Resent posts at the Western & Atlantic R.R., North Branch

Thursday, February 13, 2014

In 2010, the relative worth of $1.00 from 1883 is:

$22.50using the Consumer Price Index
$20.50using the GDP deflator
$131.00using the unskilled wage
$232.00using the Production Worker Compensation
$211.00using the nominal GDP per capita
$1,200.00using the relative share of GDP

Data for consumer bundle only starts in 1900.
http://www.measuringworth.com/uscompare/relativevalue.php

  • Slavery in the United States was an institution that had a large impact on the economic, political and social fabric of the country. The average price of a slave in 1860 was $800 and the economic magnitude of that price in today's values ranges from $19,000 to $336,000, depending on the index used.

    In that year, there were an estimated four million slaves living in the South and it is estimated that their aggregate market value was over $3 billion then. That corresponds to $10 trillion today (as a share of GDP).


  • The Civil War was one of the most devastating events in the history of the United States. It lasted from 1861 to 1865 and has been estimated to have a direct cost of about $6.7 billion valued in 1860 dollars. If this number were evaluated in dollars of today using the GDP deflator it would be $160 billion, less than one-fourth of the current Department of Defense budget. This would be inappropriate, as would be using the wage or income indexes. The only measure that makes sense for an expenditure of this size is to use the share of GDP, as the war impacted the output of the entire country. Thus the relative value of $6.7 billion of 1860 would be $32.7 trillion today, or over 150% of our current GDP.

    The $6.7 billion does not take into account that the war disrupted the economy and had an impact of lower production into the future. Some economic historians have estimated this additional, or indirect cost, to be another $7.3 billion measured in 1860 dollars. This means the cost of the war (as a share of the output of the economy) was nearly $68 trillion as measured in current dollars.



