What does "defalcate" mean?

Defalcate: To cut off; to take away or deduct a part of; -- used chiefly of money, accounts, rents, income, etc. To show what may be practicably and safely defalcated from the [the estimates]. Burke.

Additional senses

  1. 2.To commit defalcation; to embezzle money held in trust. "Some partner defalcating, or the like." Carlyle.

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