A History of the Growth of the Steam-EngineThurston, Robert Henry
History
A History of the Growth of the Steam-Engine
Thurston, Robert Henry
Steam-engines -- History
"Misfortunes never come singly;" and Watt was borne down by the
greatest of all misfortunes--the loss of a faithful and affectionate
wife--while still unable to see a successful issue of his schemes.
Only less disheartening than this was the loss of fortune of his
steadfast friend, Dr. Roebuck, and the consequent loss of his aid. It
was at about this time, in the year 1769, that negotiations were
commenced which resulted in the transfer of the capitalized interest
in Watt's engine to the wealthy manufacturer whose name, coupled with
that of Watt, afterward became known throughout the civilized world,
as the steam-engine in its new form was pushed into use by his energy
and business tact.
Watt met Mr. Boulton, who next became his partner, in 1768, on his
journey to London to procure his patent, and the latter had then
examined Watt's designs, and, at once perceiving their value, proposed
to purchase an interest. Watt was then unable to reply definitely to
Boulton's proposition, pending his business arrangements with Dr.
Roebuck; but, with Roebuck's consent, afterwards proposed that Boulton
should take a one-third interest with himself and partner, paying
Roebuck therefor one-half of all expenses previously incurred, and
whatever he should choose to add to compensate "for the risk he had
run." Subsequently, Dr. Roebuck proposed to transfer to Boulton and to
Dr. Small, who was desirous of taking interest with Boulton, one-half
of his proprietorship in Watt's inventions, on receiving "a sum not
less than one thousand pounds," which should, after the experiments on
the engine were completed, be deemed "just and reasonable." Twelve
months were allowed for the adjustment of the account. This proposal
was accepted in November, 1769.
[Illustration: Matthew Boulton.]
MATTHEW BOULTON, who now became a partner with James Watt, was the son
of a Birmingham silver stamper and piecer, and succeeded to his
father's business, building up a great establishment, which, as well
as its proprietor, was well known in Watt's time. Watt, writing to Dr.
Roebuck before the final arrangement had been made, urged him to close
with Boulton for "the following considerations:
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