Sing a song of sixpence, - he actually paid wages rather than operating on a loot divvy basis,
a pocket full of rye, - old school pockets were bags, and this one was a drinking bag full of whisky, a pocket of whiskey a day, excellent. It goes on from there.
I've always loved this song, and now it is so much more awesome. Pirates!
[edit: But then you shouldn't trust anything you read on the internet.]