Greenback party

noun

U.S. History.

1. a former political party, organized in 1874, opposed to the retirement or reduction of greenbacks and favoring their increase as the only paper currency.

Greenback Party

noun

1. history a political party formed after the Civil War advocating the use of fiat money and opposing the reduction of paper currency

Other Word Forms

• Greenbackism noun
• Greenbacker noun

Example Sentences

After the war, he failed to win public office and joined the nascent Greenback Party, which demanded a greater money supply, expanded business regulations, and more progressive labor policies.

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The new group picked up the pieces of the Greenback Party and the Farmers’ Alliance movement and took on the cause of small farmers, who were at the mercy of large creditors and utterly reliant on the railroads for access to the market.

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The Republicans suffered massive defeats in the 1878 midterm elections, losing control of the Senate and sustaining further losses in the House, which was then divided four ways with the "independent Democrats" and the Greenback Party, as well as the official Democrats and Republicans.

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If Chernow had explained this, readers would know why Grant’s veto of the Inflation Bill probably cost the Republicans the 1874 midterm elections and why the Greenback Party emerged as one of history’s most successful independent political movements.

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Two years later, in the 1878 midterm elections, Americans showed their dissatisfaction with “politics as usual” by voting in 13 members of the populist Greenback Party to the House of Representatives.

Read more on The Guardian