Posted by Sharon Hoskinson on September 23, 2001
A correction: Meaning given here is "To remove water from a boat. In military parlance this also means to escape from a damaged plane or other vehicle."
That's the wrong "bale" for the phrase. It's "bail" when talking about bailing out water, or escaping a damaged plane or vehichle. A "bale" is a bundle of goods. To "bale" is to bundle, to make up a bale.
Nice site you have here, and very useful!