They were legal tender by law but were not backed by gold or silver, only the credibility of the U.S. government. The Greenback Labor Party was formed in the years following the American Civil War. The Greenback Era: A Social and Political History of American Finance, 1865-1879. Princeton University Press, 1968 - Currency question - 467 pages. This article about a book on finance is a stub. Even though banks helped clients sell the currency during last year’s payout season, it gained during the summer amid drops in the greenback.A beneficiary … It is about American finance in the post-Civil War period and the social and political elements involved.[1][2][3]. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Bibliographic information. Select Page. Today we face a comparable … Greenbacker manages capital for investors in the sustainable infrastructure sector. Our editors will review what you’ve submitted and determine whether to revise the article. Greenback Era. After the war, fiscal conservatives demanded that the government retire the greenbacks, but farmers and others who wished to maintain high prices opposed that move. The Greenback Era is not a financial history; rather, it is an attempt to locate the source of political power in the crucial Reconstruction years through a socio-economic study of American financial conflict during the years 1865 to 1879. The Greenback Era is not a financial history; rather, it is an attempt to locate the source of political power in the crucial Reconstruction years through a socio-economic study of American financial conflict during the years 1865 to 1879. Because this type of money was not backed by gold or silver, inflation resulted and the greenbacks declined in value. BY IRWIN UNGER. Irwin Unger. While every effort has been made to follow citation style rules, there may be some discrepancies. During the greenback era, the Union government issued irredeemable paper money to help pay for its war against the Confederates. While a few still are fixtures on the scene, others packed up their whips, … The essence of Irwin Unger's "The Greenback Era" - the 1965 winner of the Pulitzer Prize in history - is that the motivations of the hard and soft money supporters of the post Civil War period are more nuanced than Charles Beard and other leading American historians would have you believe. The greenback era; a social and political history of American finance, 1865-1879. by Irwin Unger starting at $7.99. Then came the Civil War. Unger, Irwin. × Close Overlay. The greenback era a social and political history of American finance, 1865-1879. The essence of Irwin Unger's "The Greenback Era" - the 1965 winner of the Pulitzer Prize in history - is that the motivations of the hard and soft money supporters of the post Civil War period are more nuanced than Charles Beard and other leading American historians would have you believe. GREENBACKS, the popular name for the U.S. notes issued during the Civil War as legal tender for all debts except tariff duties and interest on the public debt.They served as the standard of value in ordinary commercial transactions after their issue in 1862. Greenbacks were issued over a 5 year timeframe in two forms: Demand Notes, issued in 1861 and 1862, and United States Notes issued in 1862 and 1865. The definition of ‘Greenback’ today is as follows: Greenback – (n) an informal reference to US dollars but more explicitly today, legal tender Federal Reserve notes. The Greenback Era is not a financial history; rather, it is an attempt to locate the source of political power in the crucial Reconstruction years through a socio-economic study of American financial conflict during the years 1865 to 1879. This edition was published in 1964 by Princeton University Press in Princeton, N.J . Updates? In 1874 champions of an expanded currency formed the Greenback-Labor Party, which drew most of its support from the Midwest; and after Congress, in 1875, passed the Resumption Act, which provided that greenbacks could be redeemed in gold beginning Jan. 1, 1879, the new party made repeal of that act its first objective. Publication date. The Greenback Era: A Social and Political History of American Finance, 1865-1879 is a book by American historian Irwin Unger, published in 1964 by Princeton University Press, which won the 1965 Pulitzer Prize for History. PRINCETON, NEW JERSEY. Greenbacks -- History, Currency question -- United States -- History, Currency question, Greenbacks, Politics and government, Greenback Movement, Openbare financiën, États-Unis -- Politique et gouvernement -- 1865-1877, United States -- Politics and government -- 1865 … The greenback era; a social and political history of American finance, 1865-1879. by. What people are saying - Write a review. 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. Greenback movement, ( c. 1868–88), in U.S. history, the campaign, largely by persons with agrarian interests, to maintain or increase the amount of paper money in circulation. The Greenback Era: A Social and Political History of American Finance, 1865-1879 Item Preview > We haven't found any reviews in the usual places. To pay for the massive expense, the U.S. issued its first paper currency, the greenback (thus called because the printing on the back was literally green). The Greenback Era. 1964. The Greenback Era: A Social and Political History of American Finance, 1865-1879 is a book by American historian Irwin Unger, published in 1964 by Princeton University Press, which won the 1965 Pulitzer Prize for History.It is about American finance in the post-Civil … The greenback era; a social and political history of American finance, 1865-1879. has 0 available edition to buy at Half Price Books Marketplace The “Greenback Era” (1862-1878) in U.S. financial history is a source of continued fascination among economists. The beginning of the "Greenback" era in Our Treasury used to issue and manage our national currency - the 'Greenback' Dollar instituted amid the Civil War crisis. Shortly after Lincoln's death, the government revoked the Greenback law which ended Lincoln's debt-free, interest-free money. Topics. You can help Wikipedia by expanding it. Omissions? Find the most relevant information, video, images, and answers from all across the Web. Table of Contents Your institution does not have access to this book on JSTOR. This period is marked by the first time since the War of Independence when paper notes served as legal tender currency, As the biggest buyer of the greenback in the forwards market, the RBI is effectively funding some of the trading profits.Here’s how it works. Abstract The two leading explanations for the counterintuitive behavior of interest rates during the Greenback Era (1862–1878) – the resumption expectations model of Calomiris (1988) and the capital flow argument of Friedman and Schwartz (1963) – are inconsistent with each other in terms of their treatment of financial arbitrage. 0 Reviews. Originally published in 1964. The Supreme Court in United States History, The Organization and Administration of the Union Army, 1861–1865, The Significance of Sections in American History, A Constitutional History of the United States, Washington: Village and Capital, 1800–1878, The Ideological Origins of the American Revolution, The Transformation of Virginia, 1740–1790, The Launching of Modern American Science, 1846–1876, The Radicalism of the American Revolution, Gotham: A History of New York City to 1898, Sweet Taste of Liberty: A True Story of Slavery and Restitution in America, https://en.wikipedia.org/w/index.php?title=The_Greenback_Era&oldid=970041458, Creative Commons Attribution-ShareAlike License, This page was last edited on 28 July 2020, at 21:49. 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