Most barrels I get have had the drain holes repaired by tapping oversize, usually with a coarse thread that is not always successful.
I end up tapping and fitting a fine threaded brass bush tapped central 1/8 BSPT to take either a flanged hexagon headed plug ()1/8 BSPP for this) or stainless taper plug, or brass tap from a variety of vintage supply sources for Classic cars. Roger