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spic (n.)

derogatory for "Latino person," 1913, from cliche protestation, No spick English. Earlier spiggoty (by 1907 "speak-a the ..."); the term is said to have originated in Panama during the canal construction. But it also was applied from an early date to Italians, and some have suggested an alteration of spaghetti.

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Definitions of spic from WordNet
1
spic (n.)
(ethnic slur) offensive term for persons of Latin American descent;
Synonyms: spik / spick
2
spic (adj.)
completely neat and clean;
their spic red-visored caps
Synonyms: immaculate / speckless / spick-and-span / spic-and-span / spick / spotless
From wordnet.princeton.edu