American inventor and industrialist Samuel Colt He is remembered for having invented the revolver in 1836.
Samuel Colt He was born on July 19, 1814, in Hartford, Connecticut. His father was a farmer turned businessman, and his mother’s father was an army officer whose flintlock pistol was one of the most prized possessions in the world. colt.
His first studies took place at Glastonbury, where he showed more interest in science than in biblical studies and enthusiastically read a scientific encyclopedia called the “Compendium of Knowledge.” When he was 15 years old, he joined his father’s textile factory and became familiar with the workers’ tools and equipment, and the general layout of the factory. Using this and his prior knowledge, he made a homemade explosive that he used to blow up a raft at a 4th of July celebration. His parents later sent him to boarding school, where he continued to demonstrate his own explosives to his classmates. One such incident at a July 4 demonstration in 1830 led to his expulsion and his father sent him to sea to make him a sailor.
While colt He was en route to Calcutta on one of his trips, he looked at the ship’s navigation system and noticed that it didn’t matter which way the wheel was going, the spokes were always aligned with the clutch that was in a certain position to allow this. This was reportedly his inspiration for the idea of creating the “rotating gun“or stir, as it was later called. He even developed a prototype using scrap wood.
After returning home in 1832, he went to work for his father, who financed the production of two weapons that colt had developed, a rifle and a pistol. His father was unhappy with the results and refused to fund any further development. Samuel He then started walking the roads demonstrating for crowds using nitrous oxide (laughing gas) to earn money. He even lectured in museums and conference rooms. After saving some money, he hired gunsmiths from Baltimore, including a famous gunsmith named John Pearson, and he borrowed $ 300 from his friend’s father to apply for a patent.
Once he received the patents in both the UK and the United States, he partnered with a group of venture capitalists to form a company called “Patent Arms Manufacture of Paterson, NJThe patent gave him a monopoly on the manufacture of revolvers in the United States. Samuel Colt suffered several financial crises and operational bottlenecks. He borrowed money from his family when he was in trouble. He used to spend large amounts of his company funds on personal purchases such as clothing, food and liquor for his clients, which irritated his investors. His business tactics were very aggressive; it used newspaper advertisements, product placements, and even kickbacks and manipulation to retain its status as the sole producer and distributor of revolvers in the United States.
He created his own manufacturing company under the name “Colt’s Patent Firearms Manufacturing Company“and established armories in Hartford and London. He later received an extension to his patent and chose to keep the price of his revolvers low to make them affordable and create demand. The success of his manufacturing empire can be attributed to a number of factors; his business and marketing acumen, the outbreak of the Mexican War and the American Civil War, and his political alliances with various government officials and agencies. He had no qualms about supplying arms to both sides in a war and was even criticized for his support to the southern states during the Civil War.
Samuel Colt He died at the age of 48 in 1862, leaving behind a huge empire worth $ 15 million at the time of his death (estimated at more than $ 350 million by today’s standards) that his wife and son inherited.