Home1842 Edition

FUND

Volume 10 · 123 words · 1842 Edition

in general, signifies any sum of money appropriated for a particular purpose. Thus, that part of the national revenue which is set apart for the payment of the national debt is called the sinking fund. But, when we speak of the funds, we generally mean the large sums which have been lent to government, and constitute the national debt; and for which the lenders, or their assignees, receive interest from revenues allotted for that purpose. The term stock is used in the same sense; and is also applied to the sums which form the capital of the Bank of England, the East India and South Sea Companies; the proprietors of which are entitled to a share of the profits of the respective companies.