Cyrus Field was
an American financier and businessman who was instrumental in the creation of
the Atlantic Telegraph Company. In 1858, Field and Atlantic Telegraph were able
to lay down the first telegraph cable system across the Atlantic Ocean.
Field was born
on October 20, 1819 in Stockbridge, Massachusetts. At 15, he went to New York
City to work in the largest dry goods emporium in the city at that time as an
errand boy. When he was 18, he went back to Stockbridge.
At around 1840,
Field went back to New York City again. He ventured into paper manufacturing at
a time when the demand for penny press and the need for stocks and bonds were
high. He became one of the wealthiest men in the city, which allowed him to
retire when he was just 34. With a fortune of $250,000, Field bought his family
a home in Gramercy Park.
Field financed Frederic Edwin Church’s expeditions in the 1850s. The expeditions allowed
Church to reach Andes in his search for new landscapes that would become the
subject of his paintings. Field commissioned some of Church’s famous artworks
hoping to lure a few investors to support his ventures in South America.
Soon, Field
ventured into telegraphy. Along with Samuel F.B. Morse, Moses Taylor, Abram
Stevens Hewitt and Peter Cooper, Field laid down a 400-mile telegraph line that
connected Nova Scotia and St. John’s, Newfoundland in 1854. In 1855, they
founded the American Telegraph Company. The company began acquiring other
telegraph companies and consolidated the system that ran from the Gulf Coast to
Maine.
When finances
were secured and the backing of the British and American governments acquired,
Atlantic Telegraph laid down the first telegraph cable system that used the
shallow submarine plateau between Newfoundland and Ireland. The cable system
was officially on August
16, 1858 after Queen Victoria sent a message via Morse code to President James
Buchanan. However, the jubilation for the new cable system was short-lived
because it broke down after three weeks. The system was reconnected in 1866.
That year, Field
laid down a better and more durable trans-Atlantic cable line. This provided an
almost instant communication line across the Atlantic.
The Canadian
Pacific railway named the community of Field, British Columbia in December 1884
to honor Field and his contributions in telegraphy.
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