Dr. Mac Culloch on the Herring. 225 



purpose of offering a few remarks on the singular state of the 

 market. 



If we take the year 1820 as a standard, the herring fishery has 

 not only arrived at its maximum, but has exceeded that, and must 

 be reduced. It has, once at least, exceeded the demand, as I shall 

 presently show. Now as the supply appears inexhaustible, and as 

 the demand for food appears equally so, it is an object of curiosity 

 to inquire what it is which has thus brought it to a state of rest ; a 

 state of rest which would at least seem to render all further en- 

 couragement unnecessary. This is true of other fisheries. The 

 Ling fishery of Shetland is in the same state, restricted by an in- 

 sufficient demand. If it is inquired why they do not fish more, the 

 fishermen answer briefly, " the people will eat no more salt fish." 

 Thus they account for that limited demand which checks their in- 

 dustry, and which also, as in all similar cases of limited and doubt- 

 ful demand, generally keeps the supply down to a state somewhat 

 lower than that which would really find a sale. This must be re- 

 collected, in examining this question; for however a greater or an 

 occasionally higher sale might occur, it is the business of the pro- 

 ducer, for his own interest, first to take care that there is really a 

 demand, and then to watch that his supply shall not exceed it. It 

 is the object of the merchant to see that demand both precedes and 

 exceeds supply. 



It appears very difficult, practically, to admit the theory of the 

 fishermen as it relates to the consumption of salt fish. As to the 

 West India demand for herrings, that can be accurately calculated, 

 because it is compulsory on the consumers. The Spanish demand 

 for ling is equally certain and regular; because it is also com- 

 pulsory from other causes, and because there is no great fluctuation 

 in the number of consumers. In neither case is it a matter of 

 taste or opinion, and it is therefore subject to no caprices. But 

 that the people of Britain who are often in want of animal food, 

 those of Ireland and Scotland in particular scarcely ever seeing it, 

 should refuse to eat salt fish, is hardly credible. They assuredly 

 show no dislike to it on the sea-coasts where they have ready ac- 

 cess to it ; and in most maritime districts indeed, it forms a princi- 



Vot. XVI. Q 



