Money in the 1950s

 

My report is on money in the 1950s. In my report I will tell you about the history of money (how much things cost compared to today) how money has changed, how it was used and some interesting facts. I hope you like my report.

 

Things cost much less in the 1950s than they do today. And people earned less money at their jobs. Between the years of 1950-1959 things cost much less than they do today. Here are some examples:

You could by five candies for a penny.

A car cost $1 975. Now we pay over $30 000.

Gasoline cost 29 cents per gallon. Now we pay $3. 18 per gallon or 70 cents per litre.

A loaf of bread cost about 17 cents. We now pay about $2.00 per loaf.

A postage stamp would cost you about 3 cents in the 1950s. To buy a stamp now costs us 48 cents to mail a letter.

The average price for a gallon of milk was 92 cents. We now pay over $3.00.

 

Money from the 1950s looked very different than it does today. They did not have loonies or toonies. One and two dollars were paper money. In 1954 the look of our money changed. King George VI died. His daughter Elizabeth became Queen, and her picture was printed on all Canadian money. Dollar bills all had their own colour. ($1-green, $2- reddish brown, $5- blue, $10- purple, $20- olive green, $50- orange, $100- brown.)

 

On the front of each bill was a picture of the Queen, and on the back of the bills were different pictures of places from across Canada. Money in the 1950s was used the same way as we do today. People worked to earn money so they could buy the things they needed or wanted.

 

Credit cards first came out and were used in 1958.

 

In the 1940s paper money was made out of 50% high grade flax and 50% cotton. (there were further reductions to 25% flax and 75% cotton during the 1940s to conserve linen for the production of material for war uniforms)

 

In the year 2001 paper money was 100% cotton.

 

In this project I learned that money was very different in the 1950s in many ways. I learned that money has been around for a long time, and I learned many interesting things about it. I wonder how money will look when I get older? I hope you enjoyed my report all about money in the 1950s

 

By Madison