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A Perspective on the Indian Who Sold Manhattan

It is often said that the Indian who sold Manhattan Island in 1626 for $24 was rooked by the white man. In fact he may have been an extremely sharp salesman. Had he put his $24 away at 6 per cent interest, compounded semi-annually, it would now be worth more than $50 billion, and with it his descendants could buy back much of the now-improved land.