The Ames Lettering Guide has been the standard device for creating lettering lines for more than 50 years. It is designed to slide back and forth on a straight edge to create parallel lines. The disc is rotated to the desired spacing to create precisely-spaced lines on a drawing to assist with lettering. Measures 3-15/16" x 2 3/8".
Ames Lettering Guide Instructions (opens as a PDF)