THE BOUNTY SYSTEM 183 



At this time the whale fisheries of New England 

 employed about one thousand three hundred tons 

 of .shipping. 



The year 1732 witnessed the last attempt of the 

 South Sea Company to prosecute the Greenland 

 whale fishery unassisted by bounty. Their twenty- 

 one vessels brought home twenty-four and a half 

 whales, also a very unsuccessful voyage. 



The balance sheet after eight years effort, is 

 interesting : 



s. d 



Total issues or disbursements in 8 years .... ... 262,172 9 6 



Sales of oil, etc., and also of the ships ...... 84,390 6 6 



Total loss ... 177*782 3 o 



At this time it was calculated that if a Greenland 

 ship brought home the produce of three whales only 

 it would be a successful voyage, but the South Sea 

 Company whalers did not average one whale per 

 ship, taking one year with another. Whalers 

 reckoned that one good year would make up th 

 deficits of six bad years, so it is particularly un- 

 fortunate that the whole of the eight years of this 

 interesting experiment were alike bad. 



The Company now endeavoured to persuade the 

 Government to grant a bounty to assist them, as it 

 appeared evident to the Directors that otherwise 

 the fishery must be abandoned. 



The first Act of Parliament granting a bounty for 

 the whale fisheries was passed in 1733, but too late 

 for the Company to take part in the fisheries of that 



