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The director general and council of New Netherland, to all those who shall hear this read.

Let it be known that whereas, both by their own experience and by manifold complaints of inhabitants and strangers, they are sufficiently, to their sorrow, daily informed and importuned respecting the great, household articles, arising, among other causes, principally from the high price, far beyond their value, of beaver and other peltries in this country, in consequence of the abundance of sewant, which has run up to 10,11 and 12 guilders for one beaver. And sewant being still, for want of struck or stamped coin, the most general currency between man and man, and buyer and seller, the prices of household commodities and common daily necessaries range according to that rate, and are from time to time dearer, indeed, 30,40, sometimes 50 percent difference is made not only by the merchants, factors and wholesale traders, but also, consequently, by the shopkeepers, tradespeople, brewers, bakers, tavemkeepers, grocers and others if they work and sell goods beaver or sewant. This then, creates considerable confusion on the one hand, and on the other, great burdens, loss and damage as well to the majority of the inhabitants as to the company and its servants, insomuch that, by reason of the aforesaid inordinate and excessive prices of necessaries, the superior and inferior magistrates of this province are blamed and accused both by strangers and residents; the country in general has received a bad name, some greedy people not hesitating to sell even the most necessary supplies, articles of food and drink, according to their insatiable covetousness, at intolerable prices for sewant, namely:

A quart of poor vinegar at 24 stivers,
oil at 3 to 4 guilders,
A can of French wine at 40 to 45 stivers.
Two quarts of home brewed beer 12 stivers,
A tun of small beer at 8 guilders,
A tun of strong beer at 24 guilders,
A pair of coarse Faroese stockings at 4 guilders,
A pair of shoes at 6 to 7 guilders,
and all other necessaries in proportion. Which high prices are generally excused on the grounds that 30, 40 to 50 percent is lost on the sewant before it can be traded off for beaver.

The aforesaid director general and council, wishing to provide and to introduce some better order herein, as far as possible, for the advantage of all in general and in particular, have not been able to discover, after much serious consideration and advice, even of the lords patroons themselves, any better expedient than to declare sewant in trade an absolute merchandise, to buy, barter, sell and rebarter it at wholesale, according to the value and quality thereof. But inasmuch as sewant, for want of gold and silver coin, as already stated, must still serve as smaller change for daily necessaries between man and man, buyer and seller, the director general and council have judged it necessary to reduce, at the general office, the sewant due the company for rents or other outstanding debts; and also, consequently, to keep, receive and pay it out at beaver value, the beaver being reckoned still, and until further notice from the fatherland, at 8 guilders. Therefore, fixing and reducing the sewant at the general office, provisionally, from six to eight white ones for one stiver, and from three to four black ones for one stiver, at which rate sewant shall be received and paid out, after the publication and posting hereof, at the general office, without any distinction of persons; provided that the wares, labor or services charged to the company shall be computed according to the value so much lower, at least not higher, than the price of beaver. If, on the other hand, the receivers are willing to continue the old rate, the director general and council resolve and ordain that the company, or its servants on its part, can then agree respecting the quantity of portion of sewant, as it is ordinarily current.

Further, in order to cause the least disturbance and loss among the inhabitants, who may have in their possession a large quantity of sewant, and as sewant is esteemed, in the matter of commerce, an absolute commodity, as already stated, the director general and council do not intend, by this reduction of the sewant at the general office, any alteration or impairing of any private contracts, agreements or sales of merchandise heretofore made or hereafter to be made between man and man, buyer and seller; but in order to prevent all exception and complaint that no notice or warning had been given, which may be set up or pretended by one debtor or another at the Company’s office, the director general and council hereby give notice, that, although the payment at the company’s office is made to the creditors in manner as aforesaid, according to this reduction, immediately after the publication hereof, the debtors to the company’s office may pay six white and three black ones for one stiver, for the space of three consecutive months, but if they make no payment in that time, the director general and council give notice and ordain that after the expiration of three months, all payments which must be made at the company’s office in sewant, shall be in conformity to this enacted ordinance.

Thus done and published at Fort Amsterdam in New Netherland, the 29th of November 1657.^[1]

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References

Translation: Gehring, C., trans./ed., New Netherland Documents Series: Vol. 16, part 1, Laws and Writs of Appeal, 1647-1663 (Syracuse: 1991).A complete copy of this publication is available on the New Netherland Institute website.