These were called "pockets" and were hung by thongs from the back of the girdle. Pockets were often cut and stolen from behind by thieves and were soon nicknamed "cut purse".
History of Handbags
By Mary Bellis, About.com Guide
Handbag
The earliest handbags that have been verified historically were small sacks carried by gentlemen containing pomanders (scented spices and oranges), flint and money.
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