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insisted that the basis of future negotiations should recognize Long Island as belonging to Great Britain. He also hinted that the Duke of York intended to reduce, in time, the whole province of New Netherland—a declaration which was to prove true sooner than the Dutch Governor anticipated.

In September of the same year (1664), Colonel Nicholls anchored before New Amsterdam with a fleet and soldiers. His imperious message to Governor Stuyvesant, was: “I shall come with ships and soldiers, raise the white flag of peace at the fort, and then something may be considered.” The Dutch colony was entirely unprepared for such a warlike visit, and capitulated at eight o'clock on the morning of September 8th, 1664. Stuyvesant, at the head of the garrison, marched out of the fort with the honors of war, pursuant to the terms of the surrender. His soldiers were immediately led down the “Bever's Paatje," or Beaver Lane, to the shore of the North River, where they embarked for Holland. An English “corporal's guard” immediately entered and took possession of the fort, over which the English flag was at once hoisted. Its name, Fort Amsterdam, was then changed to “ Fort James," and New Amsterdam was henceforth known as “ NEW YORK." This was a violent and treacherous seizure of territory at a time of profound peace—a breach of private justice and public faith ; and by it, a great State had imposed on it a name which is unknown in history, save as it is connected with bigotry and tyranny, and which has ever been an enemy of political and religious liberty.*

Before following further the course of events, a rapid retrospect of the commercial prosperity of New Netherland seems desirable. At the period when Governor Stuyvesant's administration was so suddenly terminated by the arrival of the Duke of York's forces, the population of New Netherland was established at “full ten thousand.” When New Amsterdam was first surveyed, in 1656, it contained one hundred and twenty houses and one thousand souls, which increased to fifteen hund

* As the surrender of Fort Amsterdam involved the loss of the entire Dutch possessions in New Netherland, the conduct of Governor Stuyvesant, in not maintaining its defense, was severely criticised by his superiors in Holland. In his justification, he explained that the fort was encompassed only by a slight wall, two to three feet in thickness, backed by coarse gravel, not above eight, nine, and ten feet high, in some places; in others, higher, according to the rise and fall of the ground. It was for the most part crowded all around with buildings, and better adapted for a citadel than for defense against an open enemy. The houses were, in many places, higher than the walls and bastions, and rendered those wholly exposed. Most of the houses had cellars not eight rods distant from the wall of the fort; in some places, not two or three feet distant; and at one point scarce a rod from the wall; so that whoever should be master of the city, could readily approach with scaling-ladders from the adjacent houses, and mount the walls, which had neither a wet nor a dry ditch.- Valentine's Manual.

red in 1664. Not quite two hundred and fifty of these were male adults; and the rest, women, and children below eighteen years of age. The same city now numbers about a million of people ! New York, on an average, has about doubled its population every twentythree years. Be it remembered that trade and commerce became the great stimulus of population, and their regulation of the utmost importance. The damages incurred by the West India Company during1645–6, in Brazil, and estimated at one hundred tons of gold, rendered some measures necessary to retrieve its condition. Trade with that country was therefore opened in the year 1648 to the New Netherlanders, who were permitted to send thither their produce, and return with African slaves, whose subsequent exportation from the Dutch Province was forbidden. Four years afterward, the province obtained the privilege of trading to Africa for slaves and other articles. In the same year, the monopoly of the carrying trade between Holland and this country (before in the hands of the Amsterdam Chamber) was abolished ; “for the first time," private vessels were now entered at Amsterdam; and in 1659 the privilege of exporting produce to France, Spain, Italy, and the Caribbean Islands, was obtained. Thus, the markets of the world, except those of the East, were opened to New Netherland ships. From this regulation, however, furs alone were an exception, as these were to be sent exclusively to Amsterdam.

