This was nothing more nor less than strings of beads wrought out of clams, periwinkles, and other shell-fish, and called seawant or wampum.

These had formed a native currency among the simple savages, who were content to take them of the Dutchmen in exchange for peltries.

In an unlucky moment, William the Testy, seeing this money of easy production, conceived the project of making it the current coin of the province.

It is true it had an intrinsic value among the Indians, who used it to ornament their robes and moccasins; but among the honest burghers it had no more intrinsic value than those rags which form the paper currency of modern days.

This consideration, however, had no weight with William Kieft.