Meaning
It is used for something which is of highest quality.
Origin
The 1753 edition of Chambers’ Encyclopedia has this phrase under an entry for ‘Diamond’:
“The first water in Diamonds means the greatest purity and perfection of their complexion, which ought to be that of the clearest drop of water. When Diamonds fall short of this perfection, they are said to be of the second or third water, &c. till the stone may be properly called a coloured one.”
Meaning
When we are hopeful of something after seeing a good start but eventually it fails to give desired results, we use this phrase.
Origin
Elkanah Settle in Reflections on several of Mr. Dryden’s plays in 1687 used it:
“If Cannons were so well bred in his Metaphor as only to flash in the Pan, I dare lay an even wager that Mr. Dryden durst venture to Sea.”
Meaning
When we put in all our efforts and speed we use this phrase.
Origin
In 1839 Caroline M. Kirkland wrote in New Home:
“… the bank would never have ‘flatted out’ if he had had a finger in the pie.”