Thanks Mike, and congrats, that's a beauty A/R reel.
Just to keep the train, here is the link to my Rogue reel post on the previous page
viewtopic.php?f=4&t=67897#p417147
The lever is not quite so sophisticated as a lever drag. which itself is a simple bolt and nut.

The Rogue drag and lever works more like a strap wrench.


Note a tag end of the bronze caliper is visibly attached to the drag mechanism, which is essentially piston, on the outside of the reel.
The back end of the caliper strap is attached to the piston, and the front end to the lever.
The numbered wheel is a cam that lifts the entire drag mechanism and applies contact stress on the caliper and disc inside the reel.
Pushing the lever toward the rod pushes the bronze strap away from the inside of the disc, relaxing the drag all the way to freespool.
Pulling the lever away from the rod increases the drag all the way to full lock.

Still, the drag itself is pretty sophisticated for 1946 conception and 1960 production.