Prize money

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Prize money was the payment made by the Admiralty to the officers and crew involved in the capture of a prize ship. It was based on the value of the captured ship and its cargo which was either sold or bought by the navy for use as a warship.

The purpose of prize money was to reward the ship's company for the capture of enemy ships. All ships in sight of the capture were included in the distribution and the Admiral commanding the squadron received a significant share.

The total sum of prize money was distributed in eighths according to a formula which was changed in 1808 during the preiod of the Canon.

Prior to 1808

After 1808, the admiral received one third of the captain's share, the captain received two eighthsAs complex as this scheme was, it was replaced by one of even greater complexity in the "reforms" of 1808. In this process, the admiral (if there was one) received one third of the captain's share, the captain received two eighths, the wardroom officers one eighth, the principal warrant officers etc. received one eighth and the remaining half was distributed among the rest of the crew, based on their ranks, not evenly.

Head money

Head money was similar to prize money and was added to the amount distributed. It consisted of £5 per head of the enemy crew aboard a captured warship.

In the Canon

Jack Aubrey is often known as 'Lucky Jack" because of his early success in garnering prize money as commander of the Sophie.

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