The .276 Pedersen round was an experimental 7 mm cartridge developed for John Pedersen's Pedersen rifle, a competitor to the M1 Garand Rifle (neither are technically related to the Pedersen device).
Despite the initial rejection of the .276 Pedersen, the concept of an intermediate power military cartridge of a 6.5 to 7 mm diameter is far from dead. Current attempts to improve upon the current 5.56 x 45 mm NATO cartridge include the 6.8 mm Remington SPC and 6.5 mm Grendel.
At the time of its introduction, the .276 Pedersen was a solution to a significant problem. The US Army wanted an autoloading rifle that would fire the 30-06 cartridge, but such a rifle would have been prohibitively expensive with existing designs. A weapon of the same weight as the M1903 needed to fire a smaller cartridge. Pedersen's cartridge was viewed as a compromise. It was slightly underpowered compared to most military rifle cartridges of its time, however it was sufficiently underpowered to make a reliable, lightweight semi-automatic.
Immediately after World War Two, British designers introduced a series of 7 mm cartridges as an answer to the Germans' highly successful 7.92 x 33 mm Kurz and various studies on the matter. The U.S. stuck with .30 caliber mostly out of a desire to have a common cartridge between rifle and machine gun combined with the perceived necessity for effectiveness out to 2000 yards. Development of a shorter .30 caliber round specifically for use in an autoloading rifle began after the war, and resulted in the 7.62x51 mm NATO, a shorter and easier to feed round that gave nearly identical ballistics to the .30-06. Interestingly, British studies culminated in the 280/30 which was merely a 7.62x51 mm NATO necked down to take a 7 mm bullet essentially duplicating the modern 7 mm-08 sporting round.
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