The New Student's Reference Work/Wampum

Wampum (wŏm′pŭm), the name of Indian money, consisting of strings of shells and shell-beads, which were worn as ornaments. They were used mostly by the Algonquins, and were made on Long Island and around New York. The white wampum, called wampumpeag, was made from the conch-shell and the black or purple wampum or suckanhock from the hard-shell clam. The black was worth twice as much as the white. The beads were made by breaking the shells, rubbing the pieces smooth on a stone, and drilling holes in them so they could be strung. The French, Dutch and New England settlers made use of them, from four to six beads being worth a penny. A string was called a fathom, and was worth from five to ten shillings. A string of wampum was given with every article of a treaty, and a belt of wampum to bind the whole transaction. The belts were embroidered with colored beads, which formed a record of the event.