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From: Webster's Revised Unabridged Dictionary (1913)

 Wage v. t. [imp. & p. p. Waged p. pr. & vb. n. Waging ]
 1. To pledge; to hazard on the event of a contest; to stake; to bet, to lay; to wager; as, to wage a dollar.
 My life I never but as a pawn
 To wage against thy enemies.   --Shak.
 2. To expose one's self to, as a risk; to incur, as a danger; to venture; to hazard.  “Too weak to wage an instant trial with the king.”
    To wake and wage a danger profitless.   --Shak.
 3. To engage in, as a contest, as if by previous gage or pledge; to carry on, as a war.
  [He pondered] which of all his sons was fit
 To reign and wage immortal war with wit.   --Dryden.
    The two are waging war, and the one triumphs by the destruction of the other.   --I. Taylor.
 4. To adventure, or lay out, for hire or reward; to hire out.  [Obs.]  “Thou . . . must wage thy works for wealth.”
 5. To put upon wages; to hire; to employ; to pay wages to.  [Obs.]
    Abundance of treasure which he had in store, wherewith he might wage soldiers.   --Holinshed.
    I would have them waged for their labor.   --Latimer.
 6. O. Eng. Law To give security for the performance of.
 To wage battle O. Eng. Law, to give gage, or security, for joining in the duellum, or combat.  See Wager of battel, under Wager, n. --Burrill.
 To wage one's law Law, to give security to make one's law.  See Wager of law, under Wager, n.