No-soap Definition
phrase
It is (was) a failure.
Wiktionary
Origin of No-soap
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The phrase appears, with no clear meaning, in a 1755 Samuel Foote nonsense prose poem, "The Grand Panjandrum". In the U.S., soap took on the meaning of money (see OED), and so no soap was a denial of money, say in response to a request for some.
From Wiktionary
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