Editing James G. Blaine (section)

=== Monetary policy ===
Continuing his earlier battle with Stevens, Blaine led the fight in Congress for a strong dollar. After the issuance of 150 million dollars in greenbacks—[[Fiat money|non-gold-backed currency]]—the value of the dollar stood at a low ebb.{{sfn|Muzzey|pp=53–57}} A bipartisan group of inflationists, led by Republican [[Benjamin Butler (politician)|Benjamin F. Butler]] and Democrat [[George H. Pendleton]], wished to preserve the ''status quo'' and allow the Treasury to continue to issue greenbacks and even to use them to pay the interest due on pre-war bonds.{{sfn|Muzzey|pp=53–57}} Blaine called this idea a repudiation of the nation's promise to investors, which was made when the only currency was [[Gold dollar|gold]]. Speaking several times on the matter, Blaine said that the greenbacks had only ever been an emergency measure to avoid bankruptcy during the war.{{sfn|Muzzey|pp=53–57}} Blaine and his hard money allies were successful, but the issue remained alive until 1879, when all remaining greenbacks were made redeemable in gold by the [[Specie Payment Resumption Act]] of 1875.{{sfn|Hoogenboom|pp=358–360}}