The office of mayor, an appointive, one-year position, is filled by lawyer James Duane, newly retired from Congress. He will be reappointed for the next four terms. In mid-March the Bank of New York is organized, opening for business early in June. And on October 5th, Dr. John Henry Livingston is appointed professor of theology by the Dutch Reformed Church Synod, establishing the first theological seminary in America. No longer do the masts of warships dominate the port of New York.
Commercial activity begins returning.
Immigration from Europe gets under way again. On February 22nd the Empress of China sails with a cargo of ginseng, seeking to open trade with China. And in March, a young trader arrives from Germany. His stock consists of seven flutes. He will soon be dealing in more than wind instruments.