Noun

The state or quality of being moderate; avoidance of extremes

* {{quote-book

, passage=...It regulates and governs the Passions of the Mind, and brings them into due moderation and frame... , page=17 , title=An Account of the Growth of Deism in England , author=William Stephens , year=1696}}

* 1772 , , [http://books.google.com/books?id=twVuAAAAMAAJ&pg=PA394]:

Mr. Chairman, at this moment I stand astonished at my own moderation !

* 1821 October 12, , [http://books.google.com/books?id=5q4XBa5jsy8C&pg=PA7]:

America is a model of force and freedom and moderation - with all the coarseness and rudeness of its people.

An instance of moderating: bringing something away from extremes, especially in a beneficial way

* {{quote-news, year=1936, date=March, work=The Southern Lumberman citation

, passage=With the quick moderation of the weather some buying has appeared that had been held up because of the extremely cold weather

The process of moderating a discussion

The moderation of a large online forum can be hard work.

Noun

Severity of manners or life; extreme rigor or strictness; harsh discipline.

Freedom from adornment; plainness; severe simplicity.

(economics) A policy of deficit-cutting, which by definition requires lower spending, higher taxes, or both.

* {{quote-news

, year=2012 , date=April 23 , author=Angelique Chrisafis , title=François Hollande on top but far right scores record result in French election , work=the Guardian citation , page= , passage=He said France clearly wanted to "close one page and open another". He reiterated his opposition to austerity alone as the only way out of Europe's crisis: "My final duty, and I know I'm being watched from beyond our borders, is to put Europe back on the path of growth and employment."}}

(obsolete) Sourness and harshness to the taste.