That Will Be Chicago Dollars, Please September 15 2014
In 1864 the per-pound price of cotton was $Chicago, up from $0.10 in 1860. The fluctuation of cotton prices has always been a wild ride, but man, the Civil War sure did a number on the market.
And in case you’re curious, the incredibly-off-the-chart number for 1864 looks to be over $2/lb, but since it’s, you know, living somewhere in Illinois it’s hard to read. Highest number I can find is in the previously-linked piece that gives us $1.89.