The involution of wampum as currency ; the story told by the colonial ordinances of New-Netherland, 1641-1662

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The Involution of Wampum ag CuMenctJ.

The Story Told by the Colonial Ordinances of
New-Netherland, 1641-1662.

[From the New York Times, July 28, rtgs.]*' (.

THE INVOLUTION OF WAMPUM AS CURRENCY.

THE STORY TOLD BY THE COLONIAL ORDINANCES OF
NEW-NETHERLAND.

BY SIMON W. ROSENDALE, OF ALBANY.

It seems to have been conclusively demonstrated by experi
ence in the Colony of New-Netherland, that one community
cannot establish or uphold an article as currency which is not
generally accepted, and a quaint light, like the glimmering of a
seventeenth-century lantern is thrown upon the subject of the
pending " silver question" by the Colonial ordinances of New-
Netherland of the years 1641-1662. This period of about
twenty years marked the decadence of wampum as currency.

In the belief that a reference to the subject is opportune,
these ordinances, in their antiquated language, are reintroduced,
with confidence that they will prove interesting and furnish a
lesson singularly appropriate at this time.

In " Munsell's Collections on the City of Albany, (Vol I.
p. 385), we are told that beaver skins and wampum for many
years formed the currency of the country. The price of beaver
skins in 1641 was 8 guilders, equal to $3.20, a guilder being

M156280

2 THE INVOLUTION OF WAMPUM AS CURRENCY.

placed at 40 cents. In 1642 beaver skins which measured an
ell square were sold at six fathoms of wampum, and rose to ten
fathoms in the following year. The accounts of the Dutch
Church indicate that a guilder in wampum was equivalent to
\2\ cents in specie.

The first ordinance is as follows :

ORDINANCE

of the Director and Council of New-Netherland regulating
the Currency of Wampum. Passed 18 April, 1641.
(N. Y. Col. MSS. IV., 352.)

Whereas, Very bad wampum is at present circulated here,
and payment is made in nothing but rough, unpolished stuff,
which is brought hither from places where it is 50 per cent,
cheaper than it is paid out here, and the good, polished Wam
pum, commonly called Manhattan Wampum, is wholly put out
of sight or exported, which tends to the express ruin and de
struction of this country; in order to provide in time therefor,
We do, therefore, for the public good, interdict and forbid all
persons of what state, quality, or condition soever they may
be, to receive in payment, or to pay out, any unpolished Wam
pum during the next Month of May, except at Fife for one
stiver, and that strung, and then, after that, six beads for one
stiver. Whosoever shall be found to have acted contrary
hereunto shall provisionally forfeit the Wampum which is paid
out and 10 guilders for the poor, and both payer and payee
are alike liable. The well-polished Wampum shall remain at
its price as before, to wit, Four for one stiver, provided it be
strung.

A stiver was one English penny.

THE INVOLUTION OF WAMPUM AS CURRENCY. 3

The next Act is in the form of a resolution relating to the
continuation of loose wampum as current.

RESOLUTION

of the Director and Council of New-Netherland respecting
loose Wampum. Passed 30 November, 1647. (N. Y.
Col. MSS. IV. 352.)

Resolved and concluded in Council at Fort Amsterdam, that,
until further order, the loose Wampum shall continue current
and in circulation ; only that in the meantime all imperfect,
broken, and unpierced beads can be picked out, which are de
clared bullion, and shall, meantime, be received at .the Com
pany's counting house as heretofore. Provided, that the com
pany, or any one on its part, shall, in return, be at liberty to
trade therewith among the merchants or other inhabitants, or
in larger parcels as may be agreed upon and stipulated by any
individual, or on behalf of the company.

These ordinances and resolutions tell their own story so
plainly that they are here set forth without comment. With
the notes as here reproduced, they have been published in a
volume entitled The Laws and Ordinances of New-Netherland,
(compiled by Dr. O'Callahan, Albany, N. Y., 1868.)

ORDINANCE

of the Director and Council of New-Netherland for the
better regulation of the Currency. Passed 30 May,
1650. ( N. Y. Col. MSS. XVI. 21.)

