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The Collaborative International Dictionary of English v.0.48:

Liberality \Lib`er*al"i*ty\ (-[a^]l"[i^]*t[y^]), n.; pl. Liberalities (-t[i^]z). [L. liberalitas: cf. F. lib['e]ralit['e].] 1. The quality or state of being liberal; liberal disposition or practice; freedom from narrowness or prejudice; generosity; candor; charity. [1913 Webster] That liberality is but cast away Which makes us borrow what we can not pay. --Denham. [1913 Webster] 2. A gift; a gratuity; -- sometimes in the plural; as, a prudent man is not impoverished by his liberalities. [1913 Webster]