One peacefully buried? (7)

I believe the answer is:

hatchet

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'one' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how they can define each other.

I don't understand how the remainder of the clue works.

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(Other definitions for hatchet that I've seen before include "Short-handled axe" , "Bury this to end quarrel" , "One makes short cuts" , "Sort of job" , "Bury this to make friends again" .)

I've seen this clue in the Evening Standard.

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