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The various fluctuation spectra associated with the magnetic induction field and its spatial derivatives generated by a canonical model of oceanic internal waves are calculated. The calculations are based upon the well-known canonical distribution from statistical mechanics. While in a general ease it is necessary to consider the details of the strong nonlinear interactions between linear internal waves, it is shown that the spectra of the above-surface magnetic fields are independent of such details. The predictions of the canonical model are compared to those of the Garrett-Munk (GM) model. The two models are found to yield significantly different results. An experiment to test the two models is suggested.