If you want to install some previous version of RubyGem or for what ever reason, want to install RubyGem from source, perform following steps
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Login to your server using putty
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Go to RubyForge and copy the URL of RubyGem of your choice (e.g RubyGem-1.4.2)
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Download it to your server using the following command
wget http://rubyforge.org/frs/download.php/73882/rubygems-1.4.2.tgz
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Uncompress your RubyGem archive using the following command
tar -xvf rubygems-1.4.2.tgz
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cd rubygems-1.4.2
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ruby setup.rb –no-format-executable
Note that you need to run these commands as super/root user otherwise you'll get an error on step 6.