He began by paying all the servants of the company and all the debts of government, in strings of wampum.

He sent emissaries to sweep the shores of Long Island, which was the Ophir of this modern Solomon, and abounded in shell-fish.

These were transported in loads to New Amsterdam, coined into Indian money, and launched into circulation.
And now for a time affairs went on swimmingly; money became as plentiful as in the modern days of paper currency, and, to use the popular phrase, "a wonderful impulse was given to public prosperity." Yankee traders poured into the province, buying everything they could lay their hands on, and paying the worthy Dutchmen their own price--in Indian money.

If the latter, however, attempted to pay the Yankees in the same coin for their tinware and wooden bowls the case was altered; nothing would do but Dutch guilders, and such-like "metallic currency." What was worse, the Yankees introduced an inferior kind of wampum, made of oyster shells, with which they deluged the province, carrying off all the silver and gold, the Dutch herrings and Dutch cheeses: thus early did the knowing men of the East manifest their skill in bargaining the New Amsterdammers out of the oyster, and leaving them the shell.[36] It was a long time before William the Testy was made sensible how completely his grand project of finance was turned against him by his eastern neighbors; nor would he probably have ever found it out had not tidings been brought him that the Yankees had made a descent upon Long Island, and had established a kind of mint at Oyster Bay, where they were coining up all the oyster banks.
Now this was making a vital attack upon the province in a double sense, financial and gastronomical.

Ever since the council dinner of Oloffe the Dreamer, at the founding of New Amsterdam, at which banquet the oyster figured so conspicuously, this divine shell-fish has been held in a kind of superstitious reverence at the Manhattoes; as witness the temples erected to its cult in every street and lane and alley.