Greenback (1860s money) in the context of "United States Note"

Henry Charles Carey (December 15, 1793 – October 13, 1879) was an American publisher, political economist, and politician from Pennsylvania. He was the leading 19th-century economist of the American School and a chief economic adviser to U.S. President Abraham Lincoln and Secretary of the Treasury Salmon P. Chase during the American Civil War.

Carey's central work is The Harmony of Interests: Agricultural, Manufacturing, and Commercial (1851), which criticizes the system of laissez faire capitalism and free trade expounded by Thomas Malthus and David Ricardo in favor of the American System of developmentalism through the use of tariff protection and state intervention to encourage national self-sufficiency and unity. Carey was also a critic of the practice of slavery from an economic perspective. His work on protective tariffs was largely influential on the early Republican Party and United States trade policy through the start of the 20th century, and his views on banking and monetary policy were adopted by the Lincoln administration in its issuance of paper fiat currency as legal tender.

George Sewall Boutwell (January 28, 1818 – February 27, 1905) was an American politician, lawyer, and statesman from Massachusetts. He served as Secretary of the Treasury under President Ulysses S. Grant, the 20th governor of Massachusetts, a U.S. senator and representative from Massachusetts, and the first Commissioner of Internal Revenue under President Abraham Lincoln. He was a leader in the impeachment of President Andrew Johnson and served as a House manager (prosecutor) in the impeachment trial.

Boutwell, an abolitionist, is known primarily for his leadership in the formation of the Republican Party, and his championship of African American citizenship and suffrage rights during Reconstruction. As a congressman, he was instrumental in the drafting and passage of the Fourteenth and Fifteenth Amendments to the United States Constitution. As Secretary of the Treasury, he made needed reforms in the Treasury Department after the chaos of the American Civil War and the impeachment trial of President Andrew Johnson. He controversially reduced the national debt by selling Treasury gold and using greenbacks to buy up Treasury bonds, a process that created a cash shortage. Boutwell and President Grant thwarted an attempt to corner the gold market in September 1869 by releasing $4,000,000 (~$83.5 million in 2024) of gold into the economy. As a U.S. senator, Boutwell sponsored the Civil Rights Act of 1875 and was chair of a Senate select committee investigating white supremacist violence against Black citizens and their white Republican Party supporters during the 1875 Mississippi state election campaign.