The Collaborative International Dictionary of English v.0.48:

Discount \Dis"count`\ (?; 277), v. i.
   To lend, or make a practice of lending, money, abating the
   discount; as, the discount for sixty or ninety days.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Discount \Dis"count`\, n. [Cf. F. d['e]compte. See Discount,
   v. t.]
   1. A counting off or deduction made from a gross sum on any
      account whatever; an allowance upon an account, debt,
      demand, price asked, and the like; something taken or
      deducted.
      [1913 Webster]

   2. A deduction made for interest, in advancing money upon, or
      purchasing, a bill or note not due; payment in advance of
      interest upon money.
      [1913 Webster]

   3. The rate of interest charged in discounting.
      [1913 Webster]

   At a discount, below par, or below the nominal value;
      hence, colloquially, out of favor; poorly esteemed;
      depreciated.

   Bank discount, a sum equal to the interest at a given rate
      on the principal (face) of a bill or note from the time of
      discounting until it become due.

   Discount broker, one who makes a business of discounting
      commercial paper; a bill broker.

   Discount day, a particular day of the week when a bank
      discounts bills.

   True discount, the interest which, added to a principal,
      will equal the face of a note when it becomes due. The
      principal yielding this interest is the present value of
      the note.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Discount \Dis"count`\ (?; 277), v. t. [imp. & p. p.
   Discounted; p. pr. & vb. n. Discounting.] [OF. desconter,
   descompter, to deduct, F. d['e]compter to discount; pref.
   des- (L. dis-) + conter, compter. See Count, v.]
   1. To deduct from an account, debt, charge, and the like; to
      make an abatement of; as, merchants sometimes discount
      five or six per cent for prompt payment of bills.
      [1913 Webster]

   2. To lend money upon, deducting the discount or allowance
      for interest; as, the banks discount notes and bills of
      exchange.
      [1913 Webster]

            Discount only unexceptionable paper.  --Walsh.
      [1913 Webster]

   3. To take into consideration beforehand; to anticipate and
      form conclusions concerning (an event).
      [1913 Webster]

   4. To leave out of account; to take no notice of. [R.]
      [1913 Webster]

            Of the three opinions (I discount Brown's). --Sir W.
                                                  Hamilton.
      [1913 Webster]

WordNet (r) 3.0 (2006):

discount
    n 1: the act of reducing the selling price of merchandise [syn:
         discount, price reduction, deduction]
    2: interest on an annual basis deducted in advance on a loan
       [syn: discount rate, discount, bank discount]
    3: a refund of some fraction of the amount paid [syn: rebate,
       discount]
    4: an amount or percentage deducted [syn: deduction,
       discount]
    v 1: bar from attention or consideration; "She dismissed his
         advances" [syn: dismiss, disregard, brush aside,
         brush off, discount, push aside, ignore]
    2: give a reduction in price on; "I never discount these books-
       they sell like hot cakes"

Moby Thesaurus II by Grady Ward, 1.0:

108 Moby Thesaurus words for "discount":
   abate, abatement, abjure, abuse, admit, admit exceptions, allow,
   allow for, allowance, bate, belittle, blink at, borrow,
   brush aside, brush off, charge off, chuck, chuck out, concede,
   consider, consider the circumstances, consider the source, contemn,
   contradict, cut, decline, deduct, deduction, deny, depreciate,
   derogate, despise, detract from, diminish, disapprove, discard,
   disclaim, discount notes, disdain, dismiss, disown, disparage,
   dispraise, disregard, draw back, except, exclude, fail, forget,
   forswear, gloss over, grant, ignore, kick back, knock off, lend,
   lessen, lift temporarily, lower, make allowance,
   make allowance for, mark down, minimize, omit, overlook, overpass,
   pass by, pass over, pass up, provide for, push aside, rebate,
   rebuff, recant, reduce, reduction, refund, refuse,
   refuse to consider, reject, relax, relax the condition, renounce,
   repel, repudiate, repulse, scout, set aside, shave, shove away,
   slight, spurn, subtract, subtraction, take, take a premium,
   take account of, take away, take into account,
   take into consideration, take off, take out, throw away, throw out,
   turn away, turn out, waive, write off



Bouvier's Law Dictionary, Revised 6th Ed (1856):

DISCOUNT, practice. A set off, or defalcation in an action. Vin. Ab. h.t.
DISCOUNT, contracts. An allowance made upon prompt payment in the purchase
of goods; it is also the interest allowed in advancing money upon bills of
exchange, or other negotiable securities due at a future time And to
discount, signifies the act of buying a bill of exchange, or promissory note
for a less sum than that which upon its face, is payable.
     2. Among merchants, the term used when a bill of exchange is
transferred, is, that the bill is sold, and not that it is discounted. See
Poth. De l'Usure, n. 128 3 Pet. R. 40.