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To be honest I usually do not even bother with the tannery unless the Crown demands it and I need the mandate increase. One is not enough, I do know that.
When you get to the World Wars, add a tobacco plantation and build a cigar factory. Since you already have planks, put in the shipyard too. That alone can make you decent money if you watch you spending and population. I add in the immigration office early and set it to Tropicans First toggling it back and forth depending on labor demands. Once you reach say about $80,000 add a bank and than a second one when you can afford it. The idea is to keep the treasury above $50,000 to max out the bank's interest.
Despite people's insistence that boats are overpowered, rum is king early on in the game.