[ad. med.L. a(d)mortizātiōn-em, n. of action f. amortizā-re: see next.]
1. The action of alienating lands in mortmain; ‘that is to some community that never is to cease.’ J. ? Obs.
1672. Manley, Interpr., Amortization … est prædiorum translatio in manum mortuam.
1726. Ayliffe, Parergon, 88. After the Laws of Amortisation were devised.
1750. Nugent, Montesquieu’s Spir. Laws, II. XXI. xvi. 57. This confiscation was a species of the right of amortisation, to recompence the prince, or the lords, for the taxes levied on the Jews, which ceased on their embracing christianity.
2. The extinction of a debt, or of any pecuniary liability, especially by means of a sinking fund. Also concr. the sum paid towards such extinction.
[Not in Craig 1847, Worcester 1859.]
1864. Webster cites Simmonds.
1866. Daily Tel., 23 Jan., 6/1. The half-yearly three per cent. dividend and three per cent. amortisation fund.
1867. Lond. Rev., 28 Sept., 344/1. Every available resource for the amortization of the debt.
1883. Pall Mall G., 17 March, 5/2. An annual sum of £67,662 for interest, and £11,277 as amortization.
