Green’s Dictionary of Slang

wealthy water n.

(US) champagne.

[US]Eve. Statesman (Walla Walla, WA) 5 Mar. 3/3: When we enterain fittingly we [...] ‘lick up the wealthy water,’ or the ‘sassy suds’.
[US]S. Ford Side-stepping with Shorty 16: He’s got a bad liver and a worse heart, for five or six years’ trainin’ on wealthy water and pâté de foie gras hasn’t done him any good.
[US]Pacific Commercial Advertiser (Honolulu, HI) 12 June 6/4: ‘Nix with the wealthy water.’ ‘Afraid champagne would put her out of business’.