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Patrick McNamara's avatar

How did they get so wealthy? I can't find how much $5,500 in 1863 would be in today's dollars, but if it were 1913, would be $169570 in 2023 dollars.

It's interesting too, that with the Civil War going on, they are worrying about bond interest paying out in 20 years!

[Inflation Calculator | Federal Reserve Bank of Minneapolis](https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator)

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Dan Allosso's avatar

Their cousin Roswell Ranney was even more successful. I am pretty sure the George Ranney family's money came from growing peppermint in Ashfield. Then several of them continued that in Michigan. Henry became a merchant and dealt in wholesale peppermint oil, and supplied Ashfield's peddlers with peppermint and other botanical oils and essences.

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Patrick McNamara's avatar

p.s. Found another inflator, from 1863, now worth $136,866. Guess a few Great Depressions in years between 1863 and 1913 had their effects. :)

[$5,500 in 1863 → 2024 | Inflation Calculator](https://www.in2013dollars.com/us/inflation/1863?amount=5500)

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