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.
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)
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.
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)