[a][50], Franklin P. Dewees of the party's executive committee called the convention to order at 12:30 p.m. on June 9. [14] By 1879, there was a clear split, as a group led by Marcus M. "Brick" Pomeroy formed their own "Union Greenback Labor Party". [c][68] Supporters of Wright and Butler talked of combining their forces, but the momentum favored Weaver. [42], Several favorite son candidates had delegates interested in their nomination, although they were seen as having less of a chance of gaining the nomination. The Greenback Party was also a precursor to the Populist Party of the 1890s. [81], After the Exposition, it hosted festivals and concerts for several years until it was demolished in 1892. The North printed more than 450 million dollars in paper notes, popularly termed "Greenbacks." [35], After the war, Butler was elected to Congress as a Republican, and soon came to identify with that party's more radical element. Some members went on to join the Populist Party (or People's Party), a largely agrarian movement. [64] The Socialist Labor faction proposed another resolution declaring "that land, air, and water are the grand gifts of nature to all mankind", and that no person had a right to monopolize them; the convention applauded, but the proposal was shunted off to a committee. Chambers, a Texas merchant and surveyor, for Vice President. This may seem counter-intuitive but is how paper money works today; however Lincoln's banknotes, nicknamed greenbacks, were novel in an era of gold-backed currency. This tendency would only worsen by the end of the century. [8] Beyond their support for a larger money supply, they also favored an eight-hour work day, safety regulations in factories, and an end to child labor. And what’s this about fish the look like aliens. Baptized with blood and wet with tears. [64], It was nearly midnight on Thursday night when the platform fights were finished, but the delegates voted to proceed immediately to nominations for President. [2] During the Civil War, Congress had authorized "greenbacks", a new form of fiat money that was redeemable not in gold but in government bonds. The reduction of the money supply, combined with the economic depression, made life harder for debtors, farmers, and industrial laborers; the Greenback Party hoped to draw support from these groups.

[33] He successfully ran for a Massachusetts Senate seat in 1859. Wells, Robinson Crusoe's Money (NY 1876; reprint ed. The Civil War put an end to this monetary complexity. We look at some of the ways in which the language is changing.

[33] In the 1860 presidential campaign, Butler sought compromise with the slave power, and believed Senator Jefferson Davis of Mississippi ought to be the Democratic Party's nominee for president. Download our English Dictionary apps - available for both iOS and Android. [67] In the first formal ballot, at 4:10 a.m., Weaver gained votes, and delegates began shifting their ballots to him. How are you Green-backs! In 1884, Benjamin Franklin Butler stood on a joint Greenback Party/Anti-Monopoly Party ticket and came fourth with 134,294 votes (1.33%), just behind the Prohibition Party candidate John St John. [42] Finally, Solon Chase of Maine had some support from the New England delegations. They argued that wealth came from labor, not from "intrinsic value," and that the people should manipulate the money supply according to society's needs. We have almost 200 lists of words from topics as varied as types of butterflies, jackets, currencies, vegetables and knots! [53] She called for the new party to recognize women's right to vote, but the issue was avoided temporarily when the delegates voted to send her petition to a committee for further study. "[3], The value of greenbacks fluctuated against conventional gold-backed dollars during the war, depending on the fortunes of the Union armies: from parity it fell to as low as 2.58 greenbacks per gold dollar at one point in 1864. Webster’s New World College Dictionary, 4th Edition. Background on the Money Question, Part Two. And perhaps they were unable to escape the taint of the single-issue party whose issue has become a bit less relevant. Since Exist [38] After studying law at Dickinson College, Wright returned to Wilkes-Barre and quickly became known as a gifted attorney and orator. They argued that adopting both gold and silver as the basis for the nation's money--a "bimettalic" standard--would result in some mild inflation while retaining the alleged "natural" value of precious metal. Greenbacks still had many supporters, enough to form, in 1878, the Greenback Labor Party. [30] Weaver gave his first speech in April 1879, criticizing the use of the army to police Southern polling stations, while also decrying the violence against black Southerners that made such protection necessary; he then described the Greenback platform, which he said would put an end to the sectional and economic strife. He was seen as a pragmatist who represented the Greenback Party's more conservative members. More tumultuous was the fight over the platform, as delegates from disparate factions of the left-wing movement clashed over women's suffrage, Chinese immigration, and the extent to which the government should regulate working conditions. Butler, a Massachusetts-resident soldier and lawyer, was a divisive figure and a strange choice for nationwide office. In the mid-1800s, the Continental Congress did not have taxing authority. Silverites followed a middle course. The money question had the power to evoke strong emotions, and to symbolize larger cultural concerns. [15] Although much of the young party's leadership remained with the Eastern faction, the March gathering included Solon Chase and Kersey Graves, among other third-party notables. Labor unrest the following year, culminating in the Great Railroad Strike of 1877, added to many laborers' alienation from the two major parties. Or is it? This made them one of the few political parties to be actually in favour of inflation. The Greenback movement was a part of the agrarian unrest of the last quarter of the nineteenth century. Create an account and sign in to access this FREE content. [13], Attempts to fuse the disparate state and local parties into a national force led to friction between party leaders. They eventually agreed on a vague statement in the platform, that the party would "denounce as dangerous, the efforts everywhere manifest to restrict the right of suffrage". So what America needed was another party.

[19] The majority agreed with the sentiment, and Union Greenbackers gathered in Chicago along with National Greenbackers as their convention began a few months later.

[66] Weaver led the pack with about 30% of the votes, with Wright, Dillaye, and Butler trailing at about 15% each and the remaining votes scattered among the remaining candidates. [32], Benjamin Franklin Butler was born in Deerfield, New Hampshire, and later moved to Massachusetts to pursue a legal career.

[31] The next month, he spoke in favor of a bill calling for an increase in the money supply by allowing the unlimited coinage of silver, but the bill was easily defeated. The heart of the Greenback Party is their monetary policy. The members were principally farmers of the West and the South; stricken by the Panic of 1873, they saw salvation in an inflated currency that would wipe out the farm debts contracted in … He served as a representative for Massachusetts 3 times and briefly as Governor just before his presidential run. [65] At 1:00 Friday morning, the roll call began. [43] Wright proposed it again in 1879 and emphasized the conservatism of his proposal, that it was a loan secured by the homestead, not a gift from the state; even so, the bill went down to overwhelming defeat. Allison. He then became active in the Populist Party, standing for President in 1892, winning 5 states and receiving 8.5% of the vote; he then joined the Democratic Party.[12]. [8] The same year they became the second-biggest party in the Texas state legislature. Chambers of Texas for Vice President. [71], Weaver had still not arrived, and the Socialist Labor delegates took the opportunity to call for a re-vote on their land plank and the women's suffrage issue. A greenback is a slang term for U.S. paper dollars. "The Agrarian Crusade" by Solon J. Buck New party movements were devoted to particular measures such as fresh greenback issues or the prohibition of liquor traffic. [34] He was transferred to the Virginia theater in 1863, where he worked under General Ulysses S. Grant's direction in the campaigns that led to the Confederacy's defeat. The Greenback Party was a 19th century left-wing and populist American political party, also known as the Independent Party, the National Independent Party, and the Greenback Labor Party (not to be confused with George Wallace's American Independent Party, or the villain from Danger Mouse[1]).



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