n. & v.
n. 1 a small pouch of leather etc. for carrying money on the person. 2 US a handbag. 3 a receptacle resembling a purse in form or purpose. 4 money, funds. 5 a sum collected as a present or given as a prize in a contest.
v. 1 tr. (often foll. by up) pucker or contract (the lips). 2 intr. become contracted and wrinkled. hold the purse-strings have control of expenditure. the public purse the national treasury.
[ OE purs f. med.L bursa, byrsa purse f. Gk bursa hide, leather ]