Source : Webster's Revised Unabridged Dictionary (1913)

Settler \Set"tler\, n.
   1. One who settles, becomes fixed, established, etc.

   2. Especially, one who establishes himself in a new region or
      a colony; a colonist; a planter; as, the first settlers of
      New England.

   3. That which settles or finishes; hence, a blow, etc., which
      settles or decides a contest. [Colloq.]

   4. A vessel, as a tub, in which something, as pulverized ore
      suspended in a liquid, is allowed to settle.

Source : WordNet®

settler
     n 1: a person who settles in a new colony or moves into new
          country [syn: {colonist}]
     2: a negotiator who settles disputes
     3: a clerk in a betting shop who calculates the winnings