So as you may see minuit got a great deal except that it seems like he may have bought it from the wrong tribe. The island of manhattan estimated then to contain 22000 acres of land was therefore purchased from the indians who received for that splendid tract the trifling sum of 60 guilders or 24 dollars.
On this day may 4 th in 1626 peter minuit buys manhattan for 24 worth of buttons and cloth from the native american tribe the canarsee.
Who bought manhattan island for 24 dollars. So its not really accurate to speak of 24 since the value of these goods was perhaps lower to the dutch settlers as it was to the lenape people. And as it later turned out the tribe who sold the land at such a deep discount were taking payment for lands which didnt. An often repeated story throughout history is that the dutch bought the island of manhattan from the native americans.
The purchase of manhattan island 1626 this letter from peter schaghen written in 1626 makes the earliest known reference to the companys purchase of manhattan island from the lenape. But what actually happened in 1626. In a single landmark real estate deal dutch settlers supposedly purchased the entire island of manhattan for some worthless glass beads.
Named after the canarsie indians it is the farthest point from manhattan in brooklyn. The name manhattan is derived from the term manna hata many hills. The dutch settlers bought manhattan for goods that were highly valued amongst the lenape natives.
The price paid was 24 worth of beads trinkets a jar of mayonnaise two pair of wooden clogs a loaf of wonder bread and a carton of quaker oats. Ocallaghan in turn got it from a letter written in 1626 by pieter schaghen the dutch colonys representative in amsterdam. Tomasseredaistock via getty images one of the most persistent myths in american history is that european explorers really got one over on the native americans by purchasing the entire island of.
As a followup to your discussion of whether or not peter minuit got a bargain when he paid only 24 worth of trinkets for manhattan there is one added factor. It is considered one of the biggest business mistakes in history. I grew up in the canarsie section of brooklyn new york.
Dutch settlers bought the use of manhattan in exchange for iron kettles axes knives and cloth.
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