It really isn't right to talk about that speech and then not cite Melville, given how Moby Dick is invoked at the end of the scene. Continue after the jump if you're interested.
Here's Melville explaining to us why the whalers, and Ahab in particular, hated Moby Dick:
Forced into familiarity, then, with such prodigies as these; and knowing that after repeated, intrepid assaults, the White Whale had escaped alive; it cannot be much matter of surprise that some whalemen should go still further in their superstitions; declaring Moby Dick not only ubiquitous, but immortal (for immortality is but ubiquity in time); that though groves of spears should be planted in his flanks, he would still swim away unharmed...
Nor was it his unwonted magnitude, nor his remarkable hue, nor yet his deformed lower jaw, that so much invested the whale with natural terror, as that unexampled, intelligent malignity which, according to specific accounts, he had over and over again evinced in his assaults. More than all, his treacherous retreats struck more of dismay than perhaps aught else. For, when swimming before his exulting pursuers, with every apparent symptom of alarm, he had several times been known to turn around suddenly, and, bearing down upon them, either stave their boats to splinters, or drive them back in consternation to their ship.
Already several fatalities had attended his chase. But though similar disasters, however little bruited ashore, were by no means unusual in the fishery; yet, in most instances, such seemed the White Whale's infernal aforethought of ferocity, that every dismembering or death that he caused, was not wholly regarded as having been inflicted by an unintelligent agent.Judge, then, to what pitches of inflamed, distracted fury the minds of his more desperate hunters were impelled, when amid the chips of chewed boats, and the sinking limbs of torn comrades, they swam out of the white curds of the whale's direful wrath into the serene, exasperating sunlight, that smiled on, as if at a birth or a bridal.
His three boats stove around him, and oars and men both whirling in the eddies; one captain, seizing the line-knife from his broken prow, had dashed at the whale, as an Arkansas duellist at his foe, blindly seeking with a six inch blade to reach the fathom-deep life of the whale. That captain was Ahab. And then it was, that suddenly sweeping his sickle-shaped lower jaw beneath him, Moby Dick had reaped away Ahab's leg, as a mower a blade of grass in the field. No turbaned Turk, no hired Venetian or Malay, could have smote him with more seeming malice.
Small reason was there to doubt, then, that ever since that almost fatal encounter, Ahab had cherished a wild vindictiveness against the whale, all the more fell for that in his frantic morbidness he at last came to identify with him, not only all his bodily woes, but all his intellectual and spiritual exasperations.
The White Whale swam before him as the monomaniac incarnation of all those malicious agencies which some deep men feel eating in them, till they are left living on with half a heart and half a lung. That intangible malignity which has been from the beginning; to whose dominion even the modern Christians ascribe one-half of the worlds; which the ancient Ophites of the east reverenced in their statue devil; - Ahab did not fall down and worship it like them; but deliriously transferring its idea to the abhorred White Whale, he pitted himself, all mutilated, against it.
All that most maddens and torments; all that stirs up the lees of things; all truth with malice in it; all that cracks the sinews and cakes the brain; all the subtle demonisms of life and thought; all evil, to crazy Ahab, were visibly personified, and made practically assailable in Moby Dick. He piled upon the whale's white hump the sum of all the general rage and hate felt by his whole race from Adam down; and then, as if his chest had been a mortar, he burst his hot heart's shell upon it.
I love this--and I had to cut out some of the best lines to make it manageable. So much beauty in here, the whale declared ubiquitous and immortal, "an Arkansas duelist," Ahab's leg "reaped away." And then less obvious stuff--the boats are "stoved around him," the men "both whirling in the eddies" and then Ahab, not retreating, but crazed with anger dashing forward.
And of course that last graph--"hate felt by his whole race from Adam down; and then, as if his chest had been a mortar, he burst his hot heart's shell upon it." This is one of my top five favorite passages. I wonder how many times he rewrote those sentences.