On the record
A greenback is a piece of paper with a promise on its face and green on its back, declared to be money by Act of Congress, but which the Government refuses to pay.
Source
gutenberg.orgEditor's note · Context
Sumner defines a greenback and critiques its value as a currency backed by government promise.
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More from Charles Sumner
Still further: every ship-of-war that floats costs more than a well-endowed college.
In this contest, we may borrow from the ancient Greek, who, when his hands were cut off, fought with his stumps, and even with his teeth.
It is larger than the entire profit of all the commerce and manufactures of the world.
Again I repeat, so long as the War System prevails under the sanction of International Law, these painful incongruities will be apparent.
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