1 sept 1764 año - Currency Act
Descripción:
Due to taxation, a surplus of imports over exports, and a lack of mines with which to extract gold or silver, the colonies had a great shortage of currency. Colonists often were forced to resort to a trade based system, which was both inefficient and outdated. Thus, many colonies began printing Bills of Credit as an alternative, but there were no regulations, and the system was resultingly highly complex and inconsistent. Due to protests by British merchants to this system, the Currency Act was passed on September 1, 1764. It effectively abolished the colonial system, prohibiting the creation and circulation of the currency. The act also made it so the British legal court was superior to the colonial one, so that cases of violence, treason, smuggling, etc. could be taken care of by the British instead of the likely biased colonials.
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