Sentence:  [A]ll hands, including the captain, received certain shares of the profits called lays ... And though the 275th lay was what they call a rather long lay, yet it was better than nothing; and if we had a lucky voyage, might pretty nearly pay for the clothing I would wear out on it, not to speak of my three years' beef and board, for which I would not have to pay one <WSD>stiver</WSD>. 
Meaning of the word marked with <WSD> tags:  Anything of small value.