USA HISTORY

Detailed explanation-1: -This letter from Peter Schaghen, written in 1626, makes the earliest known reference to the company’s purchase of Manhattan Island from the Lenape Indians for 60 guilders. Schaghen was the liaison between the Dutch government and the Dutch West India Company.

Detailed explanation-2: -A common account states that Minuit purchased Manhattan for $24 worth of trinkets. A letter written by Dutch merchant Peter Schaghen to directors of the Dutch East India Company stated that Manhattan was purchased for “60 guilders worth of trade", an amount worth  $1, 143 U.S. dollars as of 2020.

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: -In May of 1626, Dutch West India Company rep Peter Minuit met with local Lenape Native Americans to purchase the rights to the island of Manhattan for the value of 60 guilders.