The Smith & Wesson Model 2 Army is a single action tip-up revolver, on which the barrel pivoted upwards, hinged on the forward end of the topstrap. The deal allowed Smith & Wesson to develop and produce the first cartridge revolver, the Smith & Wesson Model 1 in caliber. A former employee of the Colt's Manufacturing Company named Rollin White, who held the patent for the "Bored-through" cylinder, was contacted, and Smith & Wesson proposed to pay him a royalty of $0.25 on every revolver that they made. As Samuel Colt's patent on the revolver was set to expire in 1856, Wesson began developing a prototype for a cartridge revolver with a "Bored-through" cylinder.
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Wesson founded the Smith & Wesson Company in Norwich, Connecticut, to develop Volcanic Firearms, in 1855 the company was renamed Volcanic Repeating Arms and was sold to Oliver Winchester. It was manufactured 1861 - 1874, with a total production of 77,020. 32 rimfire long caliber, its cylinder held 6 shots. 32 caliber revolver, intended to combine the small size and convenience of the Smith & Wesson Model 1. 2 Old Model Smith & Wesson Revolver was Smith & Wesson's first.