The Director General and Council of New-Netherland. To all

those who see these presents or hear them read, Greeting.
Whereas, We have by experience, and for a long time seen
the decline and daily depreciation of the loose Wampum

4 THE INVOLUTION OF WAMPUM AS CURRENCY.

among which are circulating many with holes and half finished ;
also some of Stone, Bone, Glass, Muscle-shells, Horn, yea, even
of Wood and Broken Beads, together with the manifold com
plaints of the Inhabitants that they cannot go to market with
such Wampum, nor obtain any commodities, not even a small
loaf of white bread or pot of Beer from the Traders, Bakers, or
Tapsters for loose Wampum, wherein, wishing to provide ac
cording to best knowledge for this time, we have for the pro
motion of trade and the general good of the People, resolved
and Concluded that from henceforward no more loose Wampum
shall be current or good pay unless it be strung on a cord, as has
been the common custom heretofore ; in order hereby to
prevent the further importation of all lump and unperforated
Wampum, and to establish some difference between the Com
mercial Wampum and strung Wampum, so as in future to
obviate all misunderstanding, the Hon'ble Director and Coun
cil aforesaid, Do Ordain that the Commercial shall pass and be
good pay as heretofore, to wit, Six White or Three Black for
one stiver; on the contrary, poor strung Wampum shall pass
Eight White and Four Black for one stiver. We order and
command every one hereby to regulate himself according to
the tenor hereof, and in case of a refusal to be deprived of their
trade and business, and the Fiscal is hereby ordered after pub
lication to cause this to be affixed and made known every
where that it concerns, also to use every effort that the same
be executed and obeyed here.

Thus done, resumed, and enacted in our Council in Fort
Amsterdam, this 3Oth May, 1650, in New-Netherland.

THE INVOLUTION OF WAMPUM AS CURRENCY. 5

ORDINANCE

of the Director and Council of New-Netherland further
regulating the currency. Passed 14 September, 1650.
(N. Y. Col. MSS. XVI, 22.)

The Director General and Council of New-Netherland : To all
those who hear, see, or read these presents. Greeting.

Whereas, On the daily complaints of the inhabitants we
experience that our previous Ordinance and Edict relative to
the poor strung Wampum, published under date 30 May A,
1650, for the accommodation and protection of the people is
not observed and obeyed according to our good intention and
meaning, but that, on the contrary, such pay even for small
items is rejected and refused by Shopkeepers, Brewers, Bakers,
Tapsters, Tradespeople, and Laboring men, to the great con
fusion and inconvenience of the Inhabitants in general, there
being, at present, no other currency whereby the Inhabitants
can procure from each other small articles of daily trade, for
the relief and protection of the Inhabitants, the Director and
Council do hereby Ordain and Command that, in conformity
to our previous Ordinance, the poor strung Wampum shall be
current and accepted by every one, without distinction and
exception for small and daily necessary commodities required
for housekeeping, as currency to the amount of twelve guilder
and under only, in poor strung Wampum ; of twelve to twenty-
four guilders, half and half ; that is to say, half poor strung
and half good strung Wampum ; of twenty guilders to fifty
guilders, one-third poor strung and two-thirds good strung
Wampum, and in larger sums according to the conditions
agreed upon between Buyer and Seller, and a penalty of six
guilders for the first time to be forfeited on refusal by the con-

6 THE INVOLUTION OF WAMPUM AS CURRENCY.

traveners thereof ; for the second time nine guilders, and for
the third time two pounds Flemish, and stoppage for his trade
and business, pursuant to our previous Edicts.

Thus done and enacted in Council by the Director and
Council, this 14 September, 1650, in New-Amsterdam.

ORDINANCE

of the Director and Council of New-Netherland, regulating
the Currency. Pass 3 January, 1657. (N. Y. Col. MSS.
383. XVI. 98.)

The Director General and Council of New-Netherland. To all
those ivho see or hear these Presents read, Greeting. Make
known.

