The Collaborative International Dictionary
Oiled silk
oiled \oiled\ (oild), a.
Covered or treated with oil; dressed with, or soaked in, oil.
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Drunk; inebriated. [slang] Oiled silk, silk rendered waterproof by saturation with boiled oil. well oiled,
operating smoothly and efficiently.
very drink. [slang]
Wiktionary
oiled silk
n. Silk made waterproof by saturation with boiled oil.