YearBritish Official Price
(British pounds per fine ounce
end of year)
U.S. Official Price
(U.S. dollars per fine ounce
end of year)
New York Market Price
(U.S. dollars per fine ounce)
Gold/Silver Price Ratio
(ounces of silver
per ounce of gold)
London Market Price
(British £ [1718-1949] or
U.S. $ [1950-Present] per fine ounce)
18634.2520.6730.0215.37£ 4.24
18644.2520.6742.0315.37£ 4.24
18654.2520.6732.5215.44£ 4.24
18664.2520.6729.1315.43£ 4.24
18674.2520.6728.5715.57£ 4.24
18684.2520.6728.8815.59£ 4.24
18694.2520.6727.4915.60£ 4.24
18704.2520.6723.7515.57£ 4.24
18714.2520.6723.0915.57£ 4.24
18724.2520.6723.2415.63£ 4.24
18734.2520.6723.5215.93£ 4.24
18744.2520.6722.9916.16£ 4.24
18754.2520.6723.7516.64£ 4.24
18764.2520.6723.0517.75£ 4.24
18774.2520.6721.6617.20£ 4.24
18784.2520.6720.8417.92£ 4.24
18794.2520.6720.6718.39£ 4.24
18804.2520.6720.6718.05£ 4.24
18814.2520.6720.6718.25£ 4.24
18824.2520.6720.6718.20£ 4.24
18834.2520.6720.6718.64£ 4.24
18844.2520.6720.6718.61£ 4.24
18854.2520.6720.6719.41£ 4.24
18864.2520.6720.6720.78£ 4.24
18874.2520.6720.6721.10£ 4.24
18884.2520.6720.6722.00£ 4.24
18894.2520.6720.6722.10£ 4.24
18904.2520.6720.6719.75£ 4.24
18914.2520.6720.6720.92£ 4.25
18924.2520.6720.6723.72£ 4.25
18934.2520.6720.6726.49£ 4.25
18944.2520.6720.6732.56£ 4.24
18954.2520.6720.6731.60£ 4.24
18964.2520.6720.6730.59£ 4.25
18974.2520.6720.6734.20£ 4.25
18984.2520.6720.6735.03£ 4.25
18994.2520.6720.6734.36£ 4.24
19004.2520.6720.6733.33£ 4.25
19014.2520.6720.6734.68£ 4.25
19024.2520.6720.6739.15£ 4.24
19034.2520.6720.6738.10£ 4.25
19044.2520.6720.6735.70£ 4.25
19054.2520.6720.6733.87£ 4.24
19064.2520.6720.6730.54£ 4.25
19074.2520.6720.6731.24£ 4.25
19084.2520.6720.6738.64£ 4.25
19094.2520.6720.6739.74£ 4.24
19104.2520.6720.6738.22£ 4.24
19114.2520.6720.6738.33£ 4.24
19124.2520.6720.6733.62£ 4.24
19134.2520.6720.6734.19£ 4.24
19144.2520.6720.6737.37£ 4.24
19154.2520.6720.6740.48£ 4.24
19164.2520.6720.6730.78£ 4.24
19174.2520.6720.6724.61£ 4.24
19184.2520.6720.6721.00£ 4.24
19194.2520.6720.6718.44£ 4.50
19204.2520.6720.6720.28£ 5.65
19214.2520.6720.6732.76£ 5.35
19224.2520.6720.6730.43£ 4.67
19234.2520.6720.6731.69£ 4.51
19244.2520.6720.6730.80£ 4.69
19254.2520.6720.6729.78£ 4.27
19264.2520.6720.6733.11£ 4.25
19274.2520.6720.6736.47£ 4.25
19284.2520.6720.6735.34£ 4.25
19294.2520.6720.6738.78£ 4.25
19304.2520.6720.6753.74£ 4.25
19314.2520.6720.6771.25£ 4.63
19324.2520.6720.6773.29£ 5.90
19334.2520.6724.4469.83£ 6.24
19344.2535.0034.9472.36£ 6.88
19354.2535.0035.0054.19£ 7.11
19364.2535.0035.0077.09£ 7.01
19374.2535.0035.0077.44£ 7.04
19384.2535.0035.0080.39£ 7.13
19394.2535.0035.0088.84£ 7.72
19404.2535.0035.0099.76£ 8.40
19414.2535.0035.0099.73£ 8.40
19424.2535.0035.0090.57£ 8.40
19434.2535.0035.0077.67£ 8.40
19444.2535.0035.0077.67£ 8.40
19454.2535.0035.0067.40£ 8.40
1946 35.0035.0043.67£ 8.40
1947 35.0035.0048.73£ 8.40
1948 35.0035.0047.07£ 8.40
1949 35.0035.0048.61£ 8.40
1950 35.0035.0047.14$ 34.71
1951 35.0035.0039.12$ 34.71
1952 35.0035.0041.16$ 34.71
1953 35.0035.0041.04$ 34.71
1954 35.0035.0041.01$ 34.96
1955 35.0035.0039.24$ 35.01
1956 35.0035.0038.50$ 35.00
1957 35.0035.0038.50$ 34.95
1958 35.0035.0039.27$ 35.10
1959 35.0035.0038.34$ 35.09
1960 35.0035.0038.27$ 35.28
1961 35.0035.0037.82$ 35.15
1962 35.0035.0032.22$ 35.10
1963 35.0035.0027.34$ 35.09
1964 35.0035.0027.04$ 35.09
1965 35.0035.0027.04$ 35.13
1966 35.0035.0027.04$ 35.17
1967 35.0035.0022.56$ 35.19
1968 35.0039.2618.29$ 38.69
1969 35.0041.5123.16$ 41.09
1970 35.0036.4120.54$ 35.94
1971 35.0041.2526.66$ 40.80
1972 38.0058.6034.75$ 58.16
1973 42.2297.8138.21$ 97.32
1974 42.22159.7433.90$ 159.26
1975 42.22161.4936.51$ 161.02
1976 42.22125.3228.76$ 124.84
1977 42.22148.3132.05$ 147.71
1978 42.22193.5535.80$ 193.22
1979 42.22307.5027.69$ 306.68
1980 42.22612.5629.66$ 612.56
1981 42.22459.6443.65$ 460.03
1982 42.22375.9147.24$ 375.67
1983 42.22424.0037.03$ 424.35
1984 42.22360.6644.26$ 360.48
1985 42.22317.6651.68$ 317.28
1986 42.22368.2467.25$ 367.51
1987 42.22447.9563.84$ 446.47
1988 42.22438.3166.95$ 437.05
1989 42.22382.5869.49$ 381.43
1990 42.22384.9379.78$ 383.47
1991 42.22363.2989.83$ 362.18
1992 42.22344.9787.47$ 343.73
1993 42.22360.9183.85$ 359.77
1994 42.22385.4272.79$ 384.01
1995 42.22385.5074.78$ 384.16
1996 42.22389.0974.89$ 387.69
1997 42.22332.3967.91$ 331.10
1998 42.22295.2453.24$ 294.16
1999 42.22279.9153.26$ 278.64
2000 42.22280.1055.96$ 279.03
2001 42.22272.2261.95$ 271.04
2002 42.22311.3367.32$ 309.68
2003 42.22364.8074.22$ 363.32
2004 42.22410.5261.30$ 409.17
2005 42.22446.0060.70$ 444.45
2006 42.22606.0052.20$ 603.77
2007 42.22699.0051.91$ 695.39
2008 42.22874.0058.17$ 871.96
2009 42.22975.0066.27$ 972.35
2010 42.221,227.0060.64$ 1,224.53
2011 42.221,572.0044.75$ 1,571.52
2012 42.221,700.0053.58$ 1,668.98
2013 42.221,415.0059.31$ 1,411.23
2014 42.221,269.0066.38$ 1,266.40
2015 42.221,163.0073.98$ 1,160.06
2016 42.221,252.0072.96$ 1,250.74
2017 42.221,260.0073.76$ 1,257.12
2018 42.221,270.0080.77$ 1,268.49
2019 42.221,390.0085.92$ 1,392.60
2020 42.221,770.0086.14$ 1,769.64

Note: British official price is only available till 1945.

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