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15-Feb-2018 12:28

Manhattan is historically documented to have been purchased by Dutch colonists from Native Americans in 1626 for 60 guilders, which equals roughly US50 today.

A 1610 map depicts the name as Manna-hata, twice, on both the west and east sides of the Mauritius River (later named the Hudson River).

The figure of 60 guilders comes from a letter by a representative of the Dutch Estates General and member of the board of the Dutch West India Company, Pieter Janszoon Schagen, to the Estates General in November 1626.

Historians James and Michelle Nevius revisited the issue in 2014, suggesting that using the prices of beer and brandy as monetary equivalencies, the price Minuit paid would have the purchasing power of somewhere between ,600 and ,600 in current dollars.

The Continental Army was forced to abandon Manhattan after the Battle of Fort Washington on November 16, 1776.

The city, greatly damaged by the Great Fire of New York during the campaign, became the British military and political center of operations in North America for the remainder of the war.

The city's strong commercial ties to the southern United States existed for many reasons, including the industrial power of the Hudson River harbor, which allowed trade with stops such as the West Point Foundry, one of the great manufacturing operations in the early United States; and the city's Atlantic Ocean ports, rendering New York City the American powerhouse in terms of industrial trade between the northern and southern United States.From January 11, 1785, to the fall of 1788, New York City was the fifth of five capitals of the United States under the Articles of Confederation, with the Continental Congress meeting at New York City Hall (then at Fraunces Tavern).New York was the first capital under the newly enacted Constitution of the United States, from March 4, 1789, to August 12, 1790, at Federal Hall.The new European immigration brought further social upheaval.