No purchase, no pay
"No purchase, no pay" (or "no prey, no pay") was a phrase used by
Meaning
The term "purchase" in the phrase is used to mean success against piratical targets from whom booty might be successfully extracted.[2] The premise of the phrase was that if the expedition did not succeed in extracting booty from the target, those participating in the expedition would receive no reward.[3]
In the case of an unsuccessful raid, participants might receive nothing at all. But if a raid was successful, then loot was often shared equitably and democratically with clear ratios based on seniority and length of service.[4]
Use
The phrase was used extensively to describe arrangements for pirates working on the Spanish Main in particular. The concept is said to have encouraged increased risk-taking as pirates made a calculated decision to attack more valuable targets with a better risk-reward ratio.[5]
See also
- Buccaneer
- Letter of marque
- No win, no fee
- Pirate code
References
- Potomac Books, 2005)
- ABC-CLIO, 2012)
- ^ ABC-CLIO, 2010)
- Houghton Mifflin, 1969)
- Courier Dover Publications, 2001)