The duties were fixed by the tariff of 1648, at ten per cent. on imported, and fifteen upon exported goods; but some difference existed in favor of English colonial buttons, causing them first to be sent to New England, and thence imported into New Netherland at a low rate. To obviate this, in 1651 the duties on such goods were raised to sixteen per cent., tobacco excepted, its eight per cent. tax being taken off. In the year 1655, the duties on imports again were reduced to ten per cent., and in 1659, owing to the demand for lead to be used in window-frames, this article was placed on the free-list. As we have noticed, the industry of the Dutch colonists was early manifested in ship-building. At the close of Stuyvesant's administration, a number of distilleries, breweries, and potasheries, were in operation, with several manufactories of tiles, bricks, and earthenware. An attempt was also made, in 1657, to introduce the silk culture ; two years after, mulberry-trees were exported to Curacoa ; and, as before stated, the making of salt was attempted; but the inhabitants of Gravesend, claiming Coney Island under their patent, destroyed the houses and improvements, burnt the fences, and threatened to throw the workmen into the flames.

Although wampum or “zeawanhad become almost the exclusive currency of New Netherlands (1664), still, beaver remained the standard of value. During the years 1651-2, Director Stuyvesant tried to introduce a specie currency, and applied to Holland for twenty-five thousand guilders in Dutch shillings and four-penny pieces, but the Directors there disapproved of his project. The people were thus entirely dependent on wampum, as we are now upon “greenbacks,” and the value of wages, property, and every commodity, was, in consequence, seriously disturbed. So it is in this day, and ever will be, with an irredeemable currency, whether of clam-shells, thin paper, or anything else, not equal to specie. At first wampum passed at the rate of four black beads for one stiver; next, it was lowered to six, and in 1657 to eight, and then ordered to be considered a tender for gold and silver. To a similar level our wiseacre financiers would now reduce our paper-money. But Stuyvesant wisely objected, as it would bring the value of property to naught. In the year 1659, the white wampum was next reduced from twelve to sixteen, and the black from six to eight for a stiver. What was the result ? The holder was obliged to give more wampum for any article he purchased of the trader, who, in return, allowed the natives a large quantity of it for his beavers and skins; and, to use the plain record of the day, “ little or no benefit accrued.” Nominally, prices advanced, when beavers which had sold for twelve and fourteen (guilders) rose to twenty-two and twenty-four, bread from fourteen to twenty-two stivers-eight-pound loafs—beef nine to ten stivers per pound, pork fifteen to twenty stivers, shoes from three and a half guilders to twelve a pair, and wrought-iron from eighteen to twenty stivers the pound. Beavers and specie remained all the while of equal value ; but the difference between these and wampum was fifty per cent. The effect on wages was almost ruinous. An old record says: “The poor farmer, laborer, and public officer, being paid in seawan, are almost reduced to the necessity of living on alms."

Those in the employ of the Dutch Company asked that their salaries might be paid in beavers, but this was refused ; as well might public officers in our day desire to receive gold and silver for their services. This depreciation of the currency, and the consequent disturbance of prices, caused much popular clamor, and various expedients were adopted to amend the unfortunate state of things. The Directors of New Netherland would have the colonists consider wampum as “bullion,” but would only receive beavers in payment of duties and taxes. We adopt something of the same theory in our Custom-House payments. Governor Stuyvesant raised the value of specie in the country twenty to twentyfive per cent. “ to prevent its exportation,” and our Secretary of the Treasury has been striving, after a fashion, to imitate the now two-hundred-year time-honored financial example of the long-buried old Dutch Governor. Finally, however, the price of beaver in 1663 fell from eight guilders (specie) to four and a half, white wampum from sixteen to eight, black from eight to four for a stiver. What a fall! This was the state of the public finances when the English came in possession of New Netherland. Some persons are met with at the present time who fear a similar

financial crash sooner or later in our enlightened land with its hundreds of millions in paper-money operations and promises.

The public revenue in New Netherland embraced two descriptions, provincial and municipal: the former consisting of the export duty on furs, the impost on European goods, with the tenths of agricultural produce, butter, cheese, etc.; the latter of an excise duty on liquors and slaughtered cattle. In the year 1655, the duty on exported furs is stated at twenty-two thousand guilders, or eight thousand dollars. The expenses of the Government became very large, especially from the Indian wars, which also cut off the supplies of furs; so that by the close of Stuyvesant's administration, there was a deficit of fifty thousand florins, or twenty thousand dollars. The municipal revenue arising from the liquor excise was of two kinds, the tapsters and the burghers—the first paying a duty of four florins a ton on home-brewed, and six on foreign beer; eight florins a hogshead on. French; and four on Spanish wine, brandy, or other spirits. These rates were doubled in 1662. The income of New Amsterdam from these sources was estimated at twenty-five thousand guilders. The Company in Holland had now expended twelve tons of gold in the settlement of New Netherland over all the public receipts; and now (1664), when some return was expected for this large outlay, foreigners seized and possessed themselves of all the benefits resulting from such expenditures.

