The intelligence of the discovery of New South Shetland, and that its coasts abounded in Spermaceti whales, and in seals, quickly and powerfully roused the commercial enterprise both of the British and the Americans.  In the course of a short time, numerous ships of both these nations sailed to its coasts; but from their observations and experience, as well as from a survey of it which was undertaken by the orders of one of His Majesty’s naval officers, commanding on the southwest coast of America, it was soon ascertained that it was a most dangerous land to approach and to continue near.  Its sterility and bleak and forbidding appearance, from all the accounts published respecting it, are scarcely equalled, certainly are not surpassed, in the most inhospitable countries near the North Pole; while ships are suddenly exposed to most violent storms, from which there is little chance of escaping, and in which, during one of the seal-catching seasons, a great number were lost.

There are, however, counterbalancing advantages:  the seals were, at least during the first seasons, uncommonly numerous, and taken with very little trouble or difficulty, so that a ship could obtain a full cargo in a very short time; but, in consequence of a very great number of vessels which frequented the coasts for the purpose of taking these animals, they became soon less numerous, and were captured with less ease.  The skins of these seals fetched a very high price in the China market; the Chinese, especially in the more northern parts of that vast and populous empire, use these skins for various articles of their dress; and the seal skins of New South Shetland being much finer and softer than those which were obtained in any other part of the world, bore a proportionably higher price in the China market.  But the English could not compete with the Americans in this lucrative trade; for in consequence of the charter of the East India Company, the English ships were obliged to bring their cargoes of skins to England; here they were sold, and as none but the East India Company could export them to China, and consequently none except the Company would purchase; they in fact had the monopoly of them, and obtained them at their own price.  The English indeed might take them directly from New South Shetland to Calcutta, whence they might be exported in country ships to China; but even in this case, which was not likely to happen, as few vessels, after having been employed in catching seals off such a boisterous coast, were prepared or able to undertake a voyage to Calcutta; much unnecessary expence was incurred, additional risk undergone, and time consumed.  To these disadvantages in the sale of their seal skins, the Americans were not exposed; they brought them into some of their own ports, and thence shipped them directly and immediately to China.