Meanwhile an act of incorporation was granted by the
legislature of the State of Maryland, the first telegraphic charter
issued in the United States."

The company was called "The Magnetic Telegraph Company," and was the
first telegraph company in the United States.

Under the able, if conservative, management of Mr. Kendall the business
of the telegraph progressed slowly but surely. Many difficulties were
encountered, many obstacles had to be overcome, and the efforts of
unprincipled men to pirate the invention, or to infringe on the patent,
were the cause of numerous lawsuits. But it is not my purpose to write a
history of the telegraph. Mr. Reid has accomplished this task much better
than I possibly could, and, in following the personal history of Morse,
the now famous inventor, I shall but touch, incidentally on all these
matters.

On the 18th of July, 1845, the following letter of introduction was sent
to Morse from the Department of State:--

To the respective Diplomatic and Consular Agents of the United States in
Europe.

SIR,--The bearer hereof, Professor Samuel F.B. Morse, of New York,
Superintendent of Electro Magnetic Telegraphs for the United States, is
about to visit Europe for the purpose of exhibiting to the various
governments his own system, and its superiority over others now in use.
From a personal knowledge of Professor Morse I can speak confidently of
his amiability of disposition and high respectability. The merits of his
discoveries and inventions in this particular b