Potlatch

First, the Indian himself is to be sought out; then the horse is to be tried; next the price is to be discussed, then the mode of payment, and finally the potlatch: each and all are matters of grave consideration and delay, during which the Indians make a business of watching every circumstance of which they can take advantage. No one can be sure of closing his bargain, until the terms are duly arranged, the potlatch given, and the horse delivered.

Source: wiktionary

The end of all this scraping and hoarding is to give away the property again at some potlatch, at which in a few hours the labour of years will be dissipated. The feasts are often given by the chief men of small tribes as a sort of peace-offering to more powerful ones; but most frequently they are looked upon in the light of gratifying the vanity of the giver and of adding to his personal consequence. [...] The chiefs are under the necessity of frequently giving these potlatches in order to preserve their popularity, just as the old knights used to scatter largess to their followers; [...]

Source: wiktionary

I questioned the Chief respecting a "Potlache" which he had held at his place during the previous winter, and ascertained that himself and two of his Headmen had given away in presents to their friends 134 sacks of flour, 140 pairs of blankets, together with a quantity of apples and provisions, amounting in value to about $700, for all of which they had paid in cash out of their earnings as laborers, fishermen, and hunters.

Source: wiktionary

Nusk’Elu′sta, the Indian, to whom I owe my information regarding the clans, and who is a member of the gens Ialô′stimōt of the Taliô′mx·, stated that he had received the raven [carving] when he gave his first potlatch. At his second potlatch he received the eagle. He hoped that his mother would give him the whale at his next potlatch, and would at the same time divulge to him the secrets connected with it. [...] Property is also destroyed at potlatches. This is not returned, and serves only to enhance the social position of the individual who performed this act.

Source: wiktionary