Boulton, Matthew (1728-1809)

English factory owner who helped to finance James Watt's development of the steam engine. Boulton had an engineering works near Birmingham. He went into partnership with Watt 1775 to develop engines to power factory machines that had previously been driven by water. Boulton, born in Birmingham, first joined forces with Watt 1769. They established the steam engine by erecting pumps in machines to drain the Cornish tin mines. Boulton foresaw a great industrial demand for steam power and urged Watt to develop the double-action rotative engine patented 1782 and the Watt engine 1788 to drive the lapping machines in his factory. In 1786 Boulton applied steam power to coining machines, obtaining a patent 1790. So successful was the process that as well as his home market Boulton supplied coins to foreign governments and to the East India Company. In 1797 he was commissioned to reform the copper currency of the realm. Boulton's machines for the Royal Mint continued in efficient operation until 1882.