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Nantucket

KNOWLEDGE OF Nantucket

The Grey Lady
The name Nantucket derives from an Indian word that means "faraway land" or "land far out to sea." The name applies to the island, the county that encompasses the island, and the island's main town—the only place in America that can claim such a distinction. The frequent fogs and common gray exterior of most homes has earned the Island the affectionate nickname of "little Gray Lady of the Sea."

First charted in 1602, and originally inhabited by the Wampanoag Indian tribe, the official history of the Island's European settlement begins in 1659, when a group of nine men invested "the sum of thirty pounds…and also two beaver hats, one for myself and one for my wife," to the present "owner," Thomas Mayhew, for the purchase of the island with the initial intent to raise sheep. The investors then offered half shares of property to entice skilled craftsmen to develop the island.

Whaling capital of the world
In 1672, the Islanders found whaling an ideal way to increase revenue. Experienced whalers were recruited to teach residents how to tap the abundant whale population in nearby waters. However, the whale population in nearby waters diminished over time, and whalers had to venture further out to sea to find more of the profitable mammal. On one of these voyages, in 1712, a boat blown off course discovered a pod of sperm whales, whose oil and by-products were considered preferable to those of local whales. The Island subsequently became the center for exploitation of sperm whales.

Nantucket flourished as the "Whaling Capital of the World," and as the home base for entrepreneurs and investors interested in the products and by-products of the whaling industry. Nantucket's prosperity lasted until the mid-nineteenth century, when it was brought to a halt by a series of events. A sandbar formed, denying larger and heavier whalers access to the harbor. The town was hit by the great fire of 1846. The 1849 gold rush drew whalers to California, depleting the work force, and mainland whaling centers, like New Bedford, Massachusetts, gained the advantage of rail links to the rest of the country. The final blow came as cheaper petroleum products destroyed the market for whale oil The Island went into an economic decline that lasted until tourism came to the rescue.
Chapi
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