This section is from the book "A Treatise On Therapeutics, And Pharmacology Or Materia Medica Vol2", by George B. Wood. Also available from Amazon: Part 1 and Part 2.
The balsam of Peru is obtained from a species of Myro-spermum, for which the name of Myrospermum Poreirae has been proposed, in honour of the late Dr. Pereira. This is a large tree growing in Central America, in the State of San Salvador, on the Pacific coast. The balsam is collected by the aborigines, who make incisions in the bark, and, having burned it slightly to favour the flow of the juice, introduce rags, which imbibe the liquid. When saturated, these are boiled in water, so as to separate the balsam, which on cooling subsides. The supernatant water is poured off, and the balsam, having been purified by straining, is introduced into jars, in which it is exported.
This balsam is a thickish somewhat viscid liquid, of a dark reddish-brown colour, a fragrant odour analogous to that of balsam of Tolu, yet different and less agreeable, and a warm, bitterish, somewhat pungent taste. it is heavier than water, is inflammable, and consists of resin, a peculiar volatile oil, and an acid, which is either benzoic, or cinnamic, but probably the latter. Boiling water extracts the acid, and the oil may be separated by distillation. The balsam is soluble in alcohol.
The effects of balsam of Peru are essentially the same as those of the balsam of Tolu, last described. it was formerly highly esteemed, and much used, both as a topical excitant, and internally as an expectorant. A notion prevailed that there was in the balsams some property peculiarly favourable to the healing not only of ulcers, but even of fresh wounds; so that the term balsamic came to be almost synonymous with healing. With this view of its powers, it was very naturally concluded that it might prove serviceable in ulcerative affections of the lungs; and hence it became a popular remedy in phthisis, and other pectoral diseases, presenting analogous exterior characters. At present it is considered useful in indolent ulcers simply as a gentle local excitant, and in chronic bronchial diseases as a mild stimulating expectorant. it is altogether unsuited to acute inflammation of the air-passages, and, indeed, in this country, is used very little in regular medical practice for any purpose.
Among the complaints in which it was formerly used, were also diseases of the urinary passages, leucorrhoea, amenorrhoea, rheumatism, and palsy. Sydenham found great benefit from this balsam in the pains of colica pictonum, which were frequently relieved by it.
The dose is from half a fluidrachm to a fluidrachm, which may be made into an electuary with sugar, or given more conveniently in the form of emulsion; the balsam being suspended in water by means of gum arabic or the yolk of eggs, and sugar.
 
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