# \$58,000,000 in 1835 is worth \$1,581,864,318.18 in 2016

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## Value of \$58,000,000 from 1835 to 2016

\$58,000,000 in 1835 is equivalent in purchasing power to about \$1,581,864,318.18 in 2016, an increase of \$1,523,864,318.18 over 181 years. The dollar had an average inflation rate of 1.84% per year between 1835 and 2016, producing a cumulative price increase of 2,627.35%.

This means that prices in 2016 are 27.27 times higher than average prices since 1835, according to the Bureau of Labor Statistics consumer price index.

The inflation rate in 1835 was 2.33%. The inflation rate in 2016 was 1.26%. The 2016 inflation rate is lower compared to the average inflation rate of 2.53% per year between 2016 and 2022.

 Cumulative price change 2,627.35% Average inflation rate 1.84% Converted amount (\$58,000,000 base) \$1,581,864,318.18 Price difference (\$58,000,000 base) \$1,523,864,318.18 CPI in 1835 8.800 CPI in 2016 240.007 Inflation in 1835 2.33% Inflation in 2016 1.26% \$58,000,000 in 1835 \$1,581,864,318.18 in 2016

USD Inflation since 1635
Annual Rate, the Bureau of Labor Statistics CPI

## Buying power of \$58,000,000 in 1835

This chart shows a calculation of buying power equivalence for \$58,000,000 in 1835 (price index tracking began in 1635).

