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Not a great deal is known about the man who designed and patented what was to become one of the finest single shot actions made in the United States. His name was Charles H. Ballard, born in 1822 in the town of Sterling, Massachusetts. C.H. Ballard's occupation was that of a machinist. On November 5, 1861, he obtained a patent for a firearm that was to make the name "Ballard" a household word to riflemen for many years to come. After receiving the patent C.H. Ballard sold his interests to Warren Williams of the firm Ball and Williams. Ball and Williams was the first of many different firms to manufacture the new Ballard rifle in quantity.

The Ballard action patented by C.H. Ballard was manufactured by many different firms most notably Ball and Williams, R. Ball and Company, Merrimack Arms Company, and Brown Manufacturing Company. These firearms were mainly chambered for rimfire cartridges of the era and Civil War contracts figured heavily in production runs. The Ballard single shot most recognized by today's single shot enthusiast did not come along until Schoverling and Daly of New York, then holders of the Ballard patent, made arrangements with John Malon Marlin to work over the old patent and begin production in his plant.

In 1884 Schoverling and Daly throught the Ballard name first introduced the 38-55 for their single shot target rifles. Its nomenclature is derived from its approximately .38 caliber bullet, and the 55 grains of black powder with which it was charged.