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Renounce in example sentence

"If that be so," said Panza, "I renounce henceforth the government of the promised island, and desire nothing more in payment of my many and faithful services than that your worship give me the receipt of this supreme liquor, for I am persuaded it will be worth more than two reals an ounce anywhere, and I want no more to pass the rest of my life in ease and honour; but it remains to be told if it costs much to make it."
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