Re: mercury 1976 115 hp or 1961 evinrude 75 hp
The Merc obviously has the greater power and is newest. However, with those motors it is about the condition of the motor. I would look them over, and figure out which one can be made to run best, cheapest.
Check the gearcases, compression and electrical components. The best condition wins. The rest of the stuff is about the same cost to fix, so it is a don't care.