It's just a simple substitute for a punch press. There were a few of those left in the tool room when I started at my last job in 1985. They had been used when fish hooks were still made one at a time in steps on sequential benches. Not long after that they had all walked. I think the shop foreman probably gave them to anyone who asked. I wish I had.
We used similar sets like you have for custom drill/ream fixtures years back. With the fixture mounted on the lower and a drill bushing in the upper, the part would be placed in and the the handle would lower the upper and hold in the piece to be drilled.