The Colt M1911 was designed 1911.
Proofhouse.com has Colt sn data.
1911, and remodled in 1927
would need a serial number to answer the question.....................
The Colt M1911 pistol was invented by John Browning(1855-1926).
M1911, M1911A1, Colt SAA
You can find a list of Colt M1911 and M1911A1 production serial numbers at http://www.coolgunsite.com/pistols/colt%20production.htm. Going by the numbers in your question (7071), it looks like you have a M1911 that was made for the Navy in 1912, the first year of production.
400-1000
Colt M1911
You must call Colt to find out.
The M1911 is the military designation for John M. Browning's .45 caliber automatic pistol. He was employed by Colt Firearms, so the patent gives credit to Colt for this firearm.
The Colt M1911 and the colt M1911A has only 1 caliber .45 or 45/100 of an inch. This round is also known as the colt .45 A.C.P. (all Colt pistols) It is a short round which differs from the .45 long round.