During the last three decades of the eighteenth century, the price of watches declined and consequently they increased in popularity.

[1] William Pitt, the Prime Minister and Chancellor of the Exchequer, decided to tax watches and clocks.

[2] The Act also required makers or dealers in watches and clocks to purchase an annual license, costing 2s.

It nearly ruined the manufacturers of clocks and watches, with demand for their products declining to such an extent that within a year the manufacture of these items diminished by half.

[2] It also caused thousands of workers employed in these trades to emigrate.