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 Dragoon Revolver days. With the addition of a loading lever this evolved into the 1849 pocket revolver (see Colt Pocket Percussion Revolvers). The Dragoon was produced because of the problems seen with the fielded Colt Walker revolvers, namely, the Walker's heavy weight, four and a half pounds, making it suitable only for use as a saddle-mounted revolver, the Walker's propensity for cylinders exploding on occasion when fired (due to the chambers being loaded with too much powder), and the Walker's habit of dropping the loading lever upon discharge, locking up the revolver action in the middle of combat. The Colt Dragoon Revolver