LOSS, N. Privation Of That Which We Had, Or Had Not.

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LOSS, n. Privation of that which we had, or had not. Thus, in the
latter sense, it is said of a defeated candidate that he "lost his
election"; and of that eminent man, the poet Gilder, that he has "lost
his mind." It is in the former and more legitimate sense, that the
word is used in the famous epitaph:

Here Huntington's ashes long have lain
Whose loss is our eternal gain,
For while he exercised all his powers
Whatever he gained, the loss was ours.
-- Ambrose Bierce, "The Devil's Dictionary"