DEPRESSION OF THE BUSINESS IN 183G. Ill 



the hardware hne, and Mr. Henry Willis, with whom an in- 

 timate acquaintance had been formed during his apprenticeship 

 in Philadelphia, and who generously gave him facilities. His 

 plans were also materially forwarded by the sympathy and kind- 

 ness of Mr. John Haskins and Mr. E. M. Chaffee. 



Boston and the country for twenty miles round, was then 

 suffering from the severe losses incurred through the man- 

 ufacture and speculations in this business. In 1834, such was 

 the mania upon the subject, that it was generally considered in 

 this vicinity, a want of common sagacity for any one not to 

 own more or less India rubber stock. It was the all prevailing 

 topic of excitement, and if he could have brought his improve- 

 ment to Boston in season, as the agent of the Roxbury com- 

 pany assured him, before he commenced his experiments, he 

 would unquestionably have realized a large sum for it. But 

 now, the public mind was completely paralysed and disgusted 

 with the subject, and it was of importance to the credit of any 

 man in business, that he should be known not to have any thing 

 to do with it ; and much more to his credit, if he could show 

 that he had never engaged in the speculation. He however 

 met with several gentlemen of independence, who, notwith- 

 standing their heavy losses in the business, from pride of opinion 

 on the subject, were very desirous to see the business rise again. 

 Through these persons he brought his specimens to the notice 

 of the public, and obtained access to the use of the famous Rox- 

 bury machinery, by which he was able luithout the use of turpen- 

 tine, to demonstrate the importance of his invention. 



The invention of this machine resuscitated the Roxbury Com- 

 pany, and caused the stock to advance to par, after nearly the 

 whole capital of the company had been sunk in fruitless attempts 

 to manufacture the goods with solvents. It was supposed that 

 the solvents being dispensed with, the difficulties of the man- 

 ufacture, occasioned by the adhesiveness and decomposition of 

 the goods, would be quite surmounted, and that the gum would 

 be at least as good as in its native state. 



It was subsequently ascertained by the company that their 



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