Salient features of the development of the industry from about 1815 to 1968, changes in fishing gears and methods, changes in the kinds and abundance of fishes caught, and the attendant effects of disappearing species on the stability of the fishery are described. The history and present status of the walleye, yellow perch, and eight other fishes, still taken in commercial quantities, are presented in more detail and are considered in the context of their effect on the current moribund state of the U.S. fishery. Past and present contributions of Lake Erie's tributaries and northerly connecting waters to the fishery are outlined briefly. The "outlook" for the fishery under present conditions of selective overfishing for high-value species, excessive pollution, ineffective and uncoordinated regulation, and antiquated methods of handling, processing, and marketing fish are discussed, and possible solutions to these problems are suggested.