The young shipwreck survivor married a resident of the cove in 1800 and became known as "Peggy of the Cove" attracting visitors from around the bay who eventually named the village, Peggy's Cove, after her nickname.The village was formally founded in 1811 when the Province of Nova Scotia issued a land grant of more than 800 acres to six families of German descent. The settlers relied on fishing as the mainstay of their economy but also farmed where the soil was fertile. They used surrounding lands to pasture cattle. In the early 1900s the population peaked at about 300. The community supported a schoolhouse, church, general store, lobster cannery and boats of all sizes that were nestled in the Cove.Many artists and photographers flocked to Peggys Cove. As roads improved, the number of tourists increased. Today the population is smaller but Peggys Cove remains an active fishing village and a favourite tourist destination.