Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-03-20

that it is place Of activity, enterprise,
business, and consequence. Their
shipping amounts, think, to more than
10000 tons. They are principally
icugugeu IN the wnaIe f1snery, ard nave
Inow IN that employment 10 ships, aud
% vessels Of less dimensions. These
Iships amount to more than one-thiTd
land almost one-half Of the whale fishe-
Try of the United States. This fishery
is carried on principally in the Pacific
Ocean, and three years may be fairly
estimated as the period of a voyage. -
The preparation and sale of the oil re-
Iquires another year. Thus four years
must elapse, after the ship is fitted and
prepared, and sent to sea, before the
profit or income of the voyage can be
realized.
The memorialists observe ""that,
from the precarious and tardy manner
in which the products Of their industry
are realized, they quickly feel any sud.
den and unexgected arrangement o.
the currency, and that all who are en-.
gagged IN the Same pursuit must be 81.
milarly situated. That 10000 seameE
employed in this fishery, besides vast
numbers Of mechanics, laborers, and
TRADERS connected With il, are Deepen
dent upon the slow moving operation
Of their particular trade.
| This memorial, in fact, presents to
this House, the valuable aud important
national interest of the uhaie fishery.
In this fishery, owners, master, and sea-
men, are all partners, ana by their adj
mirable arrangement, skill, industry,
and daring intrepidity, they have sur.
(passed all other nations and have been
eminentiy successful. They have been
successful under the general protection
Iof our Government, but have received
no extraordinary aid. Not SO with
European nations; they have given
great encouragement by direct boun-
ties and duties. Now the prospect is
that not only the owner of these ships
but the 10000 seamen, partners in the
} business, after the expiration of the
years voyage, when they return, must
go to their fpnilies pennlless: | fear
, they may not have dollar to receive.
This memorial presents TO the conside-
ration of this House, the vast national
, importance of the Whale fishery. 1t
affords light and comlQrt--it affords
encouragement and profit TO those who
furnish the timber for the ships, from
one end of the United States to the o.
lther--to numerous mechanics and ship
builders the farmer and planter,
who furnish provision and supplies -
The capital employed is great, and in
erery Uiew the national interests great.
But the main and principal national be-
neft ISL reparatiop for national defence.
By means of this fishery, we have an
army of seamen trained and rendered
most skilful and daring for our defence.
They cost nothing in time of peace
In case of war, they are ready and
able to defend their country; and no
signal victory, on the ocean or lakes,
has or ever will be gained without their
efficient aid.
] These memorialists state that they
have met with severe disasters in the
prosecution Of their legitimate business.
They candidly admitthat part of their
sufferings is owing to over-trading and
speculation; and, standing here as their
] Representative, do not desire to pass
over that admission unnoticed. wish
to put this House in possession, not on
lily OF the truth, but the whole truth,
touching this subject. But they insist
that the distressing calamity they now
suffer is mainly owing to the pressure
and panic consequent upon the ren'ordl
lot the public depoSitss. They aver that
no caution, no activity, no foresight,
,, could have averted the blow. 1t came
upon them like tornado, and they had
no warning, to reef or furl their sails,
and many must be more or less torn
and shattered, and not a few utterly
'shipwrecked.
The memorialists believe their dis.
tress has arisen from the withdra wa |
ofthe deposites, and other measures of
the Executive in relation to the Bank
ofthe United States. By withdrawn
the deposites, the Bank of the United
States was compelled to curtail its dis
counts. and reduce its paper in circula-
ton. But here it is worthy of particu-
lar notice, that State Banks have been
compelled to reduce their discounts and
money in circulation, by still more Sc
we're restrictions, for the plain reason,
that they had less specie in their vaults,
in proportion to their paper in circula-
ton, than the Bank of the u. States.
1t is well known that there is no Branch
of The United States Bank in New Bed
ford.
New Bedford has four banks, whose
capital, united, amounts to S1,3O0,0OO
In October last they had
in circulation 60,OO0
They have now only $4,000
Which shows a reduction of $4,000