This led the "Chicago Weekly Tribune" to state that the movement offered, "an opportunity to accomplish something for the country at large — not for the farmers merely, but for all who live by their industry, as distinguished from those who live by politics, speculations and class-legislation." Frustrated by their inability to get Democrats or Republicans to adopt inflationary monetary policy, southern and western leaders of monetary reform met in Indianapolis and proposed the creation of a new political party for currency reform. They would meet again in Cleveland to formally launch the Greenback Party in 1875. The Greenbackers condemned the National Banking System, created by the National Banking Act of 1863, the harmonization of the silver dollar (Coinage Act of 1873 was in fact the "Crime of '73" to Greenback), and the Resumption Act of 1875, which mandated that the U.S. Treasury issue specie (coinage or "hard" currency) in exchange for greenback currency upon its presentation for redemption beginning on January 1, 1879, thus returning the nation to the gold standard. Together, these measures created an inflexible currency controlled by banks rather than the federal government. Greenbacks contended that such a system favored creditors and industry to the detriment of farmers and laborers.