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.
1. The quality or state of being liberal; liberal disposition
or practice; freedom from narrowness or prejudice;
generosity; candor; charity.
That liberality is but cast away
Which makes us borrow what we can not pay. --Denham.
2. A gift; a gratuity; -- sometimes in the plural; as, a
prudent man is not impoverished by his liberalities.