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Greenback 

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Greenback may refer to:

American Greenbacks were first authorized by the Legal Tender Act of 1862 to pay for the American Civil War. They were issued directly by the US.Treasury but were subject to limitations established by Congress which approved three further issues on July 10, 1862 , March 3, 1863, and May 3, 1878. Greenbacks were not backed by gold, or bank deposits, or government reserves and bore no interest.

At the end of the Civil War, the Radical Republicans, led by Abraham Lincoln and his economic advisor Henry Charles Carey sought to make the Greenback System permanent. In March 1865 Carey published a series of letters to the Speaker of the House of Representatives entitled The Way to Outdo England Without Fighting Her in which he called for the two-pronged financial strategy for post-war reconstruction of raising the Bank Adequacy Ratio to 50% and issuing Public Credit in the form of Greenbacks. Lincoln was assassinated the following month and the Lincoln/Carey Plan abandoned. The American economist S.G.Fisher once commented that 'the Greenbacks were the best currency that ever a Nation had.'

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