POTLATCH

I. noun Etymology: Chinook Jargon patlač, from Nootka p̓aλ̄p̓ač Date: circa 1861 a ceremonial feast of the American Indians of the northwest coast marked by the host's lavish distribution of gifts or sometimes destruction of property to demonstrate wealth and generosity with the expectation of eventual reciprocation, a social event or celebration, II. verb Date: 1898 transitive verb to give (as a gift) especially with the expectation of a gift in return, to hold or give a ~ for (as a tribe or group), intransitive verb to hold or give a ~