her fancy, and so captivated the public taste that it has been said,
with poetic exaggeration, that "Kate Greenaway dressed the children of
two continents." Her drawings of children have been compared with
Stothard's for grace and with Reynolds's for naturalness, and those of
flowers with the work of van Huysum and Botticelli. From 1883 to 1897,
with a break only in 1896, she issued a series of _Kate Greenaway's
Almanacs_. Although she illustrated _The Pied Piper of Hamelin_ and
other works, the artist preferred to provide her own text; the numerous
verses which were found among her papers after her death prove that she
might have added to her reputation with her pen. She had great charm of
character, but was extremely shy of public notice, and not less modest
in private life. She died at Hampstead on the 6th of November 1901.
See the _Life_, by M. H. Spielmann and G. S. Layard (1905).
(M. H. S.)
GREENBACKS, a form of paper currency in the United States, so named from
the green colour used on the backs of the notes. They are treasury
notes, and were first issued by the government in 1862, "as a question
of hard necessity," to provide for the expenses of the Civil War. The
government, following the example of the banks, had suspended specie
payment. The new notes were therefore for the time being an
inconvertible paper currency, and, since they were made legal tender,
were really a form of fiat money. The first act, providing for the issue
of notes to the amount of $150,000,000, was that of the 25th February
1862; the acts of 11th July 1862 and 3rd March 1863 each authorized
further issues of $150,000,000. The notes soon depreciated in value, and
at the lowest were worth only 35 cents on the dollar. The act of 12th
April 1866 authorized the retirement of $10,000,000 of notes within six
months and of $4,000,000 per month thereafter; this was discontinued by
act of 4th February 1868. On 1st January 1879 specie payment was
resumed, and the nominal amount of notes then stood at $346,681,000,
which is still outstanding.
The so-called _Greenback party_ (also called the _Independent_, and
the _National_ party) first appeared in a presidential campaign in
1876, when its candidate, Peter Cooper, received 81,740 votes. It
advocated increasing the volume of greenbacks, forbidding bank issues,
and the paying in greenbacks of the principal of all government bonds
not expressly payable in coin. In 1878 the party, by various fusions,
cast over 1,000,000 votes and elected 14 Congressmen; and in 1880
there was fusion with labour reformers and it cast 308,578 votes for
its presidential candidate, J. B. Weaver, and elected 8 Congressmen.
In 1884 their candidate Benjamin F. Butler (also the candidate of the
Anti-Monopoly party) received 175,370 votes. Subsequently the party
went out of existence.
Public-domain text, read in full here on John Shaqi.
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