A Dollar Used to be worth something.
I found a relative value calculator online. I typed in $2.00 in 1913 money. compared to 2016 money.
I got 48$....
Another one I tried said this
- "In 2015, the relative value of $2.00 from 1913 ranges from $36.10 to $913.00. "
Then I found this.
Cost of things in 1900's
-Board at Clemson College for 40 weeks cost $59 (1896)
-A home on Flatbush Ave in Brooklyn, NY cost $7,000 to $12,000 (1901)
-One Oldsmobile cost $650 (1904)
-One pound of coffee cost $0.15
Cost of coffee in 2000
-One pound of coffee cost $3.54 (2000)
Folgers the cheap stuff is 6 dollars today other brands are over 30$
I have a feeling the inflation adjustments most people use don't take in to account quality.
You can compare the cost of a burger in 1913 to McDonald's crap. Or you could compare a burger from a farm down the road in 1913 to a family farm burger today. Inflation looks much worse with the latter more accurate comparison.
Source
Here is a look at the devaluation since the creation of the FED in 1913:
In just my lifetime according to the bank of Canada I have lost 2/3 of my purchasing power. Most currencies have a shelf life of about 40 years which is close to the average life span. If you were rich enough to have $100 in 1914 it would be like having $2116 in 2016!
In 1913 money minimum wage in 2016 would be a negative value per hour and it is. You can't keep up with costs on it or even close to it due to inflation and lack of cost of living raises for the middle class