What little of the Dutch currency was in circulation was known as " Hollands. ' In contracts for sale and purchase of real estate and personal property, the distinctive sorts of payment were usually expressed ; and if not stated, it was understood that sewant was the consideration. There were certain sorts of contracts, however, such as ocean freights, in which, by the customs of merchants, it was implied that payment was to be made in beavers. On account of the debasement of the sewant currency, the Council ordered in May, 1650, that six white or three black sewants should pass for one stuyver (half a cent), and the base strung sewant, eight white or four black for one stuyver.

Legal tender legislation was not then .so well understood. Many people refused to accept the base sewant until, in the following September, the Council enacted " that the base strung sewant should be received by every one without distinction, in payment for small daily and necessary commodities in housekeeping, and that it should be current as follows: For twelve guilders or under, all may be paid in base strung sewant ; from twelve to twenty-four guilders, half base and half good strung sewant; and in larger sums agreeably to the agreement between buyer and seller." In 1658 the rate was again altered to eight white and four black of sewant for one stuyver. The colony was from a superabundant and depreciated which was intrinsically worthless. Beahad an actual value apart from that