Roswell L. Colt Roswell L. Colt Roswell Lyman Colt (1779-1856) was an American businessman who made a fortune in the shipping industry, served for decades as governor of the Society for Establishing Useful Manufactures, and was an early railroad executive. Colt's parents were Peter Colt (1744-1824) and Sarah Lyman. (Peter's brother was Benjamin Colt (1740-1781), whose grandson would be gunmaker Samuel Colt (1814-1862).) A graduate of Yale University, Peter founded a shipping business that traded with the West Indies, served in the Revolutionary War, served as Connecticut State Treasurer from 1790 to 1794, and went on to help found Paterson, New Jersey. In
Colt 1851 Navy Revolver sighting arrangement, these revolvers and their modern replicas generally are quite accurate. The first metallic cartridge revolver made by Colt was the Thuer-Conversion Model Revolver, a design that would not require a cylinder with cylindrical chambers so as not to infringe on the Rollin White patent. A small number (about 1000–1500) of Model 1851 Navy revolvers was converted, using front-loaded, slightly tapered cartridges to fit the chambers of the cylinder reamed to a slight taper. After the expiration of the Rollin White patent (April 3, 1869), Colt 1851 (and 1861 Navy) Revolvers were converted or newly made to fire .38