Despite the relatively low production permitted in 1969, the landed value 

 reached an all-time high of $22 million. Since regulation began in 1932, the value 

 of the Canadian catch has increased 18 times and that of the United States has 

 doubled in terms of United States dollars of equivalent purchasing power in 

 1932 and 1969. 



The cumulative gain in total catch of halibut above what an unregulated fishery 

 would have produced over the past 37 years has been worth at least $300,000,000 

 to the North American economy — a very high return from the $5,800,000 that the 

 United States and Canada combined have provided the Halibut Commission 

 since 1930. 



MANAGEMENT OF THE RESOURCE 



The Halibut Conventions or Treaties 



The initial 25 years of the Pacific Halibut fishery was a period of unrestrained 

 exploitation, limited only by market demands. By 1915 the halibut industry ex- 

 pressed deep concern when expansion to new grounds failed to sustain the total 

 catch. Also, scientific studies during World War I by the British Columbia Govern- 

 ment confirmed the fact of depletion of the resource. 



Continuing efforts of the industry finally led to the first Halibut Convention 

 between the United States and Canada in 1923. This provided for three months 

 closure during the winter spawning season and created the International Fisheries 

 Commission to investigate the fishery and propose further measures for its rebuilding. 



The closed season alone was shown to be ineffective in halting the decline in 

 the resource and a new Convention was signed in 1930 to broaden the Commission's 

 regulatory powers. Commission studies proved overfishing was the cause of depletion. 

 As the stocks were rebuilt, the Conventions of 1937 and 1953 further extended the 

 authority of the Commission to meet the changed conditions. 



The 1953 Convention changed the name of the Commission to the International 

 Pacific Halibut Commission. The Convention specifically required that all Commission 

 regulations be based on scientific studies, and that the stocks be developed and main- 

 tained at levels that would permit the maximum sustained yield. 



The International Pacific Halibut Commission 



The Halibut Commission consists of six non-salaried members, of whom three 

 are appointed by the President of the United States of America and three by the 

 Canadian Governor General in Council. Decisions are made as individuals as there 

 are no national sections. A Director of Investigations, who is responsible for the staff 

 of scientists and administrative persons, is employed by the Commission. 



All Commission functions are centred at its headquarters in Seattle. They 

 involve maintaining a comprehensive research program, collecting statistics on the 

 fishery, developing and administering the regulations, chartering of vessels for field 

 studies, publishing scientific and administrative reports. Other duties include budget- 

 ing and disbursing appropriated funds, which are provided in equal shares or moieties 

 by the two countries. 



The Commission holds a regular Annual Meeting and occasionally Special Meet- 

 ings, usually at its headquarters, but from time to time at other important halibut fish- 

 ing centres. At Annual Meetings it reviews with the staff and with the industry the 

 progress of the fishery and results of research. Also, it approves a budget, a research 

 program and the regulations for the succeeding year. 



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