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This oracular declaration prevailed, and
the project was ignominiously rejected by the wise men of Chicago.
Fortunately, citizens of smaller towns, like Ypsilanti, Kalamazoo, South
Bend, Kenosha, and Racine, took a more sensible view of the proposed
enterprise, and the line was built despite the contempt of Chicago
capitalists. Now, however, the men of Chicago pay more than five
thousand dollars a day for telegraphing at rates far lower than would
have been thought possible in that early day.
The true spirit of enterprise, which has so grandly developed the
resources of our imperial domain, has generally been found to prevail
among people of modest means. Thus, nearly every dollar of capital
contributed toward the establishment of telegraph lines in this country
came from the offerings of people in very moderate circumstances. In
this connection, therefore, it is extremely gratifying to state that
very few enterprises of any kind have returned such generous recompense
for the amount of capital invested as the telegraph and telephone lines
in America.


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