| 释义 |
sinking fund
[See sink v. 27 and fund n. 4 a.]
A fund formed by periodically setting aside revenue to accumulate at interest, usually for the purpose of reducing the principal of a national, municipal, or company's debt.
Sinking funds were established by the British Government in 1716, 1786, and 1875 for reducing the National Debt. In the Act 3 George I (1716) c. 7 it is termed ‘a General Yearly Fund’.
1724Lond. Gaz. No. 6232/1 It must be a..great Satisfaction..to see the sinking Fund improved. 1765Blackstone Comm. I. 329 The surplusses..are usually denominated the sinking fund, because originally destined to sink and lower the national debt. 1824Byron Juan xvi. xcix, The Sinking Fund's unfathomable sea..leaves The debt unsunk, yet sinks all it receives. 1862Ansted Channel Isl. iv. 573 No special sinking fund exists; but the general revenue is in excess of the expenditure.
attrib.1846Daily News 21 Jan. 5/5 A loan of 18,840,000 florins is to be raised by the sinking-fund commission. 1906Westm. Gaz. 30 Apr. 9/1 A restoration of Sinking Fund purchases. |