FISHERIES: Tax

In 1851, when Herman Melville finished writing Moby Dick, the golden age of U. S. whaling (1820-50) was on its way out. It probably hit its peak around 1846 when lusty Yankee whalers out of New Bedford and other New England ports came home with some $8,000,000 worth of crude whale oil. But by 1900 the U. S. industry had passed into history due to the exploitation of cheap petroleum products and a scarcity of whales. Since then it has revived, but last week it appeared that it might be doomed once more.

Seven years ago descendants of the owners of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!