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Whereas the director-general and council of New Netherland, in balancing accounts, find themselves, on behalf of the Company and this country, troubled and burdened with debts from expenses incurred last [      ] on the South River^[1], although these debts can be paid from the income on duties, but because the director-general and council are [      ] destitute and under urgent need to stock provisions for the coming winter for the garrison and other officials of the Company, and thus to promote the welfare of this country and for the maintenance of the garrison without losing control of the aforesaid, the director- general and council have found it urgently necessary to have the largest creditors balance half of their credits against the duties and to issue a bond for the other half payable the following year with [      ] , or to be balanced against the duties, or otherwise to be balanced in the fatherland against the eight percent duty on Virginia tobacco. Thus done at the meeting of the director-general and council of New Netherland, 4 September 1652.

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References

Translation: Gehring, C., trans./ed., New York Historical Manuscripts: Dutch, Vol. 5, Council Minutes, 1652-1654 (Baltimore: Genealogical Publishing Co., Inc.: 1983).A complete copy of this publication is available on the New Netherland Institute website.