locofocomatches, from which their nickname derived. In Jan., 1836, this group organized a new party, called the Friends of Equal Rights or the Equal Rights party. They opposed the chartering of state banks and other forms of monopoly as well as exclusive privilege, as antidemocratic and advocated the suspension of paper money and of legal protection for labor unions. By nominating fusion candidates with the Whigs, the Locofocos defeated (Apr., 1836) Tammany men for city office and elected (Nov., 1836) two of their members to the state assembly. However, their intention was not to build a permanent new party, but to convert the regular Democrats to their platform. After Martin Van Buren and his administration adopted a large part of their program, especially its financial policies, Tammany also accepted much of their platform, and by 1838 most of the Locofocos had been reabsorbed into the Democratic party.
See F. Byrdsall, The History of the Loco-Foco or Equal Rights Party (1842, repr. 1967).
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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