This extract from Cliff Bower's Book of the Lathe (1955) is probably more applicable to flood coolant users:
PREVENTING WEAR
One of the main causes of deterioration in chuck truth is wear of the scroll bearing, and usually very little has been done by chuck manufacturers to minimize this. Wear in the scroll bearing arises from the ingress of swarf and other abrasive particles between the rotating surfaces, and these are often washed into the bearing by the action of cutting lubricants. One way to minimize the ingress of harmful material from outside the chuck is to pack the inside of the body with thick grease. This can be packed in by removing the back plate and the back cover plate from the chuck body. A better way is to force the grease into the body under fairly high pressure from a grease gun, and a means of doing so is to drill and tap a hole in the body for the insertion of a high-pressure-grease nipple. So that this will not be hazardous to the machine operator by projecting outside the body and catching in sleeves and other parts of his clothing, a recess should be machined so that the nipple is completely sunk below the body surface. The grease hole can be closed by a screw plug suitably shaped, to restore the smooth exterior of the body.
When grease is forced into the body under high pressure from a gun, it penetrates the clearance space in the scroll bearing. Since the pressure within the body will be fairly high, the passage of harmful material into the bearing will be blocked. Alter a time, the grease in the bearing will be washed away, and it can be renewed by applying more grease by means of the high-pressure nipple. The grease flowing through the scroll bearing will force out any harmful material which has penetrated into the bearing. The grease should have a fairly high viscosity; if it is too thin it will tend to be flung out of the pinion holes by centrifugal force, particularly if its temperature should rise for any reason.
The idea of using lubricant to scavenge foreign matter from a mechanism is also used for cycle hubs.