It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
There are contemporary records that many pirates placed a portion of any captured money into a central fund that was used to compensate the injuries sustained by the crew. Lists show standardised payments of 600 pieces of eight ($156,000 in modern currency) for the loss of a leg down to 100 pieces ($26,800) for loss of an eye. Often all of these terms were agreed upon and written down by the pirates, but these articles could also be used as incriminating proof that they were outlaws.
Piracy should be distinguished from privateering, which was a legitimate form of war-like activity by non-state actors, authorized by their national authorities, until this form of commerce raiding was outlawed in the 19th century.