Were straight shank drills ever commonly sold in larger sizes over and, possibly beyond, those now found in reduced shank blacksmiths style?
Handy though blacksmiths drills can be the reduced shank limits the torque that can be applied. Can't run them at book feeds. Especially as much of the time the machine will be too fast. Big ones are awfully easy to spin in the chuck too. Which is bad for both.
If so the Wescott style chuck would have been well suited to holding them. Also good for holding special tooling on large diameter shanks, whether purchased or shop made.
Generally, for good engineering reasons, Jacobs style chucks tend to top out at around 3/4" capacity so would not do for larger shanks. (Larger ones, up to 1 1/2" (?) were made to screw on small lathe spindle noses as a less costly alternative to collet sets for more accurate work but these were always rare and rather specialist devices.)
Maybe not enough reasons to invent the device but plenty to keep using something aready established and on the shelf.
Clive