When Smith & Wesson was owned by the British conglomerate Tomkins PLC, the company signed a March 17, 2000 agreement with the Clinton Administration, HUD, Treasury, and several cities that had sued firearms manufacturers. In exchange, governments agreed to drop or limit certain lawsuits against Smith & Wesson.
The Clinton extortion inspired agreement included several major commitments:
- Built-in locking devices on firearms.
Smith & Wesson agreed to incorporate locking devices and other safety features into its firearms. This is one of the roots of the later internal lock controversy. - “Smart gun” development.
The company agreed to pursue personalized firearm technology that would limit use to authorized users. Many gun owners viewed this as a potential stepping stone to government mandates. - Dealer restrictions.
Dealers selling Smith & Wesson products would have to follow a code of conduct that went beyond existing federal law. Critics argued this would pressure dealers into adopting gun-control measures even for non-Smith & Wesson products. - Oversight and monitoring.
An oversight commission was established to monitor compliance and potentially sanction dealers.
The reaction from gun owners was swift and severe. The NRA, NSSF, many dealers, and many consumers launched a boycott. Smith & Wesson’s sales reportedly fell dramatically, and the company nearly collapsed financially.
Then came Saf-T-Hammer.
In May 2001, Saf-T-Hammer, a company whose primary business was firearm locking devices, purchased Smith & Wesson. Saf-T-Hammer’s stated intention was to integrate its security products into Smith & Wesson firearms. The internal lock that appeared on most Smith & Wesson revolvers after the acquisition was derived from the gun rights haters model.
As for lobbying Congress to require its lock on all guns, there is evidence that Saf-T-Hammer strongly promoted locking-device technology and stood to benefit from broader lock requirements. It’s obvious that they were dreaming to be the single gun manufacturing company allowed to operate in the United States.
One interesting historical footnote is that after Saf-T-Hammer acquired Smith & Wesson, the new management largely backed away from the Clinton-era agreement. Many of the most controversial provisions were never fully implemented, and the company worked to rebuild relations with gun owners and dealers.
The lasting legacy is the internal lock itself. More than twenty years later, many revolver enthusiasts still refer to it simply as “the Hillary Hole” and prefer pre-lock Smith & Wesson revolvers. The lock remains one of the most divisive product changes in the company’s history. In last year or two the hated Hillary Hole has not been included on several new models. Thankfully that old bitch is fading away.
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