Impounment is the refusal of presidents of the United States to spend money that has been appropriated by the United States Congress. All of the presidents up to Richard Nixon have used this power, which is regarded as inherent to the office. President Thomas Jefferson first used the power of impoundment in 1801. He refused to spend appropriated funds when he impounded $50,000 for United States Navy gunboats. He said in 1803 that "[t]he sum of fifty thousand dollars appropriated by Congress for providing gun boats remains unexpended. The favorable and peaceable turn of affairs on the Mississippi rendered an immediate execution of that law unnecessary." In keeping with his efforts to reduce the size of the debt, he left the funds for the ships unspent for over a year.