The Greenback Party was an American political party with an anti-monopoly ideology which was active from 1874 to 1889. The party ran candidates in three presidential elections, in 1876, 1880 and 1884, before it faded away.

The 1876 United States presidential election was the 23rd quadrennial presidential election, held on Tuesday, November 7, 1876. Incumbent Republican president Ulysses S. Grant declined to run for a third term, so the party chose Rutherford B. Hayes, the governor of Ohio, as its nominee. The Democratic Party nominated New York governor Samuel J. Tilden as their nominee. It was one of the most contentious presidential elections in American history. Its resolution involved negotiations between the Republicans and Democrats, resulting in the Compromise of 1877, and on March 2, 1877, the counting of electoral votes by the House and Senate occurred, confirming Hayes as president. It was the second of five U.S. presidential elections in which the winner did not win a plurality of the national popular vote. This is the first time it happened since 1824. Following President Grant's decision to retire after his second term, U.S. Representative James G. Blaine emerged as the frontrunner for the Republican nomination. However, Blaine was unable to win a majority at the 1876 Republican National Convention, which settled on Governor Hayes of Ohio as a compromise candidate. The 1876 Democratic National Convention nominated Governor Tilden of New York on the second ballot.