The coastland times. [volume] (Mnateo [i.e. Manteo], N.C.) 1947-1959, 1951-01-12
DUNGO
- OSTSCRIPTS
BY vANN LATHAM

One of the most important is
sues now being debated by the
economists in Washington and by
everybody on the main streets of
the U.S.A. is the high cost of
living. The boys in the city of our
government are talking very
strongly about putting price com
trolls on many of the items which
we buy in our daily living. The
brains and controllers of national
policy feel that such control is re-
quired because of the way prices
have risen in the past several
months, The man in the street
feels that something should be
done because each week it is be-
coming harder to make. the pay
check meet the cost of the things
we must buy. Is
If you think it's rough now, you
should ask your grandparents to
tell about the cost Of things back
in 1906. On the front cover of the
catalogue from which we quote
these prices, there appears the
following statement: "The % ex-
banded needs of eighty millions
of Americans with money to
spend have created a scarcity of
goods. But we anticipated just
such a condition and bought guam
titles of merchandise months be-
fore prices were. lifted to their
present height by6 consumption
outstriding production" Consider
this as "a similar reason for the
cause Of today's high prices as
you read on.
: Mems wool socks, which now
cost about 75c a pair, were quot
ed at $1.75 a dozen. Ladies ribbed
underwear was 1925 a dozen, long
sleeves, ankle length, and, now
sells for $1.70 a pair. A good dress
shirt at present levels would re-
duce your savings by about $3.50;
in those days, a dozen could be
bought for the same money. In
1906, a good ladies glove cost lie,
and mems furlined leather gloves
were 25c a pair.
~ A complete mans tworsted suit
was quoted as worth $3.50, but
was selling fore dollar less. 1t is
unnecessary to say that a mans
suit of comparable quality would
cost at least $4,000. To complete
the wardrobe, one could purchase
a hat for $1.0O and a fine pair Of
dress shoes for $500.
9 If the man of the house. desired
to do a little fixing up around the
house, a hammer would cost a.
bout 10c and a saw about the
same. If hunting was the pleas
ure, a good double-barrel was So
and 12-guage shells could be had
for about $1.6O per hundred. This
was also the day of the DC pack
of cigarettes and the good SIS Ha-
vana cigar. In case a day in the
goose blind was the gentleman's
pleasure, a hunting outfit, coat
and pants, could be purchased for
about $500. -sl.. 49,. 1888
For the lady of the house who
desired to make her own clothes,
the finest sewing machine cost on
ly about $4,000 The goods she
would use to clothe her family
were also reasonable. Cotton ma
terial was about 15c, and all wool
broadcloth was 65ci per yard. Oil
cooking stoves were about $1,000,
complete with oven; carpet
sweepers cost $500, and. the bet
ter clothes wringer only $3.50,
Brass bird cages were $3.50. "a
Even taking into consideration
that some of the above prices are
wholesale, it is easy to see that
the dollar was worth all of 100
pennies. In other words, compar-
ison of what the dollar would buy
then and the very little it will get
you now makes one wonder what
has happened. It is easy enough
to say that back in those days the
one bill was hard to get. A days
work probably Melted the working
man 75c. 1t is interesting the
changes that have occurred in the
value of our currency in the past
45 years. 1t only goes to show that
the paper money is no more than
it was meant to be-a medium of
exchange-which in itself is prac-
tically worthless.
If our economy should continue
in the next half century as it has
in the past 80 years, we wonder
what this dollar will buy in 1899.
Will we have to let the $1,000 rep
resent the $1.00 of the year 1906 +?
Or will we have to set a new fig
ure on the value Of the dollar bills
now in circulation? Perhaps some
economic action will take place
that will put the real value on our
money. The financial workings OF
u -