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The Collaborative International Dictionary of English v.0.48:

Alloy \Al*loy"\, v. t. [imp. & p. p. Alloyed; p. pr. & vb. n. Alloying.] [F. aloyer, OF. alier, allier, later allayer, fr. L. aligare. See Alloy, n., Ally, v. t., and cf. Allay.] 1. To reduce the purity of by mixing with a less valuable substance; as, to alloy gold with silver or copper, or silver with copper. [1913 Webster] 2. To mix, as metals, so as to form a compound. [1913 Webster] 3. To abate, impair, or debase by mixture; to allay; as, to alloy pleasure with misfortunes. [1913 Webster]