ECONOMICS OF THE FISHERIES 411 



to all commodities and to all fish were down to a third of the earlier figures. 

 The actual money value for 39 million pounds of mackerel in 1940 was 

 increased by less than 50 per cent over what it had been for 10 million 

 pounds in 1890, i.e., by a fourfold increase in quantity, and the purchasing 

 power of the total money received by fishermen was approximately the 

 same in 1940 as it had been in 1890. The loss of popularity of mackerel 

 may be due to the diminishing demand for salt fish, and also to its fat 

 content as a fresh fish. 



These examples of economic behavior of well known large-volume common 

 food fish clearly demonstrate that the total revenue of a fishery is not neces- 

 sarily increased with increasing abundance or production of fish nor, as we 

 have already seen, is it necessarily diminished by decreasing abundance. 

 If fish become more abundant and the fisherman tries to increase his income 

 by catching more fish, prices may react disproportionately downward to 

 such an extent that total actual money and purchasing power of the proceeds 

 may be and often are smaller on the increased catch. 



Neither are deficiency of supply and diminution of production per capita 

 necessarily and of themselves sufficient to assure countervailing higher 

 prices, though they may and in some instances they do. The total production 

 of shad dropped in the late period to less than a third of what it was in the 

 early period and, per capita, to less than a sixth; prices of shad increased 

 at about double the rate of increase of general fish prices, the actual dollars 

 received were cut to a half, and purchasing power to little more than a third 

 in 1940 of what it had been in 1890 and 1908. We can only surmise what 

 would have happened to the shad fisherman's income if the efforts to restore 

 the original abundance of shad had been successful.^ ^ 



On the other hand, flounders (collectively of several species usually sold 

 as "sole") have yielded greatly increased amounts, both absolute and per 

 capita, at rising prices, with twelve times as many actual dollars in 1940 as 

 in 1890, and more than nine times as much purchasing power. 



The pompanos, although never abundant, about doubled in production 

 between 1890 and 1940 along with human population, but actual price more 

 than doubled and relative buying power price has increased more than 60 

 per cent and the fisherman can buy more than three times as much other 

 goods with the proceeds of the catch. 



Mullet has behaved well since 1890, the production keeping pace with 

 growth of population, at advancing prices, actual and relative to other 

 commodities and to all fish, and with three times the actual money proceeds 

 and twice the purchasing power. The "sea trouts" (squeteagues or weak- 



52. We are dealing here with national totals and yearly averages; effects might be quite differ- 

 ent locally and seasonally. For example, if the production of shad should be increased in North 

 Carolina or South Carolina in March, the effect might be much more favorable than if it occurred 

 in Delaware in late May. 



