A permanent European presence in New Netherland began in 1624 with the founding of a Dutch fur trading settlement on Governors Island. In 1625 construction was started on a citadel and a Fort Amsterdam on Manhattan Island, later called New Amsterdam (Nieuw Amsterdam). The colony of New Amsterdam was centered at the site which would eventually become Lower Manhattan. The location of Dutch colonial Director-General Peter Minuit purchased the island of Manhattan from the Canarsie, a small band of the Lenape, in 1626 for a value of 60 guilders (about $1000 in 2006); a disproved legend says that Manhattan was purchased for $24 worth of glass beads.
In 1664, Peter Stuyvesant, the Director-General of the colony of New Netherland, surrendered New Amsterdam to the English without bloodshed. The English promptly renamed the fledgling city "New York" after the Duke of York (later King James II). At the end of the Second Anglo-Dutch War, the English gained New Amsterdam (New York) in North America in exchange for Dutch control of Run, an Indonesian island. Several intertribal wars among the Native Americans and some epidemics brought on by contact with the Europeans caused sizable population losses for the Lenape between the years 1660 and 1670. By 1700, the Lenape population had diminished to 200.
In 1702, the city lost 10% of its population to yellow fever. New York suffered seven major yellow fever epidemics from 1702 to 1800.
New York grew in importance as a trading port while under British rule in the
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