These studies become part of the bench mark data for management if the 

 fisheries development effort is successful. 



Fisheries development efforts are best viewed as special purpose 

 studies, the details of which must be dictated by the specific biological, 

 technological, economic and institutional facts which exist at the time of 

 the study. This is especially true when there is only a small number of 

 fisheries with significant development potential. As will be discussed 

 later, this is the case with U.S. fisheries. While the number of fisheries 

 with significant development potential is not large, some of the under- 

 developed fish stocks are quite large. For examples, the combined annual 

 yields of the New England herring and mackerel stocks. Pacific hake and 

 Alaskan pollock have been estimated at 5.6 billion pounds or 2.5 million 

 metric tons.^ To put these figures in perspective, note that the U.S. com- 

 mercial catch of all species in 1975 was 2.2 million metric tons. Thus, at 

 least in terms of physical or biological yields, the potentials of these 

 stocks are quite significant; being of the same magnitude as total U.S. 

 commercial landings of all species in 1975. 



(b) Foreign 



(i) Foreign allocation 



Section 201(d) specifies that the foreign catch allocation of any 

 fishery covered by the Act shall be that portion of OSY which will not be 

 harvested by U.S. vessels. Thus, the foreign allocation is to be a resi- 

 dual after projection of domestic catches. Domestic catches depend, how- 

 ever, on new investments which are influenced by the economic returns of 



^The reader is cautioned that yield estimates are often very 

 imprecise; especially for undeveloped fisheries where little data has 

 been collected. 



