Cheap Jack

Jack, the chap-man. Not cheap, meaning low-priced, but cheap meaning merchant, as in “chapman,” “Cheap-side,” etc. Jack is a term applied to inferior persons, etc. (Saxon, cepa, a merchant; ceapian, to buy; ceapmann, a tradesman.) (See Jack)

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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