E. Cobham Brewer 1810–1897. Dictionary of Phrase and Fable. 1898.
Shoe the Wild Colt (To).
To exact a fine called “footing” from a newcomer, who is called the “colt.” Colt is a common synonym for a greenhorn, or a youth not broken in. Thus Shakespeare says—“Ay, that’s a colt indeed, for he doth nothing but talk of his horse.” (Merchant of Venice, i. 2.)
