ECONOMICS OF THE FISHERIES 



379 



Biologically the total out-take from the water is understated if the adjust- 

 ment for neither the bait nor salt fish is made, or if both adjustments are 

 made. Economically, if neither adjustment is made, the two distortions tend 

 to compensate as to quantity but not value. We made a set of tables in which 

 the adjustment was made for New England salt fish only (not bait), but 

 they are not here used because on balance they appear to introduce at least 

 as much distortion into the general tables as they correct. In some of the 

 subsidiary tables, where the data are available for specific fishes (as cod and 

 mackerel) the quantities are converted from salt to fresh weight basis, as 

 they must be for proper comparison. All of these uncertainties being taken 



1687 1890 1693 1896 1699 1902 1905 1908 1911 1914 1917 1920 1923 1926 1929 1932 1935 1938 I94i 



1887 1690 1893 1896 1899 1902 1905 1908 1911 1914 1917 1920 1923 1926 1929 1932 1935 1938 1941 



Fig. 7. Test comparison for validity of procedure. 



Top curve: Actual record of weighed-in production (all food fish) trip by trip New England 

 vessel fisheries, Boston and Gloucester (from 1891) and Portland, Me. (from 1916) as yearly 

 totals, to 1940; salt fish converted to fresh by the factor of 2; dot-dash line, s-point moving 

 average, 1892-1924. 



Middle curve: Production of all food fish, seven regions of the United States adjusted, inter- 

 polated, and totaled as described in text; dotted line, estimated correction if all salt fish are 

 converted to fresh; (does not include Alaska or Mississippi River system). 



Bottom curve: Population of the 48 United States, Bureau of Census yearly estimates. 



into account, and balanced one against another, it appears probable that the 

 conclusions drawn herein would not be changed qualitatively and would be 

 changed only slightly quantitatively by such adjustments as could be made. 

 Validity of Data and Procedure. As test of the validity of the main tables 

 and graphs as drawn up above, there is available for comparison the record 

 from 1 89 1 to 1940 of the landings of the New England vessel fisheries. This 

 is the only continuous annual (except only 1892) and undoubtedly the most 

 accurate record we have of a major fishery in the country, the weighed-in 

 quantities and actual sales transactions being recorded. 



