The Economy in the Twenties. Family Gold in 1918 – First Hand Proof (Issue 210)

I’m one of those persons who collect things. I save magazines, books, documents, newspaper clippings, letters and all sorts of things going back almost 100 years ago.

Because my parents were very young when I was born, my grandparents were rather young and I had a total of fourteen aunts and uncles, growing up. Some were even younger than I was. Plus the fact I had great-grandparents still living in my early life. Therefore, many of my experiences growing up on a farm in Northeast Georgia were positive ones. And I still have boxes of mementoes from that era.

Currently there’s a great deal of interest in that era beginning n the earlier part of the twentieth century, particularly relating to life-styles, money, land, health, etc.

Just this past week, there was much on the news about the flu pandemic in 1918. I recall hearing my parents and grandparents talk about that period, and how sick they were, and how they managed to survive it.

Over the weekend I was going through boxes of papers and ran across, a “Suit for alimony document” relative to the divorce of my maternal great grandmother from my great grandfather who was a very wealthy man. I recall my mother talking about the hundreds of acres he owned  plus large amounts of gold.

This document begins by stating; “This contract made and entered into the 17th day of August, 1918, between Nancy J. Shields and John N. Shields, both of said county and parties to the above case.”

The interesting point to this legal contractual agreement made in 1918 is the fact my great grandmother, who came to live with us after her divorce was awarded, ten-thousand dollars in cash, and 150 acres of land. This means she received $10,000 in gold.

Does anyone out there know what the price of gold was in 1918 per ounce? I think it was $33.00 an ounce in the thirties when Roosevelt removed the gold backing from the dollar. If it was thirty-three dollars per ounce back there in 1918, ten thousand dollars in gold was no small chunk of change.

You see people back then did not openly discuss money like they do today. Those who had money were quite secretive about it and those who did not have it did not openly discuss it. What I recall growing up in the thirties is mostly based upon what I overheard my parents discussing.

The two things I so vividly recall was my mother talking about this two-cent penny she had, she considered very rare and valuable and the second thing was discussion about this very large walnut tree in the back-yard, and how valuable walnut wood was, because walnut was considered the aristocrat of wood.  There was talk about selling that walnut tree and how much money it would bring in.

I have written about growing up during the depression years and how my family had plenty of everything but money. They were very frugal and hardworking, and probably had more money than they let anyone know about.

If gold was $33.00 an ounce, or there about in 1918, that means one could buy approx 30 ounces for one-thousand dollars. Therefore ten thousand dollars in gold back then would be worth a whopping amount more in today’s market. Over $800.00 per ounce.

For those who keep comparing current events to the Great Depression of the thirties, there’s not much to compare. Back then, people valued ownership of land, because they knew how to make a living and survive off the land. Nowadays one is lucky to own a lot. The taxes on acreage are very high, compared to back then. The other disadvantage is most having no inkling of how to survive off the land. Only a few do.

The amount of land on the earth is the same as it was back then. The amount of Gold and Silver, mined and un-mined is the same as it was back then. So what has changed?  Our value System has changed.

In this connection there are a few smart economists who understand what is happening, plus a small number of ordinary people, knowledgeable, and recognize the truth about the future we face. The facts are not exclusive to a few, but available to anyone who desires to know.

As Dr. Phil says: “One can’t change that which they do not acknowledge.”

We are living in an era of plastic and paper.  Can’t make bullets out of paper to protect yourself and the time may come when one will be unable to exchange a piece of paper for a loaf of bread simply because throughout history, gold and silver has been the accepted medium of exchange. And there are no contradictions in the history of money. However periods when it was hoarded and taken out of circulation, for a period of time. When other materials were used and accepted as the medium of exchange, like now its plastic and paper manmade materials. Gold and silver are natural materials which come from the earth and cannot be manufactured by man.

Any natural metals have inherent value, like copper and iron. Look around, you may have items you can sell at scrap metal places. I found two old iron sewing machine bases plus two sets of copper napkin rings. I’m taking it to scrap metal.

Good luck turning your trash into cash.

Let Freedom Ring,

JUST ME
AC

EMAIL: annecleveland@bellsouth.net