previous, but Mr. Gisborne hoped to be able to revive it by the aid of American capital. The scheme which he laid before Mr. Field, can not be better stated than by quoting the following extract from the charter which the Legislature of Newfoundland had granted the bankruptcy company:
"The telegraph line of this company is designed to be strictly an 'Inter-Continental Telegraph,' Its termini will be New York, in the United States, and London, in the Kingdom of Great Britain; these points are to be connected by a line of electric telegraph from New York to St. John's, Newfoundland, partly on poles, partly laid in the ground, and partly through the water, and a line of the swiftest steamships ever built, from that point to Ireland. The trips of these steamships, it is expected, will not exceed five days, and as very little time will be occupied in transmitting messages between St. John's and New York, the communication between the latter city and London or Liverpool, will be effected in six days, or less. The company will have likewise stationed at St. John's a steam yacht, for the purpose of intercepting the European and American steamships, so that no opportunity may be lost in forwarding intelligence in advance of the ordinary channels of communication."
Mr. Field listened attentively to his visitor, but declined to commit himself to more than an expression of sympathy with the enterprise. After the departure of his guest, he took the globe which stood in his library, and turning it over, began to examine the proposed route of the telegraph line and the distance to be traversed by the steamers. While engaged in this examination, the idea flashed across his mind that instead of undertaking such a complicated scheme, it would be better to attempt to stretch a telegraph wire entirely across the ocean, from the shores of Newfoundland to the coast of Ireland. The vastness of this scheme pleased him, and its usefulness to the entire world, if it could be carried out, was clear to his mind from the first.