American watch-making is typical of the difference between the American and European industry in the nineteenth century. Here a complete watch is produced in one factory, while in England, Switzerland and France most establishments specialize in the manufacture of particular parts and these parts are then assembled in other factories. Some fifty different trades there are working separately to produce the parts. And the manufacturer, whose work is chiefly that of finishing and assembling, takes a large profit for inspection and for the prestige of his name.
By the American system, a thousand watches are produced proportionately more cheaply than a dozen; and a thousand of uniform model more cheaply than a like number of various sizes and designs. Automatic machines tend to economy of labor and uniformity of excellence. The saving begins with the cost of material and ends with the ease and quickness of repairs due to the standardization of parts.
Lord Grimthorpe said: "There can be no doubt that this is the best as well as the cheapest way of making machines which require precision. Although labor is dearer in America than here, their machinery enables them to undersell English watches of the same quality."
It now remained for American ingenuity and enterprise to level the ramparts of special privilege in the world of time-telling by producing an accurate and practical watch in sufficient quantity and at a price so low as to place it within the reach of all.
CHAPTER FIFTEEN
"The Watch That Wound Forever"
The most important development in any affair is naturally the one which concerns the greatest number of people. In the United States, it is the people who count and nothing can be considered wholly American which does not concern the mass of the population. We have already seen how watch-movements were brought to a high degree of accuracy, and have followed some of the steps by which the industry was developed in the United States, but there remained one great step to be taken, and that was the putting of an accurate watch within the financial reach of almost every person. The way in which this was brought about was thoroughly American.
In 1875, Jason R. Hopkins, of Washington, D. C., after many months of patient labor, perfected the model of a watch which he thought could be constructed in quantities for fifty cents each. He secured a patent on his model, and with Edward A. Locke, of Boston, and W. D. Colt, of Washington, sought to interest the Benedict & Burnham Manufacturing Company, of Waterbury, Connecticut, in its manufacture.
Failing in this, Locke abandoned further effort so far as the Hopkins' model was concerned. Hopkins, however, continued, and finally succeeded in enlisting the active support and financial resources of W. B. Fowle, a gentleman of wealth and leisure, who owned a fine estate at Auburndale, Massachusetts. This led to the formation of the Auburndale Watch Company. Within a few years, Fowle had sunk his entire fortune of more than $250,000 in the enterprise, and the Hopkins watch had proved a complete failure. In 1883 both Fowle and the Watch Company made assignments.