The Collaborative International Dictionary of English v.0.48:

Bagman \Bag"man\, n.; pl. Bagmen.
   A commercial traveler; one employed to solicit orders for
   manufacturers and tradesmen. --Thackeray.
   [1913 Webster]

WordNet (r) 3.0 (2006):

bagman
    n 1: a salesman who travels to call on customers [syn:
         traveling salesman, travelling salesman, commercial
         traveler, commercial traveller, roadman, bagman]
    2: a racketeer assigned to collect or distribute payoff money