# Manhattan ripoff **URL:** \ **Category:** Factual Questions\ **Created:** [January 28, 2001, 5:16am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093 "2001-01-28T05:16:04Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![The\_Flying\_Dutchman](https://avatars.discourse-cdn.com/v4/letter/t/9fc348/32.png) [@The\_Flying\_Dutchman](https://boards.straightdope.com/u/The_Flying_Dutchman)\ **Post date:** [January 28, 2001, 5:16am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/1 "2001-01-28T05:16:04Z")
A seminal moment in American history was the so called purchase of an island by the Dutch in 1626 from a tribe called the Manhattans reported for $24.00US . However, Britannica is more specific claiming the value of the goods traded was about 60 guilders, worth about one and a half pounds of silver. With the present day price for silver @ $4.80 per ounce, the price could more accurately be described as $86.40US today. My best information,(I wish I had better) leads me to believe Manhattan Island is approximately 26 square miles or 16,640 acres. That comes to\*\* 52 cents per acre.\*\* I seem to recall land prices for large tracts in the west in the 19th century for such a low price, albeit at times when the dollar was worth more. I’m trying to gain a better understanding as to was it really a major real estate ripoff? \*\* Is the Manhattan Tansfer the best real estate deal for the purchaser in the history of the US on the basis of price per acre, ignoring land use criteria for value?\*\* \*\*Manhattan, if this turns into a debate could you please move it over? 🙂 \*\* ---
**Author:** ![capybara](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/capybara/32/202_2.png) [@capybara](https://boards.straightdope.com/u/capybara)\ **Post date:** [January 28, 2001, 5:34am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/2 "2001-01-28T05:34:12Z")
Perhaps Seward’s Folly (Alaska) ranks up there. too (disregarding current rents, of course, in comparison to Manhattan). ---
**Author:** ![astro](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@astro](https://boards.straightdope.com/u/astro)\ **Post date:** [January 28, 2001, 5:37am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/3 "2001-01-28T05:37:35Z")
Sort of. IIRC there was a historical note that the Chief of the Canarsee Indians who “sold” it, was pleased that he got a lot of goodies for a piece of land that wasn’t even properly (in the context of tribal zoning) considered to be “his” territory. ---
**Author:** ![Patty\_O\_Furniture](https://avatars.discourse-cdn.com/v4/letter/p/96bed5/32.png) [@Patty\_O\_Furniture](https://boards.straightdope.com/u/Patty_O_Furniture)\ **Post date:** [January 28, 2001, 5:41am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/4 "2001-01-28T05:41:57Z")
> [@](#): > > _Originally posted by grienspace_: > > \*\*Manhattan, if this turns into a debate could you please move it over? 🙂 \*\* I just felt like pointing out that this essentially translates into “Manhattan, could you please do your job?” ---
**Author:** ![Wendell\_Wagner](https://avatars.discourse-cdn.com/v4/letter/w/8491ac/32.png) [@Wendell\_Wagner](https://boards.straightdope.com/u/Wendell_Wagner)\ **Post date:** [January 28, 2001, 5:54am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/5 "2001-01-28T05:54:57Z")
This issue has been addressed by Cecil in this column: [http://www.straightdope.com/classics/a3\_156.html](http://www.straightdope.com/classics/a3_156.html) He points out that by his calculation the Louisiana Purchase was a better deal than the purchase of Manhattan. He figures that you only need to assume a 5.3% annual inflation rate to show that the price paid for Manhattan, given inflation, is just about the price that the land in Manhattan is worth now. ---
**Author:** ![The\_Flying\_Dutchman](https://avatars.discourse-cdn.com/v4/letter/t/9fc348/32.png) [@The\_Flying\_Dutchman](https://boards.straightdope.com/u/The_Flying_Dutchman)\ **Post date:** [January 28, 2001, 6:26am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/6 "2001-01-28T06:26:55Z")
> [@](#): > > \*Originally posted by Wendell Wagner \* > \*\*This issue has been addressed by Cecil in this column: > > [http://www.straightdope.com/classics/a3\_156.html](http://www.straightdope.com/classics/a3_156.html) > > He points out that by his calculation the Louisiana Purchase was a better deal than the purchase of Manhattan. He figures that you only need to assume a 5.3% annual inflation rate to show that the price paid for Manhattan, given inflation, is just about the price that the land in Manhattan is worth now. \*\* Thanx for the link **Wendell** Is there a separate search engine for cecil’s columns? It’s somewhat embarrassing to ask a question that can be found in his columns. ---
**Author:** ![Dr.Lao](https://avatars.discourse-cdn.com/v4/letter/d/2bfe46/32.png) [@Dr.Lao](https://boards.straightdope.com/u/Dr.Lao)\ **Post date:** [January 28, 2001, 7:13am UTC](https://boards.straightdope.com/t/manhattan-ripoff/52093/7 "2001-01-28T07:13:56Z")
> [@](#): > > Is there a separate search engine for cecil’s columns? You bet. [The Straight Dope Archives](http://www.straightdope.com/columns/index.html) You can also get to this page by going to [straightdope.com](http://straightdope.com) and clicking on the archives link.