Greenbackers

participants in the farmers’ movement in the United States in the 1870’s and 1880’s. The Greenback-ers, like the Grangers, attempted to oppose the onslaught of the big capitalists and particularly the oppression and robbery of the railroad magnates and bankers. They opposed the removal from circulation of greenback currency, mistakenly thinking that the retention of greenbacks would lead to increased prices on agricultural products. The first Greenback party, the Independent National Party, was organized in the 1870’s. When it united with workers’ groups it became known as the Greenback Labor Party. In the 1878 congressional elections it got more than 1 million votes. After its defeat in the 1884 presidential elections it disintegrated. In the I890’s many Greenbackers took part in the Populist movement.