  We compare the luminosity function and rate inferred from the BATSE short
hard bursts (SHBs) peak flux distribution with the redshift and luminosity
distributions of SHBs observed by Swift/HETE II. The Swift/HETE II SHB sample
is incompatible with SHB population that follows the star formation rate.
However, it is compatible with a distribution of delay times after the SFR.
This would be the case if SHBs are associated with binary neutron star mergers.
The implied SHB rates that we find range from \sim 8 to \sim
30h_{70}^3Gpc^{-3}yr^{-1}. This rate is a much higher than what was previously
estimated and, when beaming is taken into account, it is comparable to the rate
of neutron star mergers estimated from statistics of binary pulsars. If GRBs
are produced in mergers the implied rate practically guarantees detection by
LIGO II and possibly even by LIGO I, if we are lucky. Our analysis, which is
based on observed short hard burst is limited to bursts with luminosities above
10^{49}erg/sec. Weaker bursts may exist but if so they are hardly detected by
BATSE or Swift and hence their rate is very weakly constrained by current
observations. Thus the rate of mergers that lead to a detection of a
gravitational radiation signal might be even higher.
