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Encyclopedia Britannica - Main :: GRA-GUI |
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GREENBACKS , a form of paper currency in the United States, so named from the green colour used on the backs of the notes. They are treasury notes, and were first issued by the government in 1862, " as a question of hard necessity," to provide for the expenses of the Civil War. The government, following the example of the banks, had suspended specie payment. The new notes were therefore for the time being an inconvertible paper currency, and, since they were made legal tender, were really a form of fiat money. The first act, providing for the issue of notes to the amount of $15o,000,000, was that of the 25th February
March
April
February
The so-called Greenback party (also called the Independent, and the National party) first appeared in a presidential campaign in 1876, when its candidate, Peter
principal
Anti
Monopoly
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