This hymn was written after traumatic events in Spafford 's life . The first was the death of his son at the age of two and the Great Chicago Fire of 1871 , which ruined him financially ( he had been a successful lawyer and had invested significantly in property in the area of Chicago that was extensively damaged by the great fire ) . His business interests were further hit by the economic downturn of 1873 , at which time he had planned to travel to Europe with his family on the '' SS Ville du Havre '' . In a late change of plan , he sent the family ahead while he was delayed on business concerning zoning problems following the Great Chicago Fire . While crossing the Atlantic Ocean , the ship sank rapidly after a collision with a sea vessel , the '' Loch Earn '' , and all four of Spafford 's daughters died . His wife Anna survived and sent him the now famous telegram , " Saved alone … " . Shortly afterwards , as Spafford traveled to meet his grieving wife , he was inspired to write these words as his ship passed near where his daughters had died . Bliss called his tune '' Ville du Havre '' , from the name of the stricken vessel
Great Chicago Fire
Great Chicago Fire
It Is Well with My Soul