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The french words for this gay little dance song tell of the inducemets which a young lady offers a monk in an effort to get him to dance. After a hood, a sash, a home-spun gown, and a psalter (see below) she concludes: "If he had not taken a vow of poverty, many other things I would give to him." In Quebec the word "moine" means a top as well as a monk, and the song is often sung by children as they spin their tops. In earlier days it was one of the dance songs used at the fur-trading posts of the west whenever the voyageurs gathered for an evening's gaiety. (from Folk Songs of Canada, a comprehensive collection of Canada Folk Songs collected by Edith Fulton Fowke and Richard Johnston, Waterloo Music Company Limited 1954)
A psalter is a volume containing the Book of Psalms, often with other devotional material bound in as well, such as a liturgical calendar and litany of the Saints. Until the later medieval emergence of the book of hours, psalters were the books most widely owned by wealthy lay persons and were commonly used for learning to read. Many Psalters were richly illuminated and they include some of the most spectacular surviving examples of medieval book art (Wikipedia)
A video for this song: