According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 3.08% per year. Prices in 2017 are 2392.0% higher than prices in 1911.
In other words, $3,000,000 in the year 1911 is equivalent to $74,760,557.07 in 2017, a difference of $71,760,557.07 over 106 years.
Inflation Data Source: The Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.