Nowegian Bank Note - Loan for Norwegian Immigrant to U.S. - 1913
The underclass citizens of Norway often had help from relatives in Norway or the United States to help pay for the Passange to the U.S. Saving up the equivalent of about 3 months' wages for an common laborer would have seemed like a daunting task.
Note Payable dated 29.05.1913 for Kr.300 (approximately US$ 50) that Ludvig Kristian Gjønvik received from Ludvik Troseth and Anna Haarstad, relatives in Trondhjem, who helped him. Ludvig purchased the steamship ticket from Trondhjem to Boston with the proceeds. The note was payable in 4 months (29.09.1913) with no stated interest. According to Arvid Gjønvik, the note was repaid as agreed.
$50.00 from 1913 is worth approxmately $1,079.91 in 2007 using the Consumer Price Index Samuel H. Williamson, "Five Ways to Compute the Relative Value of a U.S. Dollar Amount, 1790 to Present," MeasuringWorth, 2008.
Copy of front and back side (below, right) of note payable Spareskillingsbanken, Trondhjem, Norge. Below, Left is a photograph of the Troseths who advanced Ludvig the funds (signed for the bank loand) in order for him to immigrate to the United States.
