Discussion Economic Question: Can anyone help?

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#1
On another thread a comparison has arisen between the Louisiana Purchase for $15,000,000 in 1803 and not just the Gadsden Purchase but the entirety of what the US proposed to buy in 1853, i.e., 98,000 square miles of Mexican land for $50,000,000. The short question is this: What were $15,000,000 1803 dollars worth in 1853? More? Less? Same? Who can tell me?

James
 

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#2
On another thread a comparison has arisen between the Louisiana Purchase for $15,000,000 in 1803 and not just the Gadsden Purchase but the entirety of what the US proposed to buy in 1853, i.e., 98,000 square miles of Mexican land for $50,000,000. The short question is this: What were $15,000,000 1803 dollars worth in 1853? More? Less? Same? Who can tell me?

James
This is one site you can use: http://www.in2013dollars.com/1803-dollars-in-1853?amount=15000000
$15,000,000 in 1803 is equivalent in purchasing power to about $10,221,238.94 in 1853
However, there is no perfect system to arrive at the 'right' comparison. You'll get different amounts on different sites.
 
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#3
A dollar in the mid 19th century was worth about 20 in today’s world.

It’s rough and dirty, but it’ll give you perspective.
 
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#5
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#8
Well I just plugged in the numbers. I guess I took it as being reversed. But like I said, I don't think there is an exact science to this sort of thing.
I asked in a way to make sure the numbers were reported correctly. Of course the numbers you reported seem to have the dollar rising in value over the 50 years.
You are absolutely correct that there are no authoritative measures of the dollar's value over time.
 



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