The canon of Ezra Pound would be incomplete without a representative collection in the master's lighter vein. Pavanes and Divagations seeks to meet this need. Included are Pound's long essay ''Indiscretions,'' one of his rare autobiographical writings, an assortment of facetious verses, his superb translations from the dialogues of Fontenelle, causeries on topics ranging from religion to the mores of moneyed society, as well as a miscellany of editorials, denunciations, and literary masquerades. Pound's barbed wit is displayed here to its best advantage. But more than a simple diversion, this volume presents an important but neglected aspect of the prime shaper of modern poetry in English.