Table 1. — Vessels, boats, and fishermen — United States and Alaska — 1957 



•'" Fishermen on boats combined v/ith those on vessels. 



Note : Some duplication may be included within areas when vessels fish from sev- 

 eral ports. This has been excluded in the total. 



These boats and vessels landed nearly 4.8 billion pounds of fish valued more 

 than $351 million. 



HISTORY OF FISHERIES LOAN FUND 



In 1955 and 1956, during the 84th Congress, a number of bills were introduced 

 to alleviate the financial and other difficulties being experienced by the connmercial 

 fishing industry. The following bills proposed various types of fisheries loans, 

 as well as other remedial actions: H.R. 8001, H.R. 9552, H.R. 10813, H.R. 11309, 

 H.R. 11570, S. 2379, S. 3275, S. 3339. A number of identical or similar bills were 

 also introduced. Extensive hearings were held on these bills and the net result 

 was the inclusion of authorization for the fisheries loan program in the Fish and 

 Wildlife Act of 1956 (Appendix No. 1). This Act provided for reorganization of the 

 Fish and Wildlife Service, established a comprehensive national policy on fish and 

 wildlife resources, transferred various fishery functions from other agencies to 

 the Department of the Interior, and provided for the fisheries loan program. 

 Section 4 of the Fish and Wildlife Act of 1956 (16 U.S.C. 742c) provided for a 

 revolving fund of $ 1 million to be used for loans for financing and refinancing 

 of operations, maintenance, replacement, repair and equipment of fishing gear 

 and fishing vessels, and for research into the basic problems of fisheries. An 

 appropriation of $ 1 million to implennent this program was passed and signed by 

 the President in August 1956. Section 4 of the Act reads as follows: 



(a) The Secretary is authorized uncjer rules and regulations and under terms and conditions prescribed by him, to 

 make loans for financing and refinancing of operations, maintenance, replacement, repair, and equipment of fishing 

 gear and vessels, and for research into the basic problems of fisheries. 



(b) Any loans made under the provisions of this section shall be subject to the following restrictions: 



(1) Bear an interest rate of not less than 3 per centum per annum; 



(2) Mature in not more than ten years; 



(3) No financial assistance shall be extended pursuant to this section unless reasonable financial assistance 

 applied for is not otherwise available on reasonable terms. 