Whereas, They, to their great regret, are by their own ex
perience daily informed, and by the manifold complaints of
Inhabitants and Strangers importuned, respecting the great,
excessive, and intolerable dearness of all sorts of necessary
commodities and household supplies, the prices of which are
enhanced from time to time, principally, among other causes,
in consequence of the high price of Beaver and other Peltries
in this country beyond the value, which, by reason of the great
abundance of Wampum, is advanced, to ten, eleven, and twelve
guilders for one Beaver; and Wampum being, for want of sil
ver and Gold coin, as yet the most general and common Cur
rency between Man and Man, Buyer and Seller, domestic
articles and daily necessaries are rated according to that price,
and become dearer, from time to time ; the rather, as not only
Merchants, but also, consequently, Shop keepers, Tradesmen,
Brewers, Bakers, Tapsters, and Grocers make a difference of
30, 40 a 50 per cent, when they sell their wares for Wampum

THE INVOLUTION OF WAMPUM AS CURRENCY. /

or for Beaver. This tends, then, so far to the serious damage,
distress, and loss of the common Mechanics, Brewers, Farmers,
and other good Inhabitants of this Province, that the Superior
and Inferior magistrates of this Province are blamed, abused,
and cursed by strangers and Inhabitants, and the country in
general receives a bad name, while some greedy people do not
hesitate to sell the most necessary eatables and drinkables,
according to their insatiable avarice, viz. : the can of vinegar at
1 8 a 20 stivers ; the can of oil at 4 a 5 guilders; the can of
French wine at 40 a 45 stivers ; the gill of brandy at 15 stivers,
and two quarts of home brewed Beer, far above its price, at
14 a 15 stivers, &c., which the greater number endeavor to ex
cuse on the ground that they lose a great deal in the counting
of the Wampum, that it is partly short and partly long ; that
they must give II a 12 and more guilders before they can con
vert the Wampum into Beaver.

The Director General and Council aforesaid, wishing, there
fore, to provide herein as much as lies in their power, have, for
the good and advantage of their inhabitants, after divers
serious consideration, propositions and debates held at various
times, not been able to discover any better expedient, than to
declare Wampum a commodity and merchandise in the matter
of commerce and wholesale trade ; to wit, only among those
who import it from abroad, or trade it in this Province, with
Indians for Furs; but inasmuch as, for want of Silver and Gold
coin or other pay, Wampum must, in small quantities, serve as
currency between Man and Man, Buyer and Seller, the Director
General and Council aforesaid, have determined, resolved, and
Ordained, as they do hereby resolve and Ordain to rate Wam
pum, and as far as possible to cause it to be rated at the value

THE INVOLUTION OF WAMPUM AS CURRENCY.

of Beaver, the Beaver being still reckoned, until further order
and advice from Patria, at eight guilders and no higher.

And in order to prevent in future the complaints of mis
counting of the Wampum, with regard to which no few mis
takes have been experienced, to the loss of the Honble Com
pany's Treasury, also, the taking out of short or long Wampum,
if it be but good, even and sell strung, the Director General
and Council further Ordain and command, that, from this time
forward, after the publication and posting hereof, Wampum
shall not be paid out or received, between Inhabitants and
Inhabitants of this province, even for merchandise or for con
tracts made before this in Wampum by the tale or stiver, but
only by a stamped measure, authorized to be made and
stamped for that purpose, by the Director General and Coun
cil, the [smallest of which measures shall be five stivers ; the
whole ten, and the double 20 stivers.

And if it should come to pass that the price of the purchased
or sold article should not amount to, or equal half the smallest
measure of 2^ stivers, the Director General and Council, in
order to prevent caviling and disputes, do order and command
that the Receiver or Payee, shall satisfy or make up the
smallest fraction under or over 2j stivers, by the tale ; each
White Wampum bead being reckoned at half a farthing and
each black bead at one farthing.

