According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) in 1869 was 13.6, while the CPI in 2023 is approximately 299.17. This means that the purchasing power of $1 in 1869 is equivalent to approximately $21.99 in 2023.
Therefore, $5000 in 1869 would be worth around $5000 * 21.99 = $109,950 in today's money.
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