Reference > Brewer’s Dictionary > Rag.

 Radit Usque ad Cutem.Rag (The). 
E. Cobham Brewer 1810–1897. Dictionary of Phrase and Fable. 1898.
A tatter, hence a remnant, hence a vagabond or ragamuffin.   1
“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.”   2
“Money by me? Heart and good-will you might,
But surely, master, not a rag of money.”
Shakespeare: Comedy of Errors, iv. 4.

 Radit Usque ad Cutem.Rag (The). 

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