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contracted from the word Bal'sam, a general name for many oily or resinous substances which flow or trickle from certain trees or plants when an incision is made through the bark
This word occurs in the King James Version (Genesis 37:25; 43:11; Jeremiah 8:22; 46:11; 51:8; Ezek. 27:17) as the rendering of the Hebrew word tsori_ or _tseri, which denotes the gum of a tree growing in Gilead, which is very precious. It was celebrated for its medicinal qualities, and was circulated as an article of merchandise by Arab and Phoenician merchants. The shrub so named was highly valued, and was almost peculiar to Israel. In the time of Josephus it was cultivated in the neighborhood of Jericho and the Dead Sea. There is an Arab tradition that the tree yielding this balm was brought by the queen of Sheba as a present to Solomon, and that he planted it in his gardens at Jericho.
There is another Hebrew word, basam_ or _bosem, from which our word “balsam,” as well as the corresponding Greek balsamon, is derived. It is rendered “spice” (Song of Songs 5:1, 13; 6:2; margin of Revised King James Version, “balsam;” Exodus 35:28; 1 Kings 10:10), and denotes fragrance in general. Basam also denotes the true balsam-plant, a native of South Arabia (Song of Songs l.c.).