. Jay Cooke : financier of the Civil War . out of everything south ofMason and Dixons line, even down to the South Pole. GeneralSchenck, of course, does not know anything about finances, andis therefore excusable for supposing there was something inthis matter, but he ought to know enough of Stevens to see thathe was not a party we could negotiate with. Late in 1871 Mr. Cooke actively interested himselfin Cyrus W. Fields plan for a Pacific cable which wasto be landed at a point near the terminus of the North-ern Pacific Railroad, and wrote to Grant on the sub-ject, aiming to induce the Preside
. Jay Cooke : financier of the Civil War . out of everything south ofMason and Dixons line, even down to the South Pole. GeneralSchenck, of course, does not know anything about finances, andis therefore excusable for supposing there was something inthis matter, but he ought to know enough of Stevens to see thathe was not a party we could negotiate with. Late in 1871 Mr. Cooke actively interested himselfin Cyrus W. Fields plan for a Pacific cable which wasto be landed at a point near the terminus of the North-ern Pacific Railroad, and wrote to Grant on the sub-ject, aiming to induce the President to advocate the en-terprise in his forthcoming message to Cooke, who was his brothers intermediary, saidin a letter dated November 18, 1871: The President expressed lively interest in the success of telegraphic project. He said it would be an aid to thiscountry in securing the trade of Japan and of the East, and thatthe project was worthy of encouragement. He said the East 1 McCulloch to J. C, January 16, MRS. JAY COOKE, 1869 FINANCIER OF THE CIVIL WAR India trade (including Japan, etc.), was pretty much! all that wasleft to our commercial marine, as our ships were virtually ex-cluded from the Atlantic trade, and that of all portions of theworld; that if properly managed we could secure and hold theJapanese and China trade largely. I infer from this that hereceived your suggestion to mention the matter in his messagefavorably. He read your letter with great attention, and afterreading it spoke very warmly to the above effect. Enough has been said to indicate that Jay Cooke inall his remarkably active life had never experienced abusier or more anxious year than 1871. To give us acomplete picture of what these months held for him,just one trial more must be added to the impending ca-tastrophe in relation to the railroad, the signs of whichalready appeared in vague outlines upon the wall; thevisit of the European commissioners, in whom too muchfa
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