jubilee
    n 1: a special anniversary (or the celebration of it)

Jubilee \Ju"bi*lee\, n. [F. jubil['e], L. jubilaeus, Gr. ?, fr.
   Heb. y[=o]bel the blast of a trumpet, also the grand
   sabbatical year, which was announced by sound of trumpet.]
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   1. (Jewish Hist.) Every fiftieth year, being the year
      following the completion of each seventh sabbath of years,
      at which time all the slaves of Hebrew blood were
      liberated, and all lands which had been alienated during
      the whole period reverted to their former owners. [In this
      sense spelled also, in some English Bibles, jubile.]
      --Lev. xxv. 8-17.
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   2. The joyful commemoration held on the fiftieth anniversary
      of any event; as, the jubilee of Queen Victoria's reign;
      the jubilee of the American Board of Missions.
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   3. (R. C. Ch.) A church solemnity or ceremony celebrated at
      Rome, at stated intervals, originally of one hundred
      years, but latterly of twenty-five; a plenary and
      extraordinary indulgence granted by the sovereign pontiff
      to the universal church. One invariable condition of
      granting this indulgence is the confession of sins and
      receiving of the eucharist.
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   4. A season of general joy.
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            The town was all a jubilee of feasts. --Dryden.
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   5. A state of joy or exultation. [R.] "In the jubilee of his
      spirits." --Sir W. Scott.
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Jubilee
   a joyful shout or clangour of trumpets, the name of the great
   semi-centennial festival of the Hebrews. It lasted for a year.
   During this year the land was to be fallow, and the Israelites
   were only permitted to gather the spontaneous produce of the
   fields (Lev. 25:11, 12). All landed property during that year
   reverted to its original owner (13-34; 27:16-24), and all who
   were slaves were set free (25:39-54), and all debts were
   remitted.
   
     The return of the jubilee year was proclaimed by a blast of
   trumpets which sounded throughout the land. There is no record
   in Scripture of the actual observance of this festival, but
   there are numerous allusions (Isa. 5:7, 8, 9, 10; 61:1, 2; Ezek.
   7:12, 13; Neh. 5:1-19; 2 Chr. 36:21) which place it beyond a
   doubt that it was observed.
   
     The advantages of this institution were manifold. "1. It would
   prevent the accumulation of land on the part of a few to the
   detriment of the community at large. 2. It would render it
   impossible for any one to be born to absolute poverty, since
   every one had his hereditary land. 3. It would preclude those
   inequalities which are produced by extremes of riches and
   poverty, and which make one man domineer over another. 4. It
   would utterly do away with slavery. 5. It would afford a fresh
   opportunity to those who were reduced by adverse circumstances
   to begin again their career of industry in the patrimony which
   they had temporarily forfeited. 6. It would periodically rectify
   the disorders which crept into the state in the course of time,
   preclude the division of the people into nobles and plebeians,
   and preserve the theocracy inviolate."