New York

The region was inhabited by about 5,000 Lenape Native Americans at the time of its European discovery in 1524 by Giovanni da Verrazzano, an Italian explorer in the service of the French crown, who called it "Nouvelle Angoulême" (New Angoulême). European settlement began with the founding of a Dutch fur trading settlement, later called "Nieuw Amsterdam" (New Amsterdam), on the southern tip of Manhattan in 1614. Dutch colonial Director-General Peter Minuit purchased the island of Manhattan from the Lenape in 1626 for a value of 60 guilders (about $1000 in 2006); a legend, now disproved, says that Manhattan was purchased for $24 worth of glass beads In 1664, the English conquered the city and renamed it "New York" after the English Duke of York and Albany.