The Collaborative International Dictionary of English v.0.48:
Wage \Wage\, v. t. [imp. & p. p. Waged; p. pr. & vb. n.
Waging.] [OE. wagen, OF. wagier, gagier, to pledge,
promise, F. gager to wager, lay, bet, fr. LL. wadium a
pledge; of Teutonic origin; cf. Goth. wadi a pledge,
gawadj[=o]n to pledge, akin to E. wed, G. wette a wager. See
Wed, and cf. Gage.]
1. To pledge; to hazard on the event of a contest; to stake;
to bet, to lay; to wager; as, to wage a dollar. --Hakluyt.
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." --Shak.
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.
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.