1874day.year
The United States Greenback Party is established as a political party consisting primarily of farmers affected by the Panic of 1873.
On November 25, 1874, the Greenback Party formed to champion the interests of farmers and laborers affected by the Panic of 1873.
In the wake of the Panic of 1873, American farmers and laborers faced severe deflation and mounting debts.
On November 25, 1874, representatives of agricultural and labor interests met to found the Greenback Party.
They advocated for the continued issuance of paper money unbacked by gold to inflate currency and ease debt burdens.
The new party positioned itself against mainstream Republicans and Democrats on monetary policy.
Although the Greenback Party won few elections, it galvanized grassroots support in the Midwest and South.
Its advocacy helped shape later populist and progressive reforms in American economic policy.
1874
Greenback Party
political party
Panic of 1873