I recently experienced putting my 1914 Peerless back together and finding that (after I spent some good money restoring and lacing the wheels) that there was no braking power. I panicked thinking cynically that that I might need a new hub after all that work. I posted on theCABE and received some typical advice.....don't use automotive bearing grease (which I had), hone the hub etc....and if none of those work replace the hub shell. I got to thinking though that all i needed was to be able to spread the brake shoe a bit more and found that there was very little room before the wedge was fully engaged. All I needed was a slightly wider wedge. The wedge simply looked like it was cut from standard plumbing pipe so i went to the basement and found a pipe that was almost the same thickness and diameter as what the original was cut from.
No comparison to before.....it now stops on a dime with great power. I included some pictures so you can see the before and after. You can see the difference in the last photo above which has the old worn wedge in where new one was just positioned (2nd to last photo above). The new gap is about exactly the width of a penny. Basically a FREE FIX with no measuring, just trace, cut and deburr/fine tune (if you already have pipe in the basement).