1849 U.S. DOLLAR COIN Adjusted for inflation, an 1849 dollar is the equivalent of $45.06 today.

The next morning, December 6, the New York Herald’s coverage of yesterday’s State of the Union address includes the following passage:

The accounts of abundance of gold are of such an extraordinary character as would scarcely command belief were they not corroborated by the authentic reports of officers in the public service.  –James K. Polk

“Well,” you say aloud, “that decides it.” You circle the excerpt and leave the newspaper on your father’s bureau.

You head downtown to the National Bank of Kinderhook to close out your account, taking all your money in cash, 92 dollars and 56 cents. The coins are substantial, heavy in the pocket of your waistcoat.

Now, down to the business of travel. You have three options:

Overland. Stories have varied wildly, from a land dense with friendly commercial settlements, to a harsh and unforgiving landscape riddled with violent native tribes. The cost is $50.00, and the staging company suggests passage to Sacramento in 36 days, which sounds unreasonably optimistic.

Around the horn. A freighter heads south from Manhattan, all the way to Cape Horn at the southernmost tip of South America, around the continent, and then northward to San Francisco. It claims a 105-day journey, and costs $90.00.

Across the isthmus. Travel by brig to the east coast of Panama. Next, you’ll traverse the country through heavy forestation, by mule and canoe, equipped with a compass and a native guide. A second ship then takes you from the west coast of Panama to San Francisco. It costs $30.00, and doesn’t offer a time estimate.

• To take a prairie schooner across the continent, click here
• To travel by sea around Cape Horn, click here
• To take a ship to Panama and traverse the isthmus overland, click here