234 A SAGA OF THE SEAS 
trip of great interest but some hardship—it has been described 
in a book by Taylor—they landed in state and visited the 
island’s geysers and volcanic relics, attracting almost as much 
attention as the royal party. The Icelanders wondered 
whether this lean Yankee promoter, of whose exploits they 
had heard with special interest, was going to lay a new cable 
across the Atlantic by way of their island. Such, however, was 
not the purpose of the visit. It was merely Field’s method of 
relaxation to test his energy by new explorations. 
The visit to Iceland gave a temporary respite from the pes- 
simism that was now prevalent in the United States, where 
the building of railroads had been overdone. The depression 
manifested itself in closed factories and banks. The centen- 
nial celebration of American independence was held at Phil- 
adelphia in the midst of gloom and apprehension. Among 
the exhibits was Alexander Graham Bell’s toy and novelty, 
the “talking telegraph,” later called the telephone. His ef- 
forts to sell stock in what afterward became the greatest cor- 
poration in the world were met by skepticism and rebuffs. 
This was the beginning of the Bell system, later absorbed 
into the American Telephone & ‘Telegraph Company. 
In contrast with the apathy and fear of other capitalists, 
Field retained his characteristic courage and cheerfulness dur- 
ing the depression. He had seen some bad days himself when 
his cables snapped and dropped to the bottom of the ocean. 
This boundless energy, coupled with his innate optimism and 
lack of guile, was, unfortunately, to bring disaster to his later 
years. Once more back in the United States he looked about 
for opportunities for public service. The depression in in- 
dustry was deepening, and much suffering was apparent 
among the working classes in New York. There was need for 
Field’s benevolent leadership. 
New York had expanded amazingly in the post-war period 
and was growing rapidly uptown. Previous to 1850 the city 
was practically all below Fourteenth street. Field’s residence 
