De  Peyster,  Abrabam,  was  one  of  the  most
eminent  merchants  and  citizens  of  New  York  in
the  days  of  early  English  rule  there.  He  was
born  iu  New  Amsterdam  (afterwards  New  York),
July  8, 1658 ;  died  there,  Aug.  10, 1728.  Between
1691  and  1695  he  was  mayor  of  the  city  of  New
York ;  was  first  assistant  justice  and  then  chief-
justice  of  New  York,  and  was  one  of  tJie  king's
council  under  Governor  Hyde  (afterwards  Lord
Corn  bury),  and  as  its  president  was  acting-gov-
ernor for  a  time  in  1701.  Mr.  De  Peyst«r  was
colonel  of  the  forces  in  New  York  and  treasurer
of  that  province  aud  New  Jersey.  He  was  a
personal  friend  and  correspondent  of  William
Penn.  Having  amassed  considerable  wealth,  he
built  a  fine  mansion,  which  stood,  until  1856,  in
Pearl  Street.  It  was  used  by  Washington  as  his
headquartei-s  for  a  while  in  1776.  His  father,
John,  was  born  in  Haerlem,  was  of  Huguenot
descent,  and  was  one  of  the  earlier  settlers  of
New  Amsterdam.
Depreciation  of  the  Continental  Paper-
money.  The  issne  of  bills  of  credit  had  been
of  vast  benefit  to  the  colouies  at  the  beginning
of  the  armed  contest  with  Great  Britain,  and
their  value  was  kept  up  remarkably  through  the
patriotism  of  the  people.  At  the  end  of  ei^ht«en
months  from  the  first  issue,  $20,000,000  bad  been
emitted,  besides  large  issues  by  the  several  col-;


DEEMEE


385


DE  SOTO


onid^,  iand  no  depreciation  bad  been  observed.
