ReefHe must take in a reef or so. He must reduce his expenses; he must retrench. A reef is that part of a sail which is between two rows of eyelet-holes. The object of these eyelet-holes is to reduce the sail reef by reef as it is required. Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894 More on Reef from Infoplease:
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