Janny Venema

The Dutch only knew the guilder (dollar) system. They stated that so many beads equals a stuiver (5 cent piece). A gulder was 20 stuivers. Sewant (wampum) was called lichtgeld (light money) I believe, I have to dig it up. This was worth less than a beaver for example. Eventually they came here to trade for beavers and these were also used as a means of payment. Beavers were equal to 8 guilders. 8 x 20 = 160 stuivers. With a string of sewant, I think it was 6 white for a stuiver and 3 purple for a stuiver. At a given moment there was an enormous supply, they found it on Long Island. There was then a gigantic amount available. What happens then? It becomes less valuable.

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