Extra Credit Questions

[LincolnMan]

Nope-not Seward.

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Roger: Yes you got it! John C. Fremont.

[Eva Elisabeth]

In case someone is still going for an "extra credit" try this little mind game I've just come across:

Lincoln's shot-through plug hat (incident at the Soldiers' home in 1864) had cost $ 8. If this refered to 1864 legal tender, as I assume, how much would it be in current dollar terms?

[RJNorton]

I'll guess 20 times and say $160?

[Eva Elisabeth]

Not bad, but not enough.

[RJNorton]

$233.11?

[Eva Elisabeth]

Almost in between: $207 if my source is right, which I assume. Thanks for taking part in guessing, Roger! (I think this question didn't scour as well...)

[RJNorton]

Eva, it was a great question! Here's how I arrived at that last guess. I went here and changed the $5 to $8 and it came up $233.11

The strange thing was if you change the year from 1860 to 1864 it came up $123.36

[Gene C]

Can you imagine what the hat with the bullet whole would be worth today?

[Eva Elisabeth]

I think I'd like like to have that...

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(04-24-2013 04:49 PM)RJNorton Wrote:  Eva, it was a great question! Here's how I arrived at that last guess. I went here and changed the $5 to $8 and it came up $233.11

The strange thing was if you change the year from 1860 to 1864 it came up $123.36

At present your link doesn't work on my smartphone, but my source is an article about the 1861 revenue act which declared $800 (minimum income for paying taxes then) as current $ 20700. But I wonder how much those $1500 Lincoln pages for his house would be nowadays ($ 38816 seems incredible, at most you get the roof for it)

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...payed for his house, sorry, this touchpad keyboard is definitely made for infants' fingers

[L Verge]

Somewhere on this great universe of Google is a site that converts dollar amounts in various years to the current U.S. dollar rate. I know that Rick Smith has used it. Joseph E. Smith, where art thou?

[Rick Smith]

Laurie,

Sorry to be so late in responding, as I was just now alerted to your call.

The site you want is called The Inflation Calculator.

http://www.westegg.com/inflation/

$100,000.00 in 1865 is equal to $1,478,690.56 in 2012.

The 2013 figures are not yet available on this site.

Rick

[L Verge]

Thank you, kind sir.

P.S. Are you regretting retiring from the guide force at Surratt House yet? We still have three Booth Tours to do if you are really missing them... For the benefit of others, Rick retired about ten days ago after serving over 15 years as a volunteer guide at the museum. He could always be counted on to get to the museum early in order to meet our tour buses that were chasing JWB. He is also the one who drove about 200 miles round trip several times a year to clear the path to and the site of the Garrett farm house. This is one old broad who seldom cries, but the tears welled up when he tendered his resignation.

[J. Beckert]

After spending some time with Rick when I was down there, I can understand how you must feel, Laurie. He is one of the finest men I've ever met. Who volunteers for anything for 15 years? That's quite a sacrifice and I'm sure he'll be almost impossible to replace. I'll join you in wishing this very fine man the best of luck.

(P.S. - My money says you'll see him before long!)

[Eva Elisabeth]

(04-24-2013 07:31 PM)Rick Smith Wrote:  Laurie,

Sorry to be so late in responding, as I was just now alerted to your call.

The site you want is called The Inflation Calculator.

http://www.westegg.com/inflation/

$100,000.00 in 1865 is equal to $1,478,690.56 in 2012.

The 2013 figures are not yet available on this site.

Rick

According to this it would nowadays be $201,48 for $8 in 1861 but $147,08 for the same in 1863. Roger, I'm sorry, your first guess came closer to the truth, I misconceived there wouldn't have been such a remarkable inflation rate (how silly of me with regard to the wartime). Well, to get myself out of it I'd say that Gene's answer was the most true one - the hat would be beyond price anyway. By the way, does it still exist somewere?

[RJNorton]

The hat he wore the night of the assassination is at the Smithsonian, and the Abraham Lincoln Presidential Library and Museum has a hat that may have have been worn during the Lincoln-Douglas debates. I do not know the whereabouts of this hat.