First that all, go they have actually a dollar as we understand it? prior to the Civil battle the only money used was gold and silver coins described as specie. In 1862 chairman Lincoln authorized congress to print currency. Foreign coins were extensively circulated in the colonies. One of those was the Spanish dollar additionally known as pieces of eight. Silver and gold coins were exchanged by weight. People also bartered, trading goods and services for other goods and also services.
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Silver Eight Royals Coin the Ferdinand VII that Spain, 1821
Source of picture: through Coinman62 at English Wikipedia – transferred from en.wikipedia come Commons., windy Domain, https://commons.wikimedia.org/w/index.php?curid=11936261
For this example, we will certainly look only at the census year 1860. Utilizing the category of actual Estate and an individual Estate, we are able to calculation the an individual wealth of some of the beforehand citizens the Tyler.
The census taker was to questioning the respondent to summary the worth of the all their land and also houses wherever they might be located and whether or not they owed money top top them. The question of personal property was similar and contained all an individual wealth.
The very first example is George Washington Chilton (1828 – 1884) born in Kentucky, a lawyer, living in Tyler in 1860. The is detailed as having Real estate valued at $2,000 and personal Property at $3,500. In today’s dollars that would equate come $100,518.
Next a merchant, Tom Albertson (1832-1893), born in Norway who pertained to Tyler about 1856. He functioned with his father and also brothers together a baker and shoemaker. His actual Estate to be valued in ~ $2,000 and personal Property valued at $1,000. In today’s dollars that would equate come $86,158.
Finally, a farmer, William eco-friendly (1815-1879), born in phibìc Carolina, came to Tyler about 1850. The owned residential or commercial property on Old Bullard road and also was a commissioner because that the city. His real Estate was valued at $3,500 and personal Property in ~ $1,500. In today’s dollars that would equate come $143,597.
So, what go this mean? the is a method to look in ~ the relative net precious of a family. However what could they buy with those dollars? That might tell us what the dollars were worth.
Using one inflation calculator we view that the one dissension in 1860 is equivalent to $28.72 today.In 1860 land sold for $1-3 every acre. However then as today, it was all about location, location, location.How around coffee, a subject near and dear to me. In 1860 you could purchase roasted coffee for 23 cent per pound.Flour and also Corn meal for around 2 come 3 cent per pound.Horses $40-$100 depending on age and also conditionWagon/Buggy – $65-$75
Below is advertisement from the Tom Albertsen & Bro. Store:
Source: The Tyler Reporter. (Tyler, Tex.), Vol. 6, Ed. 1 Thursday, April 11, 1861, newspaper, April 11, 1861; Tyler Texas. (texashistory.unt.edu/ark:/67531/metapth181842/m1/3/?q=%20%22Albertsen%22: accessed might 20, 2018), college of north Texas Libraries, The Portal come Texas History, texashistory.unt.edu; crediting The Dolph Briscoe center for American History.
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