the Dominion program for fisheries research 

 and services which in fiscal 1957-1958 ex- 

 pended $9,250,000 against a total expendi- 

 ture by the United States Fish and Wildlife 

 Service of $9,6tiii,000 for similar activi- 

 ties . There is no substantial difference 

 in dollar amounts, but there is in terms of 

 the relative size of the United States and 

 Canadian fisheries . The United States 

 catch of fish and shellfish is about 2.5 

 times annual Canadian production. 



Of substantial aid in the post-war 

 growth of the Canadian groundfish industry- 

 have been the provincial loan funds for 

 vessel and plant construction. Plant con- 

 struction loans have usually been made 

 tlirough industrial development loan agen- 

 cies, vjhile vessel construction loans have 

 been made through specialized fishery loan 

 boards. The vessel loans have been directed 

 toward the construction of the smaller long- 

 liners and draggers for which subsidy aid 

 is also available. The larger trawlers 

 have been built with private financing with 

 one exception. In Newfoundland, from its 

 inception in 1951 through 1958, $1,050,000 

 has been loaned to fishermen at 3i percent 

 interest. Of the total, $580,000 was for 

 vessel construction and $1j70,000 for pur- 

 chase of used Vessels, engines, mechanical 

 gear, etc. The low interest rate of ^z 

 percent indicates some subsidy in recent 

 years, since it costs the Province more 

 than that to borrow the loan funds. 



Loan rates in Nova Scotia are a more 

 realistic ii|-5 percent, and over $li, 000,000 

 has been loaned since 19^4 with a loss 

 ratio of 2 percent. On the federally, sub- 

 sidized vessels, the Nova Scotia Fisheries 

 Loan Board will loaxi up to 70 percent of 

 the balance on a 5-year loan. 



In the United States, Federal loans 

 for vessel construction are also available 

 but at higher interest rates which, when 

 set against the generally poor economic 

 outlook in the groundfisheries, have not 

 acted to revitalize the industry. The 

 loans have been of substantial aid, however, 

 in preventing further deterioration. 



The Dominion Government in Canada also 

 insures loans to fishermen up to $U,000, 

 and thus guarantees repayment to private 

 lenders who make funds available under 

 sound criteria for repayment. 



Unlike any United States government 

 program, the Dominion will furnish hull 

 insurance for certain fishing vessels at a 

 cost of 1 percent of appraised value. The 

 plan, however, covers only small vessels 

 valued between $250 and $10,000, and hence 

 is not of direct competitive significance. 

 Further, this is not particularly low cost 

 hull insurance when compared with rates, 

 paid by large trawlers. No private under- 

 writer, however, could probably offer such 

 rates because of the administrative costs 

 involved in serving such small units. 



One form of Federal and Provincial 

 aid to the fisheries, which might well be 

 pursued in New England, is a fairly ex- 

 tensive school program to trajn fishermen 

 in navigation, engine maintenance, and the 

 operation of the latest m.echanical and 

 electronic equipment now available to the 

 medium-sized fishing vessel. Costs of such 

 programs are usually shared by both the 

 Dominion and the Provinces, although the 

 latter may often finance it alone. Since 

 I9I46, in Nova Scotia, over 1,200 men have 

 received this specialized training and have 

 been paid a modest per diem allowance while 

 attending such schools. 



Although New England fishermen have 

 been able to collect unemployment compen- 

 sation for some time, this was extended to 

 Canadian fishermen only on January 1, 1958. 

 The Act is designed particularly to cover 

 seasonal unemployment between January 1 

 and April 15 and will pay up to $30 a week 

 for this period, the amount and extent of 

 benefits depending on the quantities of 

 fish landed in the previous season. Al- 

 though benefits are considerably lower than 

 in New England, they may reflect the dif- 

 ference in living standards . It is only 

 recently that anything has been done to 

 relieve the spectre of vrinter unemployment 

 in the fisheries. 



Summary and Conclusions 



New England's greatest competitors in 

 the groundfish industry are the Atlantic 

 Provinces of Canada. The economy of the 

 Provinces is a resource-based one in which 

 the fishing industry is significant and 

 substantially of greater relative impor- 

 tance than is the case in New England. 

 Historically, fishermen and fishing inter- 

 ests in Canada have been able to influence 



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