The term “greenback” refers to the US dollar and has historical significance from the Civil War era. The green color of the ink on Demand Notes led to the name. The Legal Tender Act allowed for the issuance of non-convertible Legal Tender Notes, paving the way for modern currency. The Greenback Labor Party called for […]
The Greenback Party advocated for government control of America’s monetary system without gold or silver reserves. It was formed by farmers and the poor who hoped it would drive up inflation and help them pay off debts. The party later changed its agenda to include progressive ideas and gained 14 seats in Congress in 1878. […]
