1870s: Whaling's Decline
Costly whaling ventures caused capitalists to gravitate toward new domestic industries, like textiles, railroads, petroleum, and steel. As American industrialists diverted their money from whaling into more lucrative pursuits, technology in other parts of the world (mainly from Norwegian enterprises) surpassed American productivity.
Instead, the city diversified into the textile industry, becoming one of the lead cotton textile manufacturers in Massachusetts during the next century. Economic activity moved away from the waterfront district and into wards further east. The once strong whaling industry and the maritime community that supported it started to dwindle, and the city's landscape changed once more.