English is a Germanic language and thus full of compound words: automobile, clock tower, the others that have been mentioned, kitchen knife, butter knife, driveway, parkway, or whatever else.
Looking up the etymology for the compound words:
Clock - late 14c., clokke, originally "clock with bells," probably from Middle Dutch clocke (Dutch klok) "a clock," from Old North French cloque (Old French cloke, Modern French cloche), from Medieval Latin (7c.) clocca "bell," probably from Celtic (cf. Old Irish clocc, Welsh cloch, Manx clagg "a bell") and spread by Irish missionaries (unless the Celtic words are from Latin); ultimately of imitative origin.
Tower - Old English torr "tower, watchtower," from Latin turris "a tower, citadel, high structure" (also source of Old French tor, 11c.; Spanish, Italian torre "tower"), possibly from a pre-Indo-European Mediterranean language. Meaning "lofty pile or mass" is recorded from mid-14c. Also borrowed separately 13c. as tour, from Old French tur; the modern spelling (1520s) represents a merger of the two forms.
That should answer the question. Right?