Source : Webster's Revised Unabridged Dictionary (1913)

      The value is pared off from it into the clipper's pocket.
                                                  --Locke.

   2. A machine for clipping hair, esp. the hair of horses.

   3. (Naut.) A vessel with a sharp bow, built and rigged for
      fast sailing. -- {Clip"per-built`}, a.

   Note: The name was first borne by ``Baltimore clippers''
         famous as privateers in the early wars of the United
         States.