Green’s Dictionary of Slang

ebb-water n.

(UK Und.) a lack of money.

[UK]B.E. Dict. Canting Crew n.p.: Ebbwater c. when there’s but little Money in the Pocket.
[UK]New Canting Dict. [as cit. c.1698].
[UK]Bailey Universal Etym. Eng. Dict. [as cit. c.1698].