PACHESTE-L Archives

From: "Sandra Ferguson" <>
Subject: money values
Date: Sat, 7 Aug 1999 16:07:41 -0400

I got the article out of the trash, to try to explain it better than I did,
apparently, the last time, for I don' t think some of you understood what
it meant.
First, the figures were compiled , dealing with the salaries of certain
Presidents. This was done in answer to the complaints when it was
suggested that the President's salary be raised to , I think it was, 600,000
a year. So, they went back and checked what certain presidents were being
paid in specific years, and, taking into consideration what the Dollar would
be (and buy), IN THAT YEAR, came up with the figures given. Forget saying
you only had to pay 42..00 for a horse in 1873....using the figures given in
the article , in the year 1873, what cost you $1.00 that year would cost you
$13.30 in today's money. So, that horse that was $42.00 then would cost you
$42.00 X $13.30 or abt $560.00. So, if the President made $50,000 in
1873,that amount would have to be $665,000 in today's money.
I hope I did a better job this time.....remember how your grandmother use
to say "I can't believe you paid $1.00 a loaf for that bread...I remember
when it was only 15 cents"....but, upon questioning her, it turns out that
your grandfather only was making $35.oo a week, so that 15 cents was sure
worth more than it is today. Well, that's what this whole thing is all
about!
Sandra

This thread:

• money values by "Sandra Ferguson" <>