This thesis examines the career of William Tallman Russell, a merchant whose life spanned the boom years of the American Whale Fishery and how he relied on strong ties with family, friends, and strangers to mitigate risk in this speculative, pelagic hunt. While his crews traversed distant oceans and foreign political economies, Russell never again went on a voyage across the Atlantic after his years spent working as a supercargo traveling to Savannah and Liverpool. He established his business in candle and oil manufacturing and in the marketing and sale of insurance policies during the 1830s and 1840s, when the New Bedford registered whaling fleet grew to its maximum tonnage. Through his life and experiences assessing maritime risk, this thesis traces the transformation of the American economy and business enterprise from an early modern to a quintessentially corporate world of risk management.