And in order that no one may plead ignorance hereof, the
Director General and Council order and command that these
presents shall be published, and, after publication, observed,
executed and obeyed, everywhere within this province of New-
Netherland, under a fine of 50 pounds Flemish for the first
time, and double for second time, to be forfeited by such as
shall be found, after the publication and posting hereof, to have
paid out or received any Wampum by the tale, or any other

THE INVOLUTION OF WAMPUM AS CURRENCY. 9

measure than that ordained and stamped by the Director Gen
eral and Council ; such fine to be applied as it ought.

Thus done in the Assembly of the Director General and
Council holden in Fort Amsterdam, in New-Netherland, the 3
of January, A. 1657.

The following is an extract of the dispatch of the Directors
at Amsterdam, on the subject of the above ordinance:

" We do not consider out of place the reasons you adduce in
support of the Edict you have drawn up on the subject of re
ducing the value of the Wampum, or circulating it by measure,
and therefore would be willing to confirm, in case the magis
tracy and some of the principal merchants there would be con
tent with it, whose advice on the subject can be received, and
with their consent if can be put in force there. To this end
we herewith send back the aforesaid Edict, after having made
a few alterations, our meaning being, in all events, that the
Wampum should not be rated or issued by us at any higher
value than in New England.

" And as we have observed that in similar Ordinances and
Edicts you simply use the name of the Incorporated West
Chamber of Amsterdam : We have, therefore, thought it neces
sary hereby to command you not to neglect to employ them
on all future occasions." (Directors to Stuyvesant and Coun
cil, 22, Dec., 1657. N. Y. Col. MSS. xii 69, Tr.)

10 THE INVOLUTION OF WAMPUM AS CURRENCY.

ORDINANCE

of the Director General and Council of New-Netherland
further regulating the Currency. Passed 29 Novem
ber, 1657. (N. Y. Col. MSS. xiv, 119.)

The Director General and Council of New-Netherland. To all
those who shall hear these present read, Greeting, Make
Known.

That Whereas, both by their own experience and by mani
fold complaints of Inhabitants and Strangers, they are suffi
ciently, to their sorrow, daily informed and importuned re
specting the great, excessive and intolerable high price of
necessary commodities and household articles, arising, among
other causes, principally from the high price, far beyond their
value, of Beaver and other Peltries in the country in conse
quence of the abundance of Wampum, which has run up to 10,

11 and 12 guilders for one Beaver. And Wampum being still,
for want of struck or stamped coin, the most General currency
between Man and Man and Buyer and Seller, the prices of
household commodities and common daily necessaries range
according to that rate, and are from time to time dearer, the
rather as 30, 40, yea, sometimes 50 per cent, difference is made
not only by the Merchants, Pastors and wholesale traders, but
also, consequently, by the Shopkeepers, Tradespeople, Brew
ers, Bakers, Tavernkeepers, Grocers and others, if they work
and sell goods for Beaver and Wampum. This, then, creates
considerable confusion on the one hand, and causes, on the
other, great burdens, loss and damages as well to the majority
of the Inhabitants, as to the Company and its servants, inso
much that, by reason of the aforesaid inordinate and excessive
price of necessaries, the Superior and Inferior Magistrates of

THE INVOLUTION OF WAMPUM AS CURRENCY. II

this Province are blamed and accused by Strangers and Resi
dents ; the Country in general has received a bad name, some
greedy people not hesitating to sell even the most necessary
supplies, articles of food and drink, according to their insatiable
covetousness, at tolerable prices for Wampum. * * *
Which high prices are generally excused on the ground that
30, 40, a 50 per cent, is lost on the Wampum before it can be
traded off for Beaver.

