How Much Did The Statue Of Liberty Cost To Build?
How much did it cost to construct the Statue of Liberty in modern times?
Completing Liberty – The Statue of Liberty Illuminating the World was completed in 1885. She measured 111 feet and 6 inches in height and weighed around 225 tons. This is around the weight of 14.5 D6 dozers. The corresponding cost to construct the statue in France was around $250,000 USD, or approximately $5.4 million now.
The 6-inch statue sold for $1, while the 12-inch statue went for $5. One of the original statuettes on display at the Statue of Liberty National Monument Park is depicted to the right. The French people gathered sufficient finances via grassroots efforts to construct the actual monument, but left the United States responsible for paying the pedestal on which Lady Liberty sits today.
After a protracted Civil War and Reconstruction, the 1880s were a challenging time for the United States, and Uncle Sam’s purse strings were still tight. The finance ran out a little more than halfway through the building of the platform, and the entire project was on the verge of disaster. The image below depicts the pedestal’s construction.
A congressional measure to pay the $100,000 necessary to complete the pedestal’s construction did not pass appropriations. The legislative arm of the New York state government approved a separate proposal to fund the project up to $50,000, but Governor Grover Cleveland rejected it., Joseph Pulitzer, who is well known today as the namesake of the Pulitzer Prize, chose to directly solicit U.S. people for the remaining project expenditures. He used his newspaper, The World, to reach a large number of citizens: “We must raise the money! The World is the people’s paper, and now it appeals to the people to come forward and raise the money.
In 2017 dollars, the value of the $100,000 is little over $2.3 million. Over 28 million people visited the Statue of Liberty between 2008 and 2015, generating over $280 million in income at an average admission price of approximately $10 per person. Not a bad return on investment! The monies obtained were sufficient to complete the platform’s construction.
Mr. Pulitzer set the standard by giving $250 from his own pocket. The average contribution per contributor was approximately 80 cents, making this a true grassroots endeavor. Pulitzer acknowledged the generous contributions of residents by publishing the names of 125,000 Statue of Liberty “backers” in his newspaper.
This type of acknowledgment as a perk or reward is still prevalent in many successful crowdfunding projects on platforms such as Kickstarter and Indiegogo. This tale is shared to demonstrate the democratizing potential and power of crowdfunding and crowdsourcing inventions. Crowdfunding online has become a revolutionary new financial frontier that presents chances for entrepreneurs, artists, philanthropists, and anybody seeking access to funds for their ideas.
How Much It Would Cost to Build Famous Landmarks Today
Without the restrictions of traditional financial loans and investment, almost anything is feasible. Through social media, internet payment processing, and the openness of crowdfunding sites, we are able to reach the same level of fundraising success as Pulitzer in only 4-6 weeks.
- Crowdfunding gives individuals the freedom to support what they believe in, and for this reason, it is not only here to stay but will also benefit our democracy in the long run.
- Liberty Island Timeline National Park Service, U.S.
- The Statue of Liberty is seen. Cole TB.
- The Statue of Liberty at Frédéric-Auguste Bartholdi’s Studio, Paris Paul-Joseph-Victor Dargaud.
https://www.measuringworth.com/uscompare/relativevalue.php JAMA.2014;312(1):8-9. doi:10.1001/jama.2013.279587 McNamara, Robert. Who Paid for the Liberty Statue? Histories of the 19th century About.com. Pedestal for Bartholdi’s Statue of Liberty on Bedloe’s Island, New York Harbor.
Accessed 3 December 2013. Page 356 of Harper’s Weekly, volume XXIX, number 1485, dated 6 June 1885. accessed December 3, 2013 Joseph PULITZER chromolithograph. American Library of Congress Note: Gift, Ralph Pulitzer, 1966. Location: LOT 10489 Reproduction Number: LC-USZ62-49254 National Park Service. Accessed on December 3, 2013 from http://www.pulitzer.org/historyofprizes and http://www.nps.gov/stli/historyculture/joseph-pulitzer.htm.2016 Brian, Denis.
Pulitzer: A Life.2001. Lady Liberty: A Gift to the People, by the People, p.104 of http://www.nps.gov/stli/historyculture/joseph-pulitzer.htm
Who owns the property where the Statue of Liberty is located?
Federal ownership – National Park Service facility on Liberty Island Since 1801, the federal government has controlled Liberty Island, first as a military base and then as a national landmark. Statue of Liberty National Monument, Ellis Island, and Liberty Island, which have been on the National Register of Historic Places since 1966, contain property in both New York and New Jersey, over which the United States has jurisdiction.
The undisputed boundary between New Jersey and New York is located in the middle of the Hudson River and Upper New York Bay, with Liberty Island situated well on the New Jersey side of the water line. However, Liberty Island is an exclave of the State of New York and a part of New York City, allowing the state and city of New York to retain sovereignty over Liberty Island, serve process there, and collect sales tax from Liberty Island souvenir shops.
In response to a frequently asked question concerning whether the Statue of Liberty is in New York or New Jersey, the National Park Service quotes the 1834 treaty. Question 127 on a 2006 pilot naturalization exam asks, “Where is the Statue of Liberty?” The U.S.
Citizenship and Immigration Services suggests “New York Harbor” and “Liberty Island” as preferred responses, but notes that “New Jersey”, “New York”, “New York City”, and “on the Hudson” are also acceptable. Both New York City and Jersey City have allocated the lot numbers for the island. From the New Jersey side, utilities like power, water, and sewage are given to Liberty and Ellis Islands, while mail is transported from the Battery in New York.
From 1986 through 2000, the monument appeared on New York license plates, as well as a unique New Jersey license plate commemorating Liberty State Park in Jersey City. The statue appears on the New York state quarter as well. The national monument was the emblem of the Central Railroad of New Jersey (which ran along the present-day Raritan Valley Line), whose train station is nearby.