seawant

This was nothing more nor less than strings of beads wrought out of clams, periwinkles, and other shell-fish, and called seawant or wampum.

Knickerbocker's History of New York, Complete Washington Irving 1821

He had old-fashioned notions in favor of gold and silver, which he considered the true standards of wealth and mediums of commerce, and one of his first edicts was that all duties to government should be paid in those precious metals, and that seawant, or wampum, should no longer be a legal tender.

Knickerbocker's History of New York, Complete Washington Irving 1821

This has, indeed, long since been insufferable; although it ought chiefly to be imputed to the imprudent penuriousness of our own merchants and inhabitants, who, it is to be hoped, shall, through the abolition of this seawant, become wiser and more prudent.

Knickerbocker's History of New York, Complete Washington Irving 1821

-- "We have been unable to render your inhabitants wiser, and prevent their being, further imposed upon, than to declare, absolutely and peremptorily, that henceforward seawant shall be bullion -- not longer admissable in trade, without any value, as it is indeed.

Knickerbocker's History of New York, Complete Washington Irving 1821