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The Collaborative International Dictionary
Waging

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.''
    --Spenser.

  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.
    --Burrill.

    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.

Wiktionary
waging

vb. (present participle of wage English)