Page:Craik History of British Commerce Vol 2.djvu/191

Rh Hamburghers, Brerners, or Hollanders, Those Holsteiners cost the Company this year 3056l. 18s. 3d., although but 152 in number; not only because they were all what is usually called officers in that fishery, and consequently had more wages and allowances than the common sailors, but had also their charges borne by the Company both in coming every year from and returning back to Holstein to their families, as was also their constant practice when employed by other nations; whereas above double their number, namely, 353 British subjects, employed on those twelve ships, cost but 3151l. 15s. 5d." The Company, however, the next spring built twelve more ships, and in 1726 the whole twenty-four proceeded to Greenland and Davis Straits. "In which," says our annalist, "they succeeded considerably worse than in their first voyage, having brought home but sixteen whales and a half." In 1727 they sent out twenty-five ships, manned by 762 British subjects and 344 foreigners; when two of the ships were lost, and the rest brought home only twenty-two whales and a half—being not quite one fish for each. At last, in 1732, the Company determined to retire from the trade; their expenditure upon which during the eight years they had carried it on had been 262,172l., while their returns had amounted only to 84,390l., leaving them losers to the extent of 177,782l. "It has been usually computed," observes Anderson, "that, if a Greenland ship brought home but three whales, it would be a reasonably gainful year; but, most unfortunately for the South Sea Company, they had not, in all the eight years' fishery, brought home at the rate of one entire whale per ship, taking one year with another. It has, moreover, been a maxim among the whale-fishing adventurers, that one good fishing year in seven usually makes up the losses of six preceding bad years. But it was very unhappy that all the said eight years happened to be bad, not only to the Company, but to most of the adventurers of other nations." The next year an attempt was made by parliament to revive the trade by the forcing system of a bounty upon the ships employed in it; and other similar artificial