THE SIMPLE IDEA OF AN ATLANTIC CABLE 33 
that he was to sacrifice all the peace and quiet he had hoped 
to enjoy; and that for twelve years he was to be almost without 
a home, crossing and re-crossing the sea, urging his enter- 
prise in Europe and America.” 
A start had to be made. Before the winter was over, Cyrus 
and David Field, with Chandler White, sailed from Halifax 
to St. John’s in an uncomfortable little steamer that felt its 
way for three days along the stormy, frost-bound coast of 
Newfoundland. Bishop Mullock was among the officials who 
welcomed them. The island’s Attorney General, Edward M. 
Archibald (later British consul-general at New York), as- 
sisted them ably. The rights granted to Gisborne’s company 
two years before were now canceled, and a new charter was 
given to the projected New York, Newfoundland & London 
Telegraph Company for an exclusive monopoly for fifty 
years to lay submarine cables across the Atlantic from the 
shores of Newfoundland. Upon the party’s return to New 
York, the Company was officially organized with Cooper as 
president, and a capital of a million and a half dollars was 
quickly subscribed. This first meeting was held at six o’clock 
in the morning of May 8, 1854, at the residence of David 
Dudley Field. It was held so early because they would not do 
business on a Sunday, and one of them had to leave the city 
later on Monday. The entire capital was subscribed before 
breakfast. Henry Field wrote of this fifteen-minute meeting, 
during which money was raised so readily: ‘Well was it for 
them that the veil was not lifted, which shut from their eyes 
the long delay, the immense toil, and the heavy burden of 
many wearisome years. Such a prospect might have chilled 
the most sanguine spirit.”” The capital which was originally 
subscribed eventually proved to be but a fraction of that nec- 
essary. Cyrus Field tended to over-simplify problems and to 
underestimate troubles. 
This American company made its position strong and defi- 
nite before taking up matters in the British Isles. It paid off 
