1 Sept 1764 Jahr - Currency Act September 1st 1764

Beschreibung:

The Currency Act of 1764 occurred on September 1st. It regulated paper money and was passed in order to Protect British merchants and creditors from being underpaid with money that was losing value. This was because the British rationalized that it would provide a guaranteed market of and for exports. It was also to reapply mercantilism.
The colonists however did not harbor good feelings about it but rather resentment because they rationalized that it would cause forced dependence and liabilities they did not want. It was also because the principle of the act was more heavy than the actual practice of it.