Betcha y’all didn’t know 44

[953 nut 63,984]

February 13, 1866 Jesse James robs his first bank, stealing $15,000 from the Clay County Savings Association in Liberty, Missouri.

[WHX?? 54,551]

Lotta coin back then. 

[Achto 30,860]

$15,000 in 1886 is equivalent in purchasing power to approximately $517,216 in 2026,

[pfrederi 19,797]

Guess Willie Sutton was right

 

"I rob banks because that's where the money is"

[WHX?? 54,551]

8 minutes ago, Achto said:

approximately $517,216 in 2026,

I woulda thought twice that. Either way buy a few horses with that ...  1886 or 2026 ...  

Edited 7 hours ago by WHX??

[Handy Don 15,756]

And no FDIC to step in and cover the depositors’ losses.

The aftermath of a robbery in that era meant calling loans and mortgages and then paying out depositors at pennies on the dollar. Only a very few states had substantive banking regulations. 

[lynnmor 8,565]

4 hours ago, WHX?? said:

I woulda thought twice that. Either way buy a few horses with that ...  1886 or 2026 ...  

The value of $15000 in 1866 was the same in 1942 and the real inflation took place well after that.

[953 nut 63,984]

[Beap52 1,957]

We used to live about 15 miles from the "Jessie James Farm", a few miles north of Kansas City.   Years ago they would have outdoor plays there chronicling the James family.  If I remember, it didn't seem to be a large extravagant house. Jessie's dad was a Baptist preacher who had preached at the old church building just outside of Excelsior Springs, MO.  It was told that Jessie's mom's arm was damaged on some attack on the James  clan.  She would hold the crippled arm up when boarding the train and insisted on a free ride. 

 

It seems that$15,000 was a large amount for a bank to have on hand.  I'm thinking most of our local banks don't keep huge amounts of cash in them now a days. Probably had to do with the banking system back then when compared to now.