“By adopting this course I think you would obtain a good cable at the lowest price.
“The government could pay for such a cable by selling its four per cent, bonds, having a long time to run, at a considerable premium; and the revenue from such a cable would, in my opinion, steadily increase from year to year, and at no distant day be a source of revenue to the country.”
“I thank you for your letter of yesterday, and for the interest you are taking in the matter of the proposed Pacific cable.
“Have you ever written to the American ministers in Japan and China on the subject? If the United States government desired it, and took the proper steps, I think that England, Russia, France, Japan, and China would each do something towards encouraging the enterprise.”
The latest mention I find of this project is on the 30th of April, 1884, and then it is suggested as only possible as far as the Sandwich Islands, and that it would cost £650,000. There had been no enthusiasm shown, and as no company had been formed the grant given on March 10, 1879, had become valueless; but as long as his brothers dined with him the thought of a Pacific cable was recalled by the favorite toast of Mr. David Dudley Field, who would say, before the family left the table, “And now, Cyrus, we must not forget to drink to the world encircling.” The recent revival of the subject has evidently been rather political than commercial. It was during the summer of 1880 that this was written:
“I decided some weeks ago upon leaving New York, on my trip around the world, on October 13th, provided I could find some Democratic friend who would pair off with me; and if I cannot accomplish this I shall wait and vote on November 2d, and leave on the 3d.”
And on September 13th:
“It appears to me to be all-important that the Republican party should carry the election in Indiana in October.... I have now decided not to leave for San Francisco until after the Presidential election.”
And two days later, September 15th: