126

119)
1833
9m/o

The Whaling business has been uncommonly good & productive for a number of years past almost all that have been concerned in it have accumulated property some have been made rich, especially those of the Manufacturers. Notwithstanding such vast quantities of Oil has been imported, the increased consumption has more than counterbalanced, so that the price of Oil in a crude state & also manufactured, has increased in price for some time, & no market over stocked, nor likely to be during the present year.
Oil as it comes from sea is 90 Cents
Winter Oil is 110 Cent
Summer Oil 95 to 100 Cents
Fall Oil 100 & rising
Candles 32 Cents
But notwithstanding the flattering statement as above, I am of the opinion that a depression may be expected which will sink many of the Owners of Ships into a state never to rise again into flourishing business.
I think the price of Oil will not lessen, but is likely to increase, for the consumers are so numerous, & particularly the factory's [FACTORIES], that they cannot well do without it, even if the price should be much higher than it now is.
But I am quite of the opinion that the business is over done with the vast number of Ships that are & likely to be in pursuit of the Whales.
I don't know the exact number of Ships that are now in the service & those intended for the business, but I believe the number is over 300 & it appears that in many Seaports the principal business is Whaling, wheras [WHEREAS] but a few years past nothing was done in that line.
The length of the Voyages have become very long, three years in now considered an average