Lives of Boulton and Watt. Principally from the Original Soho Mss.: Comprising also a history of the invention and introduction of the steam engineSmiles, Samuel
History
Lives of Boulton and Watt. Principally from the Original Soho Mss.: Comprising also a history of the invention and introduction of the steam engine
Mrs. Watt concluded by entreating that no mention would be made to her
husband of her having written this letter, as it would only give him pain,
and explaining that she had adopted the expedient merely in the hope that
something might be done to alleviate his sufferings. This, however, was a
very difficult thing to do. Boulton could remind his hopeless partner of
the orders coming in for engines, and that such orders meant prosperity,
not ruin; but he could not alter the condition of a mind essentially
morbid. Boulton was himself really in far greater straits than Watt. He
had risked his whole fortune on the enterprise; and besides finding money
for buildings, plant, wages, materials, and credits, he was maintaining
Watt until the engine business became productive. We find from the annual
balance-sheets that Watt was regularly paid 330_l._ a year, which was
charged upon the hardware business; and that this continued down to the
year 1785. Till then everything had been out-go; the profits were all to
come. It was estimated that upwards of 40,000_l._ were invested in the
engine business before it began to yield profits; and all this was found
by Boulton. In one of his letters to Matthews he wrote, “I find myself
in the character of P, pay for all,” but so long as his credit held good,
Watt’s maintenance was secure.
So soon, however, as it became clear that the enterprise would be a
success, and that the demand for engines must shortly become national, the
firm was threatened with a danger of another kind, which occasioned almost
as much alarm to Boulton as it did to Watt. This was the movement set on
foot in Cornwall and elsewhere with the object of upsetting their patent.
Had the engine been a useless invention, no one could have questioned
their right of property in it; but, being recognised as of boundless
utility, it began to be urged that the public ought to be free to use it
without paying for it. It was alleged that it had become indispensable
for the proper working of the mines, and that the abolition of the patent
right would be an immense boon to the mining interest, and enable them to
work the ores at a much reduced cost, while the general industry of the
country would also be greatly benefited.
When Boulton wrote Watt from Cornwall, informing him that the Cornishmen
were agitating the repeal of the special Act by which their patent had
been extended, and getting up petitions with that object, Watt replied,
“I suspected some such move as this; and you may depend upon it they will
never be easy while they pay us anything. This is a match of all Cornwall
against Boulton and Watt; and though we may be the better players, yet
they can hold longer out. However, if we do die, let us die hard.”[198]
Public-domain text, read in full here on John Shaqi.
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