What Did Early European Settlers Use As Currency With Native Americans?

What did the colonists use for money?

There were three general types of money in the Colonies of British America: the specie (coins), printed paper money and trade-based commodity money. Commodity money was used when cash (coins and paper money ) were scarce.

What did the English decide to use for currency in their trade with Native Americans during the 17th century?

The colonists were under the control of Great Britain, where the legal tender was both gold and silver, known as a bimetallic system. From 1643 to 1660, wampum — the shells prized by local Native American tribes — were legal tender in Massachusetts.

Is wampum a money?

Wampum was officially recognized as a currency by Massachusetts Bay Colony on October 18, 1650, and rates of exchange were formalized. Strings of eight, 24, 96 and 480 beads were valued, respectively, at one, three and 12 pence and five shillings.

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How was wampum used money?

In the early 17th century wampum came to be used as money in trade between whites and Indians because of a shortage of European currency. When machines were invented in the mid-18th century for mass production of wampum, the resulting inflation stopped its use as money in the eastern United States.

Did colonists use money?

When the colonies did not have metal to coin, they frequently used paper money. Most colonial notes were “bills of credit” notes meant to be redeemable in coin. Colonial paper money rarely lasted very long because the colonies generally issued too much of it and the resulting inflation made the bills worthless.

What was Britain’s most profitable colony?

The sugar colonies were Britain’s most valuable colonies. By the end of the eighteenth century, four million pounds came into Britain from its West Indian plantations, compared with one million from the rest of the world. India.

Why did Native Americans trade with Europeans?

Europeans needed workers to help build houses and clear fields. They soon realized that they could offer trade goods like tools and weapons to certain American Indian tribes that would bring them other Indians captured in tribal wars. These captured Indians were bought and sold as slaves.

What did colonizers do to indigenous peoples?

Colonizers impose their own cultural values, religions, and laws, make policies that do not favour the Indigenous Peoples. They seize land and control the access to resources and trade. In return, the traders offered useful materials and goods, such as horses, guns, metal knives, and kettles to the Indigenous Peoples.

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How did the arrival of European settlers affect Native American culture?

When the Europeans arrived they brought with them diseases unknown to the natives. The natives, having no immunity died from diseases that the Europeans thought of as commonplace. They also brought guns, alcohol and horses. The effect of these was to change the way of life for the Native Americans.

What are native American wampum for?

Wampum were used by the northeastern Native Americans as a form of gift exchange. European traders and politicians, using beads and trinkets, often exploited gift exchange to gain Native American favor or territory.

What did Indians smoke?

quadrivalvis (Indian tobacco) and N. attenuata (coyote tobacco). Some tribes were also known to smoke an entirely different kind of plant known as kinnikinnick or bearberry (which is now a popular ornamental plant for Northwest gardens).

What did natives call America?

Turtle Island is a name for the Earth or for North America, used by some Indigenous Peoples in the United States and First Nations people and by some Indigenous rights activists.

What did the Iroquois use wampum for?

The Iroquoian – and Algonquian-speaking peoples used wampum for decoration and adornment. It was also used to make woven belts, with the two colors acting as mnemomic devices commemorating agreements and events important in politics, history and religion.

Why is Wampum so important?

Function and Uses of Wampum Particular patterns symbolized events, alliances or kinship relations between different peoples, and wampum could be used to confirm relationships, propose marriage, atone for murder or ransom captives. Beads and belts also validated treaties and were used to recall oral tradition.

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What were Native American beads made of?

Beads were made from hand-ground and filled turquoise, coral, and shell. Carved wood, animal bones, claws, and teeth were made into beads, which were then sewn onto clothing, or strung into necklaces. Turquoise is one of the dominant materials of Southwestern Native American jewelry.

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