Source : Webster's Revised Unabridged Dictionary (1913)

Wane \Wane\, v. i. [imp. & p. p. {Waned}; p. pr. & vb. n.
   {Waning}.] [OE. wanien, AS. wanian, wonian, from wan, won,
   deficient, wanting; akin to D. wan-, G. wahnsinn, insanity,
   OHG. wan, wana-, lacking, wan?n to lessen, Icel. vanr
   lacking, Goth. vans; cf. Gr. ? bereaved, Skr. ?na wanting,
   inferior. ????. Cf. {Want} lack, and {Wanton}.]
   1. To be diminished; to decrease; -- contrasted with {wax},
      and especially applied to the illuminated part of the
      moon.

            Like the moon, aye wax ye and wane. Waning moons
            their settled periods keep.           --Addison.

   2. To decline; to fail; to sink.

            You saw but sorrow in its waning form. --Dryden.

            Land and trade ever will wax and wane together.
                                                  --Sir J.
                                                  Child.