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McCabe, James Dabney, 1842-1883

"Great Fortunes, and How They Were Made"


The public generally and the directors of the company were greatly
disappointed, and many of-the latter and nearly all of the former
declared that all such attempts must of necessity fail. Some persons
even went so far as to avow their belief that the statements as to the
successful transmission of signals over the wire were false; but the
proofs that the wire did work properly for awhile are too strong to
allow us to accord the slightest weight to this disbelief. But whether
signals had passed over the wire or not, there could be no doubt that
the cable had ceased to respond to the efforts of the electricians, and
was a total failure, and the discouragement of nearly every one
connected with it was most profound.
Mr. Field and one or two others were the only persons who retained the
slightest confidence in the enterprise, and it was clear to them that
any further effort to secure the aid of private capital would be useless
just then. An appeal was made to the British Government. It was urged
that the work was too great to be undertaken by private capital alone,
and that, since it was to be more of a public than a private nature, it
was but just that the Government should undertake it.


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