124 
REVENUE AND INCOME. 
Bbls. Sperm. 
• 
Bbls. Whale. 
Lbs. Bone. 
Imports for 1848 
107,976 
208,856 
2,008,000 
" 1847 
120,755 
313,150 
2,341,680 
"1846 
95,217 
207,493 
2,276,939 
" 1845 
157,917 
272,730 
3,167,142 
" 1844 
139,594 
262,047 
2,532,445 
166,985 
206,727 
2,000,000 
"1842 
165,637 
161,041 
1,600,000 
"1841 
159,204 
297,348 
2,000,000 
" 1840 
157,791 
207,908 
2,000,000 
Average for nine years 
1,271,171 
2,047,300 
20,926,206 
141,242 
235,456 
2,324,578 
The present value of sperm oil is $1.40 per gallon, but usually about $1.00, 
equal to $32.00 per barrel. The value of whale oil $10.54 per barrel ; and 
of bone 33 cents per pound — equal to $4,519,744 for the average of sperm, 
$2,472,288 for whale, and $367,110 for bone: Total, $7,356,142, annually 
fished up out of the sea. This is a sum far greater than that which is an- 
nually gathered for commerce out of all our magnificent forests. 
We are not able to state the precise number of vessels employed in the 
Pacific, or how much of this seven millions and a third should be credited to 
that ocean, though in 1846 there were 292 vessels fishing on the northwest 
coast alone ; and they took, while there, 253,000 barrels of oil. We may 
safely assume that two-thirds of the whole number of vessels engaged are 
employed in the Pacific ; and that three-fourths of the oil taken come thence, 
for the vessels of the Pacific are larger than those in the Atlantic fishery. 
This would give for the Pacific, in round numbers, 400 vessels, yielding an- 
nually five millions and a half of money. 
The cost of outfit and vessels for this fleet is about $28,000 per vessel ; the 
average length of a voyage (mean of right and sperm whales) is three years ; 
of which one-third is lost in going and returning from the whaling grounds, 
lying in port to re-cooper, refresh, &c, leaving but two years of actual fishing, 
or eight months in twelve. 
The rate of insurance upon vessels and outfits is three per cent, per annum, 
and the legal interest upon money invested in ships and outfits, which make 
no return until the end of the voyage, is six per cent. The loss by leakage is 
five per cent, during the voyage. 
If this oil, then, instead of remaining on board the vessel from one to two 
years (for that which is taken the first year remains on board two years, and 
that which is taken the second, one year), as dead capital, could be sent home 
across the Isthmus at reasonable tolls, the gains would be great, for there 
would be a saving of both time and substance ; the leakage would amount to 
but one per cent, instead of five ; half the time, at least, that is now employed 
in consequence of having to desert the whales to cooper the oil, refit, and re- 
