WHALING.

New Zealand Spectator and Cook's Strait Guardian, Volume III, Issue 181, 24 April 1847, Page 3

WHALING.

The following extracts refer to the British Whale and Seal Fishery Company now in progress of formation, to which we alluded in our last number ; the first extract is from the Timis, Nov. 4th, the second is from the Standard of the same date ; they were republished in the Nex Zealand Journal, and from thence transferred to our columns. " It will have been seen among our advertisements during the past week, that a company is in course of formation for the prosecution of the whale and seal fishery. The direction is an influential one, but an objection is made by a correspondent, which has also been stated in other quarters, that 'it does not contain the name of of one man practically acquainted with the fisheries except that of Mr. G. F. Young, who, with his partner, Mr. Curling, was owner formerly of South Sea whalers, a trade which he found to be anything but gainful.' This notion is erroneous. Mr. Joshua Bates, whose name appears in the list, is a native of New Bedford, whence have proceeded the majority of those adventurers by whom, during the last twenty years, the trade has been wrested from our hands, and he must, from his constant intercou se with his countrymen, be thoroughly conversant with all its details. Sir Edward Parry, one of the auditors, may also be presumed to have a sufficient acquaintance both with the North and South Seas to estimate not only our chances of competing with the Americans, bur likewise of participating in the trade which is alleged to be successfully carried on by vessels fitted out in New South Wales. Among the other directors the majority are largely connected with shipping interests, and one of them, Captain Alexander Nairne, an old officer and shipowner, is entitled in the fullest sense to rank as a practical man. Apait from this, it is remarked that the statistics of the whale fishery are not of that peculiar or complicated character to require on the part of those who seek to organize a company for its prosecution, any- . thing beyond the general knowledge which an intelligent merchant will always possess. It is upon the conduct of the masters and crews o! the vessels that the success of the undertaking must depend, and this is solely a question of national character. That the temperate and energetic habits of American seamen render the trade a profitable one to that country is abundantly proved, and that it has been unfortunate to ourselves, chiefly from a prevalence of opposite ea ises, is equally clear. Whether the behef ol the promoters of the present scheme, that it is in their power to adopt measures by winch the character of our men may be raised, and that the scope offerei for promotion in a fleet of ships systematically regulated, and in which advancement shall be be dependent on good conduct alone, will effect a moral revolution, can be realized, is a doubtful, but interesting question. It is important, for every reason, that it should be tested, and the experiment must therefore be admitted to be a useful and legitimate one. It should be observed that the prospectus holds out no premise of extraordinary gains, and that the anticipations of a steady and moderate dividend are based upon the principle of averaging the variable profits and losses through a period of several years.' 1 The Standard of the same date is as follows : "Southerk Whale Fishery. — The most spirited efforts are now in progress, under the auspices of some of the most influential names in the commercial world, to restore the whale fisheries of Great Britain. " The progtessive decline of this enterprising trade in this > ountry, and its simultaneous and enormous increase in the United States is fraught with considerations equally humiliating and alarming. The British Whale and Seal Fishery Company propose to commence their operations in the northern fishery, where their expectations of success are founded on statistical reasoning, which seem to be irrefragible. It appears that so extraordinarily fluctuating is the produce of that fishery, from the state of the seasons and the ice in the Arctic regions, that, in one of a series of thirty two years — during which the quantity of oil attained by each ship has been accurately as- ' certained — the average quantity for each was less than 11 tons; involving, of course, the owners of all in enoimousloss; while, inano- i theryear, the average quantity was nearly 190 tons, yielding to all a very large profit. The same disparity is found to prevail between the different ships in the same season ; for, during the present year, while one ship ha> obtained 175 tons, another, equally well navigated, has returned clean. It must be perfectly clear, that a trade so uncontrollably uncertain is, in its very nature, unfit ior individual operation; like fire or life assurance, it must, to be profitable, be conducted on a large scale, and be j spread over a lengthened period. In individual hands it becomes little better than a gambling speculation : the successful quietly pocket their gains, and retire : the losers throw up the game in disgust. Thus has the nor-

them fishery decayed. The decline of the southern fishery appears to have been chiefly produced by other causes, which, embracing evils beyond individual remedy, appear likely to be amended by a powerful company. The leading merchants of the city sanction it by becoming directors."