This has had me confused for years now. I've been reading "Will You Miss Me When I'm Gone?" The Carter Family Biography.
Here's my question: It says Earnest Stoneman earned $3,600 in royalties in 1926. What does that mean in today's money?
Is there a chart that compares money in different years?
In this equation the amount of money made in 1927 would be mutiplied 20 times to equal what it is today; 1927 X 20= 2007 Would this be close to being right?
So Ralph Peer was making $250,000 in 1928 off his royalties alone. That's a boatload of cash but what does it mean today?