sinking fundn.
/ˈsɪŋkɪŋ fʌnd/, U.S. /ˈsɪŋkɪŋ ˌfənd/ A fund established by periodically setting aside revenue to accumulate at interest, typically for the gradual repayment of a debt or replacement of a wasting asset. Sinking funds were established by the British Government in 1716, 1786, and 1875 for reducing the National Debt. In Act 3 George I (1716) c. 7 it is termed ‘a General Yearly Fund’.
ΘΚΠ
society > trade and finance > money > funds or pecuniary resources > [noun] > set apart for a purpose > for other purposes
alms purse1530
privy purse1565
sinking fund1717
stakea1744
pension fund1757
spare-chest1769
road fund1784
revolving fund1793
community chest1796
provident fund1817
sustentation fund1837
wages-fund1848
slush fund1874
treasury chest fund1877
fall money1883
jackpot1884
provision1895
war chest1901
juice1935
fighting fund1940
structural fund1967
appeal fund1976
1717 Computations relating to Publick Debts 4 The sinking Fund after the proposed Reducement of Interest (Deficiencies being made good) is the Difference only between the Yearly Sums the Funds are given for, and the proposed reduced Interest.
1765 W. Blackstone Comm. Laws Eng. I. 329 The surplusses..are usually denominated the sinking fund, because originally destined to sink and lower the national debt.
1824 Ld. Byron Don Juan: Canto XVI xcix. 113 The Sinking Fund's unfathomable sea..leaves The debt unsunk, yet sinks all it receives.
1862 D. T. Ansted & R. G. Latham Channel Islands App. C. 583 No special sinking fund exists; but the revenue is so far in excess of the expenditure.
1906 Westm. Gaz. 30 Apr. 9/1 A restoration of Sinking Fund purchases.
2011 M. Irvine Nucl. Power: Very Short Introd. vi. 83 As a nationalized industry, no sinking fund was created to cover the decommissioning costs.
This entry has been updated (OED Third Edition, December 2019; most recently modified version published online March 2022).
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