A FED THANKSGIVING

Originally Posted in 2017

If you needed proof of whether the Federal Reserve has achieved its “supposed” goal of price stability over time, just look at those prices from before the Federal Reserve was created versus the cost of a Thanksgiving feast today at a nice restaurant.

Via Jesse

Windsor Hotel, St. Paul, Minnesota, 1883

Plaza Hotel NYC 1899

Gettysburg Hotel, Gettysburg, Pennsylvania 1909

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26 Comments
Melty
Melty
November 23, 2023 9:03 am

It’s always interesting to read what people used to consider as upscale dining back in the day. Possum and some of the others listed like boiled tongue do not sound very appetizing these days.

Anonymous
Anonymous
November 23, 2023 9:15 am

50 cents is $ 10 to $ 12 bucks today in silver. Yes , markets are manipulated but still.

GNL
GNL
  Anonymous
November 23, 2023 10:27 am

Yep, I’d bet a “nice” restaurant on Thanksgiving would be around $100/person.

Anonymous
Anonymous
  GNL
November 23, 2023 12:07 pm
Anonymous
Anonymous
  Anonymous
November 23, 2023 11:43 am

10-12 bucks in silver… and 50 bucks in gold.

Anonymous
Anonymous
November 23, 2023 9:18 am

Real food too. No processed crap. Fats & meat & sugar & cream …. Oh My !
Really fat people were rare.

Anonymous
Anonymous
  Anonymous
November 23, 2023 12:20 pm

Real food too. No processed crap. 

Yeah not so sure farm foods were better “back then”.

They had some awful pesticides they used back then. Pesticides were that eras cause of polio.
Ask FDR. He was poisoned on the farm in the summer while fleeing the miasma of the cities. [as rich Catskillians are wont to do]

“LA [lead arsenate] was introduced in 1892 in Massachusetts for use against the gypsy moth. Two other arsenical pesticides (copper acetoarsenite, known as “Paris green,” and calcium arsenate) also were in use, although LA largely replaced them in the 1930s due to lower cost, greater efficacy, and lower phytotoxicity. Even though arsenic residue was recognized as a problem as early as 1919, LA was the most widely used pesticide in the nation—recommended by the USDA and applied to millions of acres of crops—until the late 1940s, when DDT (considered at the time to be safer and more effective) became available. LA continued to be used in some locations into the 1970s, and was ultimately banned in 1988.”

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1551991/

hardscrabble farmer
hardscrabble farmer
November 23, 2023 9:24 am

75 cents for a rack of lamb, who do they think they are?

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Gaping sphincter
Gaping sphincter
November 23, 2023 9:41 am

Yes but the average person made 500 to 1000 dollars a year. Also there was a lot less taxation at that time . There was also no food stamps , section 8 , foreign aid and no federal reserve .

MrLiberty
MrLiberty
November 23, 2023 9:45 am

In the words of the great Ron Paul (and all of his chanting supporters at his presidential campaign rallies – even at UC Berkeley) – END THE FED, END THE FED, END THE FED!!!!

Anonymous
Anonymous
November 23, 2023 9:48 am

I can’t believe they offered such large, diverse, complicated menus wow! Back then too. To anyone whoever worked in a commercial kitchen that’s daunting.

anon a moos
anon a moos
  Anonymous
November 23, 2023 9:51 am

Thems high falut’n grits. Us little folk get beans

GNL
GNL
  Anonymous
November 23, 2023 10:32 am

Yep. And back then, I’d assume, what made the meal so great is that people couldn’t get that wide of a variety of food even thought a years worth of meals. Even simple things like nuts and oranges were a delicacy.

Anonymous
Anonymous
  GNL
November 23, 2023 3:24 pm

BRIAN:
Larks’ tongues. Otters’ noses. Ocelot spleens.

REG:
Got any nuts?

BRIAN:
I haven’t got any nuts. Sorry. I’ve got wrens’ livers, badgers’ spleens–

REG:
No, no, no.

