Cost of Living at a Historic High
“Oh, Man – and Woman!” by Clare Briggs
April 3, 1920: Former bank executive Frank A. Vanderlip says the American economy is unsound. "Unrestrained extravagance is our national keynote, and the capital of the smaller capitalists, when it isn't dried up by tax, is being squandered in the purchase of unproductive things," he says.
|Dec. 10, 1919: The cost of living rises 1.3% in a month and is 131% of what it was before World War I. Adjusted for inflation, an item that cost $1 in 1919 would be $12.34 in 2008. |