The Caithness herring-fishing next follows, commencing about 18th July, and lasting till 6th or 10th September. Hitherto the whole course of the dealings between the fishermen and fish-curers noticed in this statement has been unexceptionable, being simply the delivery of fish by the former at agreed on rates of price, paid by the latter, the curers, in cash at short periods. In the great Caithness herring-fishing a change of system occurs, which appears to be mainly owing to the heavy cost of the boats and material employed, and the heavy sums disbursed by each boat for labour and maintenance in each season. A new fishing-boat of the best class costs from £120 to £140, including sails and rigging complete. A drift of 35 nets (and the drift often consists of a greater number), at 10s. per net, is value for £120. A boat well kept is reckoned to stand fourteen years. The drift of nets is said to require renewal every eight years. The ordinary case is, that one fisherman is either really or nominally owner of the boat and drift with which he engages in this fishing. At least a fisherman actually undertakes the whole enterprise of the season's fishing with the boat of which he has possession with all the liabilities attending it. This is, however, subject to variation, as sometimes two men, and sometimes but less frequently three men, are the real or nominal owners of a boat and take the risks of it . Assuming that a man starts with a new boat and drift free of debt, not only must he have a capital of about £250 invested in these, but he must be prepared to undertake further the following charges of the season:-- 1 Wages of four hired men (generally strangers from the Highlands or Islands) and a boy, ...... £ 30 0 0 2. Their lodgings, ..... 3 0 0 3. Their allowance of meal, .... 4 0 0 4. Cost of barking nets, .... 3 0 0 5. Cartage and drying-green for nets,. . 3 0 0 6. Harbour dues, ..... 1 0 0 44 0 0 But taking into account that accidentally many nets are lost or destroyed in each year, and that the fishing is prosecuted in boats, and with nets more or less worn, and that thus there is need of considerable annual repair and replacement, it will be seen that in the ordinary case the expense of a fishing season is largely greater than in the case of an adventure, with a new boat and drift. Thus the expense, as above, ..... £ 44 0 0 Replacing 4 nets, ..... 14 0 0 Repairing drift, ..... 2 0 0 Repairing and tarring boat, barking ropes, sails, etc. , ...... 2 0 0 To which falls to be added, to meet the annual deterioration of the boat 10 0 0 £72 0 0 It follows that the fisherman can have no advantage from the Caithness herring-fishing unless his boat clears a sum of £ 72, or thereabout, in which case the surplus over that amount will constitute his profit.