I love this thread and for once I love all the interpretations.The more I read the story and indeed seethe film, the more layers are uncovered.
In the s.s. it says Aguirre takes in the the worn appearance of Ennis. He tells him that he needs to be at the bridge for noon. he didn't ask if Ennis had a watch but took a cheap round ticker on a braided cord ---------- set it, tossed it to him as if he weren't worth the reach." He continues on, "we'll truck you up the jump off"
In the above I believe Proulx has chosen each word deliberately, there is so much sub text. First the arrogance and disdain of Aguirre assuming Ennis would not have a watch. Then even setting it, so implying Ennis would not have the brains to do it himself.
Tossing the watch, again disdain, Ennis is not even worth the short walk to hand the watch over.
Then there is the use of specific words, such as calling the watch a ticker. In the U.K at least, ticker is slang for heart, (as in the old ticker has been playing me up a bit lately.) Also the watch is on a cord,not a strap in the s.s, so would hang round Ennis's neck and rest at about heart level.
The watch is symbolic for Ennis's heart. It also, (as someone has mentioned,) needs to be wound up, in a way showing us that Ennis is about to have his heart woken for the first time.
The disdainful treatment Aguirre subjects Ennis to, is analogous with the fact he not only despises him, but thinks even his heart is worthless. That is a pretty hard judgement of anyone. The heart is the organ that keeps the whole body and mind together. It can be broken literally and metaphorically.
The other point that intrigues me is the use of the words, "jump off" Ennis although he does not know it then is literally about to, heart in hand jump off into the unknown.
The watch also brings in the other dimension of the story, that of time. The cut short time, the 4 years passing, the 20 years of "fishing" then the eternity, of a life without Jack. Time lost, heart old, like the watch he is given.Even the paradox of Ennis seeming older than his years, due to his parent's deaths at such a young age, and what his father made him witness, weighed against his naivety and youthful inexperience in matters of the heart and sex.
Jack to me has always seemed the opposite in some ways. He is youthful and exuberant, almost childlike in his expectations and wishes, yet paradoxically he seems more sexually experienced and more aware of his heart.Opposites within opposites.
It is a never ending cycle for the two of them, in the same way the seasons are cyclical and too the hands moving round the watch. I am in awe of the talent of Proulx, to speak volumes in just a few words. To weave so many intricate details and themes which will meander through the whole story. I could read the s.s a hundred times and still find more.