[The Cruisers & Convoys Act 1708, which concerned naval prize money, and which was still in force during the Napoleonic Wars] laid down the proportions into which the value of the prize was to be divided. There were certain Droits of the Crown, but these were kept in reserve; in general, the full value of the prize, ship and cargo, went to the captors, as follows: the captain had three-eighths, of which he gave one to the flag officer under whom he served; the other officers, down to sergeant of Marines, had three-eighths, in three categories which ensured that the more senior had the bigger share; and the remaining two-eighths went to the rest of the crew, again shared according to seniority. Nor was this all: in the case of warships captured or destroyed, Admiralty paid head-money at the rate of £5 per head of the enemy crew at the commencement of the engagement. This was to encourage doubtful captains to engage warships rather than seek the easier and more lucrative merchant prizes; moreover, a successful engagement with a warship meant probable promotion, which never rewarded captors of merchantmen [...]
[As a result of the October 1796 action in which the frigate HMS Naiad captured the treasure-laden Spanish frigates Santa Brigida and Thetis late of Vera Cruz, the prize money granted was lavish]. Besides a cargo of valuable commodities such as cochineal and indigo, the two ships had between them about a thousand boxes each containing 5000 silver dollars, besides odd bags and kegs and some gold. There can have been few literate persons in the squadron who were not doing pleasing little sums during the short voyage to Plymouth, where they arrived on the 21st November. The treasure was conveyed in sixty-three wagons to the citadel of Plymouth, and thence to London. The prize-money was divided thus:
Each Captain: £40,730
Each Lieutenant: £5091
Warrant-Officers: £2468
Midshipmen, etc.: £791
Each Seaman & Marine: £182
One has to consider that the rate of pay per annum did not exceed £150 for a frigate captain, £75 for a lieutenant, and £12 for an ordinary seaman. A captain would have to serve for 250 years to earn the money he picked up in a couple of easy days; and even the humblest seaman could set himself up in a cosy pub. It was very wise of the Admiralty to allot these astounding prizes; it was like the football pools and the lotteries: I know that the chance is remote, but all the same, people have in fact won such prizes, and why should the next one not be me? Honour and glory are excellent things, but so are silver and gold; and if all are to be had in the same engagement, let us go heartily about it!
- James Henderson, The Frigates, London, 1970, p.119-121
See also:
History: In fear of the Tsar's navy, 5 November 2011
History: Chatham Historic Dockyards, 5 August 2010
History: Nauticalia in Portsmouth, 12 April 2007
