History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial TimesMyers, Gustavus
History
History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial Times
Myers, Gustavus
United States -- Economic conditions; Wealth -- United States
The policy of the Dutch West India Company was to offer generous prizes
for peopling the land while simultaneously forbidding competition with
any of the numerous products or commodities dealt in by itself. This had
much to do with determining the basic character of the conspicuous
fortunes of a century and two centuries later. It followed that when
native industries were forbidden or their output monopolized not only by
the Dutch West India Company in New Netherlands, but by other companies
elsewhere in the colonies, that ownership of land became the mainstay of
large private fortunes with agriculture as an accompanying factor.
Subsequently the effects of this continuous policy were more fully seen
when England by law after law paralyzed or closed up many forms of
colonial manufacture. The feudal character of Dutch colonization, as
carried on by the Dutch West India Company, necessarily created great
landed estates, the value of which arose not so much from agriculture,
as was the case in Virginia, Maryland and later the Carolinas and
Georgia, but from the natural resources of the land. The superb
primitive timber brought colossal profits in export, and there were
also very valuable fishery rights where an estate bounded a shore or
river. The pristine rivers were filled with great shoals of fish, to
which the river fishing of the present day cannot be compared. As
settlement increased, immigration pressed over, and more and more ships
carried cargo to and fro, these estates became consecutively more
valuable.
To encourage colonization to its colonies still further, the States
General in 1635 passed a new decree. It repeated the feudal nature of
the rights granted and made strong additions.
Public-domain text, read in full here on John Shaqi.
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