Monetary Conversion
The following table is a commodity price index to compare real money values
over time. The base year is 1860 (100). To convert 1860 dollars into 1999
dollars, for example, you would determine the ratio between 1999 dollars and
1860 dollars (1,997-to-100, or 19.97-to-1), and multiply the 1860 dollar amount
($500) by the ratio (19.97). Thus, $500 in 1860 dollars is approximately $9,985
in 1999 dollars ($500 x 19.97).
Note: Any conversion using this table is an approximation only. This
table provides only the central tendency in the movement of prices of all
commodities. The prices of some commodities have changed more substantially and
those of others have changed less than this index indicates.
Year:
|
Price Index:
|
1809
|
148
|
1810
|
148
|
1820
|
141
|
1830
|
111
|
1836
|
112
|
1837
|
115
|
1838
|
112
|
1839
|
112
|
1840
|
104
|
1841
|
105
|
1842
|
98
|
1843
|
89
|
1844
|
90
|
1845
|
91
|
1846
|
92
|
1847
|
99
|
1848
|
95
|
1849
|
92
|
1850
|
94
|
1851
|
92
|
1852
|
93
|
1853
|
93
|
1854
|
101
|
1855
|
104
|
1856
|
102
|
1857
|
105
|
1858
|
99
|
1859
|
100
|
1860
|
100
|
1861
|
106
|
1862
|
121
|
1863
|
151
|
1864
|
189
|
1865
|
196
|
1870
|
157
|
1880
|
123
|
1890
|
109
|
1900
|
101
|
1910
|
114
|
1920
|
240
|
1930
|
200
|
1940
|
168
|
1950
|
288
|
1960
|
354
|
1970
|
464
|
1980
|
985 |
| 1990 |
1,563 |
| 2000 |
2,060 |
| 2003 |
2,201 |
See John J. McCusker, "How Much Is That in Real Money? A Historical Price Index
for Use as a Deflator of Money Values in the Economy of the United States,"
Proceedings of the American Antiquarian Society 101, part 2 (1992):
297-373; John J. McCusker, How Much Is That in Real Money? A Historical
Price Index for Use as a Deflator of Money Values in the Economy of the United
States. 2nd rev. ed. Worcester, Massachusetts: American Antiquarian
Society, 2000; http://qrc.depaul.edu/Excel_Files/prices/McCusker.xls.