From 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.]
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   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.
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            My life I never but as a pawn
            To wage against thy enemies.          --Shak.
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   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.
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            To wake and wage a danger profitless. --Shak.
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   3. To engage in, as a contest, as if by previous gage or
      pledge; to carry on, as a war.
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            [He pondered] which of all his sons was fit
            To reign and wage immortal war with wit. --Dryden.
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            The two are waging war, and the one triumphs by the
            destruction of the other.             --I. Taylor.
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   4. To adventure, or lay out, for hire or reward; to hire out.
      [Obs.] "Thou . . . must wage thy works for wealth."
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   5. To put upon wages; to hire; to employ; to pay wages to.
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            Abundance of treasure which he had in store,
            wherewith he might wage soldiers.     --Holinshed.
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            I would have them waged for their labor. --Latimer.
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   6. (O. Eng. Law) To give security for the performance of.
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   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.
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