USA HISTORY

Detailed explanation-1: -As part of their settlement of Manhattan, the Dutch purportedly purchased the island from the Native Americans for trade goods worth 60 guilders. More than two centuries later, using then-current exchange rates, a U.S. historian calculated that amount as $24, and the number stuck in the public’s mind.

Detailed explanation-2: -It extended from Albany, New York, in the north to Delaware in the south and encompassed parts of what are now the states of New York, New Jersey, Pennsylvania, Maryland, Connecticut, and Delaware. The Dutch claim to this territory derived from their sponsorship of Henry Hudson’s voyages of exploration.

Detailed explanation-3: -To legitimatize Dutch claims to New Amsterdam, Dutch governor Peter Minuit formally purchased Manhattan from the local tribe from which it derives it name in 1626. According to legend, the Manhattans–Indians of Algonquian linguistic stock–agreed to give up the island in exchange for trinkets valued at only $24.

Detailed explanation-4: -Shortly after setting up camp, Peter Minuit made one of the greatest real estate purchases in history. He traded trinkets (small ornaments, jewelry, etc.) with local Native Americans for Manhattan Island. The town that was established there was named New Amsterdam.

Detailed explanation-5: -Peter Minuit, Minuit also spelled Minnewit, (born c. 1580, Wesel, Kleve [Germany]-died June 1638, Caribbean Sea), Dutch colonial governor of New Amsterdam who is mainly remembered for his fabulous purchase of Manhattan Island (the nucleus of New York City) from the Indians for trade goods worth a mere 60 guilders.