Tag Archives: Contingency fund
I now lay before Congress the annual account of the fund established for defraying the Contingent [random, unforseeable] charges of government. No occasion having arisen for making use of any part of it in the present year, the balance of eighteen thousand five hundred and sixty dollars, unexpended at the end of the last year, remains now in the Treasury.
To the Senate and House of Representatives of the US. of America, December 31, 1803
Patrick Lee’s Explanation
Self-limiting leaders exercise restraint with money not their own.
In May 1802, Congress approved $20,000 for “defraying the contingent expenses of government.” By the end of that year, the President reported a single expenditure of $1,440, to return to the United States 72 American seamen stranded abroad. The balance in that fund stood at $18,560.
A year later, the President reported again to Congress on the status of that fund. He had “no occasion” in 1803 to use any part of it. The full balance of $18,560 remained in the nation’s treasury.