Source : Webster's Revised Unabridged Dictionary (1913)

Liberality \Lib`er*al"i*ty\ (-[a^]l"[i^]*t[y^]), n.; pl.
   {Liberalities} (-t[i^]z). [L. liberalitas: cf. F.
   lib['e]ralit['e].]
   1. The quality or state of being liberal; liberal disposition
      or practice; freedom from narrowness or prejudice;
      generosity; candor; charity.

            That liberality is but cast away Which makes us
            borrow what we can not pay.           --Denham.

   2. A gift; a gratuity; -- sometimes in the plural; as, a
      prudent man is not impoverished by his liberalities.

Source : WordNet®

liberality
     n 1: an inclination to favor progress and individual freedom
          [syn: {liberalness}]
     2: the trait of being generous in behavior and temperament
        [syn: {liberalness}] [ant: {illiberality}]