from The Century Dictionary.
- noun The principles of the Greenback party.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun A movement advocating for the inflation of the US
from Wiktionary, Creative Commons Attribution/Share-Alike License
"greenbackism," but still in possession of a large stock of gold.
The first attempts at organized political activity in behalf of greenbackism came not from the farmers of the West but from the laboring men of the East, whose growing class consciousness resulted in the organization of the National Labor Union in 1868.
It was not until the panic of 1873 had intensified the agricultural depression and the Granger movement had failed to relieve the situation that the farmers of the West took hold of greenbackism and made it a major political issue.
This early period of inflation propaganda has been described as "the social reform period, or the wage-earners 'period of greenbackism, as distinguished from the inflationist, or farmers' period that followed."
We have to-day in this land of the free and home of the crank, thousands of self-important little personages who know as little of political economy as a parrot of the power of prayer, prating learnedly of free-trade or protection, greenbackism or metallic money.
We know from experience that gold will not supply us with such a currency, that silver will not do it, that bi-metallism will not do it -- that greenbackism, as we understand the term, will not come within a mile of it.
We have had high and low tariff, the gold and silver standard, greenbackism and "wild-cat" currency; we have had presidents of all shades of political faith and congresses of every kind of economic folly; yet in a single century America has risen from the poorest of nations to the wealthiest in all the world.