From The Collaborative International Dictionary of English v.0.48:
Pare \Pare\, v. t. [imp. & p. p. Pared; p. pr. & vb. n. Paring.] [F. parer to pare, as a horse's hoofs, to dress or curry, as, leather, to clear, as anchors or cables, to parry, ward off, fr. L. parare to prepare. Cf. Empire, Parade, Pardon, Parry, Prepare.] 1. To cut off, or shave off, the superficial substance or extremities of; as, to pare an apple; to pare a horse's hoof. [1913 Webster]
2. To remove; to separate; to cut or shave, as the skin, rind, or outside part, from anything; -- followed by off or away; as, to pare off the rind of fruit; to pare away redundancies. [1913 Webster]
3. Fig.: To diminish the bulk of; to reduce; to lessen. [1913 Webster]
The king began to pare a little the privilege of clergy. --Bacon. [1913 Webster]
From The Collaborative International Dictionary of English v.0.48:
Paring \Par"ing\, n. [From Pare, v. t.] 1. The act of cutting off the surface or extremites of anything. [1913 Webster]
2. That which is pared off. --Pope. [1913 Webster]
Pare off the surface of the earth, and with the parings raise your hills. --Mortimer. [1913 Webster]