There was a strong movement in the convention for the nomination of David Davis for the presidency, but this seems to have met with opposition from Eastern delegates who remembered his desertion of the National Labor Reform party in 1872. Peter Cooper of New York was finally selected as the candidate. He was a philanthropist rather than a politician and was now eighty-five years old. Having made a large fortune as a pioneer in the manufacture of iron, he left his business cares to other members of his family and devoted himself to the education and elevation of the working classes. His principal contribution to this cause was the endowment of the famous Cooper Union in New York, where several thousand persons, mostly mechanics, attended classes in a variety of technical and educational subjects and enjoyed the privileges of a free library and reading room. When notified of his nomination, Cooper at first expressed the hope that one or both of the old parties might adopt such currency planks as would make the new movement unnecessary. Later he accepted unconditionally but took no active part in the campaign.

The Greenback movement at first made but slow progress in the various States. In Indiana and Illinois the existing independent organizations became component parts of the new party, although in Illinois, at least, quite a number of the former leaders returned to the old parties. In the other Western States, however, the third parties of the Granger period had gone to pieces or had been absorbed by means of fusion, and new organizations had to be created. In Indiana the Independent party developed sufficient strength to scare the Republican leaders and to cause one of them to write to Hayes: "A bloody-shirt campaign, with money, and Indiana is safe; a financial campaign and no money and we are beaten."

The Independents do not appear to have made a very vigorous campaign in 1876. The coffers of the party were as empty as the pockets of the farmers who were soon to swell its ranks; and this made a campaign of the usual sort impossible. One big meeting was held in Chicago in August, with Samuel F. Cary, the nominee for Vice-President, as the principal attraction; and this was followed by a torchlight procession. A number of papers published by men who were active in the movement, such as Buchanan's Indianapolis Star, Noonan's Industrial Age of Chicago, and Donnelly's Anti-Monopolist of St. Paul, labored not without avail to spread the gospel among their readers. The most effective means of propaganda, however, was probably the Greenback Club. At a conference in Detroit in August, 1875, "the organization of Greenback Clubs in every State in the Union" was recommended, and the work was carried on under the leadership of Marcus M. Pomeroy. "Brick" Pomeroy was a journalist, whose sobriquet resulted from a series of Brickdust Sketches of prominent Wisconsin men which he published in one of his papers. As the editor of Brick Pomeroy's Democrat, a sensational paper published in New York, he had gained considerable notoriety. In 1875, after the failure of this enterprise he undertook to retrieve his broken fortunes by editing a Greenback paper in Chicago and by organizing Greenback clubs for which this paper served as an organ. Pomeroy also wrote and circulated a series of tracts with such alluring titles as Hot Drops and Meat for Men. Several thousand clubs were organized in the Northwest during the next few years, principally in the rural regions, and the secrecy of their proceedings aroused the fear that they were advocating communism. The members of the clubs and their leaders constituted, as a matter of fact, the more radical of the Greenbackers. They usually opposed fusion with the Democrats and often refused to follow the regular leaders of the party.

In the election the Greenback ticket polled only about eighty thousand votes, or less than one per cent of the total. In spite of the activity of former members of the Labor Reform party in the movement, Pennsylvania was the only Eastern State in which the new party made any considerable showing. In the West over 6000 votes were cast in each of the five States—Indiana, Illinois, Michigan, Iowa, and Kansas. The agrarian aspect of the movement was now uppermost, but the vote of 17,000 polled in Illinois, though the largest of the group, was less than a quarter of the votes cast by the state Independent Reform party in 1874 when railroad regulation had been the dominant issue. Clearly many farmers were not yet convinced of the necessity of a Greenback party. The only tangible achievement of the party in 1876 was the election of a few members of the Illinois Legislature who held the balance between the old parties and were instrumental in sending David Davis to the United States Senate. This vote, it is interesting to note, kept Davis from serving on the electoral commission and thus probably prevented Tilden from becoming President.

But the Greenback movement was to find fresh impetus in 1877, a year of exceptional unrest and discontent throughout the Union. The agricultural depression was even greater than in preceding years, while the great railroad strikes were evidence of the distress of the workingmen. This situation was reflected in politics by the rapid growth of the Greenback party and the reappearance of labor parties with Greenback planks. ¹

¹ In state elections from Massachusetts to Kansas the Greenback and labor candidates polled from 5 to 15 per cent of the total vote, and in most cases the Greenback vote would probably have been much greater had not one or the other, and in some cases both, of the old parties incorporated part of the Greenback demands in their platforms. In Wisconsin, for example, there was little difference between Democrats and Greenbackers on the currency question, and even the Republicans in their platform leaned toward inflation, although the candidates declared against it. No general elections were held in 1877 in some of the States where the Greenback sentiment was most pronounced.

