No, it doesn't.
Squelch means to quell, silence or suppress.
The function of the squelch circuit is to mute or silence the audio output of the receiver in the absence of the desired radio signal. When the desired signal is lost (due to multi-path dropout, excessive distance, loss of power to the transmitter, etc.), the open receiver may pick up another signal or background radio noise. Typically, this is heard as white noise and is often much louder than the audio signal from the desired source.
Volume & squelch on a CB radio via kwout
Motorola pioneered the technology as Private Line for radio in the early 1950s, but as competitors developed their own variations, the generic version was known as Continuous Tone Coded Squelch System or Continuous Sub Audible Tone Coded Squelch System.
Back then, tones were generated and decoded by vibrating reeds encased in copper. These materials were chosen for their ability to withstand the rigors of weather and vibration in two- or three-way radio systems.
To learn more, see these links:
schools.bvsd.org
blog.shure.com