Meaning
In the old days; formerly; back in the day — 'first time' meaning times gone by. 'Fus time tings did cheap' means things used to be cheap in the old days; 'fus time people' are the folks of former times. It looks back fondly (or ruefully) on how life, values, and prices used to be, and often introduces a contrast with how things are now.
Examples
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Fus time yuh coulda leave yuh door open.
In the old days you could leave your door open.
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Fus time money did have more value.
Back in the day money had more value.
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Fus time people did have more manners.
People of former times had more manners.
Origin
From 'first time', meaning former times/the old days. See [[old-time-people]], [[long-time]].
How it’s used
'In the old days / formerly / back in the day'. See [[old-time-people]], [[long-time]].