#payment agreement

This is a payment book for what I can only assume was an engagement or wedding ring my Grandpa George gave my Grandma Alice. It wasn’t until after I found this little booklet that I realized that I don’t know when they were married. So, this is only a guess. 

This piece of jewelry was technically bought by my Great Grandma, probably because her credit was better. An item of interest is that this was done in the midst of The Great Depression. So, while it may seem like taking over a year to pay down $89 is a bit extreme, you would have to consider that this was a good chunk of change. As a matter of fact, if you use an inflation calculator that $89 would today be equivalent to $1,369.64. With that in mind, along with the Depression being in full swing, that loan term doesn’t sound so silly after all.