May 24: 100 Billion for New York

On this day in history...

English Parliament in 1689 passes the Act of Toleration, Catholics and Dissenters are not included. In 1844 Morse sends and receives the message "What hath God wrought" while demonstrating the telegraph. The Brooklyn Bridge opens in 1883.


Also On This Day...

legend has it that in 1626 Peter Minuit bought Manhattan for $24. Some tales hold that the traded goods may have represented a "high technology transfer". Some contend that a local tribe made the deal but others contend that a tribe that was passing by made the deal.

But taking the amount at face value and allowing for six percent interest the purchase would have accumulated to over $100 billion today.