Source : Webster's Revised Unabridged Dictionary (1913)

Counterbalance \Coun`ter*bal"ance\ (-b?l"ans), v. t. [imp. & p.
   p. {Counterbalanced} (-anst); p. pr. & vb. n.
   {Counterbalancing}.]
   To oppose with an equal weight or power; to counteract the
   power or effect of; to countervail; to equiponderate; to
   balance.

         The remaining air was not able to counterbalance the
         mercurial cylinder.                      --Boyle.

         The cstudy of mind is necessary to counterbalance and
         correct the influence of the study of nature. --Sir W.
                                                  Hamilton.

Counterbalance \Coun"ter*bal`ance\ (koun"t?r-b?l`ans), n.
   A weight, power, or agency, acting against or balancing
   another; as:
   (a) A mass of metal in one side of a driving wheel or fly
       wheel, to balance the weight of a crank pin, etc., on the
       opposite side of the wheel.
   (b) A counterpoise to balance the weight of anything, as of a
       drawbridge or a scale beam.

             Money is the counterbalance to all other things
             purchasable by it.                   --Locke.

Source : WordNet®

counterbalance
     n 1: an equivalent counterbalancing weight [syn: {counterweight},
           {counterpoise}, {balance}, {equalizer}, {equaliser}]
     2: equality of distribution [syn: {balance}, {equilibrium}, {equipoise}]
     3: a compensating equivalent [syn: {offset}]
     v 1: adjust or make up for; "engineers will work to correct the
          effects or air resistance" [syn: {compensate}, {correct},
           {even out}, {even off}, {even up}]
     2: oppose with equal weight or force [syn: {oppose}]
     3: oppose and mitigate the effects of by contrary actions;
        "This will counteract the foolish actions of my
        colleagues" [syn: {counteract}, {countervail}, {neutralize}]