Green’s Dictionary of Slang

1. to deflower a young woman.

1849

Sam Sly 14 Apr. 3/3: It is not true that Miss Ch——l is to be butchered; neither can it be true that Mrs. B——er is to be chisselled.

2. (US gay) to deflower a young man.

1972

B. Rodgers Queens’ Vernacular 39: butcher (pej) to fuck, especially to deflower a young man.