UNFUNDED • DICTIONARY ONE.COM • Definition of Unfunded

... made out of Chancellors ignorant of the principles of equity, and First Lords of the Admiralty ignorant of the principles of navigation, of Colonial ministers who could not repeat the names of the Colonies, of Lords of the Treasury who did not know the difference between funded and unfunded debt, and of Secretaries of the India Board who did not know whether the Mahrattas were Mahometans or Hindoos. On these grounds, some persons, incapable of seeing more than one side of a question, have pronounced parliamentary ...

— The Miscellaneous Writings and Speeches of Lord Macaulay, Vol. 3. (of 4) • Thomas Babington Macaulay

... next. It has therefore been included in the estimated expenditures of this year, and forms a part of the sum above stated to have been paid on account of the public debt. The payment of this stock will reduce the whole debt of the United States, funded and unfunded, to the sum of $4,760,082.08, and as provision has already been made for the 4-1/2 percents above mentioned, and charged in the expenses of the present year, the sum last stated is all that now remains of the national debt; and the revenue of the coming ...

— A Compilation of the Messages and Papers of the Presidents - Section 1 (of 2) of Volume 3: Andrew Jackson (Second Term) • James D. Richardson