BRIAN:
Otters’ noses?

anon a moos
anon a moos
  Anonymous
November 23, 2023 3:28 pm

Whata bout SPAM?? Everyone likes spam. SPAM SPAM SPAM…. for every occasion too

B_MC
B_MC
November 23, 2023 10:21 am

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GNL
GNL
November 23, 2023 10:22 am

My mother inlaw is selling her home in NJ. Her and her husband paid $215,000 in 1998. She’ll be asking $799,000 now, in 2023. The home right now would make a great tear down and put up a Mcmansion for around $1,800,000. The house they bought in 1998 (the same house I’m talking about) is in much worse shape than the house she’s selling in 2023. Imagine that, the home is now 4 times as much and in even worse shape. That probably means the house went up around 5 times in 25 years.

I believe the saying…

“You’ll own nothing and be happy”

…is going to be true. Well, at least the part about owning nothing anyway.

Anonymous
Anonymous
  GNL
November 23, 2023 10:35 am

A friend just sold a two family house in suburban Boston . House was bought in the 50s for like 15k. House is run down with tenants renting now. He got 890k the 1st day he listed.

Gregabob
Gregabob
  Anonymous
November 23, 2023 11:17 am

What are the chances an agent of BlackRock, Vanguard or State Street made that offer?

Anonymous
Anonymous
November 23, 2023 11:42 am

for a good approximation, multiply all these prices by a hundred to get their modern cash equivalent. A hundred years ago a $20 piece was a shade under a full oune of gold. In some cases you’ll see that some items have indeed bcome more expensive. in many cases you’ll see far _lower_ prices, but the other thing youll notice is that in a hundred different ways we have been for fifty or sixty years, since the end of ww2 really, repeatedly substituting cheaper and cheaper imitations of everything, so much that most people dont even know what the genuine article is anymore- and the prices have gone down somewhat following the cheapness of the imitations but they’re passed off to most as if they replace the original. Much more impressive than specifically the prices, is the variety especially of different meat, available on demand at these establishments. Yes, they had chilled transport even in 1899, but still to have a dozen kinds of game meat available is something you wont find in most any restaurant today even if the prices followed the cash and were now 300 dollars a plate.

I lived for a long time in switzerland and the quality of things there has not degraded nearly as much as almost anywhere else – it’s one of the reasons things are so expensive there – when taken into perspective, they never really seemed to be so high, so much as one instead got the converse impression whenever one left switzerland, that everything is cheap garbage and who cares if the prices are low, none of it is edible. I travelled through the length of germany once by car and stopped midway for fuel and stopped into a supermarket thinking id pick up some snacks for the trip. while driving for several hours at a hundred miles an hour (in the middle lane, you dont dare go so slow in the left lane) was definitely a trip, the eye-opener was the supermarket. A half-acre of floor space stocked wall to wall, certainly prices that seemed absurdly low compared to die schoeni schweiz, and i left without finding anything i’d consider edible!

in most other places if youre not out in the country and well connected with the community around, you arent going to be eating decently, maayyybe unless you shell out an arm and a leg and even then you know youre only getting the okay stuff and not the good stuff.

Anonymous
Anonymous
November 23, 2023 12:23 pm

Mmm, shellfish…pork, chicken, dairy….and not a fridge in sight!

B_MC
B_MC
  Anonymous
November 23, 2023 4:00 pm

Iceboxes.

From Wiki….

Icebox used in cafés of Paris in the late 1800s

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By the 1840s, however, various companies including the Baldwin Refrigerator Company and the Ranney Refrigerator Company, and later Sears, started making home iceboxes commercially.[6] D. Eddy & Son of Boston is considered to be the first company to produce iceboxes in mass numbers.[7] As many Americans desired big iceboxes, some companies, such as the Boston Scientific Refrigerator Company, introduced ones which could hold up to 50 lbs. of ice.[8] In a 1907 survey of expenditures of New York City inhabitants, 81% of the families surveyed were found to possess “refrigerators” either in the form of ice stored in a tub or iceboxes.

Anonymous
Anonymous
  B_MC
November 25, 2023 5:14 am

Ice boxes worked great.
Where one had access to ice year round.
Probably not in Florida tho.

A cruel accountant
A cruel accountant
November 23, 2023 9:44 pm

Stability is never achievable!

Embrace the suck!

YourAverageJoe
YourAverageJoe
November 23, 2023 10:10 pm

I’m impressed that there was refrigeration back then to keep the fancy foods and ice cream safe to eat.