104 <A History of the American Whale Fishery. 
by oil and bone. But these prices soon fell.° England 
tried to take over the whale fishery, paying heavy boun- 
ties to build up an industry which could supply the de- . 
mands of the markets. At the same time the American 
trade was practically excluded by an alien duty of £18 
per ton. This duty had a far-reaching effect on the 
American industry. Oil which was worth £30 per ton 
before the war now brought only £17, while £25 per ton 
was the lowest price which would leave the merchants 
any margin of profit. The English demand had been 
practically the only important foreign market, and with 
the loss of it, the situation was becoming desperate. The 
rise and fall of prices may be seen from the accompanying 
table 3” 
Sperm Oil Sperm Oi 
Year. per ton. Year. per ton. 
TVIAZION! a nae atria shar ots ey) | EON. a\feor-s cpanel abisia ve £40 
TITAS! consicte ste stsigvatotys £14 L(G tae Fy fA eT £45 
TO OM chateie ie le «ifaiiey eters £18 OS sch ale ereie tee ete £40 
TG Ol ae SNe cone lee te,» £18 LOAN sve kia keL hens £24 
In 1785 Massachusetts provided for a bounty on whale 
products to help along the industry, but its finals effects 
were not wholly good The fishery was unnaturally 
stimulated and the imports of oil and bone soon exceeded 
the demand. The long suspension in the use of oil during 
the years of the war had resulted in a more general return 
to the use of tallow candles. Over production, there- 
fore, prevented the hoped for increase in prices and 
profits. It was at this time that the Nantucket whalers 
carried on negotiations with England and with France in 
regard to a transference of their interests to those coun- 
tries where more favorable conditions were presented." 
A commercial treaty with France in 1789, however, 
gave promise of more prosperous conditions, by opening 
16 Starbuck, p. 78. 
1” Macy, pp. 226-227. 
18 Macy, pp. 134-135. 
® Starbuck, p. go. 
a ee 
