Source : Webster's Revised Unabridged Dictionary (1913)

Discretion \Dis*cre"tion\, n. [F. discr['e]tion, L. discretio
   separation, difference, discernment, fr. discernere,
   discretum. See {Discreet}, {Discern}.]
   1. Disjunction; separation. [Obs.] --Mede.

   2. The quality of being discreet; wise conduct and
      management; cautious discernment, especially as to matters
      of propriety and self-control; prudence; circumspection;
      wariness.

            The better part of valor is discretion. --Shak.

            The greatest parts without discretion may be fatal
            to their owner.                       --Hume.

   3. Discrimination.

            Well spoken, with good accent and good discretion.
                                                  --Shak.

   4. Freedom to act according to one's own judgment;
      unrestrained exercise of choice or will.

   {At discretion}, without conditions or stipulations.

Source : WordNet®

discretion
     n 1: freedom to act or judge on one's own
     2: knowing how to avoid embarrassment or distress; "the
        servants showed great tact and discretion" [syn: {discreetness},
         {circumspection}, {prudence}]
     3: refined taste; tact [syn: {delicacy}]
     4: the power of making free choices unconstrained by external
        agencies [syn: {free will}]
     5: the trait of judging wisely and objectively; "a man of
        discernment" [syn: {discernment}]