Green’s Dictionary of Slang

a beggar; thus peg-legging, begging.

1933		M. Marshall Tramp-Royal on the Toby 19: A huge wedge of apple pie and a tumblerful of new milk rewarded my peg-legging. [Ibid.] 59: A policeman [...] caught me coming round from a back door with peglegged tommy. [Ibid.] 117: By the Toby you are to understand the world of the tramp, the panhandler, and the peglegger.
1935		Thieves Slang ms list from District Police Training Centre, Ryton-on-Dunsmore, Warwicks 8: Peg-lerrer [sic]: Beggar.