The Director General and Council aforesaid, wishing to pro
vide and introduce some better order herein, as far as possible,
for the advantage of all in general and in particular, have not
been able tc discover, after much serious consideration and ad
vice, even of the Lords Patroons themselves, any better expe
dient than to declare Wampun an absolute merchandise, to
buy, sell, and rebarter at wholesale, according to the value and
quality thereof. But, inasmuch as Wampum, for want of gold
and silver coin, as already stated, must still serve as small
change for daily necessaries between man and man, buyer and
seller, the Director General and Council have judged it neces
sary to reduce, at the General Counting House, the Wampum
due the company for rents or other outstanding debts to, and
also, consequently, to keep, receive and pay it out as Beaver
value, the Beaver being reckoned still, and until further ad
vised from Fatherland, at eight guilders ; therefore, fixing and
reducing the Wampum at the general Counting House, pro
visionally, from six to eight White for one stiver, at which rate
Wampum shall be received and paid out, after the publication
and posting hereof, at the general Counting House, without
any distinction of persons ; provided that the wares, labor or
services charged to the company shall be computed according
to the value so much lower, at least not higher, than the price
of Beaver. If, on the other hand, the Receivers are willing to

12 THE INVOLUTION OF WAMPUM AS CURRENCY.

continue the old rate, the Director General and Council resolve
and ordain that the company or its servants on its part, can
then agree respecting the quantity or portion of Wampum, as
it is ordinarily current.

Further, in order to cause the least disturbance and loss
among the Inhabitants, who may have in their possession a
large quantity of Wampum, and as Wampum is esteemed in the
matter of Commerce, an absolute commodity, as already stated,
the Director General and Council do not intend, by this reduc
tion of the Wampum at the General Counting House, any altera
tion or impairing of any private contracts, agreements, or sales
of merchandise heretofore made or hereafter to be made be
tween Man and Man, Buyer and Seller ; but in order to prevent
all exception and complaint that no notice or warning had
been given, which may be set up or pretended by one debtor
or another at the Company's County House, the Director Gen
eral and Council hereby give notice that, although the payment
at the Company's Counting House is made to the creditors in
manner as aforesaid, according to this reduction, immediately
after the publication hereof, the debtors to the Company's
Counting House may pay six White and three Black Beads
for one stiver, for the space of three consecutive months ; but
if they make no payment in that time, the Director General
and Council give notice and Ordain that after the expiration
of three months, all payments which must be made at the
Company's Counting House in Wampum, shall be made in
conformity to this enacted ordinance.

Thus done and published in Fort Amsterdam in New
Netherland, the 29 November, A. 1657.

An order in Council was issued Oct. 9, 1658, declaring that
Wampum, in settlements between Man and Man, shall pass at
eight White and four Black Beads for one stiver, on condition

THE INVOLUTION OF WAMPUM AS CURRENCY. 13

that six weeks be allowed to debtors to pay outstanding debts
which may and must be paid in Wampum ; but if such debts
are not satisfied within that time, then debtors shall pay, in
stead of six, Eight White, and in place of three Four Black
beads, for one stiver. (N. Y. Col MSS. VIII. 1002.)

ORDINANCE

of the Director General and Council of New-Netherland
making Wampum a legal tender in certain cases, and
fixing the price of bread and liquors. Passed n No
vember, 1658. (N. Y. Col. MSS. VIII, 1023.)

The Director General and Council of New- Nether land. To all
those who see these presents or hear them read. Greeting.
Make known.

Whereas, notwithstanding the former reduction of Wampum
at the General Counting House, from six to eight White, and
from Three to four Black (beads) for one stiver, they are still
informed, both by Remonstrance of the Burgomasters and
Schepens of this city, and by reports of others, of the high,
excessive, and intolerable dearness of needful commodities
and family necessaries, arising among other causes from the
abundance and uncurrent conditions of the Wampum, which
in barter for Beaver, has risen to 16 guilders and more for one
Beaver ; according to which rate, all household commodities
and common daily necessaries take their course, even to such
a degree, that a difference of 80, 90, yea, 100 per cent, is made
by Shopkeepers, Tradesmen, Brewers, Bakers, Tapsters and
Grocers, if they work and sell their wares for Beavers or Wam
pum, which has necessitated and induced the Director General

14 THE INVOLUTION OF WAMPUM AS CURRENCY.

and Council aforesaid, at the further request of the Burgo
masters and Schepens of this city, to allow Wampum to be
current, according to the above-mentioned reduction of the
Counting House, to wit: In place of 6, eight white, and in
place of three, four black for one stiver. But, whereas, from
past experience, it is not only to be feared, but may probably
follow, that, by this reduction, the complaints and dearness
will not be prevented, nor the disproportion between the pay
in Beaver or Wampum remedied, but on the contrary, it is to
be presumed, that the more beads the Traders receive for a
stiver, the greater length of hands and fathoms they will give
for a Beaver, and consequently, the dearness of wares and even
of the most necessary articles, such as Beer and Bread, will
continue and be exercised on the ground of the still too great
disproportion between the Wampum and Beaver.

