Here's What A Dollar Would Get You At A Steakhouse In 1906

We do a lot of comparisons between chain steakhouses with regard to bargains, like the time we compared Texas Roadhouse vs. Outback Steakhouse regarding deals on ribs, but a "good deal" is relative to time and place. Long, long ago — well before Melvyn's of Palm Springs, California, became Frank Sinatra's favorite steakhouse — Walton's Old Homestead Oyster and Chop House was a New York City institution à la Keens and Delmonico's. In 1906, Walton's was distinguished by serving no fewer than 45 different presentations of New York's famous Blue Point oysters. To modern eyes, though, the most astonishing thing about the 120-year-old menu may be the pricing.

For one simple American dollar in 1906, you could eat almost anything on the Walton's steakhouse menu (via New York Public Library). A sirloin steak with mushrooms cost just 60 cents. Lamb chops were 40 cents. One could obtain half a broiled chicken for 60 cents, or a whole one for one dollar even. Sides ranged from 10 cents to 25 cents. You've heard about the steakhouse chain with the biggest porterhouse? No word on its size, but Walton's offered a single porterhouse for 80 cents, or one big enough to split for $1.35. Keep in mind that, as of this writing, $1 in 1906 was worth the equivalent of $36.69 today, adjusting for inflation. 

Steakhouses obviously served a much more diverse bill of fare at the dawn of the 20th century, as per the Walton's menu, which also featured egg dishes, cold cut sandwiches, around a dozen relishes, cheeses, and various seasonal fruit pies. Nothing just mentioned cost more than a dollar, and much of it came in well below that threshold.

Today, Walton's Old Homestead Oyster and Chop House is still alive and kicking in Manhattan's Meatpacking District, albeit under a different name. The Old Homestead Steakhouse is best known today for its immense cuts of beef, ensuring that nobody goes home hungry — even if the expansive relish menu is a thing of the past. Greg and Marc Sherry are brothers and co-owners of the restaurant, which has been in the family for 70 years at this point ... which is still only just over half of The Old Homestead's lifespan! "Quality and quantity" is the phrase that the Sherry family lives by (as per the restaurant's website), with the steakhouse serving not just the best-quality beef, but doing so in abundance.

The prices have soared as well, more than keeping up with the mammoth size of the steaks on offer. The Colorado rack of lamb now clocks in at over $72, and prime rib on the bone is $93.50. That porterhouse for two will set you back almost $180 today. Sides, which include steakhouse favorites like steak fries, broccoli, mushroom caps, and garlic mashed potatoes, are just south of $20 per plate. You'll note that the prices have not kept pace with inflation and are actually much higher than they were in 1906, even adjusted for the changing value of the U.S. dollar. Such is the nature of the iconic and historic NYC steakhouse, of which there are more than a few extant examples, but it's still bittersweet to look at that dollar bill in our wallets and think back on what could have been just a short 120 years ago!