
Greenbacks
Greenbacks were paper currency used in the United States mainly during the Civil War era (1861-1865). They were called "greenbacks" because of their green color and were issued by the federal government to finance the war effort, replacing gold and silver coinage as the primary medium of exchange. Initially, they were not backed by gold or silver, making them "fiat money," whose value depended on government promise and public trust. Greenbacks played a key role in stabilizing the economy during a tumultuous period and later became a standard part of U.S. currency.