The Liberty Party was a political party which fielded a candidate for President of the the United States in the elections of 1840, 1844, 1848, 1852 and 1856. The Liberty Party was an early advocate of the abolitionist cause. It broke away from the American Anti-Slavery Society over a dispute about the Constitution. The Liberty Party believed that that the Constitution was an anti-slavery document, while William Lloyd Garrison and others in the American Anti-Slavery Society believed that the Constitution should be was an evil pro-slavery document. The Liberty Party was composed of abolitionists who were willing to work politically to try to bring about an end to slavery, while Garrison's abolitionists opposed voting.
The Liberty Party was formed in November of 1839. Its first national convention took place in Arcade, New York on April 1, 1840. The party nominated James G. Birney, a Kentuckian and former slaveholder, for President in 1840 and 1844. Birney had once worked for Henry Clay's campaign. He moved to Alabama where he purchased a cotton plantation, operated by slaves, some of which he had brought with him from Kentucky. He was a supporter of the American Colonization Society, an organization whose goal was to transport slaves back to live in Africa. In 1833, he was convinced by a number of Christian organizations that abolition of slavery was the morally correct option. He freed his remaining slaves and declared himself an abolitionist in 1834. He broke with the American Anti-Slavery Society in 1840 and was a founding member of the Liberty Party.
In the 1840 election, the Liberty party did not attract much support. Birney received about 7000 votes. It was in the 1844 election that the party had a greater impact. The party received 62,103 votes, about 2.3% of the popular vote. But it gained a lot of support in the state of New York. Many people believe that the Liberty Party drew votes which would have otherwise gone to Henry Clay. As a result, James K. Polk won the state of New York where Birney received 15,800 votes in New York. Polk won New York by 5,100 votes. If Clay had won New York, he would have had the majority of electoral votes, not Polk.
In 1848, political sentiment was stirred up by the Wilmot Proviso, a proposal by Pennsylvania Senator David Wilmot that slavery would not be permitted in the land acquired in the Mexican War. The "Barnburner" anti-slavery faction of New York Democrats split off from the rest of the Democratic party. This resulted in the possibility of forming a much larger and more influential political grouping devoted to anti-slavery goals. Many Liberty Party members met in Buffalo, New York with other groups in August 1848 to form the Free Soil Party, a party that was opposed to slavery, but was not strictly speaking abolitionist. A minority which was not willing to merge with the Free Soil Party nominated Gerrit Smith as rump National Liberty Party candidate for 1848, at a convention held on June 14 and 15 1848 in Buffalo. Smith went on to win 2,545 votes, less than 1% of the Free Soil vote total.
Salmon P. Chase of Ohio had joined the Liberty Party in 1841, and had a significant influence on the Liberty Party platform of 1844. Chase advocated the goal of withdrawing all direct federal government support and recognition of slavery as opposed to simply demanding the abolition of slavery everywhere in the United States. Chase was a strong supporter of the movement which resulted in the formation of the Free Soil Party.
The Liberty Party continued to exist, but many of its supporters left to join other parties. The 1848 platform strongly condemned attempts to moderate the party. The party began promoting moralistic policies, such as prohibitions on alcohol, gambling, and prostitution. The party favored free trade, and opposed tariffs.
In 1852, the party held its national convention on September 30, 1852, in Syracuse, N. Y. The presidential nominee that year was William Goodell of New York, and his running mate was S. M. Bell of Virginia. It received negligible support because most of its supporters voted for the Free Soil Party. (I don't know exactly how many votes the party received, but its votes were included among the 277 votes nationwide that were cast for "other" candidates.)
When the Free Soil Party merged with the Republican Party in 1854, many of the issues originally championed by the Liberty Party were now better represented by other parties. The party never fielded another candidate in a president election thereafter.