The Collaborative International Dictionary of English v.0.48:

despond \de*spond"\, v. i. [imp. & p. p. Desponded; p. pr. &
   vb. n. Desponding.] [L. despond[=e]re, desponsum, to
   promise away, promise in marriage, give up, to lose
   (courage); de- + spond[=e]re to promise solemnly. See
   Sponsor.]
   To give up the will, courage, or spirit; to be thoroughly
   disheartened; to lose all courage; to become dispirited or
   depressed; to take an unhopeful view.
   [1913 Webster]

         I should despair, or at least despond.   --Scott's
                                                  Letters.
   [1913 Webster]

         Others depress their own minds, [and] despond at the
         first difficulty.                        --Locke.
   [1913 Webster]

         We wish that . . . desponding patriotism may turn its
         eyes hitherward, and be assured that the foundations of
         our national power still stand strong.   --D. Webster.

   Syn: Despond, Dispair.

   Usage: Despair implies a total loss of hope, which despond
          does not, at least in every case; yet despondency is
          often more lasting than despair, or than desperation,
          which impels to violent action.
          [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Despond \De*spond"\ n.
   Despondency. [Obs.]
   [1913 Webster]

         The slough of despond.                   --Bunyan.
   [1913 Webster]

WordNet (r) 3.0 (2006):

despond
    v 1: lose confidence or hope; become dejected; "The supporters
         of the Presidential candidate desponded when they learned
         the early results of the election"

Moby Thesaurus II by Grady Ward, 1.0:

21 Moby Thesaurus words for "despond":
   abandon hope, become suicidal, brood, despair, despair of, droop,
   falter, give up, give up hope, give way, hit rock bottom, languish,
   lose heart, lose hope, plumb the depths, reach the depths, sag,
   sink, sink into despair, touch bottom, yield to despair