Brewer's: Rag

A tatter, hence a remnant, hence a vagabond or ragamuffin.

“Lash hence these overweening rags of France.”

Shakespeare: Richard III., v. 3.

Rag.
A cant term for a farthing. Paper money not easily convertible is called “rag-money.” 
Money by me? Heart and good-will you might, But surely, master, not a rag of money.

Shakespeare: Comedy of Errors, iv. 4.

Rag

(The). The Army and Navy Club. “The rag,” of course, is the flag.

“ `By the way come and dine to-night at the Rag, said the major.” —Truth, Queer Story, April 1, 1886.

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
Rag-water
Radit Usque ad Cutem
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