Paregoric was a household remedy in the 18th and 19th centuries when it was widely used to control diarrhea in adults and children, as an expectorant and cough medicine, to calm fretful children, and to rub on the gums to counteract the pain from teething.oncentrated versions were available. Opium Camphorated, for U.S.P. Tincture: Liquid No. 338 was exactly 8 times the strength of Tincture Opium Camphorated (Paregoric) [italics in original], U.S.P., designed for preparing the tincture by direct dilution, and cost $7 per pint.