Use The National Archives’ converter to find out your ancestors’ buying power

On November 18, 1841, a warrant was issued for the arrest of an 18-year-old agricultural labourer from a large and very poor family in Occold in Suffolk, England. He was accused of “feloniously” stealing a box of money from the home of the parish overseer of the poor.

The alleged thief was George Gooderham, the eldest son of Zachariah Gooderham, an agricultural labourer, and his wife Mary Haddock, a washerwoman.

George was my great-great-grandfather, who eventually immigrated to Canada two decades later.

When George appeared before the Ipswich Sessions, he was charged with stealing £60 pounds in cash, promissory notes, and cheques, worth about $6,200 in Canadian currency today.

He was sentenced to serve 14 days of hard labour in the Ipswich County Gaol, and he served his time.

The money was later recovered, although I have yet to find records that indicate whether the money had been misplaced and then found, if George returned the money, or if someone else had been the thief.

What I can determine is what 60 pounds meant in real terms for the Gooderham family.

Currency converter
Using The National Archives’ currency converter, I converted the old money into current value. The years in the currency converter range from 1270 to 2017.

To convert the British pounds into Canadian dollars, I used another website I found by Googling currency converter.

Buying power
What is interesting for family historians is the buying power of £60 in 1840. The National Archives’ currency converter shows how many animals, stones of wool, or quarters of wheat George could have bought, or how much money he could have earned had he acquired a skill.

In George’s case, he was accused of stealing the equivalent of ten months’ worth of a skilled tradesman’s wages, which more than likely far exceeded what he earned working on a farm.

On a positive genealogical note, because George was arrested, I found a description of him in the Sessions records: “Labourer … Illiterate … Height 5′ 8-1/2″, complexion dark, hair dark brown, eyes hazel, visage round, scar on the thumb of left hand cut from a sickle. Wearing hat, coat, 2 waistcoats, breeches, gaiters, stockings, shoes, shirt and carrying handkerchief.”

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2 Responses to Use The National Archives’ converter to find out your ancestors’ buying power

  1. Ann Blake says:

    Very useful, Gail! Thanks for posting. Does anyone know if there’s an equivalent for Canadian costs? Students I am working with discovered that ‘child support’ allocated to a family c1850 = $3 per month. The students wondered what that would equate to in terms of purchasing power at the time.

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