Dr. Mac Culloch on the Herring. 223 



also as much dictated by a spirit of jealousy, as the desire of 

 gain. 



Pursuing the same system, the bounties were established in 

 1748, and as the quantity or rate of these fluctuated, the herring 

 fishery rose and again declined. It was at a low ebb during the 

 American war, as well as during the last. Nor could any reason- 

 able bounty have enticed capital into it under those states of com- 

 merce; though our politicians did not even then appear to have 

 reflected that there was no capital to spare for such an employ- 

 ment, that there were abundant and much more enticing de- 

 mands on it from other quarters, and that the trade itself had the 

 further demerit of being new, precarious, and disagreeable. This 

 was the true cause of the declension of the herring fishery; and 

 were the same causes to be renewed, it would decline again. If it is 

 now flourishing, it is chiefly from the superabundance of capital, and 

 from the want of better outlets to our industry. England will have 

 cause to lament the day which shall render her the great herring 

 fisher; the rival of the ancient Dutch, and the envy of politicians 

 of the same caliber as Aaron Hill and Oliver Goldsmith. 



The raising of the barrel bounty to four shillings in 1815, and the 

 admission of rock salt in 1817, were the last regulations, and 

 those under which this trade is now flourishing. These are all, at 

 least that I shall notice, as I cannot here afford to trace the whole 

 history of the fishing regulations, since they would in themselves 

 make a volume. The chief of the others, however, which do re- 

 quire notice, was the Act for the minimum of the meshes, (a very 

 questionable policy as it regards the domestic fishery,) and the 

 method of gutting and bleeding the fish, as practised by the Dutch. 

 Under this process, where carefully followed, the Scottish herrings 

 are now found to be equal to the Dutch, and to compete with them 

 in the foreign market. The bounty regulation is a very doubtful 

 benefit. It is costly without being necessary ; and amongst the 

 fishermen in general, the restrictions and trouble which attend the 

 various regulations, are so great as to make it a very common wish 

 that it should be rescinded, and the whole trade left free. It is 

 argued, on the other hand, that, without force, the fishermen and 



