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A $5 United States Note of the series of 1862 popularly known as a "greenback" from the color of ink used on the reverse. The American Civil War of 1861 to 1865 greatly affected the financial system of the United States of America, creating vast new war-related expenditures while disrupting the flow of tax revenue from the Southern United States, organized as the Confederate States of America.
The Greenback Party was a newcomer to the political scene in 1880, having arisen, mainly in the nation's West and South, as a response to the economic depression that followed the Panic of 1873. During the Civil War, Congress had authorized "greenbacks", a form of money redeemable in government bonds rather than in
Greenback payment obligation (series 1862–63) Obligation Obligation text [13] First This note is a legal tender for all debts, public and private, except duties on imports and interest on the public debt, and is exchangeable for the U.S. six percent twenty-year bonds, redeemable at the pleasure of the United States after five years. Second
The 1876 Greenback National Convention was held in Indianapolis in the spring of 1876. The Greenback Party had been organized by agricultural interests in Indianapolis in 1874 to urge the federal government to inflate the economy through the mass issuance of paper money called greenbacks .
California Gov. Gavin Newsom (D) on Wednesday announced the completion of final efforts to remove the state’s massive and controversial Klamath dams. The elimination of these barricades — the ...
At the Round Rock Sports Center on Thursday, construction crews carved out where the foundation will eventually lay on the new expansion project approved by voters in last year's $274 million bond ...
The Specie Payment Resumption Act of January 14, 1875 was a law in the United States that restored the nation to the gold standard through the redemption of previously unbacked United States Notes [1] and reversed inflationary government policies promoted directly after the American Civil War.
The gold standard and the tariff tax on imports divided the major parties. [5] The monetary debate was over the basis for the value of the United States dollar. Nothing but gold and silver coin had ever been legal tender in the United States until the Civil War, when the mounting costs of the war forced the United States Congress to issue "greenbacks" (dollar bills backed by government bonds). [6]