For example, if you started with \$58,000,000, you would need to end with \$1,581,864,318.18 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$58,000,000 is equivalent to \$1,581,864,318.18 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1835 dollars, the chart below shows how \$58,000,000 is worth less over 181 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1835-2016
Year Dollar Value Inflation Rate
1835 \$58,000,000.00 2.33%
1836 \$61,295,454.55 5.68%
1837 \$63,272,727.27 3.23%
1838 \$61,295,454.55 -3.12%
1839 \$61,295,454.55 0.00%
1840 \$57,340,909.09 -6.45%
1841 \$57,340,909.09 0.00%
1842 \$54,045,454.55 -5.75%
1843 \$48,772,727.27 -9.76%
1844 \$49,431,818.18 1.35%
1845 \$50,090,909.09 1.33%
1846 \$50,750,000.00 1.32%
1847 \$54,045,454.55 6.49%
1848 \$52,068,181.82 -3.66%
1849 \$50,750,000.00 -2.53%
1850 \$51,409,090.91 1.30%
1851 \$50,750,000.00 -1.28%
1852 \$50,750,000.00 0.00%
1853 \$50,750,000.00 0.00%
1854 \$55,363,636.36 9.09%
1855 \$57,340,909.09 3.57%
1856 \$56,022,727.27 -2.30%
1857 \$57,340,909.09 2.35%
1858 \$54,045,454.55 -5.75%
1859 \$54,704,545.45 1.22%
1860 \$54,704,545.45 0.00%
1861 \$58,000,000.00 6.02%
1862 \$66,568,181.82 14.77%
1863 \$83,045,454.55 24.75%
1864 \$103,477,272.73 24.60%
1865 \$107,431,818.18 3.82%
1866 \$104,795,454.55 -2.45%
1867 \$97,545,454.55 -6.92%
1868 \$93,590,909.09 -4.05%
1869 \$89,636,363.64 -4.23%
1870 \$86,340,909.09 -3.68%
1871 \$80,409,090.91 -6.87%
1872 \$80,409,090.91 0.00%
1873 \$79,090,909.09 -1.64%
1874 \$75,136,363.64 -5.00%
1875 \$72,500,000.00 -3.51%
1876 \$70,522,727.27 -2.73%
1877 \$69,204,545.45 -1.87%
1878 \$65,909,090.91 -4.76%
1879 \$65,909,090.91 0.00%
1880 \$67,227,272.73 2.00%
1881 \$67,227,272.73 0.00%
1882 \$67,227,272.73 0.00%
1883 \$66,568,181.82 -0.98%
1884 \$64,590,909.09 -2.97%
1885 \$63,931,818.18 -1.02%
1886 \$61,954,545.45 -3.09%
1887 \$62,613,636.36 1.06%
1888 \$62,613,636.36 0.00%
1889 \$60,636,363.64 -3.16%
1890 \$59,977,272.73 -1.09%
1891 \$59,977,272.73 0.00%
1892 \$59,977,272.73 0.00%
1893 \$59,318,181.82 -1.10%
1894 \$56,681,818.18 -4.44%
1895 \$55,363,636.36 -2.33%
1896 \$55,363,636.36 0.00%
1897 \$54,704,545.45 -1.19%
1898 \$54,704,545.45 0.00%
1899 \$54,704,545.45 0.00%
1900 \$55,363,636.36 1.20%
1901 \$56,022,727.27 1.19%
1902 \$56,681,818.18 1.18%
1903 \$58,000,000.00 2.33%
1904 \$58,659,090.91 1.14%
1905 \$58,000,000.00 -1.12%
1906 \$59,318,181.82 2.27%
1907 \$61,954,545.45 4.44%
1908 \$60,636,363.64 -2.13%
1909 \$59,977,272.73 -1.09%
1910 \$62,613,636.36 4.40%
1911 \$62,613,636.36 0.00%
1912 \$63,931,818.18 2.11%
1913 \$65,250,000.00 2.06%
1914 \$65,909,090.91 1.01%
1915 \$66,568,181.82 1.00%
1916 \$71,840,909.09 7.92%
1917 \$84,363,636.36 17.43%
1918 \$99,522,727.27 17.97%
1919 \$114,022,727.27 14.57%
1920 \$131,818,181.82 15.61%
1921 \$117,977,272.73 -10.50%
1922 \$110,727,272.73 -6.15%
1923 \$112,704,545.45 1.79%
1924 \$112,704,545.45 0.00%
1925 \$115,340,909.09 2.34%
1926 \$116,659,090.91 1.14%
1927 \$114,681,818.18 -1.69%
1928 \$112,704,545.45 -1.72%
1929 \$112,704,545.45 0.00%
1930 \$110,068,181.82 -2.34%
1931 \$100,181,818.18 -8.98%
1932 \$90,295,454.55 -9.87%
1933 \$85,681,818.18 -5.11%
1934 \$88,318,181.82 3.08%
1935 \$90,295,454.55 2.24%
1936 \$91,613,636.36 1.46%
1937 \$94,909,090.91 3.60%
1938 \$92,931,818.18 -2.08%
1939 \$91,613,636.36 -1.42%
1940 \$92,272,727.27 0.72%
1941 \$96,886,363.64 5.00%
1942 \$107,431,818.18 10.88%
1943 \$114,022,727.27 6.13%
1944 \$116,000,000.00 1.73%
1945 \$118,636,363.64 2.27%
1946 \$128,522,727.27 8.33%
1947 \$146,977,272.73 14.36%
1948 \$158,840,909.09 8.07%
1949 \$156,863,636.36 -1.24%
1950 \$158,840,909.09 1.26%
1951 \$171,363,636.36 7.88%
1952 \$174,659,090.91 1.92%
1953 \$175,977,272.73 0.75%
1954 \$177,295,454.55 0.75%
1955 \$176,636,363.64 -0.37%
1956 \$179,272,727.27 1.49%
1957 \$185,204,545.45 3.31%
1958 \$190,477,272.73 2.85%
1959 \$191,795,454.55 0.69%
1960 \$195,090,909.09 1.72%
1961 \$197,068,181.82 1.01%
1962 \$199,045,454.55 1.00%
1963 \$201,681,818.18 1.32%
1964 \$204,318,181.82 1.31%
1965 \$207,613,636.36 1.61%
1966 \$213,545,454.55 2.86%
1967 \$220,136,363.64 3.09%
1968 \$229,363,636.36 4.19%
1969 \$241,886,363.64 5.46%
1970 \$255,727,272.73 5.72%
1971 \$266,931,818.18 4.38%
1972 \$275,500,000.00 3.21%
1973 \$292,636,363.64 6.22%
1974 \$324,931,818.18 11.04%
1975 \$354,590,909.09 9.13%
1976 \$375,022,727.27 5.76%
1977 \$399,409,090.91 6.50%
1978 \$429,727,272.73 7.59%
1979 \$478,500,000.00 11.35%
1980 \$543,090,909.09 13.50%
1981 \$599,113,636.36 10.32%
1982 \$636,022,727.27 6.16%
1983 \$656,454,545.45 3.21%
1984 \$684,795,454.55 4.32%
1985 \$709,181,818.18 3.56%
1986 \$722,363,636.36 1.86%
1987 \$748,727,272.73 3.65%
1988 \$779,704,545.45 4.14%
1989 \$817,272,727.27 4.82%
1990 \$861,431,818.18 5.40%
1991 \$897,681,818.18 4.21%
1992 \$924,704,545.45 3.01%
1993 \$952,386,363.64 2.99%
1994 \$976,772,727.27 2.56%
1995 \$1,004,454,545.45 2.83%
1996 \$1,034,113,636.36 2.95%
1997 \$1,057,840,909.09 2.29%
1998 \$1,074,318,181.82 1.56%
1999 \$1,098,045,454.55 2.21%
2000 \$1,134,954,545.45 3.36%
2001 \$1,167,250,000.00 2.85%
2002 \$1,185,704,545.45 1.58%
2003 \$1,212,727,272.73 2.28%
2004 \$1,245,022,727.27 2.66%
2005 \$1,287,204,545.45 3.39%
2006 \$1,328,727,272.73 3.23%
2007 \$1,366,572,272.73 2.85%
2008 \$1,419,042,500.00 3.84%
2009 \$1,413,993,863.64 -0.36%
2010 \$1,437,187,272.73 1.64%
2011 \$1,482,552,500.00 3.16%
2012 \$1,513,233,181.82 2.07%
2013 \$1,535,398,409.09 1.46%
2014 \$1,560,305,454.55 1.62%
2015 \$1,562,157,500.00 0.12%
2016 \$1,581,864,318.18 1.26%
2017 \$1,615,563,636.36 2.13%
2018 \$1,655,834,090.91 2.49%
2019 \$1,685,015,340.91 1.76%
2020 \$1,705,804,166.67 1.23%
2021 \$1,785,939,734.85 4.70%
2022 \$1,837,558,636.36 2.89%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
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This conversion table shows various other 1835 amounts in 2016 dollars, based on the 2,627.35% change in prices:

