36 CAPTAIN ZACHARY G. LAMSON 



of Salem, who was quoted as saying, that 

 " under the conditions prevailing in Europe, 

 an honest ship master could not carry on 

 his business, and, therefore, the vessels of 

 all honest men had better be tied up at the 

 wharves." It is hinted in the "Salem Ga- 

 zette" of that day, that certain large ship- 

 owners who were in favor of the embargo 

 had many of their vessels abroad and an 

 accumulation of goods in their warehouses, 

 so that they stood to profit by the act both 

 abroad and at home. 1 The "Boston Palla- 

 dium" of Jan. 13, 1809, expresses the same 

 idea. "The people who were the greatest 

 gainers by the embargo were the great cap- 

 italists, who had on hand when the em- 

 bargo was laid, immense stocks of foreign 

 goods which this unjust system has occa- 

 sioned to rise. Mr. Smith of Maryland, 



1 "Mr. Gray having an immense property in France 

 and countries subject to France is in favor of that policy 

 which will preserve peace with Napoleon, and having a 

 good stock of Indian, Russian, and Italian goods on hand, 

 he is daily growing richer by the embargo." Newbury- 

 port Herald, Aug. 26, 1808. 



