A war chest is a metaphor for any collection of

tool A tool is an object that can extend an individual's ability to modify features of the surrounding environment or help them accomplish a particular task. Although many animals use simple tools, only human beings, whose use of stone tools dates ba ...

s or

money Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as ...

intended to be used in a challenging or dangerous situation. Historically, it referred to an actual

chest The thorax or chest is a part of the anatomy of humans, mammals, and other tetrapod animals located between the neck and the abdomen. In insects, crustaceans, and the extinct trilobites, the thorax is one of the three main divisions of the crea ...

located in the homes or barracks of

soldier A soldier is a person who is a member of an army. A soldier can be a conscripted or volunteer enlisted person, a non-commissioned officer, or an officer. Etymology The word ''soldier'' derives from the Middle English word , from Old French ...

s or military leadership, in which

arms Arms or ARMS may refer to: *Arm or arms, the upper limbs of the body Arm, Arms, or ARMS may also refer to: People * Ida A. T. Arms (1856–1931), American missionary-educator, temperance leader Coat of arms or weapons *Armaments or weapons **Fi ...

and

armor Armour (British English) or armor (American English; see spelling differences) is a covering used to protect an object, individual, or vehicle from physical injury or damage, especially direct contact weapons or projectiles during combat, or f ...

were stored. Traveling armies, such as that of Hannibal, collected the spoils of war and used them to negotiate with others to resolve conflicts through economic exchange rather than violence. In the modern era, the term refers to amassed

funds Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses ...

, expertise, and/or equipment which allows a person or organization to survive a challenging situation.

Etymology

In arms and armor, a war chest is a

container A container is any receptacle or enclosure for holding a product used in storage, packaging, and transportation, including shipping. Things kept inside of a container are protected on several sides by being inside of its structure. The term ...

for the

personal weapon A service pistol, also known as a personal weapon or an ordnance weapon, is any handgun issued to regular military personnel or law enforcement officers. Typically, service pistols are revolvers or semi-automatic pistols issued to officers, non- ...

s and

protective gear Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, ele ...

of a citizen-soldier, kept in the household, and is the origin of the term. The term's modern meaning originates with the

medieval In the history of Europe, the Middle Ages or medieval period lasted approximately from the late 5th to the late 15th centuries, similar to the post-classical period of global history. It began with the fall of the Western Roman Empire ...

practice of having a

, literally, filled with money to open in time of

war War is an intense armed conflict between states, governments, societies, or paramilitary groups such as mercenaries, insurgents, and militias. It is generally characterized by extreme violence, destruction, and mortality, using regular o ...

In politics

politics Politics (from , ) is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of resources or status. The branch of social science that stud ...

, a war chest is funding obtained from donors well in advance of a campaign, usually accumulated by an incumbent for either re-election or to contest a more advanced office, or provided by a wealthy candidate to their own campaign. The possession of such excess funds may discourage otherwise viable candidates from a primary or general election challenge.

In business

In business a war chest, or cash mountain is a stash of money set aside to deal with unexpected changes in the business environment, or to use when expansion possibilities arise.ICI eyes buy-ups with £1bn war chest
''

Independent Independent or Independents may refer to: Arts, entertainment, and media Artist groups * Independents (artist group), a group of modernist painters based in the New Hope, Pennsylvania, area of the United States during the early 1930s * Independ ...

'', 9 February 2007, accessed 19 September 2009 Today companies can use accumulated cash or rely on quickly raised

debt Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The ...

which costs less to carry when you don't need it. This is not always a reasonable substitute, as the credit available to a company typically drops as a result of the same actions that require the war chest to be opened. Companies can redistribute their war chests to shareholders by issuing larger or special

dividend A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-i ...

s, or more commonly through share buyback operations. Companies do this because if actually held in cash, the companies will be earning a low rate of return in the

money market The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less. As short-term securities became a commodity, the money market became a compon ...

s, whereas they could be using the funds to invest in more profitable projects. If they continue not to invest the funds, shareholders may sell the company's shares and make it vulnerable to a takeover. This would place the current management's jobs at risk.

In professional sports

association football Association football, more commonly known as football or soccer, is a team sport played between two teams of 11 players who primarily use their feet to propel the ball around a rectangular field called a pitch. The objective of the game is ...

it refers to the amount of money a manager has been given by a club's chairman, owner or investors to acquire new players.

Related terms

Similar terms are also referred to as surplus cash, cash reserves, emergency reserves, acquisition funds,

rainy day fund A rainy day or rainy day fund is a reserved amount of money to be used in times when regular income is disrupted or decreased in order for typical operations to continue. In the United States, the term is usually used to apply to the funds mainta ...

s, or undistributed earnings within different contexts.

References

English-language idioms Political terminology of the United States Metaphors referring to war and violence {{econ-term-stub