Book Description

In 1873, a financial crisis plunged the United States into a deep economic depression that exacerbated a number of post-war economic issues. By the late 1870s, political dissent centered primarily on financial issues merged into the Greenback movement, which represented a loose coalition of reformers calling for economic relief based on the expanded use of greenbacks (paper currency issued by the United States Treasury during the Civil War). The Greenback Party emerged as a direct response to federal financial policies, but in Texas, it also provided a broad political platform for those opposed to the policies of "Redeemer/Bourbon" Democrats. The Greenback Party of Texas brought together a wide range of dissenters, including disgruntled Democrats, ousted Republicans, and many different economic and social reformers. From 1876, when the first Greenback clubs appeared in Texas, to the Greenback Party's virtual disappearance after the election of 1884, the Texas Greenbackers reached across boundaries of section, race, class, and sometimes gender; brought together farmers, workers, and professionals; Southerners and Northerners, white and black; former Confederates and former Unionists; native-born Americans and immigrants; and received sizable support from multiple counties in the northern, eastern, and central part of the state. In spite of its short run in Texas, the Greenback movement demonstrates both the complexity of Texas politics after Reconstruction and the failure of Democratic leaders to adequately address economic issues resulting from post-bellum economic changes. The movement also laid the foundation for many future reform movements with the articulation of an antimonopoly political tradition.