But while Watt’s argosies were coming into port richly laden, Boulton’s were still at sea. Though the latter had risked, and often lost, capital in his various undertakings, he continued as venturesome, as enterprising as ever. When any project was started calculated to bring the steam-engine into notice, he was immediately ready with his subscription. Thus he embarked 6000_l._ in the Albion Mill, a luckless adventure in itself, though productive in other respects. But he sadly missed the money, and as late as 1789, feelingly said to Matthews, “Oh that I had my Albion Mill capital back again!” When any mining adventure was started in Cornwall for which a new engine was wanted, Boulton would write, “If you want a stopgap, put me down as an adventurer;” and too often the adventure proved a failure. Then, to encourage the Cornish Copper Mining Company, he bought large quantities of copper, and had it sent down to Birmingham, where it lay long on his hands without a purchaser. At the same time we find him expending 5000_l._ in building and rebuilding two mills and a warehouse at Soho, and an equal amount in “preparing for the coinage.” These large investments had the effect of crippling his resources for years to come; and when the commercial convulsion of 1788 occurred, he felt himself in a state of the most distressing embarrassment. The circumstances of the partners being thus in a measure reversed, Boulton fell back upon Watt for temporary help; but, more cautious than his partner, Watt had already invested his profits elsewhere, and could not help him.[289] He had got together his store of gains with too much difficulty to part with them easily; and he was unwilling to let them float away in what he regarded as an unknown sea of speculation. [289] “Mr. Watt hath lately remitted _all_ his money to Scotland, and I have lately purchased a considerable quantity of copper at the request of Mr. Williams.... Besides which I have more than 45 tons of copper by me, 20 of which was bought of the Cornish Metal Company, and 20 of the Duke’s at 70_l._, and not an ounce of either yet used. In short, I shall be in a very few weeks in great want of money, and it is now impossible to borrow in London or this neighbourhood as all confidence is fled.”--Boulton to Wilson, 4th May, 1788.