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Greenbacks
To help fund the military forces used against the Confederacy during the Civil War, the federal Congress issued a paper currency known as greenbacks. Even though greenbacks had no backing in specie (hard currency), this currency held its value fairly well because of mounting confidence the Union would prevail in the war. See also specie.
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- Part of Speech: proper noun
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- Industry/Domain: History
- Category: American history
- Company: University of Houston
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