What was the purpose of the Greenback Labor Party quizlet?
The Greenback party (also called the National Greenback party) was organized in 1876 to campaign for expansion of the supply of paper money—”greenbacks”—first issued by the federal government in 1862 to help pay for the Civil War.
What was the Greenback Labor Party Apush?
Greenback-Labor Party. National political movement calling on the government to increase the money supply in order to assist borrowers and foster economic growth; these followers also called for greater regulation of corporations and laws enforcing an eight hour work day.
What caused the panic of 1873 quizlet?
The Panic of 1873 stands as the first global depression brought about by industrial capitalism. It was caused by too many railroads and factories being formed than existing markets could bear and the over-loaning by banks to those projects.
Who were the stalwarts quizlet?
Terms in this set (30) Conkling was the leader of a group for Republicans called the Stalwarts. These people loved the spoils system and supported it wherever it was threatened. They were opposed by the Half-Breeds led by James G.
What was the American Federation of Labor AFL )? Quizlet?
American Federation of Labor, a labor union formed in 1886 by Samuel Gompers in order to voice the working class. It fought against labor forces and debated work conditions for skilled workers. Utilized Strikes. The AFL used strikes to help improve hours, working conditions, and wages for skilled workers.
What did the greenbacks do?
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.
How did greenbacks impact the Civil War?
Greenbacks funded about 15% of the war effort but raised inflation rates to 14% in 1862 and 25% in 1863 and 1864. Inflation pushed up the cost of war material and reduced the welfare of workers, professionals, annuitants, bondholders and others whose incomes did not keep pace with the higher cost of living.
Why is the Panic of 1873 important?
The Panic of 1873 triggered the first ‘Great Depression’ in the United States and abroad. Lasting from September 1873 until 1878/9, the economic downturn then became known as the Long Depression after the stock market crash of 1929. Currency in the nineteenth century was based on specie.
What event brought about the Panic of 1873?
The panic started with a problem in Europe, when the stock market crashed. Investors began to sell off the investments they had in American projects, particularly railroads. Back in those days, railroads were a new invention, and companies had been borrowing money to get the cash they needed to build new lines.
What did Stalwarts support?
Stalwarts were the “traditional,” “Old Guard” Republicans who advocated for the civil rights of African-Americans and opposed Rutherford B. Hayes’s efforts to enact civil service reform. They were pitted against the “Half-Breeds” (classically liberal moderates) for control of the Republican Party.
What is a Stalwarts and a Half-Breeds quizlet?
Half breeds and Stalwarts. Two groups that fought for control of the Republican Party; half-breeds were led by James G Blaine and favored reforms; stalwarts by Roscoe Conkling and favor traditional political machines. Roscoe Conkling. Leader of the stalwarts; from New York.