1
a
: a government monopoly (as on tobacco or salt) used chiefly as a means of taxation
b
: tobacco or tobacco products bought or supplied by agents of such a monopoly
2
: direct management of public finance or public works by agents of the government for government account as distinguished from a system under which such public business is done under contract
3
: the system of collecting taxes by officials who have either no interest or a very small interest in the proceeds as distinguished from the system of farming them out
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Merriam-Webster unabridged
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