STEELYARD, noun [steel and yard.] The Roman balance; an instrument for weighing bodies, consisting of a rod or bar marked with notches, designating the number of pounds and ounces, and a weight which is movable along this bar, and which is made to balance the weight of the body by being removed at a proper distance from the fulcrum. The principle of the steelyard is that of the lever; where an equilibrium is produced, when the products of the weights on opposite sides into their respective distances from the fulcrum, are equal to one another. Hence a less weight is made to indicate a greater, by being removed to a greater distance from the fulcrum.
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Webster's Dictionary 1828
American Dictionary of the English Language, Noah Webster, 1828.