I am only surprised the principle was not realised much longer ago, perhaps even by someone like Charles Babbage.
At simplest the addition / subtraction is not unlike stacking feeler-gauges or gauge blocks, but this device seems a logical development of the Vernier principle. However, I am not a mathematician so could be wrong!
Perhaps nearer is the idea of concentric screw-threads of different pitches to give very fine axial adjustment, but I forget where I saw this described, and for what application.