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Regardless of oneís views on the use of firearms by private citizens, it is important to know about these powerful devices, and perhaps no other American brand name of firearm is better known than Colt, which began in 1836 with the creation of the Colt revolver.
Its inventor, Samuel Colt, was born July 19, 1814, in Hartford, Connecticut.
His father ran a small silk and woolens factory, and young
Colt began working very early among the machines and bolts
of fabric. He was talented with all things mechanical, though
not terribly successful as a student. At age 15, he set off
as a deckhand on a ship to India where he is said to have
first worked up the idea for a gun that could fire multiple
times without reloading. Upon his return he studied chemistry
briefly with his fatherís dyeing staff, then he left on a
long, three-year trip that took him from Canada to Louisiana,
during which he developed skills as a showman and master marketer
while lecturing on chemistry and science.
In 1836, at the age off 22, Colt obtained a U.S. patent for Colt revolver. The weapon contained a revolving cylinder that could hold six bullets, allowing the user to fire more times without reloading than any other firearm before. Earlier pistols were available with one- and two-barrel designs, but Coltís design, which he may have conceived of while observing the workings of the capstan on a sailing ship, was the first of its kind, and earned an important place in munitions history.
Shortly after obtaining his patent, Colt found financial
support in an uncle for a manufacturing business. He set up
shop in 1837 in Paterson, New Jersey, establishing Patent
Arms Manufacturing, but the Colt revolver was at first unsuccessful.
Adoption of this new type of revolving cartridge was slow
in coming. He tried to sell his revolvers to the U.S. government,
but the Army was said to have objected to the gunís use of
a percussion cap, which had been invented 20 years earlier
but was just beginning to come into use. Officials were concerned
with the deviceís safety in emergencies. Colt was forced to
close down his factory in 1842.
Meanwhile, however, the industrious Colt had also created several other revolver models including the belt, pocket and holster revolvers, as well as two kinds of longarmor rifles. He had also developed ideas for waterproof ammunition, underwater mines, and technologies unrelated to the firearms business, including an underwater telegraph line and contributions to what would become inventor Samuel F.B. Morseís telegraph.
Then, in 1846, the Mexican War began, and the U.S. War Department came to Colt for help. They had heard reports about the Colt revolver from the Texas Rangers, who had bought and used the guns during battles in 1845 that they fought against Indians in Texas with U.S. Dragoon forces. Capt. Samuel H. Walker of the U.S. Army worked with Colt on improved designs for the guns and ordered 1,000 of the new model, which Colt dubbed the ďWalkerĒ pistol. Colt—who suddenly found himself with a large order but no factory—enlisted the help of Eli Whitney, Jr., son of the cotton gin inventor, who had a factory in Connecticut. The shipment was complete by mid-1847.
In 1848 Colt re-established his business, working out of
a rented facility in Hartford. Five years later, he was well
on his way to becoming one of the most prosperous arms manufacturers
in the world. In 1851, he became the first American to open
a plant in England, which advanced his international reputation.
In 1855, he incorporated Colt's Patent Fire Arms Manufacturing
Company in Hartford. By 1856, he was among one the wealthiest
businessmen in the U.S., famous for advanced firearms performance
as well as intricate, exquisite design and craftsmanship.
He died at the young age of 47 on January 19, 1862. His wife, Elizabeth, continued to run Colt Firearms with great success until 1901, when the company was sold to investors. The Penn-Texas Corporation bought the company in 1955. It was resold to investors in 1959 and became Fairbanks Whitney.
In 1964, the parent company reorganized under what was called Colt Industries, and the firearms division became Colt's Inc., Firearms Division. This division was sold in 1989 to C.F. Holdings Corp., and in 1990, it was sold to a combination of stakeholders including union employees, the State of Connecticut, and private investors.
Colt entered into Chapter 11 in 1992, dealt with litigation
between it and C. F. Intellectual Properties, and finally,
was bought once more and restored to financial health in 1994.
In 2002, Colt split into separate military and commercial
businesses—Colt Defense, LLC and Coltís Manufacturing Company,
Inc. Both entities are located in Hartford.