In order to remedy and prevent this in future as much as
possible, the Director and Council cannot, as yet, discover any
better expedient or means, than again to declare Wampum, as
it has already been frequently declared, to wit, an absolute
article of Merchandise, to be, according to its value and quality
bought and sold, bartered and exchanged by measure or guil
der, as parties — buyer and seller — can agree ; and that pay
ment in Wampum above 24 guilders shall not be valid in law,
unless it appear otherwise to the Court, by written contract or
acknowledgment of parties.

But, inasmuch as Wampum, for want of a better Currency,
and as a means to procure family supplies for daily use, must
pass between man and man, buyer and seller, the Director
General and Council judge it necessary in future to reduce, not
Wampum, but the most necessary articles, such as Bread, Beer
and wine, and to raise or lower the prices of them according to
the value of Beavers as the general market rate shall require.

THE INVOLUTION OF WAMPUM AS CURRENCY. 15

Therefore, the Director General and Council do ordain and
command Bakers, Brewers, Tapsters, and others, who sell by
the small measure, not to sell or retail Bread, Beer, and Wine,
at a higher price than that to be fixed by the Director General
and Council themselves, or by the respective subaltern Magis
trates, each in his jurisdiction, with the knowledge of the
Director General and Council.

Wherefore, to prevent the altogether too great clamor and
complaint of dearness, and to enact some regulations with re
gard to the most necessary articles, such as Bread, Beer, and
wine, according to which others can in course of time be regu
lated and reduced, the Director General and Council have, after
communication with, and on the advice of, the Burgomaster of
this city, concluded, resolved, and Ordained, as they do hereby
Ordain, that Brewers, Tapsters, Bakers, also other Storekeepers
and Grocers, shall offer for sale to the purchaser the daily most
necessary commodities at three prices, to-wit, Silver money,
Beaver, or Wampum, as it is at present provisionally reduced
everywhere throughout this province, videlicet. Eight White
and four Black for one stiver.

According to which order the Brewer shall deliver the Tun
of Strong Beer a 10 guilders in Silver, according to the value
in Holland. The tun of Strong Beer at 15 guilders in Beaver;
the Beaver at 8 gl. The tun of Strong Beer at 22 guilders in
Wampum ; eight white and four black for one stiver.

The tun of small beer —

3 guilders in Silver.
4^ guilders in Beaver.
6 guilders in Wampum.

THE TAVERN KEEPER.
Half a gallon of Beer —

6 stivers in Silver.
9 stivers in Beaver.
12 stivers in Wampum.

l6 THE INVOLUTION OF WAMPUM AS CURRENCY.

A can of French wine —

a 18 stivers in Silver.

a 22 stivers in Beaver.

a 36 stivers in Wampum.
A can of Spanish wine —

a 24 stivers in Silver.

a 36 stivers in Wampum.

a 50 stivers in Wampum.
A gill of brandy —

a 5 stivers in Silver.

a 7 stivers in Beaver.

a 10 stivers in Wampum.

THE BAKERS.

A coarse Wheaten loaf, 8 Ibs. Weight a 7 stivers in Silver.
A coarse Wheaten loaf, 8 Ibs. weight a 10 stivers in Beaver.
A coarse Wheaten loaf, 8 Ibs. weight a 14 stivers in Wampum.
A'Rye loaf, 8 Ibs. weight a 6 stivers in Silver, a 9 stivers in Beaver.
A Rye loaf, 8 Ibs. weight a 12 stivers in Wampum.
A White loaf, 2 Ibs. in weight a 4 stivers in silver.
A White loaf, 2 Ibs. in weight a 6 stivers in Beaver.
A White loaf, 2 Ibs. in weight a 8 stivers in Wampum.

