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This is the #3 copy. The book has had a long useful life, with just some spilled ink on the outer pages. Now it is safe in the collection, a gift to the collection from JM, long time friend of the editor. JM bought it in a random yard sale this summer in Albany.
Gifts take many forms, and have many uses but for the most part are given in gratitude, or affection, or guilt.
Chapter LXXII - the Monkey Rope
When Stubb reappeared, he came with a dark flask in one hand, and a sort of tea-caddy in the other. The first contained strong spirits, and was handed to Queequeg; the second was Aunt Charity's gift, and that was freely given to the waves.
Aunt Charity's gift to the Pequod was given freely to the crew and freely it was given to the seas. Some gifts have no real value and serve no real purpose, only to be regifted at a later date or thrown out.
JM's gift, regardless of the reason, will be preserved and cherished.