The Pegu Club cocktail was once a relatively obscure drink, and few were serving it. Perhaps due to it's requirement for orange bitters, which were impossible to find. In the early days of the modern cocktail revival, it became a favorite of many of those who lead the charge, none more-so than Audrey Saunders, who had so much respect for this drink that she named her bar after it. The recipe I provide here is how the drink would have been made there.
The first known printed occurance of this drink is in the 1930 "The Savoy Cocktail Book", where the recipe was listed as: "1 Dash Angostura Bitters. 1 Dash Orange Bitters. 1 Teaspoonful Lime Juice. 1/3 Curacao. 2/3 Dry Gin. Shake well and strain into cocktail glass."