ABSTRACT
In a previous chapter, somewhat anticipatory of exact chronology, mention has been made of a fortunate speculation by Commodore Jones. This affair occurred at the time of which we now write. Prior to Ms appointment as agent for the collection of prize-money, the Commodore had turned his attention, in default of other occupation, to commercial possibilities. Knowing that there was a brisk market for illuminating oils in Europe, and aware also that large quantities of whale oil had been tied up in American warehouses during the war, he concluded that good returns must accrue from the prompt shipment of it. Therefore, on leaving Bethlehem early in September, 1783, he went to New York, New London, New Bedford, and as far as Boston, to arrange for the purchase and shipment of several cargoes of oil to Nantes, Antwerp, and Amsterdam. His personal credit at this time seems to have been unlimited, as may be judged from the ease with which he obtained the bond in the sum of $200,000 required by the Act of Congress appointing him prize-money agent. At all events, he had no difficulty in chartering ships and negotiating for cargoes of oil on terms 87requiring very small cash advances. At the same time he wrote to Dr. Bancroft in France, to the Van Staphorst Brothers, of Amsterdam, and to Neuville & Co., of Antwerp and Brussels, to arrange for disposing of the cargoes on arrival, and, of course, consigning the oil to them as his correspondents, his bankers being, in Paris, Le Grand; in Amsterdam, Van Berckel, and at Antwerp, Neuville. The author of the "Historical Anecdotes," previously quoted, says that the Commodore's profits from this enterprise were "£7,500 to £8,000." This is probably an exaggeration, but they must have been considerable—doubtless at least more than half of the sum mentioned.
