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:
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“You are much surer that you are doing good when you pay money to those who work, as the recompense of their labour, than when you give money merely in charity.”
—Samuel Johnson (1709–1784)