<P> The party 's name referred to the non-gold backed paper money , commonly known as `` greenbacks '' , issued by the North during the American Civil War and shortly afterward . The party opposed the deflationary lowering of prices paid to producers entailed by a return to a bullion - based monetary system , the policy favored by the Republican and Democratic Parties . Continued use of unbacked currency , it was believed , would better foster business and assist farmers by raising prices and making debts easier to pay . </P>
<P> The party 's name referred to the non-gold backed paper money , commonly known as `` greenbacks '' , issued by the North during the American Civil War and shortly afterward . The party opposed the deflationary lowering of prices paid to producers entailed by a return to a bullion - based monetary system , the policy favored by the Republican and Democratic Parties . Continued use of unbacked currency , it was believed , would better foster business and assist farmers by raising prices and making debts easier to pay . </P>
the greenback party and farmers ' alliances both called for
the greenback party and farmers ' alliances both called for
unbacked currency
unbacked currency