>
> A question for you economists. I'm working on an article about an
> early 20th century U.S. artist. I know that he earned $10,000 in
> 1919; $15,000 in 1921; and $22,500 in 1925. I know this is a large
> salary for that era but I'd like to be able to place the figures in
> some sort of context. Was he on the top 10% or the top 1%? Is there
> any reliable source that tracks average salaries in 20th century
> America. Thanks. Jeet
There was an income tax at that time, and income classes were set out annually in the World Almanacs of the period. Here are the numbers for 1919, 1921 and 1924:
[hope these tables can be read!]
1924 World Almanac p.311
1919 1921 total returns - 5,332,760 6,662,170 1000 to 2000 1,924,872 2,440,544 2000 to 3000 1,569,741 2,222,081 3000 to 4000 742,334 702,901 4000 to 5000 438,154 369,155 5000 to 10000 438,851 353,247 10000 to 15 97,852 80, 014 15000 to 20 43,028 34,230 20000 to 25 22,605 18.100 over 25,000 app 55,000 app40,000
so ten thou reported in 1919 would be in the top 4% fifteen thou reported in 1921 would be in the top 1.5%
1926 World Almanac p.177 slightly different report, but after the '26 edition this useful table disappears, so can't give you 1925.
1924 total returns 7,298,481 under 1000 344,281 1000 to 2000 2,350,494 2000 to 3000 2,308,062 3000 to 4000 1,051,346 4000 to 5000 553,096 5000 to 10 app 434,000 10000 to 15 app 110,000 15 to 20 49,145 20 to 25 27,445 over 25,000 app 70,000
25 thou reported in 1924 would be in the top 1%
then as now some income was tax exempt, and certainly reported income was (as the Philanthropist in Princess Ida - 1884 - sings "I know everybody's income and what everybody earns, and I carefully compare it to their income tax returns... and yet everybody says I'm such a disagreeable man") and is always on the low side, but my estimated percentages should be pretty accurate.
john mage