The Involution of Wampum As Currency the Story Told By the Colonial Ordinances

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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.

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