The price of a first–class stamp - recently approved at 44 cents and good for up to one–ounce domestic mail - seems relatively inexpensive compared to its predecessor; the first U.S. postage stamp, issued in 1847. The first stamps, adorned with a picture of Benjamin Franklin, sold for 5 cents apiece. They were used for letters weighing less than one ounce with a travel distance of less than 300 miles. By way of comparison, pay records available for the 1890s indicate that a typical year’s pay for a schoolteacher was around $500, or 10,000 times the price of a stamp. Stamp prices then seem relatively high when compared to today’s average teacher pay, in the $40,000 per–year range, or about 1,000,000 times the price of a postage stamp!
The price of a first–class stamp - recently approved at 44 cents and good for up to one–ounce domestic mail - seems relatively inexpensive compared to its predecessor; the first U.S. postage stamp, issued in 1847. The first stamps, adorned with a picture of Benjamin Franklin, sold for 5 cents apiece. They were used for letters weighing less than one ounce with a travel distance of less than 300 miles. By way of comparison, pay records available for the 1890s indicate that a typical year’s pay for a schoolteacher was around $500, or 10,000 times the price of a stamp. Stamp prices then seem relatively high when compared to today’s average teacher pay, in the $40,000 per–year range, or about 1,000,000 times the price of a postage stamp!
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