34 THE SCOTCH EAST COAST HERRING FISHING, 



supports. Calculating that the average export for the past 

 ten years is 600,000 barrels yearly, that would give as 

 from 500 to 600 cargoes yearly. The average freights to 

 the five principal herring-receiving ports on the continent, 

 viz. Hamburg, is. 8d. ; Stettin, 2s. ; Danzig, 2s. 2d. ; 

 Konigsberg, 2s. $d. ; and Libau, is. lid. total average 2s. 

 per barrel. The total export for 1882 is given as 782,290^ 

 barrels, and therefore the gross freights would realise at 

 the 2s. freight, 78,229 is. A significant fact, showing the 

 great importance attached to the herring trade by those 

 interested in shipping, is to be found in the marvellous 

 rapidly increasing building of superior steamers especially 

 adapted for the carrying of herrings. Vessels of about 

 IOO tons register are those principally engaged in the 

 trade, and are most suitable. 



The banks receive from the fishermen money on 

 deposit at a moderate rate of interest (under 2-f- per cent, 

 for the past few years), and through the great amount of 

 business arising from the trade, and their getting the bank 

 notes put into circulation, thereby receive a great assist- 

 ance, and derive a considerable profit. I calculate the 

 deposits by the Scotch fishermen to exceed 500,000. As 

 shown in a calculation made later on in this essay, the cir- 

 culation of notes would be over 1,000,000 yearly. The 

 fish-curers, although turning over a large amount yearly, 

 and thereby being instrumental in the banks' circulation, 

 yet are more generally debtors than creditors of the banks. 

 Their capital is soon absorbed in bounties and stock, and 

 in too many instances they are pretty deep on the wrong 

 side with the bank, but generally such is balanced by 

 heritable or personal security. When the boats are paid 

 off, heavy temporary overdrafts are required. The 

 fish-curer's reputation and character is sufficient to procure 



