A bag or sack for carrying about the person, as a bag for carrying the necessaries for a journey; a knapsack; a beggar's receptacle for charity; a peddler's pack. [His hood] was trussed up in his walet. Chaucer.
A pocketbook for keeping money about the person.
Anything protuberant and swagging. "Wallets of flesh." Shak.
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