Seasoned genealogists know certain federal census enumerations include columns that measure your ancestors' wealth. For example, this extract from the 1860 census of Campbell County, Virginia, shows my 4th great grandfather Richard Morgan owned real estate worth $12,610 and personal property valued at $53,355. So, his total reportable assets were $65,965.
Note, these figures were somewhat subjective and did not include other important assets like cash, receivables, stocks, bonds, etc.
But, they do serve as a handy way to determine relative wealth (pun intended). Scrolling thru a few pages, you can quickly see how your ancestors stacked up when compared to amounts reported by their neighbors.
You can also calculate the relative value of these assets in modern dollars. Several widgets are freely available online, just run a Google search. For this example, I used the CPI Inflation Calculator at this link. It reported Richard's reported assets in 1860 were worth a little more than $2 million in today's money. Not too shabby!
By 1870, though, Richard's reported asset value had dropped to $20,461, approximately $400,000 in modern currency.
Why the precipitous drop?
Simple answer: The Civil War.
More complicated answer: In 1860, "personal property" values included slaves. Fortunately, they were emancipated in 1863.
#52Ancestors
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