 Continuing his earlier battle with Stevens , Blaine led the fight in Congress for a strong dollar . After the issuance of 150 million dollars in greenbacks — non @-@ gold @-@ backed currency — the value of the dollar stood at a low ebb . A bipartisan group of inflationists , led by Republican Benjamin F. Butler and Democrat George H. Pendleton , wished to preserve the status quo and allow the Treasury to continue to issue greenbacks and even to use them to pay the interest due on pre @-@ war bonds . Blaine called this idea a repudiation of the nation 's promise to investors , which was made when the only currency was gold . Speaking several times on the matter , Blaine said that the greenbacks had only ever been an emergency measure to avoid bankruptcy during the war . Blaine and his hard money allies were successful , but the issue remained alive until 1879 , when all remaining greenbacks were made redeemable in gold by the Specie Payment Resumption Act of 1875 . 
