# Merchantable Herrings ## Definition Herrings that have been properly processed, repacked, and prepared for commercial sale, typically requiring additional salting and packaging beyond the initial sea-curing process. ## Source Chapter Book IV, Chapter 5 ## Context Smith contrasts merchantable herrings with sea-sticks to demonstrate how bounties can create artificial price structures in the fishing industry, making government-subsidized products appear more expensive than they naturally would be. ## Economic Domain Production ---