An armed ship having her upper deck cut away, and thus reduced to the next inferior rate, as a seventy-four cut down to a frigate.  Totten.  [1913 Webster]

 To cut down to a less number of decks, and thus to an inferior rate or class, as a ship; hence, to prune or abridge by cutting off or retrenching parts; as, to razee a book, or an article.  [1913 Webster]