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Meaning of potlatch

pot•latch

Pronunciation: (pot'lach), [key]
— n.
  1. (among American Indians of the northern Pacific coast, esp. the Kwakiutl) a ceremonial festival at which gifts are bestowed on the guests and property is destroyed by its owner in a show of wealth that the guests later attempt to surpass.
  2. a party or celebration.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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