"sinking fund," accumulated through regular deposits and used to pay the interest and principal on the national debt. Bibb advocated using Treasury surplus revenue from customs and internal revenue collection to supply the sinking fund. Such a fund had been used effectively to reduce the deficit from 1789 to 1835, but Bibb was unable to revive it. After this he was a lawyer in Washington, D.C., and an assistant in the U.S. Attorney General's office. He was an active Freemason. He was the first master of Russellville Lodge No. 17, Russellville, Kentucky and was master of Hiram Lodge No. 4, in Frankfort. He was also past master of Lexington Lodge No. 1 at Lexington, and served as secretary in 1804. In 1804 he was grand master of Kentucky. He died in Georgetown, D.C., in 1859, and is buried in Frankfort Cemetery with a cenotaph at the Congressional Cemetery. External links References 1776 births 1859 deaths 19th-century American politicians 19th-century American judges People from Prince Edward County, Virginia American people of Welsh descent United States Secretaries of the Treasury Tyler administration cabinet members Democratic-Republican Party United States senators from Kentucky Democratic Party United States senators from Kentucky Jacksonian United States senators from Kentucky Kentucky Democratic-Republicans Kentucky Jacksonians Judges of the Kentucky Court of Appeals College of William & Mary alumni Hampden–Sydney College alumni Burials at Frankfort Cemetery