I am assuming this is a governor used on some vehicle?
Bill, my 1921 Pierce 5 ton truck has something like that on it. Can you post a picture from more of a distance. Karl
Karl here is a picture of both pieces, it can be adjusted to regulate fuel flow.
That is a Seagrave part. It was connected to the discharge side of the fire pump by a water line and sits under the carburetor on the drivers side of the engine. . When the line that is charged is shut down the pressure is fed back to this device and throttles the engine down. I hope this explains it.