THE FISHERIES. 67 



at a low rate of interest, in the same way as for 

 drainage purposes, and a short amendment of the 

 Land Improvement Act will supply all the necessary 

 machinery for that purpose : but we feel convinced 

 that fishing speculations will never thrive so well as 

 when carried on in person by the fishermen them- 

 selves, at their own risk, and for their own profit, and 

 we are satisfied that the struggle for independence 

 which this encouragement, if conceded, will excite, 

 would be attended with the most salutary results, 

 social and political. A grant in aid of the industry 

 of the coast population, will be a humane and long- 

 demanded remedial measure, and a safer investment 

 than advances, for labour-rates or poor-law unions. 

 We would suggest, then, a limited grant, in aid of a 

 loan-fund, in localities selected for the experiment ; 

 the sums advanced to bear a small rate of interest, 

 and to be repayable in four years, by annual instal- 

 ments of 25 per cent., each instalment to become due 

 on the 1st of September in each year. If it be asked, 

 what security can the impoverished coast fisherman 

 give — we answer, he can give a mortgage upon the 

 ocean, and draw almost at sight upon the treasuries 

 of the deep. A loan-fund ofiSce, with savings'-bank 

 annexed, will, therefore, be the only machinery we 

 shall suggest, and a bottomry bond, with sureties, 

 the security. We have little doubt as to the results, 

 or of the vahdity and efiiciency of the security ; nor 

 do we fear that our fishing population, temperate as 

 they now are, and industrious and persevering, will 



