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bounty,amount paid by a government for the achievement of certain economic or other goals. It often takes the form of a premium paid for the increased production or export of certain goods. The bounty was an important technique of mercantilist economic policy (see mercantilismmercantilism
, economic system of the major trading nations during the 16th, 17th, and 18th cent., based on the premise that national wealth and power were best served by increasing exports and collecting precious metals in return.
..... Click the link for more information. ). Whereas a subsidysubsidy,
financial assistance granted by a government or philanthropic foundation to a person or association for the purpose of promoting an enterprise considered beneficial to the public welfare.
..... Click the link for more information. is a lump sum given for the purpose of promoting an enterprise considered beneficial to the public welfare, a bounty is given as a gratuity per unit of production. Bounties are usually in the form of direct cash payments. However, bounties can be in a concealed form such as exports relieved from payment of a tax or excise duty, special railway rates, rebates on taxes and import duties, credit facilities, and export credits guaranteed by the government. Effects of an export bounty can be destroyed by a countervailing duty imposed by an importing country. The compensatory export bounty is aimed at compensating producers for duties paid on imported raw materials used in making the particular commodity. Bounties also have been granted by states for the construction of roads, canals, railroads, and other public works, and they have been used by nations as an inducement to army enlistment. State governments in the United States have given bounties for the killing of animals regarded as destructive to livestock.
Bounty,British naval vessel, a 220-ton (200-metric-ton), 85-ft (26-m) cutter, commanded by William BlighBligh, William
, 1754–1817, British admiral. He is chiefly remembered for the mutiny (1789) on his ship, the Bounty, but he had a long and notable career. He was sailing master on Capt. James Cook's last voyage (1776–79).
..... Click the link for more information. . She set sail for the Pacific in Dec., 1787, to transport breadfruit trees from the Society Islands to the West Indies. On Apr. 28, 1789, the ship's mate, Fletcher Christian, led a successful mutiny against Bligh. The captain and 18 of his crew were set adrift in the Bounty's 23-ft (7-m) open launch. By remarkable seamanship they went 3,618 mi (5,822 km) in 48 days, reached Timor in June, and proceeded to England. Some of the mutineers were later captured and court-martialed in England; three were executed. Other mutineers under Christian, along with Tahitian women, landed at Pitcairn IslandPitcairn Island,
volcanic island (2005 est. pop. 45), 2.5 sq mi (6.5 sq km), South Pacific, SE of Tuamotu Archipelago. Adamstown is the capital and only settlement. The first British Pacific Islands possession (1838), the island is officially administered by a governor (the
..... Click the link for more information. , burned the Bounty, and founded a colony where all but one were subsequently murdered by their servants. The mutineers' descendants continue to live on the island, where the Bounty's remains were found in 1957.
See A. McKee, H.M.S. Bounty (1961); J. Barrow, The Mutiny of the Bounty (1989); S. McKinney, A True Account of Mutiny Aboard His Majesty's Ship Bounty (1989); C. Alexander, The Bounty (2003).
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