ECONOMICS OF THE FISHERIES 423 



mackerel, and also on a 50 per cent decrease in Lake whitefish; in several 

 species (halibut, flounders, pompano, hard crab), with increased production 

 prices also increased or were maintained with increase in total value; in 

 shad, lake herring, bluefish, on decreasing production prices were insufficient 

 to maintain total values which accordingly decreased. 



Strong demand is the only factor which is invariably beneficial to the 

 fisherman. Increased value may be realized from smaller or larger or un- 

 changed quantity of fish according as demand makes it so; increase in 

 quantity of production without increase in demand, or a corresponding 

 decrease in other fish, is certain to result in lower prices and lower total 

 revenue to the fishermen. 



A comparison is made of oyster, shrimp, and crab, and the total of all 

 three. The production of oysters decreased by 50 per cent from 1890 to 

 1940, and the price did not rise sufficiently to compensate; total real value 

 declined to 40 per cent of the early value. Shrimp production increased 18 

 times, price doubled and money value in terms of buying power increased 

 26 times. The blue crab also enjoyed a similar but not such great economic 

 exaltation. Contrary to widely expressed concern at the decline in abundance 

 of oysters, the signs indicate that the oyster industry is suffering from a 

 weakening of demand and perhaps also excessive costs in the heavy em- 

 ployment of labor and the penalty for failure or inability to mechanize; 

 that the shrimp with many advantages of lower cost of production by mass 

 methods, less need for hand labor, high yield of edible portions, and brisk 

 demand at rising prices is providing serious competition which the oyster 

 industry has been unable to meet. The total of oysters, shrimp, and crab 

 has held constant in both quantity and actual money and has declined in real 

 money value, despite the increase in human population. 



