The third of the famous old New England clock-makers was Chauncey Jerome. He was a man younger than Terry and Thomas by nearly a generation. Like both of his predecessors he was brought up to the carpenter's trade, and like both of them he was a born New England trader. But of the three, Jerome was perhaps most the inventor and least the man of business. As a boy, he worked for Seth Thomas when Thomas was still building barns and houses. He worked for Eli Terry in the old shop at Plymouth. Then, after a period of soldiering in the War of 1812, he went back to clock-making, sometimes manufacturing by himself and sometimes associated with one or the other of the two older men, or in other firms and enterprises too numerous to follow. Always he seems to have been somewhat of a rolling stone, although in his time he gathered as much moss as the best of them: always he was inclined to experiment with new ideas.
Jerome's carpentering skill caused him to be first interested in the making of cases, and most of the familiar forms of old American clocks—the square clock with pillars at the corners and a scroll top, the clock with a mirror underneath the dial and the like, were designed by Terry and Jerome between them. Later on, when the establishment of brass foundries in Waterbury and Bristol had enabled American makers to construct their work of brass instead of wood, Jerome worked out a design for a brass one-day timepiece in a wooden case, small enough for easy transportation, and cheaper than any clock ever made up to that time. Its price at first, near the place of manufacture, was only five or six dollars, but afterwards this was reduced.
This low-priced clock was as remarkable in its way as was the dollar watch, which it foreshadowed. And like the watch, it would not have been possible except through machine work and quantity production. It was a success at once and Jerome's business rapidly increased. In 1840, he was established in Bristol, turning out the new clocks by the thousand, and rapidly making a fortune. A year or two later, he decided to send a consignment of them to England.
Again, people shook their heads and prophesied failure. "You're losing your mind, Chauncey," they told him as they had told Eli Terry before him.
The older wooden movements could not, of course, endure a sea voyage without swelling and becoming useless. A brass movement could, of course, be sent anywhere, and some of the more expensive ones had been shipped to all parts of the country, yet it seemed absurd enough to send American clocks to England where labor was so cheap—to England, which was then the chief clockmaker of the world. Nevertheless, Jerome persevered, and his son sailed for London with a cargo of the cheap clocks. At first, the English trade would have none of them. No clock so cheap could possibly be good, they said, and Connecticut was the home of "the wooden nutmegs." It was only after great difficulty that they were introduced. Young Jerome got rid of the first few by leaving them about in retail stores, asking no payment for them until sold.
The enterprise was saved by an event which was a joke in itself. The English revenue law at that time permitted the owner of imported goods to fix their taxable value. But the government could take any such property upon payment of a sum ten per cent greater than the owner's valuation. Jerome's clocks were valued at their wholesale price, and were presently seized by the customs officials on the ground that this valuation was fraudulently low.
The elder Jerome chuckled upon learning of this. He was well satisfied to have closed out his first cargo at ten per cent profit, and at once sent over another shipment which was taken over by the customs as promptly as the first. But by the time the third consignment arrived, enough of the clocks had been sold to establish a demand for them among the retailers, and the officials finally conceded that the low price might be a reasonable one after all.
Jerome was not at the height of his prosperity. He had the largest and probably the most profitable clock business in the country; and, in the few years following, his product was exported to all parts of the world. Then the Bristol factory burned down and he moved to New Haven, where the Jerome Manufacturing Company enjoyed a brief period of great success. The business was constantly extended, and the wholesale price of the cheap brass clocks was brought as low as seventy-five cents. This figure seems almost impossibly low for the time, but the authority for it is Jerome's own autobiography.
A few years before the Civil War, the Jerome Company failed and, curiously enough, this failure came about through its connection with that usually successful man, P. T. Barnum, the famous showman. The story is too much complicated to be given here in detail, but it seems that Barnum had become heavily interested in a smaller clock company, which was merged with the Jerome concern. The overvaluation of its stock, combined with mismanagement and speculation among the officials of the Jerome Company, served to drive the whole business into bankruptcy. Barnum lost heavily, and it took him years to clear up his obligations. Jerome never did recover from it; after some years of failing power in the employ of other manufacturers, he died in comparative poverty.