Source : Webster's Revised Unabridged Dictionary (1913)

Carpetbag \Car"pet*bag`\, n.
   A portable bag for travelers; -- so called because originally
   made of carpet.

Source : WordNet®

carpetbag
     adj : following the practices or characteristic of carpetbaggers;
           "carpetbag adventurers"; "a carpetbag government"

carpetbag
     n : traveling bag made of carpet; widely used in 19th century