While many sources try and attribute that to aviation the saying predates airplanes and it is felt to be from centrifugal governors on steam engines.
Many confuse the "Balls" sayings... The term "Balls out" came from the old Watt steam engine governors. When at high speed the balls were at their furthest extent. So if the old steam engine (lots of farm machinery at the time had governors that were up where you would see them as well as not get hit by the flailing hardware) was running at full speed it was said to be running "balls out"... The term "Balls to the wall" is indeed an aviation term referring to the pilot pushing all of the balls (all of the throttle, mixture and prop handles) to the firewall. When multi engine aircraft came along in the 30's there were lots of "balls" at the end of all of those handles, and that is where that saying came from. Old steam trains didn't have handles with balls on the end, so the phrase "balls to the wall" didn't come from steam trains. Their handles tended to be long, reaching across the cab and with a rounded end so that the engineer could push it with the palm of his hand from any angle.
old chinese proverb,to be said in appropriate accent........'better be down here,wishing you up there,than up there,wishing you down here'