The Greenback Party (also known as the Independent Party, the National Party, and the Greenback-Labor Party) was an
American political party that was active between
1874 and
1884. Its name referred to paper money, or "
greenbacks," that had been issued during the
American Civil War and afterward. The party opposed the shift from paper money back to a
specie-based monetary system because it believed that privately owned banks and corporations would then reacquire the power to define the value of products and labor. Conversely, they believed that government control of the monetary system would allow it to keep more currency in circulation, as it had in the war. This would better foster business and assist
farmers by raising prices and making debts easier to pay. It was established as a
political party whose members were primarily farmers financially hurt by the
Panic of 1873.
See more at Wikipedia.org...
Free Download Now!
