sep 1, 1764 - Currency Act

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This act required colonists to pay British merchants in gold and silver, rather than inflated colonial paper currency. This made it illegal for colonies to produce paper money.The British Reasoning for this was the colonial paper money wasn’t worth as much and was inflated. The colonists refused to pay in gold and silver and were further frustrated because the mercantilism ideals pushed on them by the British were putting them in a trade deficit. This made it harder for the colonists to pay their dues in gold and silver because their resources constantly being drained.

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