In the following year the new party had an excellent opportunity to demonstrate its strength wherever it existed. In February, 1878, a conference was held at Toledo for the purpose of welding the various political organizations of workingmen and advocates of inflation into an effective weapon as a single united party. This conference, which was attended by several hundred delegates from twenty-eight States, adopted "National" as the name of the party, but it was usually known from this time on as the Greenback Labor party. The Toledo platform, as the resolutions adopted by this conference came to be designated, first denounced "the limiting of the legal-tender quality of greenbacks, the changing of currency-bonds into coin-bonds, the demonetization of the silver dollar, the excepting of bonds from taxation, the contraction of the circulating medium, the proposed forced resumption of specie payments, and the prodigal waste of the public lands." The resolutions which followed demanded the suppression of bank notes and the issue of all money by the Government, such money to be full legal-tender at its stamped value and to be provided in sufficient quantity to insure the full employment of labor and to establish a rate of interest which would secure to labor its just reward. Other planks called for the coinage of silver on the same basis as that of gold, reservation of the public lands for actual settlers, legislative reduction of the hours of labor, establishment of labor bureaus, abolition of the contract system of employing prison labor, and suppression of Chinese immigration. It is clear that in this platform the interests of labor received full consideration. Just before the conference adjourned it adopted two additional resolutions. One of these, adopted in response to a telegram from General B. F. Butler, denounced the silver bill just passed by Congress because it had been so modified as to limit the amount of silver to be coined. The other, which was offered by "Brick" Pomeroy, declared: "We will not affiliate in any degree with any of the old parties, but in all cases and localities will organize anew … and … vote only for men who entirely abandon old party lines and organizations." This attempt to forestall fusion was to be of no avail, as the sequel will show, but Pomeroy and his followers in the Greenback clubs adhered throughout to their declaration.

In the elections of 1878, the high-water mark of the movement, about a million votes were cast for Greenback candidates. Approximately two-thirds of the strength of the party was in the Middle West and one-third in the East. That the movement, even in the East, was largely agrarian, is indicated by the famous argument of Solon Chase, chairman of the party convention in Maine. "Inflate the currency, and you raise the price of my steers and at the same time pay the public debt." "Them steers" gave Chase a prominent place in politics for half a decade. The most important achievement of the movement at this time was the election to Congress of fifteen members who were classified as Nationals—six from the East, six from the Middle West, and three from the South. In most cases these men secured their election through fusion or through the failure of one of the old parties to make nominations.

Easily first among the Greenbackers elected to Congress in 1878 was General James B. Weaver of Iowa. When ten years of age, Weaver had been taken by his parents to Iowa from Ohio, his native State. In 1854, he graduated from a law school in Cincinnati, and for some years thereafter practiced his profession and edited a paper at Bloomfield in Davis County, Iowa. He enlisted in the army as a private in 1861, displayed great bravery at the battles of Donelson and Shiloh, and received rapid promotion to the rank of colonel. At the close of the war he received a commission as brigadier general by brevet. Weaver ran his first tilt in state politics in an unsuccessful attempt to obtain the Republican nomination for lieutenant governor in 1865. Although an ardent advocate of prohibition and of state regulation of railroads, Weaver remained loyal to the Republican party during the Granger period and in 1875 was a formidable candidate for the gubernatorial nomination. It is said that a majority of the delegates to the convention had been instructed in his favor, but the railroad and liquor interests succeeded in stampeding the convention to Samuel J. Kirkwood, the popular war governor. In the following year Weaver took part in the organization of the Independent or Greenback party in Iowa and accepted a position on its state committee. Though resentment at the treatment which he had received from the Republicans may have influenced him to break the old ties, he was doubtless sincerely convinced that the Republican party was beyond redemption and that the only hope for reform lay in the new party movement.

Weaver was gifted with remarkable talent as an orator. His fine face and soldierly bearing, his rich sympathetic voice and vivid imagination, made him a favorite speaker at soldiers' reunions and in political campaigns. Lacking the eccentricities of so many of his third party associates and never inclined to go to extremes in his radicalism, he was one of the ablest and, from the standpoint of the Republicans, the most dangerous of the Greenback leaders. In Congress Weaver won the respect of his colleagues. Always ready to promote what he believed to be the interests of the common people and especially of the farmers, he espoused the cause of the Oklahoma "boomers," who were opposed by a powerful lobby representing the interests of the "cattle barons." He declared that, in a choice between bullocks and babies, he would stand for babies, and he staged a successful filibuster at the close of a session in order to force the consideration of a bill for the opening of part of Oklahoma to settlement.