The Collaborative International Dictionary of English v.0.48:

Chit \Chit\, Chitty \Chit"ty\, n. [Hind. chi[.t][.t][imac].]
   1. A short letter or note; a written message or memorandum; a
      certificate given to a servant; a pass, or the like.
      [Webster 1913 Suppl.]

   2. A signed voucher or memorandum of a small debt, as for
      food and drinks at a club. [India, China, etc.]
      [Webster 1913 Suppl.]

The Collaborative International Dictionary of English v.0.48:

Chitty \Chit"ty\, a.
   1. Full of chits or sprouts.
      [1913 Webster]

   2. Childish; like a babe. [Obs.]
      [1913 Webster]