A wastebasket is sometimes referred to as the circular file.
circular file definition by Webster's New World
Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.
Informal a wastebasket
circular file definition by American Heritage Dictionary
noun SlangThe American Heritage® Dictionary of the English Language, 4th edition Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
circular file - Business Definition