More on the galvanized iron angle; notice one source claims the "trash cans" were German shells. Whatever.
"GI. Government Issue. A member of the military services. Originally the stamp on buckets indicating galvanized iron.
http://4mermarine.com/USMC/dictionary.html
"Origin:
1915–20; orig. abbr. of galvanized iron, used in U.S. Army bookkeeping in entering articles (e.g., trash cans) made of it; later extended to all articles issued (as an assumed abbrev. of government issue) and finally to soldiers themselves."
http://dictionary.reference.com/browse/GI
Origin: 1917
For much of the twentieth century, GI has been the common designation for the American fighting man--or woman. However, the GI was born early in the century not as a soldier but as a trash can. Originally the initials GI formed an abbreviation that stood for the material from which a trash can was made, galvanized iron, and its source, government issue. During World War I, when the term first came to attention in the American Expeditionary Force, GI can was the doughboys' trash talk for a German artillery shell. "After dark that night," went one account, "Fritz came over and started dropping those famous G.I. cans." And another: "We crossed the river on a span of a sunken bridge that was struck by a G.I.C." German shells were also just plain GIs, as in this 1918 poem: "There's about two million fellows, and there's some of them who lie/Where eighty-eights and G.I.'s gently drop."
Shortly before the start of World War II, the GI (for government issue, or general issue) became human. There had been GI soap, GI shoes, and GI clothes; now there was the GI soldier, soon shortened to plain GI. By the time World War II began, doughboy (1865) had been completely displaced by the more versatile GI, the term that remains in use today. And whatever the effects of GI food, the military GI has nothing to do with the gastrointestinal GI of the medical profession.
http://www.answers.com/topic/gi