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Marlin Guy is correct to call the spring the " Recoil  Spring " since that is the terminology that the designer and manufacturer uses to refer to it in the Lyman Products instructional literature.

Should there be any Wordsmiths on this bulletin board, we would more correctly use the terminology " Dampening Spring " which is a more accurate description of what the device actually achieves during its operation.  ( )

corerftech
The responses to your query are all accurate, including the cool factor. There are however two additional points contributing to use of externally adjustable scopes that may broaden the overall picture. For decades, externally adjustable target scopes were the best available. Single shot shooters (me included) hung on to using them long after alternatives were available (the cool factor). The second point is the traditional class of single shot (schuetzen) rifles requires their use. Three schuetzen organizations publish traditional class rifle rules (ASSRA, ISSA, & WSU). All three specify the use of externally adjustable scopes for any sight matches.