To help fund the Civil War $450 million worth “greenbacks” (dollar bills) were printed by the government. This caused an economic boom, but after the war most Americans agreed that greenbacks should be withdrawn from the nation’s currency in favor of gold and silver. There were three positions to be in on the currency situation. “Gold bugs” wanted gold as the standard currency for the nation. They believed Gold was “honest money” and greenbacks were a national dishonor. Gold bugs also wanted less money in circulation so that the value of the currency would increase. This group consisted of wealthy people such as businessmen and bankers, so this would benefit them only. Using only gold as the currency would cause the less wealthy people to have
