Happy 400th Birthday to New York City: Exploring Its Colonial Roots and Legacy
Happy 400th Birthday to New York City: Exploring Its Colonial Roots and Legacy
NYC Beginnings: A Questionable Land Deal
In the early 17th century Dutch traders landed on the island of Manhattan, and they had one primary objective: profit. As writer Brandon Gill notes, “New York City was founded by the Dutch and the Dutch didn’t give a d*mn about anything but making money, and the more money you made, the closer you were to God.”1 This was exemplified by the myth surrounding one of history's most famous land deals—the purchase of Manhattan from the Lenape.
The deal, worth around 60 guilders (often cited as the equivalent of $24), has long been criticized for centering around different understandings of land use and ownership —specifically, the Dutch concept of permanent ownership versus the Lenape’s perspective of land sharing. This story has become a symbolic part of New York’s origins and mythology, with the Dutch striking a supposedly savvy deal to obtain incredibly valuable land for virtually nothing, in what is often seen as “outsmarting” the Lenape. As writer Peter Quinn described, “the beginning of the city is a real estate deal, and if there is ever a motif that runs throughout the history of the city, it’s that.”2
A Different Kind of Colonial City: New York, Boston, and Philadelphia
While Boston and Philadelphia had religious roots—Boston as a Puritan and Philadelphia as a Quaker community—New York City was fundamentally secular. From its Dutch origins and even under the English, New York allowed greater freedom in matters of religion and ethnicity than most colonies of the time. Its diverse population included a range of settlers, from Jewish people and Catholics to others, creating a diversity that ultimately led to its economic strength. This diversity was unique; Boston often limited non-Puritan residents, and Philadelphia, though more tolerant, was still deeply rooted in Quaker values and not as welcoming to many immigrants.3 In fact, when Peter Stuyvesant attempted to reject Jewish settlers, he was overruled by the Dutch West India Company, which reminded him that New York was “a business colony, not a religious establishment.” 4
The geographical advantage of New York Harbor, that the Dutch and English realized, also has had a lasting legacy and continues to play a major role in New York City’s dominance. This deep, protected harbor, centrally positioned along the East Coast, allowed easy access to both Europe and the rest of America via the Hudson River, which connects to the Great Lakes. This ideal location established New York as a crucial transportation hub, fueling manufacturing growth and drawing waves of immigrants and businesses. As a result, New York quickly surpassed Boston and Philadelphia, growing into one of the largest and most influential cities in the world5
Colonial Legacy: How Wall Street Became A Worldwide Symbol of Capitalism
From its earliest days, New York played a pivotal role in the colonial economy. The names of its early leaders—such as Clinton and Stuyvesant—are still used in present day New York, reflecting a continuity from colonial roots. The founders left behind more than just place names; they left a legacy that would define the city. One of the largest and most influential symbols of this legacy is Wall Street.
Originally Wall Street was a barrier built by the Dutch to keep out Native Americans and other Europeans, it eventually became home to open-air markets in the 1700s, where goods were traded with everyone, and even slave auctions were held. Over time, this simple marketplace evolved into the New York Stock Exchange, now located at Wall and Broad Street. The building’s design, resembling a “Roman temple front with Corinthian columns,” symbolizes trade and industry rather than religious worship. 6Today, Wall Street has become an umbrella term for global capitalism and market economies, recognized worldwide.7 Wall Street's actual influence and symbolism can’t be underestimated. It serves as a powerful representation of the financial industry's impact on the economy, culture and world.
Enduring Themes: Commerce, Diversity, and Transformation
Historian Kenneth T. Jackson emphasizes the city’s pragmatic beginnings, remarking, “Unlike Boston or Philadelphia or many other places in the United States, New York was not founded by visionaries anxious to practice religious freedom. The Dutch came to New York to establish a trading post to make a buck or a guilder, and that acquisitiveness, that materialism, that search for success has dominated New York and characterized New York ever since.” 8This early focus on trade laid the groundwork for what would become a bustling hub of international commerce and diversity.
From its Dutch foundation to its role in the American Revolution and its current status as a global cultural and financial center, New York City’s imprint on America is profound. As writer John Steele Gordon observed, “Deep in the city’s soul is New Amsterdam, where modern capitalism was invented.”9 Understanding New York’s colonial past makes the city make sense and its journey mirrors that of the United States itself—a land built on ambition, money and diversity.
New York: A Documentary Film, Season 1, Episode 1, “The Country and the City (1609–1825),” directed by Ric Burns, aired September 8, 1999, on PBS, https://www.pbs.org/wnet/newyork/
New York: A Documentary Film, Season 1, Episode 1, “The Country and the City (1609–1825),” directed by Ric Burns, aired September 8, 1999, on PBS, https://www.pbs.org/wnet/newyork/.
Glaeser, Edward L. "Urban Colossus: Why Is New York America’s Largest City?" Economic Policy Review 11, no. 2 (2005): 7–24. https://www.newyorkfed.org/medialibrary/media/research/epr/05v11n2/0512glae.pdf.
New York: A Documentary Film, Season 1, Episode 1, “The Country and the City (1609–1825),” directed by Ric Burns, aired September 8, 1999, on PBS, https://www.pbs.org/wnet/newyork/.
Glaeser, Edward L. "Urban Colossus: Why Is New York America’s Largest City?" Economic Policy Review 11, no. 2 (2005): 7–24. https://www.newyorkfed.org/medialibrary/media/research/epr/05v11n2/0512glae.pdf.
Architectural Digest, "How NYC’s Wall Street Architecture Reflects the Power of Finance," YouTube video, 9:35, published June 29, 2023, https://www.youtube.com/watch?v=vBsiFbGPR5g.
"Wall Street," Investopedia, accessed October 26, 2024, https://www.investopedia.com/terms/w/wallstreet.asp.
New York: A Documentary Film, Season 1, Episode 1, “The Country and the City (1609–1825),” directed by Ric Burns, aired September 8, 1999, on PBS, https://www.pbs.org/wnet/newyork/.
New York: A Documentary Film, Season 1, Episode 1, “The Country and the City (1609–1825),” directed by Ric Burns, aired September 8, 1999, on PBS, https://www.pbs.org/wnet/newyork/.