horse-shit n.

"solidungulate perissodactyl mammal of the family Equidæ and genus Equus" [Century Dictionary], Old English hors "horse," from Proto-Germanic *harss- (source also of Old Norse hross, Old Frisian, Old Saxon hors, Middle Dutch ors, Dutch ros, Old High German hros, German Roß "horse"), of unknown origin. By some, connected to PIE root *kers- "to run," source of Latin currere "to run." Boutkan prefers the theory that it is a loan-word from an Iranian language (Sarmatian) also borrowed into Uralic (compare Finnish varsa "foal"),

The usual Indo-European word is represented by Old English eoh, Greek hippos, Latin equus, from PIE root *ekwo-. Another Germanic "horse" word is Old English vicg, from Proto-Germanic *wegja- (source also of Old Frisian wegk-, Old Saxon wigg, Old Norse vigg), which is of uncertain origin. In many other languages, as in English, this root has been lost in favor of synonyms, probably via superstitious taboo on uttering the name of an animal so important in Indo-European religion. For the Romanic words (French cheval, Spanish caballo) see cavalier (n.); for Dutch paard, German Pferd, see palfrey; for Swedish häst, Danish hest see henchman. As plural Old English had collective singular horse as well as horses, in Middle English also sometimes horsen, but horses has been the usual plural since 17c.

Used at least since late 14c. of various devices or appliances which suggest a horse (as in sawhorse), typically in reference to being "that upon which something is mounted." For sense of "large, coarse," see horseradish. Slang use for "heroin" is attested by 1950. To ride a horse that was foaled of an acorn (1670s) was through early 19c. a way to say "be hanged from the gallows." Horse latitudes first attested 1777, the name of unknown origin, despite much speculation. Horse-pistol, "large one-handed pistol used by horseback riders," is by 1704. A dead horse as a figure for something that has ceased to be useful is from 1630s; to flog a dead horse "attempt to revive interest in a worn-out topic" is from 1864.

HORSEGODMOTHER, a large masculine wench; one whom it is difficult to rank among the purest and gentlest portion of the community. [John Trotter Brockett, "A Glossary of North Country Words," 1829]

The term itself is attested from 1560s. The horse's mouth as a source of reliable information is from 1921, perhaps originally of racetrack tips, from the fact that a horse's age can be determined accurately by looking at its teeth. To swap horses while crossing the river (a bad idea) is from the American Civil War and appears to have been originally one of Abe Lincoln's stories. Horse-and-buggy meaning "old-fashioned" is recorded from 1926 slang, originally in reference to a "young lady out of date, with long hair." To hold (one's) horses "restrain one's enthusiasm, be patient" is from 1842, American English; the notion is of keeping a tight grip on the reins.

Middle English shit "diarrhea," from Old English scitte "purging, diarrhea," from source of shit (v.). The general sense of "excrement" dates from 1580s (Old English had scytel, Middle English shitel for "dung, excrement;" the usual 14c. noun for natural discharges of the bodies of men or beasts seems to have been turd or filth). As an exclamation attested in print by 1920 but certainly older. Use for "obnoxious person" is by 1508; meaning "misfortune, trouble" is attested from 1937.

Shit-faced "drunk" is 1960s student slang; shit list is from 1942. Shit-hole is by 1937 as "rectum," by 1969 in reference to undesirable locations. Shitload (also shit-load) for "a great many" is by 1970. Shitticism is Robert Frost's word for scatological writing.  

Up shit creek "in trouble" is by 1868 in a South Carolina context (compare the metaphoric salt river, of which it perhaps a coarse variant). Slang not give a shit "not care" is by 1922. Pessimistic expression same shit different day is attested by 1989. To get (one's) shit together "manage ones affairs" is by 1969. Emphatic shit out of luck is by 1942.

The expression when the shit hits the fan "alluding to a moment of crisis or its disastrous consequences" [OED] is attested by 1967.

The expression is related to, and may well derive from, an old joke. A man in a crowded bar needed to defecate but couldn't find a bathroom, so he went upstairs and used a hole in the floor. Returning, he found everyone had gone except the bartender, who was cowering behind the bar. When the man asked what had happened, the bartender replied, 'Where were you when the shit hit the fan?' [Hugh Rawson, "Wicked Words," 1989]