The principal home of the cod is the Grand Newfoundland Bank, an immense submarine island 600 miles in length and 200 in breadth, which in earlier history probably formed part of North America. Year by year the demand for codfish grows greater, and the supply--unaffected by centuries of exaction--continues to satisfy the demand. This happy result is produced by the marvellous fertility of the cod, for naturalists tell us that the roe of a single female--accounting, perhaps, for half the whole weight of the fish--commonly contains as many as five millions of ova. In the year 1912-13 the value of the exported dried codfish alone was 7,987,389 dollars, and in 1917 the total output of the bank and shore cod fishery was valued at 13,680,000 dollars; and at a time when it was incomparably less, Pitt had thundered in his best style that he would not surrender the Newfoundland fisheries though the enemy were masters of the Tower of London. So the great Bacon, at a time when the wealth of the Incas was being revealed to the dazzled eyes of the Old World, declared, with an admirable sense of proportion, that the fishing banks of Newfoundland were richer far than the mines of Mexico and Peru. Along the coasts of Norfolk and Suffolk the codfish is commonly caught with hook and line, and the same primitive method is still largely used by colonial fishermen. More elaborate contrivances are growing in favour, and will inevitably swell each year's returns. Nor is there cause to apprehend exhaustion in the supply. The ravages of man are as nothing to the ravages and exactions of marine nature, and both count for little in the immense populousness of the ocean. Fishing on a large scale is most effectively carried on by the Baltow system or one of its modifications. Each vessel carries thousands of fathoms of rope, baited and trailed at measured intervals. Thousands of hooks thus distributed over many miles, and the whole suitably moored. After a night's interval the catch is examined. In 1890 a Fisheries Commission was established for the purpose of conducting the fisheries more efficiently than had been the case before. Modern methods were introduced, and the artificial propagation of cod and also of lobsters was begun. In 1898 a Department of Marine and Fisheries was set up, and with the minister in charge of it an advisory Fisheries Board was associated. Though the cod-fishery is the largest and the most important of the Newfoundland fisheries, the seal, lobster, herring, whale and salmon fisheries are also considerable, and yield high returns. As to all these fisheries, the right to make regulations has been placed more effectively in the hands of Great Britain by the Hague arbitration award, which was published in September 1910, and which satisfied British claims to a very large extent.