The only reason you would need two cables is if you needed more ampacity than only one cable could provide. I checked the parts diagram for your engine and it looks like Mercury designed it with 2 cables (p/n 88807A31; requires 2 each; $7 each, 7" long). Your voltage problem could be these cables. Check voltage to ground on both sides of the paralleled cables while cranking. Should be the same voltage. If it isn't, then paralleled cables are bad. You need to find out where the voltage drop is occurring. Here are the possibilities: bad battery (check voltage of battery at terminals while cranking); bad solenoid (check voltage at input terminal and at output terminal to ground while cranking, should be the same voltage around 12 volts); bad connection on positive wire at the starter (you already said this was 5 volts); bad ground connection to starter at either end of the ground cable (check voltage to ground at starter ground cable, should be 0).