American Dictionary of the English Language

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SQUIB, noun [This word probably belongs to the family of whip; denoting that which is thrown.]

1. A little pipe or hollow cylinder of paper, filled with powder or combustible matter and sent into the air, burning and bursting with a crack; a cracker.

Lampoons, like squibs, may make a present blaze.

The making and selling of squibs is punishable.

2. A sarcastic speech or little censorious writing published; a petty lampoon.

3. A pretty fellow. [Not in use.]

The squibs, in the common phrase, are called libellers.

SQUIB, verb intransitive To throw squibs; to utter sarcastic or severe reflections; to contend in petty dispute; as, two members of a society squib a little in debate. [Colloquial.]