In A Nutshell
In a single landmark real estate deal, Dutch settlers supposedly purchased the entire island of Manhattan for some worthless glass beads. But what actually happened in 1626? Dutch settlers bought the use of Manhattan in exchange for iron kettles, axes, knives, and cloth. And as it later turned out, the tribe who sold the land at such a deep discount were taking payment for lands which didn’t even belong to them.
The Whole Bushel
The story of the $24 Manhattan purchase is a myth which insinuates that the settlers, by virtue of being so darn clever, “deserved” the land. Of course, the valuation of anything at $24 should be immediately suspect as the dollar obviously didn’t exist in the 17th century. The idea that the goods were worth only $24 stems from a flawed currency conversion made by a 19th-century historian. And records from the time suggest it is actually the Dutch settlers who were tricked.
Letters from the period, detailing other Dutch purchases, make it clear what goods were typically exchanged for land in the American Northeast. The manufactured goods, while not extremely valuable to the Europeans, were obviously scarce in America and thus valuable to Native traders. In similar fashion, discarded beaver pelt clothing was garbage to Native Americans, yet European traders couldn’t get enough, because they used the fur to make stylish hats. Determining a trade’s winner and loser is really just a matter of perspective. “Glass beads” is a pernicious exaggeration of the idea that Manhattan was purchased for worthless goods.
Of course, the biggest problem with the Manhattan purchase isn’t the price: It’s the identity of the sellers. The Dutch conducted their business with the Canarsee tribe who were actually based out of what is now Brooklyn. However, we should be fair to perpetrators of the glass beads myth: The Canarsee probably would have taken anything in exchange for the use of Manhattan, as the island actually belonged to the Wappinger Confederacy, another group of Native Americans. As a result, the Dutch claim to Manhattan was later contested, and the Dutch compensated the rightful owners. Thus, the Dutch settlers actually paid for Manhattan twice.
Show Me The Proof
New York Immigrant Experience: A Guided Tour Through History, Randi Minetor
American Indian Chronology: Chronologies of the American Mosaic, Phillip White
Native Americans: A Thematic Unit on Converging Cultures