American Dictionary of the English Language

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ECON'OMIZE, verb intransitive To manage pecuniary concerns with frugality; to make a prudent use of money, or of the means of saving or acquiring property. It is our duty to economize in the use of public money, as well as of our own.

ECON'OMIZE, verb transitive To use with prudence; to expend with frugality; as, to economize one's income.

To manage and economize the use of circulating medium.