The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-09-23

Experiments Of the New NefherIand-
ers I'm Dealing with CURRENCY.
BROOKLYN Eagle

Simon w Rosendale. ex-Attorney-generaI
or the State of New York has written a
pamphlet on the decadence Of wampum as
who think that silver should be freely
coined by the United States at the ratio
of Is to ]. Mr.: Rosendale's. pamphlet is
made up OF ordinances of the colony of
New Netherland between 164 and 1862
They form the record of the> failure to
force deprecated and unpopular currency
upon a community. The first ordinance,
passed in April, 1641, deals with a condi-
ton caused by the Hood OF poor wampum
from other colonies into the colony of
New Netherland. 1t begins by declaring
that. as the good or Manhattan wampum
had been crowded out of circulation by the
Inferior wampum which had been brought
into the colony from places where il was
81 per cent. cheaper. all persons were for
hidden to receive in payment or to pay
oqt any Of the poor wampum during the
month of May, except at the rate OF five
pieces Tor one silver, and after May six
beads for one silver The beads must be
strung. The good wampum was to remain
at four beads for one silver. The situation
seemed to be satisfactory for more than
six years, for no more ordinances bearing
upon the subject were passed till Novem-
Der. 1647 when loose wampum was declared
current with certain restrictions. On May
80. 1850. another ordinance was passed,
depreciation in value of the loose wampum
and the hardship which the people were
suffering because of it, II was ordered
that no more loose wampum should be ac-
wampum was fixed at six white or three
black beads for one silver while eight
white heads or four black ones of the
poor wampum were to be worth one sti-
ver The depreciation from 1641 was so per
cent. on the white beads This ordinance
did not accomplish the desired result. The
shopkeepers woulc not accept the poor
wampum even when IL was strung so in
September, 1850. an order was issued that
every one should accept the poor wampum
in payment for small and necessary COM
modities TO the amount OF twelve guiders,
or about $3.50. This did not relieve the
trouble but no new measures were taken
till January, 1851. when wampum was de-
clared a commodity among those who were
engaged in commerce and trade with the
Indians. while an attempt was made TO fix
its value by the value of beaver skins. The
ordinance Is preceded by lamentation
over the conduct OF the tradesmen who
made a difference of from 30 10 so per cent.
In their prices when they were paid in
beaver skins rather than in wampum. In
November, 1851 eight white beads and four
black ones were declared to be worth one
silver. But complaint still continued. The
people who had 10 use wampum were COM
PEELED TO pay exorbitant prices for what
they bought from the tradesmen. The ex-
pertinent of fixing the value OF wampum
bad not removed the evil of high prices.
In 1865 when the shop keepers charged
twice as much for their goods when paid in
wampum as when paid In beaver skins, the
Director general and Council Of the Colony
took IL upon themselves 10 fix the price at
which various commodities should be sold
III WdIHpuff, anu SiiNef. anu beaver SkinS-
For instance. they made the price of a
coarse wheaton loaf Z stivers In silver, 10
stivers In beaver skins and Ia stivers in
wampum. But wampum continued TO de-
preciate In value until in 1862 It took twen-
ty-four white and twelve black beads
10 be worth one silver Thus in a little
more than twenty years the colony In
which wampum was accepted as currency
had been Hooded with the stuff that il
had deprecated from four beads TO twen-
ty-four to make one silver or an English
penny.