Conversion: 1835 dollars in 2016
Initial value Equivalent value
\$1 dollar in 1835 \$27.27 dollars in 2016
\$5 dollars in 1835 \$136.37 dollars in 2016
\$10 dollars in 1835 \$272.74 dollars in 2016
\$50 dollars in 1835 \$1,363.68 dollars in 2016
\$100 dollars in 1835 \$2,727.35 dollars in 2016
\$500 dollars in 1835 \$13,636.76 dollars in 2016
\$1,000 dollars in 1835 \$27,273.52 dollars in 2016
\$5,000 dollars in 1835 \$136,367.61 dollars in 2016
\$10,000 dollars in 1835 \$272,735.23 dollars in 2016
\$50,000 dollars in 1835 \$1,363,676.14 dollars in 2016
\$100,000 dollars in 1835 \$2,727,352.27 dollars in 2016
\$500,000 dollars in 1835 \$13,636,761.36 dollars in 2016
\$1,000,000 dollars in 1835 \$27,273,522.73 dollars in 2016

## Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £58,000,000.00 in 1835 would be equivalent to £6,762,539,325.84 in 2016, an absolute change of £6,704,539,325.84 and a cumulative change of 11,559.55%.

Compare these numbers to the US's overall absolute change of \$1,523,864,318.18 and total percent change of 2,627.35%.

## Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes.

This chart shows the average rate of inflation for select CPI categories between 1835 and 2016.

Compare these values to the overall average of 1.84% per year:

Category Avg Inflation (%) Total Inflation (%) \$58,000,000 in 1835 → 2016
Food and beverages 4.07 137,738.29 79,946,209,036.81
Housing 4.31 209,056.75 121,310,915,103.93
Apparel 2.09 4,161.85 2,471,873,248.39
Transportation 3.29 34,721.04 20,196,201,289.42
Medical care 4.82 505,782.08 293,411,606,432.30
Recreation 1.11 631.70 424,386,187.96
Education and communication 2.14 4,486.38 2,660,101,811.46
Other goods and services 5.21 988,462.73 573,366,382,580.21

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1835. This table and charts use the earliest available data for each category.

## How to Calculate Inflation Rate for \$58,000,000, 1835 to 2016

Our calculations use the following inflation rate formula to calculate the change in value between 1835 and 2016:

CPI in 2016 CPI in 1835
×
1835 USD value
=
2016 USD value

Then plug in historical CPI values. The U.S. CPI was 8.8 in the year 1835 and 240.007 in 2016:

240.0078.8
×
\$58,000,000
=
\$1,581,864,318.18

\$58,000,000 in 1835 has the same "purchasing power" or "buying power" as \$1,581,864,318.18 in 2016.

To get the total inflation rate for the 181 years between 1835 and 2016, we use the following formula:

CPI in 2016 - CPI in 1835CPI in 1835
×
100
=
Cumulative inflation rate (181 years)

Plugging in the values to this equation, we get:

240.007 - 8.88.8
×
100
=
2,627%

## News headlines from 1835

Politics and news often influence economic performance. Here's what was happening at the time:

• Richard Lawrence fails in the first documented presidential assassination attempt after he misfired at President Andrew Jackson
• National debt of the United States is officially zero: the only time that it has been that way in history.
• Signing of the New Echota Treaty, followed by the conceding of all the Cherokee Indian lands east of the Mississippi River to the US

## Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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.

You may use the following MLA citation for this page: “\$58,000,000 in 1835 → 2016 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Jan. 2022, https://www.officialdata.org/us/inflation/1835?amount=58000000&endYear=2016.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

#### About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

 Cumulative price change 2,627.35% Average inflation rate 1.84% Converted amount (\$58,000,000 base) \$1,581,864,318.18 Price difference (\$58,000,000 base) \$1,523,864,318.18 CPI in 1835 8.800 CPI in 2016 240.007 Inflation in 1835 2.33% Inflation in 2016 1.26% \$58,000,000 in 1835 \$1,581,864,318.18 in 2016