To "Out-Eiffel Eiffel"
-
The Ferris Wheel. The goal was to build something so spectacular that it would rival the Eiffel Tower in Paris. George Washington Ferris came up with the idea.
'The wheel rotated on a 71-ton, 45.5-foot axle comprising what was at that time the world's largest hollow forging, manufactured in Pittsburgh by the Bethlehem Iron Company and weighing 89,320 pounds, together with two 16-foot-diameter cast-iron spiders weighing 53,031 pounds. There were 36 cars, each fitted with 40 revolving chairs and able to accommodate up to 60 people, giving a total capacity of 2,160. The wheel carried some 38,000 passengers daily and took 20 minutes to complete two revolutions, the first involving six stops to allow passengers to exit and enter and the second a nine-minute non-stop rotation, for which the ticket holder paid 50 cents. "
For a great history of the Chicago World's Fair in 1893, you can't beat Larson's "Devil in the White City."
My inflation calculator only goes back to 1913 - 50¢ then was the equivalent of about $14 today - for a 20 minute ride.