Webster's Revised Unabridged Dictionary · 1913

Waistcoat

Waistcoat , noun

(a)
A short, sleeveless coat or garment for men, worn under the coat, extending no lower than the hips, and covering the waist; a vest.
(b)
A garment occasionally worn by women as a part of fashionable costume.

The waistcoat was a part of female attire as well as male... It was only when the waistcoat was worn without a gown or upper dress that it was considered the mark of a mad or profligate woman. Nares.