After some little delay, the Legislature, with one adverse member only, granted the valuable privileges to the Company which were subsequently transferred to the Atlantic Telegraph Company. They constitute, in fact, a monopoly of telegraphic rights in Newfoundland, the value of which was enhanced afterwards by similar concessions from the state of Maine, Nova Scotia, Prince Edward’s Island; and liberal encouragement from Canada. There is much to be said against concessions, and monopolies, and patents, on abstract grounds; but it is quite clear that in certain circumstances men will not venture money and spend time, without the prospect of the ulterior advantages such protection is calculated to ensure. The Government has, however, informed Colonial and Provincial Legislatures that in future Her Majesty will be advised not to give her ratification to the creation of similar monopolies. By their chartered rights the new Company obtained the exclusive privilege for fifty years of landing cables on Newfoundland and Labrador, which embraces a coast extending southwardly to Prince Edward’s Island, Cape Breton, Nova Scotia, the State of Maine, and their respective dependencies; and westwardly to the very entrance of Hudson’s Straits. The Company also secured a grant of fifty square miles of land on the completion of Telegraph to Cape Breton; a similar concession of additional fifty square miles when the Cable shall have been laid between Ireland and Newfoundland; a guarantee of interest for twenty years at 5 per cent. on 50,000l.; a grant of 5000l. in money towards building a road along the line of the Telegraph; and the remission of duties on the importation of all wires and materials for the use of the Company.
The Company also obtained from the Legislature of Prince Edward’s Island, in May, 1854, the exclusive privilege for fifty years of landing cables on the coast; a free grant of one thousand acres of land; and a grant of 300l. currency per annum for ten years.
From Canada the Company obtained an Act authorising the building of telegraph lines throughout the Provinces, accompanied by the remission of duties on all wires and materials imported for the use of the Company.
Nova Scotia, in 1859, gave the Company a grant of exclusive privilege, for twenty-five years, of landing telegraphic cables from Europe on the shores of the Province.
The State of Maine accorded the Company a grant of the exclusive privilege, for twenty-five years, of landing European telegraph cables on the seaboard.
From Great Britain eventually the Company obtained an annual subsidy of 14,000l. sterling until the net profits of the Company should reach 6 per cent. per annum, on the whole capital of 350,000l. sterling, the grant to be then reduced to 10,000l. sterling per annum, for a period of twenty-five years; two of the largest steamships in the navy to lay the cable, and two steamers to aid them; and a careful examination of the soundings by vessels of the Royal Navy.
From the United States the Company obtained an annual subsidy of $70,000 until the net profits yielded 6 per cent. per annum, then to be reduced to $50,000 per annum, for a period of twenty-five years, subject to termination of contract by Congress after ten years, on giving one year’s notice. The United States government also granted the steamship Arctic to make soundings, and steam-ships Niagara and Susquehanna to assist in laying the cable. A government steamer was also ordered to make further soundings on the coast of Newfoundland.
Long ere the Company had been placed in possession of such beneficial rights, and obtained such a large amount of favour, Mr. Field, who threw every energy of body and mind into the work, and was entrusted by his brother directors with the general management of affairs, proceeded to carry out the engagements the Company had entered into with the local legislatures. It has been said that the greatest boons conferred on mankind have been due to men of one idea. If the laying of the Atlantic Cable be among these benefits, its consummation may certainly be attributed to the man who, having many ideas, devoted himself to work out one idea with a gentle force and a patient vigour which converted opposition and overcame indifference. Mr. Field may be likened either to the core, or to the external protection, of the Cable itself. At times he has been its active life; again he has been its iron-bound guardian. Let who will claim the merit of first having said the Atlantic Cable was possible, to Mr. Field is due the inalienable credit of having made it possible, and of giving to an abortive conception all the attributes of healthy existence.
The first step in the great enterprise, now fairly inaugurated, was the connection of St. John’s with the telegraphic lines already in operation in Canada and the United States.
Mr. Field was despatched to England, as there were no firms established for the manufacture of submarine cables in the United States, to order the necessary work to be done, and to raise money. He previously ordered specimens of cable to be made, so that when he landed in England they were ready for his inspection; and soon after his arrival he entered into a contract with Messrs. Küper & Co. (subsequently Glass, Elliot, & Co.) for a cable to be laid across the Gulf of St. Lawrence. He held interviews with eminent engineers and electricians, among whom were Mr. Brunel, Mr. (now Sir C.) Bright, Mr. Brett, and Mr. Whitehouse, respecting his larger project, which led to extended and valuable experiments. The cable for Newfoundland was formed in three strands, and had three conducting wires; and Mr. Field undertook to lay it, under the direction of Mr. Canning. In August, 1855, the first attempt was made; but off Cape Ray a violent gale arose, and it was deemed necessary by the master of the vessel to cut the cable. This disappointment was not in the least a discouragement. Another contract was made by Mr. Field with Messrs. Küper & Co. to make and lay a cable at their own risk, which was executed by Mr. Canning in the Propontis the following year. The station is at Point-au-Basque, near the western extremity of Newfoundland, and the telegraph runs across the island to Trinity Bay.