In 1854, Cyrus West Field conceived the idea of the telegraph cable and secured a charter to lay a well-insulated line across the floor of the Atlantic Ocean.

What is Cyrus Field best known for?

Field, in full Cyrus West Field, (born November 30, 1819, Stockbridge, Massachusetts, U.S.—died July 12, 1892, New York City, New York), American financier noted for the success of the first transatlantic cable.

How did Cyrus Field make his money?

Field became a stock-market operator and this, coupled with his princely way of life and financial obligations, was his undoing. He made money in western railroads and, in the late 1870s, acquired control of the New York Elevated Railroad Company, which also prospered. Then he went overboard.

Did Cyrus Field have kids?

Field married Mary Bryan Stone on December 2, 1840, two days after he turned twenty one, and they had seven children.

How did Cyrus Field impact society?

Driven to succeed yet patient in times of failure, Field kept the cable project going for twelve long years, crossing the Atlantic more than 30 times in an effort to raise money, solve problems, and make his cable a reality. His ultimate success ushered in a new era of international communications.

Who laid the transatlantic cable?

The Atlantic Telegraph Company led by Cyrus West Field constructed the first transatlantic telegraph cable. The project began in 1854 and was completed in 1858. The cable functioned for only three weeks, but was the first such project to yield practical results.

What impact did the telegraph cable have?

By transmitting information quickly over long distances, the telegraph facilitated the growth in the railroads, consolidated financial and commodity markets, and reduced information costs within and between firms.

What was the telegraph cable used for?

In 1866, the Atlantic Telegraph Company installed another transatlantic cable. The 1866 cable worked much more reliably. Though first used for government and military purposes, this technology later allowed European immigrants to North America to communicate with their families on the other side of the ocean.

Who invented transatlantic telegraph?

In 1856, Bright, with Cyrus Field and J.W. Brett, formed the Atlantic Telegraph Company, whose purpose was to lay the first Atlantic cable between Ireland and Newfoundland. Bright was made engineer in chief. After two failures, Bright landed the Irish end of the line at Valentia, County Kerry, in August 1858.

Why was the transatlantic cable important?

The Transatlantic Cable was a revolution to technology that was used to unite the continents. Although it took many tries to establish a connection with all the continents, in the end it made communication much easier and faster.

How did the transatlantic cable impact the industrial revolution?

But as the case of the transatlantic telegraph cable shows, history is rich with examples of how earlier breakthroughs had similar effects. In a stroke, the cable helped reshape many U.S. industries, including one of the biggest exports, raw cotton, ultimately growing U.S. exports through increased efficiency.