There was a strong movement in the convention for the nomination of David Davis for the presidency, but this seems to have met with opposition from Eastern delegates who remembered his desertion of the National Labor Reform party in 1872. Peter Cooper of New York was finally selected as the candidate. He was a philanthropist rather than a politician and was now eighty-five years old. Having made a large fortune as a pioneer in the manufacture of iron, he left his business cares to other members of his family and devoted himself to the education and elevation of the working classes. His principal contribution to this cause was the endowment of the famous Cooper Union in New York, where several thousand persons, mostly mechanics, attended classes in a variety of technical and educational subjects and enjoyed the privileges of a free library and reading room. When notified of his nomination, Cooper at first expressed the hope that one or both of the old parties might adopt such currency planks as would make the new movement unnecessary. Later he accepted unconditionally but took no active part in the campaign.
The Greenback movement at first made but slow progress in the various States. In Indiana and Illinois the existing independent organizations became component parts of the new party, although in Illinois, at least, quite a number of the former leaders returned to the old parties. In the other Western States, however, the third parties of the Granger period had gone to pieces or had been absorbed by means of fusion, and new organizations had to be created. In Indiana the Independent party developed sufficient strength to scare the Republican leaders and to cause one of them to write to Hayes: "A bloody-shirt campaign, with money, and Indiana is safe; a financial campaign and no money and we are beaten."
The Independents do not appear to have made a very vigorous campaign in 1876. The coffers of the party were as empty as the pockets of the farmers who were soon to swell its ranks; and this made a campaign of the usual sort impossible. One big meeting was held in Chicago in August, with Samuel F. Cary, the nominee for Vice-President, as the principal attraction; and this was followed by a torchlight procession. A number of papers published by men who were active in the movement, such as Buchanan's Indianapolis Star, Noonan's Industrial Age of Chicago, and Donnelly's Anti-Monopolist of St. Paul, labored not without avail to spread the gospel among their readers. The most effective means of propaganda, however, was probably the Greenback Club. At a conference in Detroit in August, 1875, "the organization of Greenback Clubs in every State in the Union" was recommended, and the work was carried on under the leadership of Marcus M. Pomeroy. "Brick" Pomeroy was a journalist, whose sobriquet resulted from a series of Brickdust Sketches of prominent Wisconsin men which he published in one of his papers. As the editor of Brick Pomeroy's Democrat, a sensational paper published in New York, he had gained considerable notoriety. In 1875, after the failure of this enterprise he undertook to retrieve his broken fortunes by editing a Greenback paper in Chicago and by organizing Greenback clubs for which this paper served as an organ. Pomeroy also wrote and circulated a series of tracts with such alluring titles as Hot Drops and Meat for Men. Several thousand clubs were organized in the Northwest during the next few years, principally in the rural regions, and the secrecy of their proceedings aroused the fear that they were advocating communism. The members of the clubs and their leaders constituted, as a matter of fact, the more radical of the Greenbackers. They usually opposed fusion with the Democrats and often refused to follow the regular leaders of the party.