USA HISTORY

Detailed explanation-1: -In 1868 the Democrats gave partial support to the Greenback movement by endorsing a plan that called for the redemption of certain war bonds by the issuance of new greenbacks.

Detailed explanation-2: -The Greenback Party would be an alliance of organized labor and reform-minded farmers intent on toppling the political hegemony of the industrial-and banking-oriented Republican Party which ruled the North during the Reconstruction period.

Detailed explanation-3: -Greenbacks-named for their distinctive color-were the first national currency of the United States. The notes, though not redeemable for gold or silver, were lawful money backed by the credit of the federal government.

Detailed explanation-4: -The greenback movement, which often used the name Greenback Labor Party, developed in the early 1870s to promote an inflationary economic policy intended to aid farmers. The movement later added a variety of progressive causes to its platform, including women’s suffrage and labor law reform.

Detailed explanation-5: -They formed the Greenback Labor Party and sought to elect candidates to office who supported the continued issuance of greenbacks. This political party also called for the end of government corruption, regulation of the railroads and other corporations and the conservation of natural resources.