Sentence:  He soon made <WSD>ducks and drakes</WSD> of what I gave him, sank lower and lower, married another woman, I believe, became an adventurer, a gambler, and a cheat. 
Meaning of the word marked with <WSD> tags:  squandering of resources, especially money; used in expressions like "to make ducks and drakes of", "to play (at) ducks and drakes with".