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
Colt Single Action Army Action Army, serial number 1, thought lost for many years after its production, was found in a barn in Nashua, New Hampshire in the early 1900s. It was chambered in .45 Colt, a centerfire design containing charges of up to of fine-grained black powder and a blunt roundnosed bullet. Relative to period cartridges and most later handgun rounds, it was quite powerful in its full loading. The Colt Single Action Army revolver, along with the 1870 and 1875 Smith & Wesson Model 3 "Schofield" revolver, replaced the Colt 1860 Army Percussion revolver. The Colt quickly gained favor over the S&W