What's A Dollar Worth?

          It takes a lot of today's dollars to buy the same things $1 would buy just a few years ago. That's the inflation factor.
            Research on how much a dollar of the 1860s would be worth today went to modern-day cyberspace. On the Internet was found link -- The Inflation Calculator -- through the U.S. Department of Commerce's web page dealing with inflation and cost-of-living statistics.
           Pre-1975 data are the Consumer Price Index statistics from Historical Statistics of the United States. All data since then are from the annual Statistical Abstracts of the United States.
           Sometimes the value of a dollar dropped. The dollar of 1876, when the first poor farm was established, was worth 82 cents in 1885 when the poor farm property was sold.
           The value of the 1876 dollar dropped even more -- by 1898 when the second county poor farm was established, the $1 of 1876 was worth 76 cents. The dollar of 1898 was worth $1.68 in 1941 when the second poor farm property was sold.

 

SOURCES of information for the Pope County Poor Farms story include:

>Pope County, Arkansas, Federal Census Records for 1870, 1880, 1900, 1910 and 1920.

>Pope County, Arkansas, County Court Records.

>Pope County, Arkansas, Deed Records.

>David Vance of Russellville, Pope County Historian.

>Russellville, Arkansas, Public Library --Historical Articles Files.


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