Aboard the Queen Anne's Revenge, Angelica takes Jack to a secret part of the ship. Angelica: "He Keeps each ship as a prize. You help me, and I promise you your pick, though I think I know the one you will choose." Jack: "The Black Pearl in a Bottle? Why is the Black Pearl in a bottle? He (the monkey) is even more annoying in miniature."
Jack's question is answered a few scenes later, as he's camping out with Barbossa, captured by the Spaniards and tied a a palm tree. But being tied to a tree isn't too bad when you've got rum! Jack: "Oh, you've got a knife! That's very good." Barbossa unscrews his fake leg, and says: "Better." He then takes a nice long sip of rum. Rum beats knife any day. What could be better than rum? Jack: "I want one of those." Barbossa hands him some. Barbossa: "You weren't there that night." Jack: "When the Pearl was lost?" Barbossa:
"Taken, not lost. We were off the coast of Hispaniola when we came under attack. No provocation or warning or parley. We were peppered with cannon fire. And then the sea beneath the Pearl began to roil. The Pearl was pitching a yawing violently. Every plank every rail, every spar at once began to creak. The rigging had come to life. Our own ship turned against us, tangling the crew, wrapping around them like snakes. And wrapping around me leg, but me arms were free and my sword was to hand. I am the master of me ship, not Blackbeard. I am the master of my fate, not Blackbeard. So I did what I needed done. I survived." Cutting off your own leg is a little morbid, but at least it gives you a handy place to store your rum!