One who, from a desire of being the head of the company, pays the reckoning, or, as the term is, stands squire. See Squire.
Definition taken from The 1811 Dictionary of the Vulgar Tongue, originally by Francis Grose.
See also the definition in Nathan Bailey's 1721 dictionary of canting and thieving slang.
Sir Reverence * Sitting BreechesNathan Bailey's 1721 Dictionary of canting and thieving slang
John S. Farmer's collection of canting songs and slang rhymes