The well-known story of how Manhattan was sold to the Dutch for just 24 dollars is a fascinating blend of history and myth. In 1624, the Dutch West India Company sent settlers to explore and establish a foothold in what is now Manhattan. By 1626, Dutch official Peter Schaghen wrote about the purchase of Manhattan Island from the Lenape Native Americans for 60 guilders, equivalent to approximately 24 dollars at the time (around 700 dollars today). This moment marked the beginning of the Dutch colony of New Amsterdam, which would later become New York City.
The Dutch influence on the region's early development is evident in its architecture and place names, such as Brooklyn, Harlem, and Wall Street. Initially, the area was sparsely populated, but as the fur trade flourished and settlers from various European countries arrived, New Amsterdam became more diverse. By the mid-19th century, the population surged, and by 1910, Manhattan housed over two million people.
The transformation of New Amsterdam into New York occurred in 1664 when the English took control, renaming it in honor of the Duke of York. Despite the change in power, the Dutch left a lasting legacy in the city’s urban design, culture, and trade.
Today, Manhattan’s iconic financial district, Wall Street, stands where the Dutch once traded furs. This evolution from a small settlement purchased for a modest sum to one of the world’s most influential cities reflects both the city’s deep history and its dynamic growth over the centuries.
