The Phaserl


Art Cashin – Samuel Colt, Key Data Just Released & The Fed

from KingWorldNews:

On this day (-1) in 1836, the government of the United States granted a patent on a device that would become the prototypical American weapon. And, by accident, its development would become a prototypical story of American invention.

The patent, of course, was awarded to Samuel Colt for his “single barrel pistol with a six chamber revolving breech.” You and I (as well as Hoppy, Roy and Gene) knew it as a “six shooter.”

Colt’s idea was not entirely unique. Several patents for revolvers had been granted earlier (one of the earliest was for a “12 shooter” but it, like the others, didn’t work well). But Colt, who was 22 when he got the patent, showed his gun was practical (and at the time….it was the only way a man on horseback could get several shots off successfully).

Art Cashin continues @

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