Dutch merchants decided that they were giving too many glass beads for the furs, and that if all the merchants combined into one company they might not have to give so many. So they did combine, and called themselves the United New Netherland Company. It was in this way that the name New Netherland first appeared.
When the first ships of the new company reached the island, a house was built for the use of the fur-traders, just south of where the Bowling Green Park is. This structure was called Fort Manhattan. It was of wood, and did not take long to build because the traders did not intend to live in it a great while. They felt quite sure that all the furs would be collected in a few years, and that then the island would be abandoned. No one thought at that time that the little wooden stockade was the commencement of a great city.
But after a few years it was found that the new country was a much richer place than had been supposed. Shipload after shipload of otter and beaver skins were sent ac