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Ohio Idea
The Ohio idea was an idea by poor Midwesterners during the US presidential election of 1868 to redeem federal war bonds in United States dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...s, also known as greenbacks, rather than gold. Agrarian Democrats hoped to keep more money in circulation in order to keep interest rates lower. In summary, wealthy eastern delegates demanded a plank promising that federal war bonds be redeemed in gold-even though many of the bonds had been purchased with badly depreciated paper greenbacks. Poorer Midwestern delegates answered with the "Ohio Idea," which called for redemption in greenbacks. Debt-burdened agrarian Democrats hoped to keep more money in circulation and keep interest rates lower. This dispute later showed a bitter fight over t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1868 United States Presidential Election
The 1868 United States presidential election was the 21st quadrennial presidential election, held on Tuesday, November 3, 1868. In the first election of the Reconstruction Era, Republican nominee Ulysses S. Grant defeated Horatio Seymour of the Democratic Party. It was the first presidential election to take place after the conclusion of the American Civil War and the abolition of slavery. It was the first election in which African Americans could vote in the reconstructed Southern states, in accordance with the First Reconstruction Act. Incumbent president Andrew Johnson had succeeded to the presidency in 1865 following the assassination of Abraham Lincoln, a Republican. Johnson, a War Democrat from Tennessee, had served as Lincoln's running mate in 1864 on the National Union ticket, which was designed to attract Republicans and War Democrats. Upon accession to office, Johnson clashed with the Republican Congress over Reconstruction policies and was impeached and nearly re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Note
A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for 109 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks", a name inherited from the earlier greenbacks, the Demand Notes, that they replaced in 1862. Often termed Legal Tender Notes, they were named United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency. During the early 1860s the so-called ''second obligation'' on the reverse of the notes stated: By the 1930s, this obligation would eventually be shortened to: They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War. During the next century, the legislation governing these notes was modified many times and numerous versions were issued by the Treasury. United States Notes tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is one of the two major contemporary political parties in the United States. Founded in 1828, it was predominantly built by Martin Van Buren, who assembled a wide cadre of politicians in every state behind war hero Andrew Jackson, making it the world's oldest active political party.M. Philip Lucas, "Martin Van Buren as Party Leader and at Andrew Jackson's Right Hand." in ''A Companion to the Antebellum Presidents 1837–1861'' (2014): 107–129."The Democratic Party, founded in 1828, is the world's oldest political party" states Its main political rival has been the Republican Party since the 1850s. The party is a big tent, and though it is often described as liberal, it is less ideologically uniform than the Republican Party (with major individuals within it frequently holding widely different political views) due to the broader list of unique voting blocs that compose it. The historical predecessor of the Democratic Party is considered to be th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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