Freetown was first settled by the English on April 2, 1659 on the banks of the Assonet River, when the areas of Assonet and Fall River were purchased for 20 coats, two rugs, two iron pots, two kettles, one little kettle, eight pairs of shoes, six pairs of stockings, one dozen hoes, one dozen hatchets, and two yards of broadcloth from the Wampanoag Indians in an exchange known as Ye Freemen's Purchase. Its population slowly grew, and it existed as a Proprietary settlement until it was officially incorporated in July 1683. It remained a part of Plymouth Colony until that colony merged with the Massachusetts Bay Colony in 1692. The town was the fifth municipal corporation established in Bristol County.