Green’s Dictionary of Slang

miserly, impoverished.

1698		N. Ward ‘Sot’s Paradise’ in Writings (1704) 25: He told me his Intent / Was not to Lampoon, or Reflect on any, / But, thro’ Necessity be Writ, like many, / In Pinch-Gut Times, to get the ready penny.
1700		N. Ward A Frolic to Horn-Fair 14: When I enquir’d into the Allowance I found it so very small, that it might rather be call’d Pinch-Gut-Colledge, than an Hospitall for Poor Pensioners.
1781		C. Macklin Man of the World Act II: In Edenburgh we ha nai sic pinch-gut doings [...] we always hai a gude comfortable dish of cutlets, or collops.
1843		Gleaner (Manchester, NH) 18 Nov. n.p.: He lives on pinch gut hill.
1883		W.C. Russell Sailors’ Lang. 103: Pinch-gut—A mean purser. Pinch-gut pay—Short allowance money.
1890		H. Nisbet ‘Bail Up!’ 178: ‘I haven’t been to Pinchgut boarding school,’ responded Harley [...] ‘Don’t be in a hurry to get into that school, my boy.’.
1901		Bulletin (Sydney) 19 Oct. 32/4: Andy was farming ‘on the pinch-gut system.’.