Lives of Boulton and Watt; Principally from the Original Soho Mss. Comprising Also a History of the Invention and Introduction of the Steam Engine (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1865 edition. Excerpt: ... and others of his personal friends, and obtained heavy advances from his bankers; but all this was found insufficient, and his embarrassments seemed only to increase. Watt could do nothing to help him with money, though he had consented to the mortgage of the steamengine royalties to Mr. Wiss, by which the sum of 7000/. had been raised. This liability lay heavy on the mind of Watt, who could never shake himself free of the horror of having incurred such a debt; and many were the imploring letters that he addressed to Boulton on the subject. "I beg of you," said he, "to attend to these money affairs. I cannot rest in my bed until they i.e. the mortgage and banker's advance have some determinate form. I beg you will pardon my importunity, but I cannot bear the uneasiness of my own mind, and it is as much your interest as mine to have them settled."1 The other partner, Fothergill, was quite as downhearted. He urged that the firm of Boulton and Fothergill should at once stop payment and wind up; but as this would have seriously hurt the credit of the engine firm, Boulton would not listen to the suggestion. They must hold on as they had done before, until better days came round. Fothergill recommended that at least the unremunerative branches of the business should be Merton, ' lent Boulton 3000Z. at 4 per cent. When Boulton came to pay a higher rate of interest on other loans, he wrote Day proposing to pay him the same rate; but Day refused to accept the advance, as he could not make more of his money elsewhere. Day, however, offered him some good advice. "Give me leave," said he, "with the real interest of a sincere friend, to express my wishes that now at last when a fortune is within your I-wer, you will...