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4 - The “people's money”: Greenbackism in North Carolina, Illinois, and Massachusetts

Published online by Cambridge University Press:  29 March 2011

Gretchen Ritter
Affiliation:
University of Texas, Austin
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Summary

“I thought I had beaten the wicked Witch [of the East] then, and I worked harder than ever; but I little knew how cruel my enemy could be. She thought of a new way to kill my love for the beautiful Munchkin maiden, and made my axe slip again, so that it cut right thought my body, splitting me in two halves. Once more the tinner came and fashioned me a body of tin … But alas! I had now no heart …”

The Tin Woodman, The Wonderful Wizard of Oz

After a decade of political ferment, the Greenback party emerged as the vehicle for grassroots interest in financial reform. Although the party's focus was national, the roots of greenbackism were local. Around the country, the effects of contraction, the devastation of war, the consequences of railroad expansion, and the growth of manufacturing impelled different communities to contend with the processes of economic change. Their concerns and responses differed depending on the particular political and economic conditions of their states. Yet producers from various states and political backgrounds found common cause in the fight against financial monopoly.

Greenbackism was the most geographically diverse of the antimonopoly movements of the late nineteenth century. It was also politically particular in different states, where local issues drove and shaped the movement. This chapter analyzes the financial debate in three states.

Type
Chapter
Information
Goldbugs and Greenbacks
The Antimonopoly Tradition and the Politics of Finance in America, 1865–1896
, pp. 110 - 151
Publisher: Cambridge University Press
Print publication year: 1997

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