From The Collaborative International Dictionary of English v.0.48:
parse \parse\ (p[aum]rs), v. t. [imp. & p. p. parsed
(p[aum]rst); p. pr. & vb. n. parsing.] [L. pars a part;
pars orationis a part of speech. See Part, n.] (Gram.)
To resolve into its elements, as a sentence, pointing out the
several parts of speech, and their relation to each other by
government or agreement; to analyze and describe
grammatically.
[1913 Webster]
Let him construe the letter into English, and parse it
over perfectly. --Ascham.
[1913 Webster]