Wampum was more than money. Apparently the patterns could convey meanings. By searching for "Anthropology Wampum"
I found a number of sites in which wampum belts recorded treaties.Here's a sample:
Captain Montour lighted the Pipe of peace left here by the Warriors of the Ottawas, handing it to the General and the other Gentlemen of the Army, and Indians, to smoke, then acquainted the Indians by whom the Pipe was left, and upon what Occasion, shewing them the Belts left at the same time.

The General then made the following speeches:

Brethren, Chiefs and Warriors of the several Nations present: As we are met in Council to renew and brighten the Chain of Friendship, with this String of Wampum I open your Ears that you may hear what I am going to say to you.

I found a very fine site about wampum.Only I'm shedding great big tears because it didn't say how the shells were drilled. I can't imagine how the Indians can have done it, since it must have antedated introduction of steel tool byh the English. It also mentions the Aptucxet Trading Post not far from where I used to live.
http://www.wampumworks.com/history.html

At least some of them used a pump drill, Dr. Bill. I found a picture of one that has a metal tip. I would imagine the Indians used either very hard wood, and/or possibly a type of point similar to an arrowhead, made for the purpose.
Warning--this is a commercial site. The pump drill is the third item down.
http://www.self-reliance.net/ogs4.html

Dear Jackie: I never heard the term "pump drill". There used to be on the market a gadget that had a shaft perhaps
3/4" in diameter with deeply cut helical grooves,with both right hand and left hand threads,with a chuck for a bit.
Pressing on handle at top made drill turn. My vision is not good enough to see how the pump drill in the picture worked,
nor how it could accurately drill very small holes, nor how the bit was constructed. Something just clicked in my senile cerebrum the-- word "Dazey" may be name of the gadget my father had when I was ten, and electric drills had not become available. Thanks for your superior search skills. Bill

I just went to AskJeeves, Dr. Bill. I couldn't see how the pump drill worked, either, but several sites mentioned it. Frankly it looked to me like the way used to start a fire with sticks of wood and a string. After an admittedly brief search, the only ref. I could find to a Dazey was a butter churn.

EDIT: check this out, Dr. Bill!
http://www.wmuma.com/tracker/skills/fire/pumpdrill/pumpdrillAA.html

Dear Jackie: Dazey was a company that made many things.
But the butter churn would not have needed to have a rotary motion of the shaft, though that mnight have enhanced its
efficiency. I use only Yahoo search, it seldom lets me down.