Source : Webster's Revised Unabridged Dictionary (1913)

Balmy \Balm"y\, a.
   1. Having the qualities of balm; odoriferous; aromatic;
      assuaging; soothing; refreshing; mild. ``The balmy
      breeze.'' --Tickell.

            Tired nature's sweet restorer, balmy sleep !
                                                  --Young.

   2. Producing balm. ``The balmy tree.'' --Pope.

   Syn: Fragrant; sweet-scented; odorous; spicy.

Balmy \Balm"y\, a.
   Full of barm or froth; in a ferment. ``Barmy beer.''
   --Dryden.

Source : WordNet®

balmy
     adj 1: informal or slang terms for mentally irregular; "it used to
            drive my husband balmy" [syn: {barmy}, {bats}, {batty},
             {bonkers}, {buggy}, {cracked}, {crackers}, {daft}, {dotty},
             {fruity}, {haywire}, {kooky}, {kookie}, {loco}, {loony},
             {loopy}, {nuts}, {nutty}, {round the bend}, {around
            the bend}, {wacky}, {whacky}]
     2: mild and pleasant; "balmy days and nights"; "the climate was
        mild and conducive to life or growth" [syn: {mild}]
     [also: {balmiest}, {balmier}]