The philosophy and actual basis for fish management in Europe, the British Isles, Canada, and the United States are compared. The problems of multiple ownership of a fishery are discussed. It is concluded that the full possibilities for fish production can only be realized through administration by a central organization representing all of the owners of a watershed. The need is stressed for united group ownership to insure proper consideration of the fisheries along with agricultural and industrial demands. Examples are cited from various countries to illustrate the need for such administration.