Thus done, resumed, and enacted at the Meeting of the
Director General and Council, holden in Fort Amsterdam, in
New Netherland, the II. November A. 1658.

P. Stuyvesant, Nicasius de Sille, La Montagne, Pieter,
Tonneman.

ORDINANCE

of the Director General and Council of New-Netherland
further regulating the Currency. Passed 28 December,
1662. (N. Y. Col. MSS. X. 299.)

Taking into consideration, on the one hand, the depreciation
and the present low price of Wampum, to the degree that 20,
yea even by some 24, guilders, are now ordinarily paid for one
Beaver, and, on the other hand, the Order and Instructions of
Messrs, the Directors, communicated in divers of their dis
patches, and especially in their Honors' letter of the 22d De-

THE INVOLUTION OF WAMPUM AS CURRENCY. I/

cember, 1659, to reduce the payment which is made here to
the Company's servants in Wampum or Beaver, to the value
of Holland money, the Director General and Council of New-
Netherland find themselves obliged, in order that the Com
pany's servants may receive in some degree an equivalent of
Holland money, again to reduce the Wampum, at the Com
pany's counting house, from 16 to 24 white, or 12 black (beads)
for one stiver, and to disburse it at that rate on the first of
January next, to the Company's servant's in payment of
monthly wages and Board money, and as regards Beaver, to
continue to pay it out, provisionally, until further order, at 7
guilders, in payment of Monthly wages and board money.

Done, Fort Amsterdam in New Netherland, the 28 Decem
ber, 1662, P. Stuyvesant, Nicasius de Sille. J. de Decker.

Note. — " The order which your Honors made in regard to the payment of
the Soldiers and other public servants in Wampum hath well pleased us, as it
tends to afford equal satisfaction to all. But as it still is not equivalent to
Holland money, we have resolved hereby to order and authorize your Honors
to reduce it to the aforesaid value, as we also, for said reasons, have provi
sionally reduced the Beaver from 8 to 7 guilders.

" From this particular reduction of the Wampum, a second general reduc
tion must necessarily follow, if the depreciation thereof is to be prevented.
This arises in consequence of the great importation of Wampum from New
England, which barters therewith, and carries out of the country not only the
best cargoes, sent hence, but also a large quantity of Beaver and other Peltries,
whereby the company is defrauded of its revenues, and the Merchants here of
good returns, while the Factors and Inhabitants there remain with chestful of
Wampum, which is a currency utterly valueless, except among New-Nether-
land Indians only." Directors to Stuyvesant and Council, N. Y. Col. MMs.
XIII. 57, 22 Dec. 1659.

Orders were sent in September, 1663, to pay the Beaver to
the Company's Servants for their wages, at six guilders each.

The use of the Wampum 'seems to have continued in this
Colony, notwithstanding the fact that it has ceased to be in
general use to a greater or less extent elsewhere. In 1650 it

1 8 THE INVOLUTION OF WAMPUM AS CURRENCY.

was refused for county tax in Massachusetts, and in 1661 was
declared to be legal tender no longer in that Colony. In 1662
there was a similar decree in Rhode Island, and, as we are told,
soon afterward in Connecticut.

Another singular fact relative to wampum existed in this
Colony, that the currency was not regulated by law, and the
amount of wampum required to make a stiver was left to be
determined by the parties concerned (Woodward on Wam
pum, Munsell, Albany, 1880), thus almost realizing " Diedrich
Knickerbocker's " statement that a Dutchman's hand was to be
regarded as weighing one pound and his foot two pounds in
buying furs from the Indians.

The latest recorded instance of the use of wampum as cur
rency was 1693, when the rate of ferriage from New York to
Brooklyn was fixed at eight stivers in wampum, or a silver two
pence.

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