Samuel Colt, American engineer and businessman, founded Colt's Manufacturing Company (b. 1814)
Samuel Colt (; July 19, 1814 – January 10, 1862) was an American inventor, industrialist, and businessman who established Colt's Patent Fire-Arms Manufacturing Company (now Colt's Manufacturing Company) and made the mass production of revolvers commercially viable.
Colt's first two business ventures were producing firearms in Paterson, New Jersey, and making underwater mines; both ended in disappointment. His business affairs improved rapidly after 1847, when the Texas Rangers ordered 1,000 revolvers during the American war with Mexico. Later, his firearms were used widely during the settling of the western frontier. Colt died in 1862 as one of the wealthiest men in America.
Colt's manufacturing methods were sophisticated. His use of interchangeable parts helped him become one of the first to use the assembly line efficiently. Moreover, his innovative use of art, celebrity endorsements, and corporate gifts to promote his wares made him a pioneer of advertising, product placement, and mass marketing.
1862Jan, 10
Samuel Colt
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Events on 1862
- 30Jan
USS Monitor
The first American ironclad warship, the USS Monitor is launched. - 31Jan
White dwarf
Alvan Graham Clark discovers the white dwarf star Sirius B, a companion of Sirius, through an 18.5-inch (47 cm) telescope now located at Northwestern University. - 13Mar
Emancipation Proclamation
American Civil War: The U.S. federal government forbids all Union army officers from returning fugitive slaves, thus effectively annulling the Fugitive Slave Act of 1850 and setting the stage for the Emancipation Proclamation. - 15May
Abraham Lincoln
President Abraham Lincoln signs a bill into law creating the United States Bureau of Agriculture. It is later renamed the United States Department of Agriculture. - 17Aug
Dakota War of 1862
American Indian Wars: The Dakota War of 1862 begins in Minnesota as Lakota warriors attack white settlements along the Minnesota River.