Green’s Dictionary of Slang

peter v.1

[? peter out v. but it appears to be earlier; ? Fr. peter, to explode weakly]

1. [mid-18C+] (also petre, petter) to stop, to cease; in fig. use, to die.

2. [mid-19C] to tire, to feel exhausted.

In exclamations

peter that!

[19C] shut up! be quiet!