The Collaborative International Dictionary of English v.0.48:

Wield \Wield\, v. t. [imp. & p. p. Wielded; p. pr. & vb. n.
   Wielding.] [OE. welden to govern, to have power over, to
   possess, AS. geweldan, gewyldan, from wealdan; akin to OS.
   waldan, OFries. walda, G. walten, OHG. waltan, Icel. valda,
   Sw. v[*a]lla to occasion, to cause, Dan. volde, Goth. waldan
   to govern, rule, L. valere to be strong. Cf. Herald,
   Valiant.]
   [1913 Webster]
   1. To govern; to rule; to keep, or have in charge; also, to
      possess. [Obs.]
      [1913 Webster]

            When a strong armed man keepeth his house, all
            things that he wieldeth ben in peace. --Wyclif (Luke
                                                  xi. 21).
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            Wile [ne will] ye wield gold neither silver ne money
            in your girdles.                      --Wyclif
                                                  (Matt. x. 9.)
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   2. To direct or regulate by influence or authority; to
      manage; to control; to sway.
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            The famous orators . . . whose resistless eloquence
            Wielded at will that fierce democraty. --Milton.
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            Her newborn power was wielded from the first by
            unprincipled and ambitions men.       --De Quincey.
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   3. To use with full command or power, as a thing not too
      heavy for the holder; to manage; to handle; hence, to use
      or employ; as, to wield a sword; to wield the scepter.
      [1913 Webster]

            Base Hungarian wight! wilt thou the spigot wield!
                                                  --Shak.
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            Part wield their arms, part curb the foaming steed.
                                                  --Milton.
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            Nothing but the influence of a civilized power could
            induce a savage to wield a spade.     --S. S. Smith.
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   To wield the scepter, to govern with supreme command.
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WordNet (r) 3.0 (2006):

wield
    v 1: have and exercise; "wield power and authority" [syn:
         wield, exert, maintain]
    2: handle effectively; "The burglar wielded an axe"; "The young
       violinist didn't manage her bow very well" [syn: wield,
       handle, manage]

Moby Thesaurus II by Grady Ward, 1.0:

48 Moby Thesaurus words for "wield":
   brandish, come in contact, conduct, control, dispense, do with,
   employ, exercise, exert, feel, feel of, finger, flap, flaunt,
   flick, float, flourish, flutter, fly, handle, make use of, manage,
   maneuver, manipulate, operate, palm, palpate, paw, play, ply,
   poke at, practice, prod, put out, shake, swing, tap, throw, thumb,
   touch, twiddle, undulate, use, utilize, wag, wave, wigwag, work