We again resume the thread of our narrative. The war which broke out in 1672 between the English and the Dutch, and which was chiefly carried on by the navies of the two powers, occasioned apprehensions for the safety of the Province of New York; and Governor Lovelace the successor of Nicholls, the first English Governor, made preparations for a demonstration of that character on the part of the Dutch. Nor were his fears unfounded, although, some months elapsing without any appearance of the enemy, he allowed himself to fall into a fatal sense of security, and accordingly disbanded the levies, while he himself departed on a visit to the Eastern colonies, leaving the fort in charge of Captain John Manning. The Dutch, however, were not asleep; nor had they relinquished their design. Determined to regain New Amsterdam, at all hazards, they fitted out a fleet of five ships, commanded by Admirals Benckes and Evertsen, with Captains Colve, Boes, and Van Zye. On the 29th of July, 1673, they appeared off Sandy Hook; and quietly sailing up the bay, and anchoring before Staten Island, soon appeared opposite the Battery. The fleet then opened a heavy cannonade upon the city, at the same time that Captain Colve, landing with six hundred men, drew up in order of battle on the Commons, ready to march into the city. At a given signal the men marched down Broadway, whereupon Captain Manning surrendered the fort, on condition that its garrison should march out with all the honors of war. This condition having been granted, the Dutch troops again possessed the fort and city. New York received the name

in Dutch shillings and four-penny pieces, but the Directors there disapproved of his project. The people were thus entirely dependent on wampum, as we are now upon “greenbacks,” and the value of wages, property, and every commodity, was, in consequence, seriously disturbed. So it is in this day, and ever will be, with an irredeemable currency, whether of clam-shells, thin paper, or anything else, not equal to specie. At first wampum passed at the rate of four black beads for one stiver; next, it was lowered to six, and in 1657 to eight, and then ordered to be considered a tender for gold and silver. To a similar level our wiseacre financiers would now reduce our paper-money. But Stuyvesant wisely objected, as it would bring the value of property to naught. In the year 1659, the white wampum was next reduced from twelve to sixteen, and the black from six to eight for a stiver. What was the result ? The holder was obliged to give more wampum for any article he purchased of the trader, who, in return, allowed the natives a large quantity of it for his beavers and skins; and, to use the plain record of the day, "little or no benefit accrued.” Nominally, prices advanced, when beavers which had sold for twelve and fourteen (guilders) rose to twenty-two and twenty-four, bread from fourteen to twenty-two stivers—eight-pound loafs—beef nine to ten stivers per pound, pork fifteen to twenty stivers, shoes from three and a half guilders to twelve a pair, and wrought-iron from eighteen to twenty stivers the pound. Beavers and specie remained all the while of equal value ; but the difference between these and wampum was fifty per cent. The effect on wages was almost ruinous. An old record says: “The poor farmer, laborer, and public officer, being paid in seawan, are almost reduced to the necessity of living on alms.”

Those in the employ of the Dutch Company asked that their salaries might be paid in beavers, but this was refused ; as well might public officers in our day desire to receive gold and silver for their services. This depreciation of the currency, and the consequent disturbance of prices, caused much popular clamor, and various expedients were adopted to amend the unfortunate state of things. The Directors of New Netherland would have the colonists consider wampum as “ bullion,” but would only receive beavers in payment of duties and taxes. We adopt something of the same theory in our Custom-House payments. Governor Stuyvesant raised the value of specie in the country twenty to twentyfive per cent. to prevent its exportation,” and our Secretary of the Treasury has been striving, after a fashion, to imitate the now two-hundred-year time-honored financial example of the long-buried old Dutch Governor. Finally, however, the price of beaver in 1663 fell from eight guilders (specie) to four and a half, white wampum from sixteen to eight, black from eight to four for a stiver. What a fall! This was the state of the public finances when the English came in possession of New Netherland. Some persons are met with at the present time who fear a similar

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