The Dutch, recognizing the value of New England's fur market, forged long-term alliances with the Algonquians in 1613, ushering in permanent settlements. By 1621, the Dutch West India Company established itself in the Northeast. The Dutch West India Company established a foothold in the Northeast, initiating a lucrative trade in wampum—beads of significant cultural and economic importance to Native tribes across the Northeast. The wampum was primarily made by Long Island Native Americans. The Dutch would thus engage in a triangular trade: purchasing large quantities of wampum from Long Island, exchanging wampum for fur with inland tribes, and shipping the fur back to Europe. This triangular trade created peace amongst the Europeans and the Native Americans for decades.