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:
“Then, though I prize my friends, I cannot afford to talk with them and study their visions, lest I lose my own. It would indeed give me a certain household joy to quit this lofty seeking, this spiritual astronomy, or search of stars, and come down to warm sympathies with you; but then I know well I shall mourn always the vanishing of my mighty gods.”
—Ralph Waldo Emerson (1803–1882)
“No one would remember the Good Samaritan if he’d only had good intentions—he had money as well.”
—Margaret Thatcher (b. 1925)