The Fishery Quest io]L. 23 



basis of a flourishing; trade, the merchants 

 who furnished the capital were wiUing to take 

 many chances and could sustain considerable 

 losses. Statistics of the Massachusetts whale 

 and cod fisheries in 1 764 estimate the value 

 of the business at almost /i 55,000 ster- 

 line/^ England did not take one-third of the m 

 marketable fish. They were sent to France, j 

 Spain, Holland, Madeira, the southern col- 

 onies and later to Brazil and Paramaribo.'^^ 



The West India Islands were consumers of 

 the poorer qualities. In exchange for their 

 fish, the colonies obtained rum, bullion, bills 

 of exchange or commodities, accepted in pay- 

 ment of English manufactures. The impor- 

 tance of the trade was so thoroughly appre- 

 ciated that in the State House at Boston 

 hung a painted codfish, a constant reminder 

 to the legislators of the " staple of the Mas- 

 sachusetts." 



Careless destruction of river fish had in a 

 measure driven the cod from the immediate \.' 

 vicinity of the New England fishing towns, 

 but the fishermen now had the range of the 

 north-east coast to Labrador. The wealthier 

 firms established stations at Canso or in the 

 Bav of Chaleurs. As soon as a more strin- 



