Prize money has a distinct meaning in warfare, especially naval warfare, where it was a monetary reward paid out to the crew of a ship for capturing or sinking an enemy vessel. The claims for the bounty are usually heard in a Prize Court. This article covers the arrangements of the British Royal Navy, but similar arrangements were used in the navies of other nations, and existed in the British Army and other armies, especially when a city had been taken by storm.
Famous quotes containing the words prize and/or money:
“The true runner comes to the finish and receives the prize and is crowned.”
—Plato (c. 427–347 B.C.)
“Under the rules of a society that cannot distinguish between profit and profiteering, between money defined as necessity and money defined as luxury, murder is occasionally obligatory and always permissible.”
—Lewis H. Lapham (b. 1935)