1530s, "economy, thriftiness," from French frugalité (14c.), from Latin frugalitatem (nominative frugalitas) "thriftiness, temperance, frugality," from frugalis (see frugal).

FRUGALITY. The disposition to save or spare what we have got, without any desire to gain more. It is constantly, of course, associated with avarice ; but quite as frequently with generosity, and is often merely an extreme degree of housewifely habit. [Ruskin, "Fors Clavigera"]

also largess, "willingness to give or spend freely; munificence," c. 1200, from Old French largesse, largece "a bounty, munificence," from Vulgar Latin *largitia "abundance" (source also of Spanish largueza, Italian larghezza), from Latin largus "abundant, large, liberal" (see large). In medieval theology, "the virtue whose opposite is avarice, and whose excess is prodigality" [The Middle English Compendium]. For Old French suffix -esse, compare fortress. Related: Largation.

c. 1200, "a mother," also "a woman of rank or high social position; superior of a convent," and an address for a woman of rank or position, used respectfully to other ladies, from Old French dame "lady, mistress, wife," from Late Latin domna, from Latin domina "lady, mistress of the house," from Latin domus "house" (from PIE root *dem- "house, household").

From early 14c. as "a woman" in general, particularly a mature or married woman or the mistress of a household. Used in Middle English with personifications (Study, Avarice, Fortune, Richesse, Nature, Misericordie). In later use the legal title for the wife of a knight or baronet.

Slang sense of "woman" in the broadest sense, without regard to rank or anything else, is attested by 1902 in American English.

We got sunlight on the sand

We got moonlight on the sea

We got mangoes and bananas

You can pick right off the tree

We got volleyball and ping-pong

And a lot of dandy games!

What ain't we got?

We ain't got dames! 

[Richard Rodgers, "There Is Nothin' Like a Dame," 1949]