E. A. Abbott, A Shakespearean Grammar

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PRONOUNS, PERSONAL. It quasi-redundant with verbs

It is sometimes used indefinitely, as the object of a verb, without referring to anything previously mentioned, and seems to indicate a pre-existing object in the mind of the person spoken of.

“Courage, father, fight it out.
”

3 Hen. VI. i. 4. 10.

i.e. "the battle."

“Ber. She never saw it.
King. Thou speak'st it falsely.
”

A. W. v. 3. 113.

i.e. "what thou sayest."

“Dangerous peer,
That smooth'st it so with king and commonweal.
”

2 Hen. VI. ii. 1. 22.

where it == "matters."

“To revel it with him and his new bride. (So C. of E. iv. 4. 66.)
”

3 Hen. VI. iii. 3. 225.

i.e. "to take part in the intended bridal revels."

“I cannot daub it further.
”

Lear, iv. 1. 54.

i.e. "continue my former dissembling."

But it is often added to nouns or words that are not generally used as verbs, in order to give them the force of verbs.

“Foot it.
”

Tempest, i. 2. 380.

“To queen it.
”

Hen. VIII. ii. 3. 37.

“To prince it.
”

Cymb. iii. 4. 85.

“Lord Angelo dukes it well.
”

M. for M. iii. 2. 100.

And, later, “Whether the charmer sinner it or saint it,
If folly grow romantic, I must paint it.” POPE, Moral Essays, ii. 15.

The use of it with verbs is now only found in slang phrases.