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
Many of the officers and directors of the Dutch West India Company were
Amsterdam merchants. Active, scheming, self-important men, they were
mighty in the money marts but were made use of, and looked down upon, by
the old Dutch aristocracy. Having amassed fortunes, these merchants
yearned to be the founders of great estates; to live as virtual princes
in the midst of wide possessions, even if these were still comparative
solitudes. This aspiration was mixed with the mercenary motive of
themselves owning the land from whence came the furs, pelts, timber and
the waters yielding the fishes.
One of these directors was Kiliaen van Rensselaer, an Amsterdam pearl
merchant. In 1630 his agents bought for him from the Indians a tract of
land twenty-four miles long and forty-eight broad on the west bank of
the Hudson. It comprised, it was estimated, seven hundred thousand acres
and included what are now the counties of Albany, Rensselaer, a part of
Columbia County and a strip of what is at present Massachusetts. And
what was the price paid for this vast estate? As the deeds showed, the
munificent consideration of "certain quantities of duffels, axes, knives
and wampum,"[3] which is equal to saying that the pearl merchant got it
for almost nothing. Two other directors--Godyn and Bloemart--became
owners of great feudal estates. One of these tracts, in what is now New
Jersey, extended sixteen miles both in length and breadth, forming a
square of sixty-four miles.[4]
So it was that these shrewd directors now combined a double advantage.
Their pride was satisfied with the absolute lordship of immense areas,
while the ownership of land gave them the manifold benefits and greater
profits of trading with the Indians at first hand. From a part of the
proceeds they later built manors which were contemplated as wonderful
and magnificent. Surrounded and served by their retainers, agents,
vassal tenants and slaves, they lived in princely and licentious style,
knowing no law in most matters except their unrestrained will. They
beheld themselves as ingenious and memorable founders of a potential
landed aristocracy whose possessions were more extended than that of
Europe. Wilderness much of it still was, but obviously the time was
coming when the population would be fairly abundant. The laws of entail
and primogeniture, then in full force, would operate to keep the estates
intact and gifted with inherent influence for generations.
Public-domain text, read in full here on John Shaqi.
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