Do we get any sort of context for this thing, since it is after all just a drawing? As far as we know it might be nothing but a contraption someone made up that has no purpose.
The tail end does look like a brace drill tang, and to me the larger end looks suspiciously like a manual can opener. I see a cutting blade, a knurled roller for holding the rim, a geared section that might work to draw those two parts together, etc.

It mounts on the underside of this



It's a hollow auger. Used for making a round tenon or tapered tenon, depending on how it's made. It is used for the dowels that are used to reinforce chair legs, and similar stuff.
What he said. Or, it looks as if it might be able to cut a thread on a dowel.
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It's a hollow auger. Used for making a round tenon or tapered tenon, depending on how it's made. It is used for the dowels that are used to reinforce chair legs, and similar stuff.