This section is from the book "Cyclopedia Of Architecture, Carpentry, And Building", by James C. et al. Also available from Amazon: Cyclopedia Of Architecture, Carpentry And Building.
Exterior paints are more elastic, as they need to be far more lasting, than those used on interiors, since the effect of exposure to the sun and rain, destroys paint more than almost anything else does. Paint on the interior of a house will last almost indefinitely; but on the outside the best paint is not very durable. The surface, if new, should be cleaned by brushing; knots should be shellacked; after which the priming coat should be applied. This may be the same paint which is selected for the finish, only thinned with boiled oil (or raw oil and dryer), using one to one and a-third gallons of oil to each gallon of paint. The reason why ordinary paint may not be used as a primer, is that the wood absorbs the oil, leaving the pigment as a comparatively non-adhesive powder on the surface, from which the next coat will probably peel off. The next step is to putty up all nailholes and other defects. For the second coat, many experts advise the addition of half a pint of turpentine to the gallon of paint; others make no addition to it. The third coat is applied after the second is thoroughly dry; if a week or a month can elapse between these coats, so much the better.