Which political party was created by supporters of paper money who opposed a return to a bullion-based monetary system?

The Greenback Party emerged in the 1870s primarily advocating for the use of paper money as a means to alleviate the economic hardships that many Americans faced following the Civil War. This political party arose during a time when there was significant debate over monetary policy, particularly regarding the return to a gold standard or a bullion-based monetary system. Supporters of the Greenback Party believed that a currency based on paper money would provide greater economic stability and promote growth by allowing for a more flexible money supply that could assist farmers and laborers who were struggling with debt and deflation.

Their platform was rooted in the desire for monetary reforms that would help everyday Americans rather than the wealthy elite. This advocacy for an inflationary monetary policy directly opposed the conservative factions that supported a return to a gold standard, which would limit the money supply and potentially worsen economic conditions for many. The Greenback Party played a significant role in American politics in the late 19th century, particularly in the context of agrarian and labor movements.