Roswell L. Colt in Paterson on November 22, 1856. 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
William Mason (Colt) known as the .45 Colt. The revolver was chosen by the Army in 1872, with the first order shipping in the summer of 1873 for 8000 revolvers. After the success of the Colt Single Action Army and Colt's conversion of existing percussion revolvers to Richards-Mason conversions, Mason went on to design Colt's smallest revolver, "The New Line" in 1874. There were 5 variants, each differing in size and caliber, but all using a breechblock designed by Mason. While Colt had first developed the concept of a "double-action" revolver as early as 1857 and a patent was filed, it was never