All Topics  
Prize money

 

   Email Print
   Bookmark   Link






 

Prize money



 
 
Generally, prize money or purse is a monetary
Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value....
 prize
Prize

A prize is an award given to a person or a group of people to recognise and reward actions or achievements. Official prizes often involve money as well as the fame that comes with them....
 awarded for winning or coming a place in a competition. Prize money also has a distinct meaning in naval warfare; it was a monetary reward paid out to the crew of a ship for capturing an enemy vessel.

he 16th and 17th centuries, captured ships were legally Crown property. In order to reward and encourage sailors' zeal at no cost to the Crown, it became customary to pass on all or part of a captured ship's value to the capturing captain for distribution to his crew.






Discussion
Ask a question about 'Prize money'
Start a new discussion about 'Prize money'
Answer questions from other users
Full Discussion Forum



Encyclopedia


Generally, prize money or purse is a monetary
Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value....
 prize
Prize

A prize is an award given to a person or a group of people to recognise and reward actions or achievements. Official prizes often involve money as well as the fame that comes with them....
 awarded for winning or coming a place in a competition. Prize money also has a distinct meaning in naval warfare; it was a monetary reward paid out to the crew of a ship for capturing an enemy vessel.

Royal Navy prize money


History

In the 16th and 17th centuries, captured ships were legally Crown property. In order to reward and encourage sailors' zeal at no cost to the Crown, it became customary to pass on all or part of a captured ship's value to the capturing captain for distribution to his crew. (Similarly, all belligerents of the period issued Letters of Marque and Reprisal to civilian privateers, authorizing them to make war on enemy shipping; as payment, the privateer sold off the captured booty.)

This practice was formalized via the Cruizers and Convoys Act of 1708. An Admiralty Prize Court was established to evaluate claims and condemn prizes, and the scheme of division of the money was specified. This system, with minor changes, lasted throughout the colonial, Revolutionary, and Napoleonic wars.

If the prize were an enemy merchantman, the prize money came from the sale of both ship and cargo. If it were a warship, and repairable, usually the Crown bought it at a fair price; additionally, the Crown added "head money" of 5 pounds per enemy sailor aboard the captured warship. Prizes were keenly sought, for the value of a captured ship was often such that a crew could make a year's pay for a few hours' fighting. Hence boarding and hand-to-hand fighting remained common long after naval cannons developed the ability to sink the enemy from afar.

All ships in sight of a capture shared in the prize money, as their presence was thought to encourage the enemy to surrender without fighting until sunk.

The distribution of prize money to the crews of the ships involved persisted until 1918. Then the Naval Prize Act changed the system to one where the prize money was paid into a common fund from which a payment was made to all naval personnel whether or not they were involved in the action. In 1945, this was further modified to allow for the distribution to be made to RAF
Royal Air Force

The Royal Air Force is the United Kingdom's air force, the oldest independent air force in the world. Formed on 1 April 1918, the RAF has taken a significant role in British military history ever since, playing a large part in World War II and in more recent conflicts....
 personnel who had been involved in the capture of enemy ships.

Distribution

The following scheme for distribution of prize money was used for much of the Napoleonic wars
Napoleonic Wars

The Napoleonic Wars were a series of conflicts involving Napoleon I of France First French Empire and changing sets of European allies and opposing coalitions that ran from 1803 to 1815....
, the heyday of prize warfare. Allocation was by eighths. Two eighths of the prize money went to the captain, generally propelling him upwards in political and financial circles. One eighth of the money went to the admiral who signed the ship's written orders (unless the orders came directly from the Admiralty
Admiralty

The Admiralty was formerly the authority in the United Kingdom responsible for the command of the Royal Navy. Originally exercised by a single person, the office of Lord High Admiral was from the 18th century onward almost invariably put "in commission", and was exercised by a Board of Admiralty....
 in London, in which case this eighth also went to the captain). One eighth was divided among the wardroom officers (the lieutenants, sailing master, surgeon, and captain of marines if any). One eighth was divided among the principal warrant officers, lieutenant of marines, chaplain and flag secretary if any. One eighth was divided among the junior warrant and petty officers, their mates, sergeants of marines, and midshipmen. The final two eighths were divided among the crew, with able and specialist seamen receiving larger shares than ordinary seamen, landsmen, and boys.

As 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.

Examples

Perhaps the greatest amount of prize money awarded was for the capture of the Spanish frigate
Frigate

A frigate is a warship. The term has been used for warships of many sizes and roles over the past few centuries.In the 18th century, the term referred to ships which were as long as a ship-of-the-line and were square rig on all three masts , but were faster and with lighter armament, used for patrolling and escort....
 Hermione on May 31 1762 by the British frigate Active and sloop Favourite. The two captains, Sawyer and Pownall, received about £65,000 apiece, while each seaman and Marine got £482-485.

In January 1807, the frigate Caroline took the Spanish San Rafael as a prize, netting Captain Peter Rainier
Peter Rainier

Peter Rainier, Jr. was a Great Britain naval officer.Rainier was born in England, the grandson of Daniel Regnier, a Huguenot refugee, and the son of Peter Rainier of Sandwich, Kent....
 £52,000.

The prize money from the capture of the Spanish frigates Thetis and Santa Brigada was split up among the crews of four British frigates, with each captain being awarded over £40,000.

The crewmen of USS Omaha
USS Omaha (CL-4)

USS Omaha was the lead ship of Omaha class cruiser of light cruiser of the United States Navy. She was the second U.S. Navy ship named for the city of Omaha, Nebraska....
 hold the distinction of being the last American sailors to receive prize money, for taking a German blockade runner
Blockade runner

A blockade runner is a term applied to ships used to evade a naval blockade of a harbor or strait, as opposed to confronting the blockaders to break the blockade....
 on November 6 1941, just before America's entry into World War II
World War II

World War II, or the Second World War , was a global military conflict which involved a Participants in World War II, including all of the great powers, organised into two opposing military alliances: the Allies of World War II and the Axis powers....
, though the money would not be awarded until 1947.

External links

  • , a discussion site on the Aubrey-Maturin novels with many historical links and resources.