This compound has been in use for at least a century. It is mentioned in the book Handy Farm Devices and How to Make Them by Rolfe Cobleigh, Associate Editor American Agriculturist.
In section 10. Worth Knowing (part II)To Render Wood Fireproof" Rendering the woodwork of houses secure against catching fire can be done at an insignificant cost, and with little trouble. Saturate the woodwork with a very delicate solution of silicate of potash as nearly neutral as possible, and when this has dried, apply one or two coats of a stronger solution."