A Weird Nautical Etymology

I remember a while back hearing an etymology mentioned on some radio show regarding payment to shippers for damages to cargo based on where it had been placed on board the ship during tranisit. Those who had paid more for protection of their goods would have received preferential placement deep in the hold while others paying less would have gotten riskier spots, perhaps even lashed on deck. The word in question was a common word, indeed so common that I immediately smelled a folk etymology lurking in the verbal shadows. So I went home and grabbed my trusty American Heritage Dictionary (First Edition, prescriptive with the good etymologies!) and looked it up. Well, sure as shootin’ they were right! I could hardly believe it.

Now yesterday I was fooling around on the webs before work looking at the source of freezing the balls off a brass monkey, since I like things verbal and nautical, and was getting a kick out of an argument over this term when the recollection of that original word popped into my head. Darn it! I can’t remember it! It’s common as insurance or liability or guarantee. It’s that pedestrian.

Please help. I think this one is really going to get me.

MM

Ship High in Transit is a folk etymology.

Various brass monkey colloquialisms have nothing to do with a nautical origin either.

Thanks, Iggy, but this etymology was an honest to goodness genuine one. That’s what was so surprising about it. And the whole brass monkey thing was just what jogged my memory yesterday…

Average?

Yes, yes, yes. yes!! I just back from work where I spent a fretful eight and a half hours thinking no one would ever come up with this one because the clue was some how off base.

Oh, thank you, Johnny, thank you; I’ll sleep tonight.

OED has a more detailed etymology. Note that the derivation is uncertain.

Even better, aldiboronti; thanks.

MM