Green’s Dictionary of Slang

1. a lie.

1835		G. Kent Modern Flash Dict.
1848		Flash Dict. in Sinks of London Laid Open.
1949		Monteleone Criminal Sl. (rev. edn) 16: balm Breach of promise.

2. illicitly distilled whisky [abbr. balm of Gilead n. (2)].

1933

J.E. Grinstead ‘Old Pard’ in Goodstone Pulps (1970) 67/2: Then all hands put another helping of healing balm on the inside.