Prepaid Memorandum - Southampton to New York - 2 October 1897
Prepaid Memorandum Summary
- Date of Purchase / Voyage: 2 October 1897
- Steamship Line: American Line
- Steamship: SS St. Louis
- Route: Southampton to New York
- Ticket Type: Prepaid Memorandum
- Voyage Class: Second Cabin
- Name on Contract: Mr. J. L. Laplace
- Etnicity of Passenger(s): British
- Contract Terms: Limited - First part of round-trip ticket
- Cost of Ticket: $49.10 / $1,580.00 in 2020 USD
- Note: Passenger was on board the 2 October 1897 voyage of the Steamship St. Louis from Southampton to New York
This is a 1897 Memorandum (Ticket Receipt) for a Prepaid Second Cabin passage on the American Line Steamship St. Louis for Passenger R. L. Laplace. The Gjenvick-Gjønvik Archives also has the passenger list for the voyage this ticket was purchased for.
No. 60648 American Line Second Cabin -- Prepaid Memorandum To be kept by Purchaser.
Date issued : August 10 1897
Names of Passengers : J. L. Laplace (Note 1)
Amount of Ocean fare : $ 49.10 (Note 2)
Am' t of Inland fare: $
Total : $49.10
Handwritten Notation: Issues in connection with Eastbound Ticket # 61717
Brought by: Himself
/s/ Henry Birdrall
Should the passenger refuse to come out, within the specified time for which the Certificate is available, the Company will refund the amount paid, less 10 per cent, discount, on the production of this Memorandum, together with the corresponding Certificate of passage.
Money forwarded to INTERNATIONAL NAVIGATION COMPANY, 6 Bowling Green, New York, for the use of the passenger on arrival, will be delivered on application and identification.
187 West Street
Note 1: Passenger was on board the 2 October 1897 voyage of the Steamship St. Louis from Southampton to New York.
Relative Cost of Passage Ticket in Today's Currency Value
In 2020, the relative values of $49.10 from 1897 ranges from $1,350.00 to $62,900.00.
A simple Purchasing Power Calculator would say the relative value is $1,580.00. This answer is obtained by multiplying $49.10 by the percentage increase in the CPI from 1897 to 2020.
This may not be the best answer.
The best measure of the relative value over time depends on if you are interested in comparing the cost or value of a Commodity, Income or Wealth, or a Project.
If you want to compare the value of a $49.10 Commodity in 1897 there are three choices. In 2020 the relative:
- real price of that commodity is $1,580.00
- labor value of that commodity is $8,680.00 (using the unskilled wage) or $12,600.00 (using production worker compensation)
- income value of that commodity is $13,800.00
- economic share of that commodity is $62,900.00
If you want to compare the value of a $49.10 Income or Wealth, in 1897 there are four choices. In 2020 the relative:
- real wage or real wealth value of that income or wealth is $1,580.00
- relative labor earnings of that commodity are $8,680.00 (using the unskilled wage) or $12,600.00 (using production worker compensation)
- relative income value of that income or wealth is $13,800.00
- relative output value of that income or wealth is $62,900.00
If you want to compare the value of a $49.10 Project in 1897 there are three choices. In 2020 the relative:
- real cost of that project is $1,350.00
- labor cost of that project is $8,680.00 (using the unskilled wage) or $12,600.00 (using production worker compensation)
- relative cost of that project is $13,800.00
- economy cost of that project is $62,900.00
Source: www.measuringworth.com Samuel H. Williamson, "Seven Ways to Compute the Relative Value of a U.S. Dollar Amount, 1790 to present," MeasuringWorth, 2022.