Here's A Insight Into The Overall Finances Of RMS Titanic
The RMS Titanic is one of the most well-known and talked-about vessels ever set out to sea. James Cameron’s movie Titanic (19997) continued the world’s obsession with the ship after romanticizing the Titanic’s story. On April 10, 1912, Titanic set off on its maiden voyage, carrying around 2,233 people aboard, as noted by CNN. History shared that Titanic’s whimsy was based on being one of the largest ships with “the greatest hull” during its time. It was also ironically known as “The Unsinkable Ship” by its design team, because of the ship's water-tight compartments below deck. If there were a leak, the ship would, theoretically, continue because the water wouldn’t flood into other parts of the vessel.
Unfortunately, on the Titanic’s journey from Brittain to New York, the vessel hit a catastrophic iceberg that proved its engineers, captains, and passengers wrong — the Titanic was sinking. After just two hours and 40 minutes after the hit, Titanic was split into two and was under the Atlantic Ocean. Because of the prestige of Titanic, the number of passengers aboard, and the shocking realities of improper safety regulations at the time, the sinking is still talked about today. This is especially the case considering how much money went into and was on the vessel.
The Titanic had three classes aboard: first, second, and third. Titanic Story explained that the three classes were kept separate aboard, with each class having different luxuries and amenities from the other. Considering how important the Titanic was (the ship was also a mail carrier, carrying thousands of letters and boxes for those in America from Britain), tickets to get on the vessel were incredibly expensive.
One of the more interesting facts about the Titanic is that even third-class tickets were pricey. BBC noted back in 1912, a third-class ticket cost a passenger £7, which is now around £800 in money today (or a little over $1,000). Considering the fee for the time period, $1,000 for a ticket was very expensive for those in third class, which only proves how valued the Titanic was. A ticket for second class in 1912 was £13, which is about £1,500 in today's money (or a little over $1,890). Knowing how expensive third- and second-class tickets were, those in first-class paid a hefty price tag for a swanky stay. The site continued that a ticket in first class cost around £30, which is now over £3,300 (or a little over $4,100).
Because the Titanic was so lavish and made to seem better than other vessels, those on board dressed to impress and brought items to make themselves feel more comfortable. Many on board were going to America in hopes of a new life and had brought only the best with them. On top of regal cargo, the luxurious vessel was also decorated in fine furnishings, carrying pricey bottles of wine and decor.
Designed to carry over 3,300 people and their private items, along with entertainment, food, furnishings, and beyond, the Titanic had $11 million (in today's money) attached to its passengers and their belongings. Another point that many forget that contributed to the thousands of dollars, is the cargo Titanic was carrying as part of its duty as a mail ship.
At the time, the Titanic was one of the most prestigious vessels to set sail. As one of the largest ships of its kind, the world fell in love with the idea of the Titanic and what it could mean for future voyages. Made of steel and housing 16 compartments that were watertight and theoretically ready for battle instead of the seas, it took nearly two years to build, as noted by National Geographic.
Court Theatre shared that within those two years, the British White Star Line (a large shipping company that owned and operated the Titanic) spent $7.5 million building the Titanic to make it one of the best vessels the world had ever seen. In today's dollars, the company spent almost $200 million to make the Titanic a possibility. Considering the resources and the time period, it's amazing the Titanic was the size that it was for being built in just two years. What makes the Titanic so fascinating to the world is that despite millions of dollars, being called "unsinkable," and being incredibly large, the ship was still brought down by an iceberg in the middle of the night.
Very few artifacts have been recovered from the ship. In fact, Titanic's resting place was only founded in 1985. It's quite difficult to dive and recover some of the finer things that went down with the ship some 12,000 feet under the ocean, but adventurists and enthusiasts dream of a world where they're able to access more of the vessel's belongings.
Source: CNN, The Cold Wire, Titanic Story, RMG, History Titanic Historical Society, Brittanica
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