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nydus/The Wealth of NationsPublic

Adam Smith lays the foundation of classical economics.

Page 595 of 960
Table of Contents

V

me to believe, that in granting at least one of these bounties, the legislature has been very grossly imposed upon.

First, the herring buss bounty seems too large.

From the commencement of the winter fishing 1771 to the end of the winter fishing 1781, the tonnage bounty upon the herring buss fishery has been at thirty shillings the ton. During these eleven years the whole number of barrels caught by the herring buss fishery of Scotland amounted to 378,347. The herrings caught and cured at sea, are called sea sticks. In order to render them what are called merchantable herrings, it is necessary to repack them with an additional quantity of salt; and in this case, it is reckoned, that three barrels of sea sticks, are usually repacked into two barrels of merchantable herrings. The number of barrels of merchantable herrings, therefore, caught during these eleven years, will amount only, according to this account, to 252,231⅓. During these eleven years the tonnage bounties paid amounted to £155,463 11 s. or to 8 s. 2¼ d. upon every barrel of sea sticks, and to 12 s. 3¾ d. upon every barrel of merchantable herrings.

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