  We show that $\N=1$ gauge theories with an adjoint chiral multiplet admit a
wide class of large-N double-scaling limits where $N$ is taken to infinity in a
way coordinated with a tuning of the bare superpotential. The tuning is such
that the theory is near an Argyres-Douglas-type singularity where a set of
non-local dibaryons becomes massless in conjunction with a set of confining
strings becoming tensionless. The doubly-scaled theory consists of two
decoupled sectors, one whose spectrum and interactions follow the usual large-N
scaling whilst the other has light states of fixed mass in the large-N limit
which subvert the usual large-N scaling and lead to an interacting theory in
the limit. $F$-term properties of this interacting sector can be calculated
using a Dijkgraaf-Vafa matrix model and in this context the double-scaling
limit is precisely the kind investigated in the "old matrix model'' to describe
two-dimensional gravity coupled to $c<1$ conformal field theories. In
particular, the old matrix model double-scaling limit describes a sector of a
gauge theory with a mass gap and light meson-like composite states, the
approximate Goldstone boson of superconformal invariance, with a mass which is
fixed in the double-scaling limit. Consequently, the gravitational $F$-terms in
these cases satisfy the string equation of the KdV hierarchy.
