Although Samuel Colt did not invent the revolver, his design resulted in the first very successful one this date in 1814. He did not receive a patent for it until 1835 in England and two patents in 1836 in the U.S. He founded his first corporation that year for its manufacture with interchangeable parts. However, that was still rather new concept (it had reached commercial viability only about a decade before), and not yet easy to replicate across different factories. The Colt Paterson revolver found patchy success and failure.
Colt made another attempt at revolver production in 1846 and submitted a prototype to the US government, which was used during the Mexican-American War (1846–1848), when Colt’s new revolvers found favor with Texan volunteers (the progenitors of later Texas Ranger cavalry groups), and they placed an order for 1,000 revolvers that became known as the Colt Walker, ensuring Colt’s continuance in manufacturing revolvers. In 1848, Colt was able to start again with a new business of his own, and 1855, he converted it into a corporation under the name of Colt’s Patent Fire-Arms Manufacturing Company. It was a leader in assembly line practice, a major innovator and training ground in manufacturing technology. (from Wikipedia)